Have a break.

Two days of losses...

1. Yesterday, my EURUSD trade was closed at stop loss of 129 pips and it cost 3.2% of my portfolio. It was one of the case where i ignored the price pullback range and set the stop loss too close. Got caught in the reversal as unfavorable news also aided the reversal of trend.
2. I made a mistake today forcing a trade even when there is no clear signal. Entered a short position for GBPUSD at 1.4190 with a stop loss of 100 pips, again ignoring the price pullback as well as the indicators. Lost my focus and my mind and it erased 2% from my portfolio.
   

This 2 losses has dented my confidence. The best way to recover from that is to break away from trading. Regroup my mind and re-adjust my mindframe. I hereby declared 4th of February 2009 is a non-trading day.

See you on 5th of February 2009.

Cheers.