The Perils of 'Just One More'
Hey everyone, been lurking for a bit, figured I'd finally jump in. New to the forum, but not new to the market – been trading FX and some equities for about seven years now. My biggest lesson, and one I still have to actively fight, came early on and cost me a pretty penny: overtrading. I'd be up on the day, feel good, then see another setup – maybe a $EURUSD scalp, or a quick pop in an equity I was watching – and just had to take it. Often, that 'just one more' trade would erase half the day's gains, or worse, put me in the red. It was classic ego, thinking I could just keep hitting winners. Now, I'm super strict with myself: once my daily profit target is met, or if I've hit my maximum allowable losses, the screens are off. It's hard to walk away sometimes, especially when the market seems to be giving away free money, but respecting that boundary has probably saved me more capital than any indicator ever could.