Monday, August 22, 2022

Bad entry reduces gains

Here is another case of me jumping in too early and reducing my potential for gains. 

If I would have entered at 9:49 or 9:50, I may have gotten approximately the same entry price, but without the heart attack, though it did do another spike there at 9:55. 

Another thought about this setup: While I do think it's a valid gap below ST level, It is also the 4th consecutive down day and maybe it was not optimal in that way.

As this got back green for me, it also lost some momentum and I found it very hard to hold. I messed around with targets and trendlines, yanked stops, yanked limits. While it traded mostly flat from 10:30 until I gave up at about 11. UGH!! I just didn't want to go red again, so here I am with pretty small gains. But green. And I've released the stress of it.

Aside, a LESSON. I am pushing sooo close to a milestone account number. I think I may be trading extra-aggressively to try to ring the bell. But consider: extra aggressively should include waiting for great entries!













Update, after close.... If I would have held on for the consolidation, the next leg did come. Pltgt, Price Target, etc, etc. ... Would have been a tough hour and a half or more. That's a case (especially on a Monday) to set bracket order and walk away.



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