I´m in a bad circle, full of adrenaline when I buy something that looks like there will be a spike in an uptrend. It looks like I hit the top every day. It use to end with a sale a little later, with a loss. As recently as today, there was an impulse buy, EFUT, in at 17.10 in something that looked like a small dip from intraday high 3 minutes earlier. I could have sold at 17.80 3 minutes later, but chose to keep it a little longer, in my belief that this may continue it´s uptrend. Then it went down, and when I did see 15.20 I thought that now I stop the loss before it start to be really big. I took the loss, and the stock turns up again, I could come out breakeven 30 minutes later. I had many chances to buy in larger dips later, and could really have done 10-15% if I had timed my trading better. Frustrating to watch, I have to get more emotional control over my trading, do not buy such shares late in a morning spike and think they will continue their uptrend.
I have 50 hours + with dvd´s to watch, maybe I should cool down, watch more dvd´s and study timing, I need to study more:-)
Happy thanksgiving everybody:-)
@Redwine yah that only happens rarely, otherwise stick to buying breakouts or dips at support, not randomly and not midrange
@timothysykes Today is over, and I have to use the weekend to study more charts and see if I have learned something at monday... Maybe "paper trading" is a solution of a while.
Or maybe I need a crash course.. I need to learn.
Why did you buy the stock? What thesis did you have? Did you go too large to where you could average down? What was your trade plan when you entered? What did you see to make you enter at $17?
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