Friday, January 15, 2010

lost discipline

wow, i have been doing great with discipline. setting stops, not taking on large share size, and then for the first time since i have been trading, i got angry at the market. i was long POT, got shook out at the bottom tick, so i went a little haywire. then i bought and sold way to much POT and X. X drove me nuts because SPY was popping and this stock just stalled. i couldn't believe it. i thought for sure it had to run up but it didn't.

then i think i shorted the low of the move. blah blah, back and forth. i just can't lose money like that. it is one thing if i was making 1000 a day, but i barely make a 100. and instead of leaving at lunch up 60, i trade myself down to -275. holy shit, i can't believe it. i totally lost my focus and discipline. i will put up the charts later.

i think my problem was i traded myself back from -100 a few times now, so i thought i could do it again, but this time it was by trading larger share size. dumb dumb dumb. i had a nice day going, and i had a nice trade going in WLP while i lost my mind.

my stops being taken out is what drives me nuts. is it that obvious where i put them market makers take me out. and i thought X would take out the highs around .58 to screw all the shorts above that level, but it didn't happen. i ended up getting screwed. need to take a long hard look this weekend back on all my trading.

This chart is fitting to be first. I am getting right to the climax. Instead of just holding onto a good trade, as we see below, I got out of it while i was trying to make my day back in X or POT. meanwhile, if i would have just hung on until the close, my small position size, correct stop placement, and good trade would have brought me to break even.















































































































































































































































































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