Trading while drunk

This is something that needs to be shared as i got caught up in trading while drunk last week and cost me some money. this will never happen again.

* Do not trade while drunk. You need a clear head while you are trading. You would not fight an opponent while drunk. In fact, you might think you were fighting 2 opponents if you did!! Drinking can affect your state of mind in so many ways and can make you make simple mistakes while trading. Many of these mistakes would not be made if you were sober.

* Get rid of all distractions. You need to be able to concentrate on the charts and not get caught up with other things going on. For instance you might be waiting for a trade and then you get distracted and when you come back to your chart you have missed the trade or you buy instead of selling etc. Distractions can be costly. However, life is full of distractions so put the cat in the hall and shut the door. Put the baby in the playpen where you can see/hear her but at least you won't have to worry that she has wandered off again... Whatever your potential distractions are, deal with them before you start to trade. Even a Ninja can lose a fight if distracted...

* Emotional times. If something emotional has happened, and you can't be subjective, then do not trade! This could be any number of things that had a negative impact on your day. It could be that you broke up with your partner to a death in the family etc... You need to be able to assess what's happening in a very short period of time, and if you are mentally elsewhere then this can have a negative impact on your trading account...

Oh yes happend to me already maybe 4 times . Came home opened short instead long no SL or trying to scalp etc... then fall a sleep in bathroom with head in your toilet and when u wake up after 10 hours could be pretty harsch when u open your plattform

I have allready think about some alcohol tester for MT4

lol

I can code it for you

where i mess up i started to drink with a GF and this led to several days of drinking for some crazy reason i wanted to trade, it was a bad IDEA as i lost money last week, i know better

Guys, remember to send 1 to me, I think I need it badly.Every morning I woke up after a drunk night, I wonder who the f*** open a trade and donate my profit back to brokers.

I´im glad that im not alone who need it

dammit, I thought this was going to be a journal of drunk trades.....

On June the 30th 2009 oil mysteriously jumped by more than $1.50 a barrel during the night, to reach its highest price in eight months, the kind of swing that is caused by a major geopolitical event.
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The amazing, true cause of this price spike has now been released by a Financial Services Authority investigation (FSA).
Although not authorised to invest company cash in trades Steve Perkins, a long standing, senior broker at PVM Oil Futures, had managed to spend $520 million on oil futures contracts throughout the night.
On the morning of the 30th an admin clerk called Mr Perkins to ask why he had bought 7 million barrels of crude during the night. Mr Perkins had no recollection of the transactions, and it turned out that he had made the trades during a “drunken blackout.”
By the time PVM had realised the transactions had not been authorised by a client, they had incurred losses of $9,763,252.
Between the hours of 1.22am and 3.41am, Mr Perkins gradually bought 69 percent of the global market, whilst driving prices up from $71.40 to $73.05, by bidding higher each time.
At 6.30am, presumably sobering up and realising what he’d done, he sent a message to his managing director claiming an unwell relative meant he would not be able to make it into work.
Following an official investigation Mr Perkins admitted to having a drink problem, had his trading license revoked for five years, and was given a fine of £72,000.
The FSA have said that they will re-approve his license after the five year period, if he has recovered from his drink problem, although they warned that “Mr Perkins poses an extreme risk to the market when drunk.”
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