I had been seeing the market so clearly recently I was assuming one of these days I was going to do good. Instead today - I decided to break my rules and trade like a complete idiot. About six months ago, I started using some trend indicators. I promised myself I would never trade against them. The closest I would to trading against them is trading pullbacks in the trend. Most of the time I would just trade continuation trades. Today I traded twice trying to play rollovers in the trends. Stupid me. The trend was up on a 5 and 15 minute basis, about ready to turn up on an hourly and mixed on a daily. To then add insult to injury, I tried trading a stock but my mind was so f-ed there from the idiots trades, I turned a possible winner into a loser there also. Today, I did not lose a lot of money, but it was my worst trading day in months and it killed my gains for the week.
1 comment:
Denarii,
Good post, I can really relate to making the bone head trading errors, and then compunding the 1st error. I'm not sure if it's my over confidence, or a fear of being wrong, but I have a tendency to over trade even after I have made a profit, too often I have given it right back to the market.
soon I plan on putting together a post about how psychology and money management need to go hand and hand.
- Trin
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