One last post

One last postMarch 4, 2014I meant to make this post before the previous one announcing the decision to stop the blog.After a lot of reflection and analysis of February’s poor trades, if I had to point to the root cause of it, I’d say it was the refusal to take my losses on the yen pairs in late Jan / early Feb.The old proverb is very very true: The first loss is the best loss.Because I didn’t get out of those trades, my view of the market got progressively more distorted. One poor decision led to a string of poor decisions. As those trades slipped further into the red, fear crept into my decision-making leading to further poor trades.The lesson, the rule that I …

via Zen and the Art of FX Trading:

I meant to make this post before the previous one announcing the decision to stop the blog.

After a lot of reflection and analysis of February’s poor trades, if I had to point to the root cause of it, I’d say it was the refusal to take my losses on the yen pairs in late Jan / early Feb.

The old proverb is very very true: The first loss is the best loss.

Because I didn’t get out of those trades, my view of the market got progressively more distorted. One poor decision led to a string of poor decisions. As those trades slipped further into the red, fear crept into my decision-making leading to further poor trades.

The lesson, the rule that I will never break again:

Plan the trade and trade the plan.

The first loss is always the best loss.

When the market proves you wrong, accept it gracefully, don’t fight it.

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One last post

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