My X account is called FOREX Sins for a reason.
Looking back at the accounts I blew, the strategy was rarely the main problem. I was. And the mistakes weren't random. They were the same seven, over and over.
I. Greed: sizing up after a good week. One oversized trade can undo a month of careful ones.
II. Wrath: the revenge trade, five minutes after a loss, to "win it back".
III. Gluttony: one more trade than I'd planned. Then another.
IV. Pride: no stop loss, or moving the stop further away because I was sure price would turn.
V. Sloth: not checking the calendar, then trading straight into a news release.
VI. Envy: chasing a move I'd watched other people catch.
VII. Lust: finally having a working EA, then closing its trades early because I didn't like how they looked.
The strange part is that none of these came from not knowing the rules. I knew them. I'd even written them down. I just broke them in the moment, and nothing stopped me until the account statement did.
That gap, between knowing your rules and keeping them, is where most of my losses came from.
I've been working on something for exactly that moment. It's nearly ready, and I'll share it here when it's out.
Until then: which of the seven is yours? Tell me in the comments.
If you'd rather leave the trading itself to rules: EUR FORGE, my rule-based EURUSD Expert Advisor, has a free demo on the MQL5 Market. Run it in your own MT5 Strategy Tester (on a PC):
https://www.mql5.com/en/market/product/198650
