Just bear with me for this one. Sometimes it's tough to be completely honest with yourself, but it's important that you do. Otherwise, you will never improve.
At the moment, I'm sitting on losses in my EUR/USD trade. Even though I was in profit at one point, it wouldn't have meant much even if I won the trade. Because I would have won it the wrong way. Better to lose the right way, than to win it the wrong way.
Mistake 1: Choosing to see what I wanted to see
For example, take a look at EUR/USD. The "M Formation" doesn't qualify because there are too many peaks within the "M". But I chose to view it as a "M" so that I could quickly make back my losses in CHF/JPY. Moving forward, I will leave my trade on until I get stopped out.
Mistake 2: Adding on another position without planning for it beforehand
Yes, it was an impulse adding of position, and at the worse possible price. I added a short almost at the lowest point: 1.42628
Lessons learnt: Be objective and stay out of the market if I'm emotional after losing a trade.
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