12-18-13 UK Paper 6B - CAN of WHOOP-ASS ... !!! How NOT to Trade: Not following rules $ (-1,087.00).

CAN of WHOOP-ASS ... ... !!!

Well, today was a MAJOR can of WHOOP-ASS from the GBP !!!

As I have faithfully reported all my GOOD positive trades and efforts, I must TOO 

report the very BAD & .... THE UGLY !

If this is not an example of how NOT to trade, don't know what else is. 

I need to definitely fine tune a trade-plan
to use a "pilot-like check-list" of checking news similar to my morning pre-trade chart levels preparation. 

All of my paper and replay gains annihilated by this debacle. 

True, there is still the NY session but it is likely to be slow as Christmas week is upon us. 

Recovery time for this one will be long ....... especially when aiming to make a 100-Trade analysis before the year is out. I will definitely learn about recovery possibilities and obeying rules or paying consequences.

• 2 trades
• doubling up
• not following rules
• revenge trading
• $ (-1,087.00) loss
  

The Trades ...

Mistakes Made ....

• Missed ATO. 
• Did NOT check news AT ALL !
• Spanish and multiple GBP news event reactions.
  
• Tried and Failed X5 methods 
• looking at roadmap rebound and/or X5 confirmation for return down
• Revenge trade was the final knockout punch 
• Doubled up trying to recoup
• DESTROYED by The Market ! 
• Definitely  how NOT To Trade !!
• MANY LESSONS to be learned from this one !
• If had followed normal ATO rules, would have been ok for chase-the-trade

The News

• If I HAD checked the news, it may have been a different story. 
• MANY LESSONS to be learned from this one !
  
  

GBP news reaction, off and running, 

blowing through levels  ... 70 pip move from ATO level

EUR-USD had a similar opposite reaction, 

but not as powerful in its run ... 20 pip move

ATO would have worked easily on both pairs ....

The Financial Destruction in a month at this rate ....

Next to blowing up a live account, this is painful even to look at .... granted, I would likely never go a whle monthe with this level of losses.