06/03/2021
When a trader incurs losses, like I just did with AUDCAD and AUDCHF (some small USD LONGS as well), the natural instinct is to try to make them back and get back on a RISK position.
It is best to take a step back and figure out the landscape:
1- have the facts changed
2- are the charts damaged and is the thesis negated
I will take a step back for TODAY and look at the charts in the afternoon.
Emotions run high, especially after a loss, but one has to understand that this is part of the process. Losses have to be accounted for and have to be expected. As long as we know what our down-side is and we can control it we will be ok.