I haven't been reviewing my trade and keeping the journal this week. Not good. Anway, I started out slow with some small losses and now today I finish with my 2nd net positive week in a row, which also means that starting next week I can trade 200 shares if I want to.
Wednesday there was a scalp trade on a huge print down that I hit I got a 65 cent profit immediately and I marketed my order out and took it like if it was going to disappear like a puff of air. Looking back, if I had waited just a little bit I would've seen that it was going to trace back eeven further to over a whole point. By noon I was easily topping my best day with just maybe 2, 3 trades. That wasn't exactly a good news. Feeling confident, maybe even too much so and letting my success gone to my head, I tried to trade the BSC news that there was going to potential investors including Warren Buffett. Well, I got my butt kicked couple of times in that stock going different directions and luckily I still manage to have an up day. Really, if I didn't have such a good morning, I might've still traded BSC but after I get smacked once I would've stopped.
Lesson: DON'T TRADE NEWS STOCKS!
I think this share size upgrade give me some validation... I want to start talking to other traders more. Pick their brains a little. See if i get some tips or trading strategies.
What I want to learn right now: MACD, Fibonacci. I need to finish Reminisces of a Stock Operator and start reading some more relevant trading books on say technical analysis.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment