I keep making the same mistake over and over. Either I do not have the guts to enter a trade or I did not have the gut to stay in a trade. I thought I would have different results today. I would be damn if I was going to leave a trade early. I bought AKS and set my stop and walked away. Ten minutes later my stop was hit. I entered a trade in STLD. It went up a small amount and then just stayed there for about 10-12 minutes while most of the other steels marched a head. I got out. A minute or two later, it runs a good 40 cents. I shorted the YM. Sledom does the YM stay in a small range but I up 5 ticks then down 10 ticks then up 10 ticks and then down 14 ticks. It came back to my back even point and I got out. It did not stop at my B/E point. It just kept running. Before it stabilized, it had dropped nearly 40 points.
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There have 3 other trades I had orders in that just missed were I would have taken no heat on them. Am I blaming the market makers, no! Am I blaming my computers, no. Am I blaming the weather, no! Am I blaming anyone other than me, NO! I put the orders in. I determine how much I am willing to lose. I determine how long I stay in a trade.
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It is just really frustrating seeing that my trade selection has gotten so much better since I started this and my own damn head is the problem keeping me from making good money.
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The numbers:
Stocks: gross -65 net -74 shares 1800
Stock Futures: gross +70 net +55 contracts 6
Other Futures: none
Forex: none
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1 comment:
It's a process and you are getting better over time. As your confidence grows in your trade selections you will be able to give them the room they need to work. Keep it up.
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