I don't know if the so called "professional traders" let a losing trade go to their head but it bothers me because after all I am human. 

During the European session this morning, I had a signal to go short.  I placed my stop at 1.9008.  A little after 4am, my stop at 1.9008 was taken out.  The price did not go any higher than 1.9008 and preceded to go back down where it would have hit my profit targets.  There is nothing more frustrating than having your stop at exactly the wrong place!  If I had placed my stop at 1.9009, I would have profited at least 100 pips.  Instead, I lost 87 pips.  This is an $1800 swing against me.

Like I said, I'm human and even if I do eventually trade full-time, I don't see how things like this won't ever bother me.  I also have a hard time believing those who say that a losing trade never bothers them no matter how professional you are.  I'm also not one to dwell on blaming others for my losses.  Someone might say, "the broker took my stop out!" This would be something beyond my control so I don't even think about it.  If I never wanted to get stopped out then either I shouldn't use stops (not a good idea) or I shouldn't trade.  No broker is perfect and I'm not about to blame any unless it is blatantly obvious.  It doesn't mean I won't question their tactics but I won't blame them when I lose.

Even though this trade loss is bothering me, I am not going to let it sabotage my trading.  I am disciplined enough to not just jump into another trade because I have to make this money back.  I think this is more important than anything.  If a losing trade is going to bother you, don't let it carry its negativity to your next trade. 

So this is really a journal entry because I'm entering it while I'm still a bit frustrated by this loss.  This is probably a better time than ever for my feelings on this trade to be recorded.

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No. 1 :

never mind rich..thats how it is sometimes..i had a similar incident last week monday when i shorted usd/chf..u jus have to move on and as yous said dont transfer negativity between trades. Its happend to the best of u:)

happy trading

Submitted by Forex Rookie • 2007-02-23 09:18:40

No. 2 :

I know the feeling - having a pretty rotten week myself. I think one of the most important skills in forex is being able to anticipate losses and keep them in perspective, because they're inevitable. One paradox I've found is that the larger my dollar losses, the better I'm doing overall - because I have the funds to trade those larger amounts. Sounds obvious, but it does help make a really nasty day look a little better. And sounds like your other results with the H system have been very impressive!

Adam aka Riverman, www.forexforays.com

Submitted by Adam • 2007-02-23 12:08:25

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