What a stressful day for my accounts. I started the day by stopping-out some toxic long-term holds including my worst stock trading loss to date. Thanks to a volatile British Pound sparked by exit polls in the UK elections, I ended the day with some amazing GBP plays that resulted in my first ever 4-figure win and top trading day yet. Although I finished the day up $1100, I am disappointed in the lapse of discipline in my stock trades. My portfolio was (and still) is vulnerable because it is heavy in biotech stocks and I am not using hard stop losses. I have been using mental stops, but because of recent down trends in the overall markets, I justified holding stocks that should have been closed days or weeks ago. Another issue is i am going after way to many plays and my attention is stretched thin between each. I wrapped up the day by establishing hard stops for all of my open positions. It's a great feeling to have such a monster win in my Forex account, but minimizing losses and maximizing gains would have prevented many losses in April and May.
Posted May 08, 15 3:40 AMbyOaklandANB
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