Grambo

Well looking back on July I honestly had two really large losses I just couldn't come back from for the month. Both of them bonehead trades--chased one and got burned massively; got greedy on the other to hold overnight to avoid a day trade. My overall goal this month was to make money... of any amount. Although I failed, I feel this month has shown me what cutting losses really means. When you are wrong, you are wrong and the market just doesn't care what I think. The market is going to market no matter what I want. I also really saw the power of sympathy plays and the value of multi-day runners. I saw the power of good price action with news and why good price action without news is riskier. I learned to wait for my entry (by the end of the month) rather than getting in just to get in. Waiting changes the chart and presents a higher success rate when support proves itself. I learned not to try and guess a short position... Waiting for the FRD and shorting the bounce is far better than "nailing the top". Two goals this month... Same as last month, I want to make a profit of anything. Any profit. The second goal is to discontinue buying stocks during extended hours (unless it is PM and really big news just came out) I will continue working on my position entry and continue to cut losses quickly. Word on the street August is a slower month so I need to trade like a sniper! Here is too August!

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