due to recent fed rate hike, us 10y treasury bonds keep bouncing around the critical level of 5%. this elevated return, according to my online research, should be a bearish signal for the majority of financial assets. gold can be an outlier in this scenario because has been historically used to hedge inflation.
initially i placed a limit order at 2590 with a take profit at 2400 and stop loss at 2650. after placing the order i stayed in front of the computer watching the market. this can probably have been a mistake because after watching the price action slightly going in the opposite direction of my trade i chased the order and got filled at 2574.27. i did not chased the order immediately. before i tried to move my entry price and stop loss down in hope to get filled. i moved them both to keep my risk reward acceptable. after a while the price came back to 2590. i am starting to wonder if FOMO played a role here. but how can i be sure that the price would have been rallied up again. as soon as i wrote it i realized. i cannot be sure. ro many variables are involved. so many that people say that markets are kind of random. i disagree with that. they are not random. our mind tries to simplify things that dont understand and for laziness and for the need to stay in control, labels complex behaviour in this way.
i think that in order to be a succesfull trader i need to acknowledge, embrace this and make it my own. i am starting to think that it kind of does not matter that i moved my entry. sometimes it would have been the better decision other times, like in this case, it would have been worse, economically speaking.
but for my overall energy and emotions i think would have been better just to leave at 2950. i noticed how stressfull was that moment where i kept looking at price action and seeing continuing go up and down take a real mental toll on me. i have been seeing videos that talked about it and kind of laughed about it thinking that people experiencing it were kind of weak and not suited for trading. i realize now that the struggle is real. emotions are expensive and need to be quantified as a cost if i want to take this seriously.