*Right Click Chart, Open in new Tab* |
Then when I felt comfortable that this stock was on my side and I felt like taking some profits, I was ready to cover 1/2 my position and let the remaining 50 shares ride the slow bleed all the way down to the $10 range. And what happens? Instead or purchasing 50 shares back, I purchase 500! I was like HUH? Not again! I panicked and covered my entire position, still made $35 bucks though, but now I incurred commissions on 1000 shares which cost me $5 for no reason!
Then came trade number 2, this is what really made me mad, after my first successful trade I really didn't feel like trading, I honestly didn't, I was happy, I was doing my review and just zoning out. The Chat room that I am in called a play, I missed the play because I was so delighted with my own trade, I thennnnn entered the play late.
I BROKE my own rule: DO NOT ENTER TRADES LATE
I felt like a kid left out, I wanted more money, greed took over. This second trade did not go good for me or the chat room, I have nothing against the chat room because experienced traders know there is no such thing as a wrong trade, as long as you follow your plan, every trade is the right trade. But when you DO not follow your plan, you lose your mind, money and also control.
What I learned today: Follow your Plan
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