Okay Ive had this problem where i'm watching a set up sometimes a breakout, red to green move or something like an abc pattern forming and the example i want to use today is with HGSH. Okay so im watching this stock ( well i open the chart up at 9:31 ) and i can see its setting up for a multi day break out. I'm looking at the 1 minute chart and the daily chart. But anyway i start to focus my attention more on this stock and it starts to move closer up to that 1.89 multi day break out. It hits it a few times but doesnt break it then at 9:32:52-9:32:53 it shoots straight to 2 and from this point on im chasing it up trying to find the right price for me but it kept going straight up so i never got in.
This is not the first time it has happened to me. I have many on video aswell where im watching it shoot up and do these 50% moves and i miss them because i havent got in at the right time because i think im too late, or i think its going to collapse or its not going to break out in the first place. Ive missed out on a ton of money missing these set ups. Even if i got in i would took my profit straight away.
My question is do you miss out on the crazy plays because your emotions got in the way? I mean literally watching them go 50-100%+ without ever entering????
@williammorris16 Yeah, thank you. I guess it does really come down to being a new trader. 1. my confidence isnt great 2. Im not properly planning before trades. Thank you for the help.
I miss dozen of them a day. You can’t trade them all and you need accept the idea your eyes can’t be everywhere. If you miss trades on stocks you are watching closely then its another problem : you might have the fear to pull the trigger when things are setting up. That means you’re most likely not prepared enough. Prepare your trades more. If the things you’re looking for are lining up, you shouldn’t be hestitating. Try visualization. Be in the trade even before it actually happens. Good luck
don't focus on what you've missed. that'll destroy you. focus on opportunities.
Having a plan will help. I had the same problem and got pissed off i kept missing opportunities so i wrote this blog: http://profit.ly/user/TradeSmall?id=2713354
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