Monday, August 9, 2021

Arrogance bites

Got bitten by arrogance today. Known scenario. Win streak, big gains... think I'm invincible (arrogance!) so I go bigger. And lose. Because it's not clockwork. 

Hacked around in AAPL and COIN for close to max day loss. I wish I didn't let it go that far, but that's what max day loss is there for.

Only win was second try at COIN. 

Talking with my trading buddy about losing days:
On days when I'm up, I find it very easy to look at my picks and say, OK, what I thought would happen has played out or expired. So I'm done. 

Why do I find it more difficult to see my picks aren't working, that I've lost money trying, and to draw the conclusion: These picks were a bust, they didn't behave as I hoped. So I'm done. Maybe I need another mantra of clockwork trading to remind myself to notice and walk away from a busted day. 

Tomorrow, don't stray from success. Just stay the course of clockwork. That's why I made the mission control sign! To remember the keys to consistently profitable trading...


Small size

Tight stop is the right stop

Pay yourself first





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