Stupid, stupid, stupid
For those of you who have followed this blog for a while you know I am prone to emotional (translated--stupid) decisions. Today was a classic day for stupid decisions.
- I didn't trade my plan
- I let market movements dictate my decisions
- I traded against the longer term trend
- I worried about not making money on a big-move day
- I placed sloppy stops
- I rushed into stocks that were up heavily hoping to catch some gains
Despite the positive day for the major indexes, my portfolio was down over 1%--not good. I had two round trips (bought and sold the same day) for losses.
I think a lot of it was suffering through the worst June in a long time and anticipating a strong move every day. When I saw the move happening today, I made uneducated decisions that hurt me. The excitement of the market hooked me today and I got my buttocks kicked. Will I ever learn?
Posts
2 comments:
Scott,as long as your losses are small,don't worry about it.There is always tomorrow.Maybe today is the start of a rally.
Let's hope,Ron
Nicely done Rick. I hope everybody can learn from my goofiness. Ron, Thanks for the encouragement. I'm not counting on a rally yet, but even a little one would be encouraging.
Post a Comment