When the 'just one more' trade becomes 'just lost more'
I had a decent run going on $EURUSD early last year, everything was clicking. Then, against my own rules, I decided to take one last trade before shutting down for the day, feeling invincible after a string of greens. Saw a quick wick on the 15m, thought 'easy scalp'. It wasn't. That one trade quickly spiraled into a series of revenge trades, each one digging the hole deeper until I'd given back a significant chunk of the week's profit. The market, as it often does, decided to teach me a lesson about hubris and sticking to my pre-defined limits. Never underestimate the power of a few bad decisions in a row to wipe out careful work.
Ugh, the classic 'one more' trap. It's so easy to fall into when you're feeling good and your guard is down. That sudden turn of fortune can be brutal.