Lesson of the Day:  Slow down, let the trades come to you.  Verify a breakout is not a fakeout!

 

Impatience seems to be a big psychological issue for me.  I want to be in trades so bad that I'm jumping into trades I should not be.   I was watching VSCP and I almost got an entry at $4.95.   It quickly spiked up to $5.40ish which was a NHOD.  I reacted way too quickly and bought this unconvincing breakout.  I need to take deep breaths and confirm a breakout is genuine before jumping in just because a stock breaks its previous HOD.

 

I sold at $5.20 to minimize losses generating a $170 loss in my paper account this morning.

 

I hope you are all having better luck than I.  I am working from home today and will be back for the afternoon power hour!