I took a trade and immediately the phone rang and it was a call I had to take. I saw the trade going against me and didn't have a stop in the market. I got distracted by the call, noticed the trade had moved even further away, but felt I still had my setup in place, but it was past my normal stop out. Finished the call and had a really stupid crap trade in my hands. I sat and worked it back to a 230 dollar loss. It actually went into profit if I had held. That naturally pissed me off. I then immediately got into a questionable, for me, set up trade that again went against me. I let it go because I knew it would come back, revenge frame of mind had taken over. I ended up taking a 105 dollar loss and watched it go into what would have been profit after that.
At this point I walked away for a few minutes to collect my thoughts. I have now gotten back to down 87 on the day. I'm frazzled and thinking I may just call it a day. I'm up on the week at my usual size and no reason to make any more stupid trades. It's easy to think I'm good and just go back to what I know works, but I also know I'm still ticked off at my stupidity after all these years.
I should have closed the trade when I knew I had a call I needed to take and eaten a 100 dollar loss at that point and come back to the markets after taking a breather after the phone call. I didn't and my frame of mind is screwed at this point.
Yes, I am hoping typing this out will help clear my head and maybe serve a lesson to someone else. I've been at this 17 years and I still screw up on occasion. It's what you do with it after that will keep you in this business.
Peace
