What Kills Our Setups?

Revenge shouldn't be our reason for trading at all. People are probably looking at me and thinking... what are you all "We're from New York and our women are more alpha than your men" for? Do you seriously think you dictate prices because you made a few hundred pips? What about the ones you lost?

However, it's hard not to want to sell when you've been left out of a nice uptrend because you refused to pay 20 pips more. It's even more frustrating to be left out of a countertrend play because of 5 pips. Make that 5 plucking pips. And you know what's even more annoying? I was totally the Trendsetter / Go-getter / Farm-better on this GBP/USD uptrend and I plucked myself by getting fraidy.

So, I've been thinking... what's killing our setups - besides ourselves? What makes that setup work perfectly well one moment, but then leave you gasping with exasperation the next time around?

This previous week, I nearly got run over by two bikes. Seriously. Forget the FWF license-plated cars. In any market, there are careless bikers who don't care if you're GWB or BMW, they just want their 10 pips whether this setup is a De Facto Gold Diggin' Bearish Divergence Stellar Setup that should normally command a 100+ pip move or not. They bought their lot at the right moment and they're going to be Happy Shiny Profit Takers before you get your hands on your 50 Cent.

I used to be happy with 8 pips. Well, whatever, I used to be happy with 1 pip. LOL. But now, I realised it's actually much easier to go for more pips if you can get in at a low risk moment.

It was a nice time to trade last month. There was a lot of give and take. You could have made money trading both sides on GBP/USD. And I was bullish one moment and bearish the next. I traded every divergence I could find. But now, I'm wondering out loud... am I being arbitraged? Bold that.

Because if I am, then I'd need to look for another pair before I go down with this trendship with benefits.

And I promised myself if I get too emotional about GBP/USD and start thinking about how I'll be moving in with the Guys of London and how we'll have a Little House on the Prairie and I'll be all Junk Bond Queen cooking up Gordon Ramsay dishes in my Agent Provocateur, I'm going to look at another pair.

If anything, objectivity has saved me this month.

For now, announcements are heavy on the USD side this week, so this means I'm going to watch my levels like the proper young lady that I am - you know, the chaste, Hermes Kelly toting kind.

This market is hunt or be hunted. It's as simple as that.

My inner voice of reason says: keep the TETSOB in check, ensure your Guerlain Meteorites powder's dry, and switch to a fixed stop in this neck of the woods.