After experiencing previous blowouts on large trades, I promised myself I'd never hold onto them, but I ended up breaking my rules again, even though I eventually recovered. 😕
Ever since I started trading, I've had a bad habit of holding onto trades only to end up losing more than I actually lost. Too many times before, I'd managed to pull it off and make a good profit. Those "lucky I didn't cut" experiences led me to believe I could always get away with it, until those massive blowouts at the end of the year taught me a hard lesson.
I've been bullish on a particular coin these past few days. My research suggests it should have risen, but it went straight down, and I held onto it for four days. In the end, it actually recovered, and it should have continued to rise. But I wasn't happy at all. I just felt like I had broken discipline again and deserved to be punished.
You should know how to set a stop-loss so you don't lose your temper, and then enter the market at the right point to achieve good returns. But today, the focus wasn't on the returns, but on falling just short and making the same mistake again!
A record of my undisciplined day.
