Trade Mistake Review (June 21st): I Turned A Good Trade Into A Horrible One

There are not always winning trades:-)

I have a lot losing trades as well. Here I want to share a example how my emotions fucked this trade up.

Cutting losses and following the plan is sometimes hard for me. In this example I want to show what happened to me with a TRX/USDT setup not following my plan.



https://www.tradingview.com/x/N1QpDD2L/


In this trade I entered after a 1h candle close at 0.03143 and my target was 0.033.

Volume came in and my target got hit very fast, but I removed my take profit like a genius, because I thought/felt that this one is going much much higher. So I let my emotions take over this trade.

1. On pure speculation and feeling I removed my take profit at 0.033 and became a ''Moonchild''. It is so ridiculous stupid but in that situation I was like in a tunnel and thought it was the right decision. We all learned it, that we should never remove stops or take profits and trade our plan, but it happens to me sometimes. And how you can imagine, with no good ending.

So TRX moved a bit higher and I was very comfortable in my decision. But then it came back down and instead of taking profits I was kind of handicaped/blocked in my thoughts and I hoped it goes up again, and with every tick it went up there was hope.

But it came down further and I still didn't take profits.

I just held like an idiot and finally exited the trade with a loss. I don't know why I did this..it was trance-like and my mind wasn't clear to think about it in that moment.

After that trade I had to take a day off and reflect my mistakes. I felt pretty bad and stupid that I turned a winning trade into a really horrible one.


I saw that my main problems are to trade my plan. I decided to take more time off to review my mistakes after such a bad trade to understand what I was really doing.





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