Thursday, October 2, 2008

Should have done better



I had a .57R day on one trade. I could have done much better if I had avoided over-thinking a few stocks on my watchlist. I had too much of "it can't go any lower" mentality today and it cost me. Here are 3 trades I was considering taking. All were down over 5% and I thought that it would be expecting too much for them to go lower than that. I was wrong.

The stock I did trade had no real setup whatsoever. My thought was that as the market rolled over, NOC would follow suit and end up at the lows of the day. I'm not sure what convinced me of this. I was up 2R at one point, but gave back most of it by the day's end. Not very smart.

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