Friday, September 5, 2008

Well that just sucked

I traded like an idiot today. Down 4R. You name it, I did it--over-trade, revenge trade, breaking trading rules, not following the plan, entered the wrong order. Just stupid.

I rushed into things because I had an obligation so I wanted to get my positions established before I had to do anything else. That was my first mistake. So then I chose stocks that didn't fit with my system at all. I was buying right an left--anything that was moving down with the market.

Then the market started shifting upwards and it all came apart. I had a feeling that it might go that way after the sell-off yesterday.

I'm going to start posting my weekly and monthly "R" values instead of percentage up and down. It helps me in my analysis, and it should allow StockPunk readers to get a more "scalable" idea of how my performance has been.

My goal is 100R (or doubling my account) by next summer. I'm pretty confident I can do it if I avoid the mistakes that I made today.

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