When breaking the rules costs a fortune

What a day.  This was a roller coaster.  How did it unfold?  It’s a long story.  Bear with me …

Point (A) on the graph.  I missed the entry here – I was asleep.  I awoke at 6am and was a bit hacked off.   No matter because at point (B) I got the signal for a half position entry, and went £10 short at 1.7392.  Only one traffic light limited me, but then barely 30 minutes later I could add the other half and 1.7390.  That’s pretty unusual but what happened next is even more so.

I spoke to another trade (one of the Enigmasignal team).  And that led to me breaking my own rules and missing out on 75 points of profit at £20 a point.  A full £1500.  I mean, I made a nice £1340 anyway so not a disaster but £1840 would have been better.  The full transcript from Whatsapp is below the chart.  Read it and weep.  I have. 

Lesson: follow the rules, trust the numbers. 

So how did this play out?  Here are a few snippets of our morning WhatsApp ….

No major problems there, but then the trade was running and I was eating my breakfast and trading at the same time.  Well, I say trading, I was watching a trade.  

No matter what happened though I had already taken my profit a few minutes earlier.  As I say, a lovely result really (£1340 in 2 hours whilst watching Netflix ….).  But I should have trusted the Enigma Smart Stop ™ and let it run for the extra money.  I don’t know why I didn’t.  But it always happens to me when I chat with other traders when in a trade.  I can do it in a trading room, no problems.  But when I know the other person and I discuss the markets with them I seem to forget my rules and trade from what I think and not from the numbers.  It won’t happen again.  Tomorrow?  Thats another day.