Well the last week and a half has sucked. I can’t seem to win and I’ve given back all of this month’s gains.
But with trading it is important to not dwell on your mistakes. Learn from them, but you have to get over it. Trading is all about psychology and you really just have to roll with the punches and do the best that you can. Otherwise it is mental torture.

I’ve realized that I am not paying enough attention to the daily charts. I have been mostly looking at the intraday chart. I believe this is a mistake and I now plan to put more focus on the daily chart. For example, today the ER2 opened very weak with volume - so it looked like a down day and I got chopped up trying to play it that way. However, if I had looked at the daily chart (which I will post later), I would have seen that the ER2 bounced right on its trendline. Starting today I will post a chart of the IWM every day, with trend lines and analysis.
One thing I have learned about life with trading is that you can’t really control yourself 100% of the time. It’s just impossible. You will eventually do something that you would rather not, or something that you regret. This doesn’t mean that you shouldn’t try to control yourself. It just means that you shouldn’t expect to be able to control yourself all of the time. Keep trying, and do your best, but understand that you will make mistakes.

This entry was posted on Tuesday, April 24th, 2007 at 7:02 pm and is filed under trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.