I had a few-day losing streak. I should blog the losers of course, but I'll teach the lesson instead.
Greed leads to losses. Greed makes me wish for more, when I should take it. Greed makes me give stops too wide and lose too much on losers. Greed is for losers.
It started with NFLX on 1/14, which dropped a few dollars before I could even get a stop under it. Instead of just taking the 40% loss, I stopped only half and tried to hold the rest. Over several days, I passed on the opportunity to take "only" 40% loss again. Until today, I had to really eat it for a 90% loss. Why not just take my chances on the last 10% and see if maybe something works out. THAT IS THE BAD ATTITUDE THAT STARTED THIS MESS. It is toxic to shift to a "luck mentality."
How will I turn this around?
I must not trade tomorrow.
Monday market is closed.
Tuesday assess my mindset.
FAST OPTIONS TRADING. Fast in/out. Apply trading rules like CLOCKWORK. Have a day. Sleep at night. This is my personal trading journal*.
Popular Posts
-
This year my trading vision will be 2020. Cliche of the year, but it is my goal. I want this to be the year that I solidify my skills into...
-
Frustrating day. Small position size helped me not destruct, but I got chopped on Z and DDOG that cost me. I think I did trade like clockwor... -
Trade my best setups or PASS. WAIT for pivots to stop against. Take MY PIECE. Peace. Daily setup : Volume screen mover. The daily setup ... -
LESSON! I have a consistently profitable system. When I trade like clockwork I rake it in. When I get "too smart" I get whacked. ...