Monday, August 6, 2007

You'd think I'd learned by now

My emotions suck. Despite all of my ranting about taking time, being patient, waiting for the right opportunity, I jump back in on a couple of stocks from my screens that seem to be bucking the trend. They both shot ahead over 5% in the early going as the market itself looked like it was going to have a pretty good day.

They held up when things very quickly went south. I'm a genius in ANY market I told myself. I then watched them plummet.

The day is far from over, but I wish that I would have taken my own advice and quit being so desperate to recover a little loss. I know better.

1 comment:

Anonymous said...

Do you really judge your trading by what happens within a few hours of putting on a trade? Reread Faith's section on outcome bias in his book.