A lot of people have done well trading the short term systems this week and I've received a lot of email from people who are really impressed with their own performance. In one of the chats that I was in this morning, I heard someone say, "We all have to watch out for ourselves. We're getting a bit euphoric about all of this, and that can lead to problems later."
When we have trading euphoria, we start to trade huge lot sizes, take too many trades, and we do it all because we think that we are unstoppable. And we feel like we have a bunch of pips that we just earned, and we're going to take those pips out for a ride. Next thing you know, we've ridden them to the garbage dump.
Keep your gains! Keep your gains! Gaining pips is easy. Keeping them is tough.
