Last night I committed the unholy error of trading a period outside of my plan. I trade binary options on the EUR/USD from Tuesday to Thursday. I trade for either the 11:00 am expiry or the 3:00 pm expiry. Last night I was up looking at the data coming through the NADEX and thought I had done enough analysis to take advantage of a trade opportunity.
I should have listened to the little voices.
Pushing back on your own plan with a contrarian view every now and then is one thing. But remember, contrarian views are typically wrong most of the time and should not be given disproportionate weight relative to a plan that you have thought out over time, learning, and error.
Next time, I’ll just read a book and turn off the candlesticks. Maybe I will take a lesson from Jesse Livermore.
Alton Drew
22 August 2025
In need of an advocate before the Board of Governors of the Federal Reserve or the Commodity Futures Trading Commission? Contact me at altondrew@altondrew.com
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