So the results from my first trades in october were looking quite good for me and it felt
realy good, to go into consistent profits as i focused really only on my patterns with
calculated risk and good patience and money management. I seemed to be in attunement
with the market, totally in step, and my performence proved it. My confidence built step
by step as i saw the risk i took, got rewarded with grat % gains. It felt so good that i did not
see the slippery slope that i began sliding down. Over the next day's , confidently fired up to extract more capital out of the market,
I fell into a tailspin. I started taking risk's that simply were not good risk's and i paid the
price - a $164 red day with $SPCB and a $250 red day with $ISIG. Everything was fine until
the reward was gained from risk-taking and i couldnt see the diffrence between healthy risk
and irrational exuberance anymore. The problem with euphoria ( irrational exuberance )
in trading is that it causes the mind that emerges from the brain to believe with certainty
that the good times are going to roll forever - thereby minimizing perceived risk.
I could write a lot more about this matter, but i think that embraced what i got myself into.
The good thing is that the only thing that prevents me from making consistent profits
and achieving my goals in trading, is myself, so i gotta be beware of my emotions while
trading and managing them for the optimal performence.
I read a lot of stuff about trading psychologie and learn important things about the Trading mind now.
I will take the following trading week off(I didn't), to regain my composure. Big setback for my
trading account, but that only motivates me more to work harder and rise up like a phoenix !!!
Hey I traded ISIG as well. It's dangerous shorting low float stocks on the first day especially up on earnings. If you do it's better to wait for the backside later in the day when the volume drops. Anyway that's my 2 cents, hope it helps :)
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