Hold your balls, emotional range madness just took over your command center

Every momentum trader has experienced this scenario. You are waiting for a nice technical level to be broken. You are counting seconds and you do not want to miss the entry. You are a momentum trader (for some scalper) and the right timing is one of the most important things of your trading style. The price is slowly approaching your level and you have a finger on a trigger – you are ready to fire . 3 . 2 . 1 . goooo here it goes – you load the boat and observe your position. You know where your SL and TP are. You are sure that the level was good and you are certain that it has to reach your target price within seconds. Well, you are wrong. The position is not going anywhere for few minutes and then reverses its direction so strongly that you suddenly thinking – Geeee, I have not noticed this other level. You flip the position thinking – well the first position did not work out but this is sure thing now. Suddenly AGAIN the position reverses the direction and heads your initial direction. You follow it again thinking – NOW IS MY TIME. It is time to go HEAVY and you load multiple positions. Suddenly, … well you know the rest. You are in red feeling like a used whore after cocaine hangover with torn anus.

Welcome – you have been just a part of emotional ride which I like to call "RANGE MADNESS" with market providing just the right choppiness so you can fall into this trap. But it has a catch: this trap is not THE MOTHER MARKET but most certainly your EGO and EMOTIONS playing around with you. So what to do in a time like this? What to do in a time when you want to be resilient and strong but you are just falling for traps. First you need to know that you are having such a problem. Here are few guidelines and questions I use:

1. Am I increasing size? Why? Is it because of the good position or because I want to make it all back? If number 2 is right, I have a problem!
2. Am I changing directions in an instant (from LONG to SHORT in a blink of an eye without planning)?  If so I have a problem!
3. Am I taking the usual breaks or I am glued to the screen? If so I have a problem!
4. Has my view changed and is it now all just about P&L? If so I have a problem!

There is more but these are the most important one. The most important thing is to step back, zoom out the charts turn them upside down – do whatever would slap you in face to wake up. To be in the moment not in the emotional past.
Trade well.