genlogins wrote:Why I am so fed up today?
Because I saw why I am down this week.
I saw my SL being hit a few times by 0.1 of a pip. Yes, that is 6 digit account, and it is 1 tenth (1/10) of a pip.
Price moved back up to my SL and than run my way.
I think the brokers can, and will take all they can from you. Reason why 95% people also loose.
Such an experience is not uncommon in trading, just as escaping a SL being hit narrowly by 0.1 pip is also possible. We tend to be selective in feeling hurt to a higher degree and feeling good to a lesser extent. Ask yourself which experience will make you remember it longer - losing from being stopped out by 0.1 pip, or taking a profit at 0.1 pip from the highest price before it reverses on you? Probably you will remember the loss more than the win because it hurts so much. Who would you have ascribed your winning success to in the latter case? Yourself isnt it? After all, you are the one who have set the profit target right? Now both scenarios are symmetrically opposite, but why the difference in emotional intensity and reasoning? Simply because we are selectively biased and unable to accept the unpleasant outcome. The loss makes us more risk-averse and the win makes us over-confident. This emotional state is not conducive to our trading mindset. When we enter a trade, we must not associate any feelings to it or its outcome. If we win, we win. If we lose, we lose. That's it. We should have seen to our emotional and mental fitness before the trade entry, and not after. This is easier said than done, thats why 95% of people lose.