Subby puts in a call to NeverAgain...
NeverAgain: Hi Subby, how are things?
Subby: Not too bad. The info you emailed me about my Trading Personality was very helpful. Plan to read it again later today.
NeverAgain: Great! So what can I help you with today?
Subby: Well, I think I have run into one of those ego defense mechanisms you mentioned some time ago.
NeverAgain: Oh...?
Subby: Yeah...I saw DoingWell's setup but I was late. Also, I didn't really take the time to "feel" the market or really observe where things were. I was just hoping to get some pips I guess. Anyway, I got in on my thoughts again...and ignored what I was seeing. That hope mode you mentioned locked me in.
NeverAgain: So what's the situation now?
Subby: Well, I was able to place a trade in the right direction (which I closed too soon) and get some pips.
NeverAgain: What about the first trade that you didn't take your time on...the one you were also late on the entry?
Subby: I'm still in it. Don't know why. I saw price turn, but just didn't want to believe it or accept it I guess.
NeverAgain: Wanna know why?
Subby: I better...can't keep trading like this...
NeverAgain: It's your ego. You don't want to be wrong. Make some notes to yourself and see how best your can salvage your account. After all, that is the bottom line. When you're done and feel like talking some more, give me a call. Okay?
Subby: Okay. That's a hard nut to crack.
NeverAgain: Yes it is. Don't feel badly; don't beat yourself up. Just settle down and take care of business like you know how. Talk to you later.
Subby: Later.
Subby gets back in the saddle and tries to find his way out of this mess.
We'll pick it up later when he calls NeverAgain back.
FX4
NeverAgain: Hi Subby, how are things?
Subby: Not too bad. The info you emailed me about my Trading Personality was very helpful. Plan to read it again later today.
NeverAgain: Great! So what can I help you with today?
Subby: Well, I think I have run into one of those ego defense mechanisms you mentioned some time ago.
NeverAgain: Oh...?
Subby: Yeah...I saw DoingWell's setup but I was late. Also, I didn't really take the time to "feel" the market or really observe where things were. I was just hoping to get some pips I guess. Anyway, I got in on my thoughts again...and ignored what I was seeing. That hope mode you mentioned locked me in.
NeverAgain: So what's the situation now?
Subby: Well, I was able to place a trade in the right direction (which I closed too soon) and get some pips.
NeverAgain: What about the first trade that you didn't take your time on...the one you were also late on the entry?
Subby: I'm still in it. Don't know why. I saw price turn, but just didn't want to believe it or accept it I guess.
NeverAgain: Wanna know why?
Subby: I better...can't keep trading like this...
NeverAgain: It's your ego. You don't want to be wrong. Make some notes to yourself and see how best your can salvage your account. After all, that is the bottom line. When you're done and feel like talking some more, give me a call. Okay?
Subby: Okay. That's a hard nut to crack.
NeverAgain: Yes it is. Don't feel badly; don't beat yourself up. Just settle down and take care of business like you know how. Talk to you later.
Subby: Later.
Subby gets back in the saddle and tries to find his way out of this mess.
We'll pick it up later when he calls NeverAgain back.
FX4