I have once again become a big chicken. If you are going to make money, you need to risk money. Today was a great example of that for me. Since I took the little hit on Wednesday, the fear of losing has over taken my greed. This can not be. I need to get back into a more aggressive mode. My planned trades have been hard to make money from but if I followed the rules, I would be ahead by a lot instead of having a crappy month.
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I printed out each of my planned trades this month and wrote notes all over them reminding myself if I keep my head and use the risk factors I need to, I would be making money.
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I freaked out of so many trades today it was not funny. I did not get short when I planned to on the above stocks and I did not go long them as planned. I missed 30 and 50 cents moves in AKS. I missed at 70 cent move in MOS (nice call DT). I missed break even trades in MT and JOYG. All these stocks I had orders in that were filled or should have been filled and I should have let play out. Instead I had a couple of 3 cent gains and now I can treat my loved one to a nice dinner at Mcd's.
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Idiot Idiot Idiot
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I need to get myself pissed off at myself, review my mistakes (in the process now) and remind myself that I pick good trades most of the time and I WILL be a successful trader if I follow my plan.
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The numbers- Gross +60 Net +25 shares traded 5000
1 comment:
Hey,
MOS was good, but once I saw that news about the "unconfirmed takeout" it was basically "confirmed" in my head and I held too long when I should have sold. A really good winner became a small winner.
Get em tomorrow.
-DT
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