Main Account: -$256. Weird day overall.
Day started with a couple of fomo chases (possibly emotional/greedy due to yesterdays big gains?). Which didn't result in huge losses by themselves because they were only 1/5th size, but then I felt like I had to try and improve my average which led to adding inappropriately. This was mainly on VHC, but also on GILD - obviously the big loss occurred on VHC though - and was around a $400 loss. Ironically, despite being absolutely (couldn't be more) wrong on VHC, my original plan would have contained losses very very well.
Then I traded back exceptionally and was up a little over $200 on the day. So I closed everything out and kept a VHC trade on (which was a good trade) with a stop-loss, which when stopped put me a bit below $200. There was a bit of slippage so I was up around $160. In this set of decision making it seems that there was a bit of greed involved, but it wasn't too bad, and generally speaking a good decision - it's this process that will allow me to continue to push forward.
Anyway then came back and traded really poorly obviously and ended up here.
Overall, re-reading this review it sounds like I am trading my PnL far too much... But monitoring it actively is really helping monitor my psych; so the reality is that paying close attention to it from the right perspective is working.
No comments:
Post a Comment