For some reason I was trading scared today. I traded in a very defensive way. I did not want to lose any money. Whenever I was in a trade I found some reason to get out. I messed up three trades which would have been very nice. I ended the day with $70.
5 comments:
defensive trading is good, making $70 is way better than me, I lost $1000 today
Man you caught some wild ones today.
Yeah, but I was such a wimp. Kept worrying about losing. Tomorrow I will focus on following my plan instead of trying to out guess it.
take ur triggers- figure out where ur 1R loss is, then say "I can't wait to be stopped out of my stock." gets rid of the fear for me. missing triggers like wy is tough- happens to me all the time- sometimes if it looks good but im .20-.30 late- ill drop the chart down to a 5min or even 1min and try to buy a little flag/consolidation spot. what makes this stupid game hard- easy looking back at a 'perfect' chart but when the bullets fly its a different game.
p
As a professional trading mentor, I always tell my students to "Stay Out When You Stay Scared".
Post a Comment