Close Call - 2 Days +0.4%

Wheewww! I shorted into a much too strong upward movement yesterday that continued for another 30-50 pips. My trade was in the red most of yesterday by over 250$.

In my mind I was already thinking, the first trading day of the month is always catching me on the wrong foot or maybe I just go into the month with more appetite for risk.

I just didn't want to close the position and decided to roll. I thought if at least I've shown the self restraint of not increasing the little bugger, then I should have the right to see where he goes tuesday.

Even though in hindsight, it would have been smart move to load up another 100k around 1.4420 or above and wait for the (in my mind) highly likely testing of 1.44 - where I could then get out with a net 10 pips profit. Instead I've had 3.5$ roll cost and a profit of 175$ so a net for the 2 days of 171.5$ (which is better than 10 pips :P actually 17.15 pips).

I ask myself: Is it really bad to double up on a losing postion. I guess it's like with most of my trades. It will work 75% of cases, but when it DOESN'T it will cost me 5x as much maybe. And temptation for 3rd and 4th lot would suddenly pop into my mind.

PS: Below is in different colors today because yesterdays trade wasn't in my usual trades overview - it being overnight etc....