Just Calm Down, Punk

I’m trying to calm my trading down a bit. I want to be able to go the entire week without managing my portfolio. It seems like the more I manage it, the worse I do. It isn’t necessary for me to do any trading on Monday morning. I can just set up stops (or limits) on Sunday and allow things to work out by themselves. I’d probably do better that way anyway.

Take yesterday for example. I jumped into KRSL after it had gone up over 10%. I probably could have got in at half that if I had a dumb stop on it. My emotions got the best of me as I saw the thing go near 13% (I’ve got to get in now before it heads to 20%!!) and then I watched the thing drop all the way back down to 1%.

I’m becoming much more disciplined in my trading and I think that has paid off very well. My goal should be to phase out my active trading so that I can manage things from another job. I think that will help me become even more disciplined.