Here is mine. My first 3 YM trades went like this. I went long 1 contract and sold it for a 10 point profit in just a few minutes. Wow that was an easy $45. So the very next trade I buy 4 and then the market starts selling off and I had told myself I would sell after a 10 point loss, then a sell program kicked in and before I knew it I was down 59 points on the trade. I could not take anymore and I sold it and received a nice ($1200) loss on one trade. The market then fell another 20 points and I went long 4 contracts and made 22 points on the trade for $420 profit. I ended the day down $735 and I remember it like yesterday.
My first trade on Wall st. was a hourly binary option based on the movement of YM: I bought at 32 and sold at 70. I though as well that it looked easy, and on my second trade I shorted at 12 and covered at 100 taking a massive 88 points loss all in the space of a few sec. I still get the chills when I remember that loss.
Similar story here.. Did two quick trades, just to see how execution works and to get a feel for it. Made just a few points on each with one contract, but also thougt "Hey that wasn't so difficult". On the next trade I went long with two contracts because the market was going down a bit before a news announcement and I thought it was a good opportunity. With the announcement a few minutes later the market dropped about 40 points right through the lows of that day. I got out with a 30 Points loss - just to watch the market recover to my entry level in the following 30 mins.
Panic. Assuming a buy. Its gone way down. Panic. Stoploss. And when its not panic its fear. This fu*king thing is still going down. And when its not fear its anxiety. Its gone up and I've only made a few points profit so I'll take it out before I lose an arm and leg. Answer: give up trading.
"Mental" stop was supposed to be -5 pts on a short. It went against me -125 pts the very same day, ...STILL didn't get out... My broker finally bailed me out the next morning for -113 pts. Had he not done that, I could've came out a winner on that trade. I'm a winner....