I had a tendency to put in third trade of the day around 430pm. I did not do that. After realising I was in fact walking towards self-sabotage stage. Self-sabotage basically means I have the tendency to repeat the same mistakes over and over again. I would say it has been an bad week for me with loss about -0.82R , though I am still in black (profitable) for July, I am still up by 1.66R. Ego was troubling me.
Looking at the chart carefully, volume was low through out the day and spread was wide (3 to 4 ticks!). The condition does not favour my trading strategy. My trading performance is deteriorated after I start increasing frequency of trading (from 1 trade to 2 trades each day). I tend to be giving myself rooms to make mistake. Secondly, I have been putting myself under the pressure to achieve my monthly target. It is time to focus on quality again.
After all, the objective of trading is to improve the Expectancy of my system and generate more trades at the same time.
Before I achieve that, welcome to the world of trading psychology
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