Profit this week: +$500.64
Overall, not a good week. I lost money on a mediocre trade on GGC short and then missed the great trade opportunity. ICOG was a good trade but about 10% of my ‘fat fingered shorts’ have resulted in Nasdaq trade busts and that trade bust cost me $980. It was still a good risk/reward trade. Today I didn’t focus much on trading because I am still bummed about yesterday and I have new eyeglasses that are distracting me.
+ BOT 6,000 CHINA false Stock (NMS) 2.835 USD BATS 10:46:05 30.00
+ SLD 6,000 CHINA false Stock (NMS) 2.860 USD BATS 10:47:06 30.00
I scalped this for 2 cents when Tim Sykes bought to cover his short. +$88.15
Today’s trading profits: +$88.15
Disclosure: No positions. I have a disclosure policy.
0 thoughts on “Weekly Trading Recap”
Have a great weekend. Thanks for the information on the brokers.
It’s been a good week following what you do, whether good or bad the learning comes from all aspects.
The more you distract yourself with the GGC trade, the more you take your brain away from moving on forward and finding other good opportunities. Yes, it’s good to look bad at what you messed up and learn your lesson, but don’t let that become emotional and affect you. Trading should be emotionless (for the most part, so they say). Besides, you knew what you should have done but missed it once, which is better than not knowing what you did wrong in the first place!
Actually Mike I have to disagree. Obviously getting very emotional about a messed up trade is bad, but a bit of regret and frustration causes a person to work harder to fix the problems that caused the mistake. I am not in danger of getting overly emotional about this.
Also, trading should not be emotionless. There have been some interesting studies on people whose emotion center (the limbic) in the brain has been severely damaged. They have trouble making decisions. To make decisions with any emotion is futile. Instead, we should strive to keep emotions in check. Hmm, that sounds like we should “feel the fear and do it anyway …” (see here: http://www.goodevalue.com/2009/04/27/feel-the-fear-and-do-it-anyway/)
Yeah, I have to agree, if trading was winning all the time emotions would be non-existent. Without the losing side side there is no fun, now please don’t think I don’t want to win but if it was that easy you would hire someone to do it and move on to the next challenge. People that settle for just winning and not moving on never challenge themselves or their mind to do better. IMHO
Luck is made by hard work and knowing/seizing opportunity that others may not see or understand.
Yeah, by this: “Yes, it’s good to look bad at what you messed up and learn your lesson” what I meant was learning from the mistake by working at finding out why it happened and what you can do to prevent it next time, then moving on knowing you found the source of it and have taken steps to correct it.
“I am not in danger of getting overly emotional about this.” Perfect. I just interpreted you saying you were bummed over it as it was draging you down too much.
In terms of the emotion debate, I have read about traders that are on both sides of the spectrum. I think I meant more in terms of sticking to your plan and not letting emotions take over and alter your behaviour (holding a loser longer, removing a stop loss, etc without a valid logical reason to do so) or learning to remove the negative-effect emotions (such as fear and hope) when trading. I agree on the keep in check idea.
Preston, trading attracts so many people because of 10 money and then 2) the challenges faced in the markets, or else you’re right and trading would have no appeal.