Learn From My Mistakes
I have only 5 minutes but let me share my "blotter" with you today.
CF $225
VMC $95
UBB $49
DE $41
BTJ -$5
MOS -$14
POT -$56
AAPL -$61
IOC -$85
FSLR -$110
CMI -$3857
I started buying CMI at $114.50 and I really didn't "let go" of those shares until $111.
I broke every "trading rule" I generally have followed in the last couple of weeks, most notably, adding to a losing position.
So I paid.
You cannot trade if you don't follow your rules.
It was like I entered an alternate universe while I was involved in the trade and I could only see clearly again now.
Basically, you cannot be successful at this job making small money here and there in between gigantic losses.
Math comes back to bite you in the ass in that matter. Math doesn't lie.
2 comments:
Sorry to hear your loss. I was surprised the toad was so useless today. Yesterday it was simply on fire.
I guess we always have to keep the market in mind. SPY is at the top its recent range. It gapped down today and could very well go back to the bottom of the range. Who knows.
Win,
Yeah, classic mistakes I made in that trade.
Learning more and more about what a slump is all about. It's interesting, but no fun.
Hopefully in the end I gain some more understanding and appreciation when my chart bottoms out.
Thanks, DT
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