Lesson Learned: That Time I Scaled Into a Falling Knife

Hey everyone, just joined. Been in the game for about 7 years now, mostly futures and spot FX. The biggest lesson that still stings from my earlier years was trying to 'average down' on a collapsing $EURUSD position during a news spike. What started as a small, reasonable stop loss became a spiraling nightmare as I kept adding to a losing trade, convinced it had to bounce 'any second now'. It blew a significant chunk of my account and taught me the hard way about sticking to my initial risk parameters and respecting market momentum, especially when it's against you.