Big Stupid Mistake

When a trend is getting towards the end, do not make a big trade.

I got a little impatient with my account deficit and thought I'd try trading a million in the hope that I would make big bank from it... I thought I had found a great downtrend with the CAD/JPY and so I took a short position with $1,000,000. It went well for a while and I started to make a nice profit, then I had to go grocery shopping and so I left it with a stop loss that while it was pretty low (around 15-20 pips) I thought there was no way it would get triggered unless there was a trend reversal.

Well... as you can probably guess from the title of this post, it all went horribly wrong!

I've just logged in to see that after continuing to fall, the price had a sudden spike which triggered my stop loss and kept going a bit higher, then it fell rapidly again.

I've taken a couple of screenshots which will hopefully remind me someday how much of an idiot I was today!

Close up view showing where I opened the trade and where the S/L was triggered.

Chart showing the trend and where I opened my trade and where it was stopped by the stop loss.

Related

1. Easy Come, Easy Go... the story of my trading life
2. Always Wrong
3. What a quick way to lose money!
4. My Current Status
5. DAMN I SUCK

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