Late last night this morning, I have been thinking about my trading. Most of the time I am following my trading plan (90%). Nearly every trade I have followed my risk parameters(99%). I always have my biggest losses when I do not follow the plan to the letter. Either the trade is bad or the risk is too big. The other item is too many times I cut the trade off way way way too soon not giving it time to work. This prevents losses but also prevents decent profits and I mean decent profits.
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I have received at couple of life wake up calls this week that I got to be more discipline in my trading both from the plan side and taking risk side if I am ever going to get my chance to do this full time.
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I want a chance at my dream.
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2 comments:
I think picking the right share size is important. If I go in with a big share size I get shaken out easily, and have to constantly watch the stock. Smaller size allows you to have wider stops, giving you more wiggle room.
I agree with OBAT. With the stars finally aligning I jumped on the TWM's. Due to the large position (versus my usual) I kept the trailing stops at a generous 50 cents. Not nearly enough. Got stopped out several times after nice runups. What should have been a banner day turned into an average day. Good news, I honored my rules and my stops.
Bill
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