Woke up at 5am. Was at the office by 6am. Tried to trade carefully prior to UK’s Quarterly Inflation Report at 10.30am. Attempted two breakout trades on Oil – both lost. Seemed like terrible trading. Had a scratch on the DAX following a bullish 123 pattern.
Confidence fell to a long-time low after that. Looked at the charts and couldn’t see anything. Left office at 11.30am with very few words to my colleagues. Spent a few hours sitting there staring into space, not sure how to proceed. [Note added 27/12: Investing all my emotional capital into trading, without providing balance in my life (e.g. sport, hobbies, friends, relationship) is a high-risk strategy. If the trading turns sour, then there is little left to catch my fall – nothing to balance things out. This can quickly lead to me as the trader being paralyzed and shutting-down. This is far worse if it occurs whilst I have open positions in the market, and am not able to decide what to do with them – Trading Psychology textbook Chapter 2]
Went to a Traders Club Seminar from 3-5.30pm at Alpari. Just listened in. Made me realise a couple of things I am not aware of.
Talked to sister and a friend, explaining to them that I was having a pretty tough time with my dream/goal of becoming a successful trader.
A further blog post with “Trader Shut-Down” was on 3rd December.