Tuesday, 9 August 2016

Improvement: 08-08-2016

Focus for this week is patience for entry, and trading with no fomo.

Today this showed up in a different way, to the way it usually does. Usually it shows up by chasing a major move, in which case it comes down to patience (for correct setup and/or a dip) and fomo. Today it showed up in the form of fomo and discipline. Essentially I was chasing minor moves, but being bigger picture patient.

The best example from today is BMY (also occurred on ISNS). Where I wanted to buy it a little bit lower, but instead purchased after the tiny over/under move. This is the second green arrow. Effectively I just wasn't disciplined enough to ignore the impulse.

I believe today is an important distinction in the things that affect my entries - which is ultimately what I want to improve on at the moment. This is just food for thought at the moment, and highlighting something to avoid. Not really sure what to make of it at this stage.

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