Recently, I had fallen into the trap of trying to go for the grand slam, when a simple base hit RBI would have done the trick. This led to watching great gains dwindle down to near losses, as I held in hopes that it would magically bounce in my favor. Of course, that is a TERRIBLE mentality to have, and can also be quite demoralizing. Over the weekend, I reviewed my mistakes, and set out with a fresh new mentality. SINGLES. It just so happened that Tim literally mentioned hitting singles this AM, and helped to reinforce this mantra going into the trading day. I may have over traded a bit today (for my liking at least), but I locked in gains, and batted 5 for 5. 5 singles which amounted to $2,500.00 in profits, bringing me to over 6k in profits for the week. Feels good to be back in control. Happy hump day everyone!! Singles singles singles................
@Torkers I don't really set out with a goal. I try my best to let my winners run, and generally will move my risk up when new levels of intraday support are formed. Locking in gains in chunks has been really helpful though.
I'm guilty as charged. Time to adjust, thanks!
This might be your "Single' most important blog post. JK they're all good!
Roland you blog is a perfect reminder for me to also take singles as that is normally what I do. HOWEVER, today I traded LFIN and had a nice $3.50/share win and I was trying to let my runner run and BAM it was halted. had I taken my single I would have had a nice $400 win but now I have 2 grand on the line and could loss most of it now when LFIN unhalts from the T12.
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