PREMARKET THOUGHTS
I wonder if I've become too focused on my p&l, at the expense of good chart reading. I always want to take the pltgt, that's my bread and butter and it's part of my psychological strategy (as long as I heed it!!)
What I'm thinking about is maybe I've been setting orders for the back half based on option price and not stock price. Too scared of giving back that I miss a continued trend. Should I squeeze stops a little less tight? Should I take the back half off in 2 chunks instead of 1?
Am I losing confidence because of an inside day yesterday that I traded too aggressively and took a loss?
It is good to shed some of the confidence I build over a couple of stellar days. Stay humble!
AFTER MY TRADES
This morning (ignoring how far I rode in the wrong direction) on GOOGL and BA I tried to use stock price levels more than p/l levels. Technique is to trail stop, but wait for the price triggers. Today it worked great. Not sure it's made for every market.
