Traders are hunters. Hunting can be very exhaustive sometimes. After a few failed attempts, you are not only exhausted but hungry as well. When you are not in your tip top shape, you tend to make more mistakes.
Let me show you one mistake I made today when I was “hungry”. I picked my prey this morning and ambushed it. It was all good. The prey never struggled. It looked as if it was totally dead after a while. While I was preparing for the nice food, it jumped up and ran away. I was too “hungry” to remember pinning it down( moving down my stop loss). Once it started running, I kept telling myself that it was wounded and it would fall on its own. It never happened. It just kept running and running until it totally disappeared.
That was a fat one. If I had moved down my stop loss, I would have had 300 at least. You see I was so “hungry” that everything looked like a buffalo to me. Why? it was because I wanted one badly after being hugry for so long. It was hallucination. A smaller one such as a deer, a goat or a gazelle would do just fine.
Anyways, I caught a gazelle in the afternoon.
Short BID [Sotheby's]. Click on the image to have a better view
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