This morning I had set up watches in ToS. Then on my way to work, I thought it would be a great idea to pull up Robin Hood and see how $UQM and $XGIT were doing. Neither looked great, but $UQM looked level for the few min I was looking at it. I thought, maybe it is turning around. So I bought $23 worth of shares @1.15. This was at about 7:55AM PST. I checked it again about 5-10 min later and saw the price had dropped to $1.10. I was pissed for two reasons.
- I didn't have an exit strategy, I was now down almost 5% on the trade. I knew that meant to get out because I was hoping for 20% increase.... FUCK!
- I made a stupid trade without looking at the price action... WTF was I thinking.
That is me beating up on myself. This was another bad trade, I get that there is a 'tuition' to the market... but I really would like to get a little up.
I like keeping this blog. It keeps me honest. I'm glad to be sharing my trading adventure here. So here is a drink to learning more and growing beyond trading diapers.
That is a good point. I was thinking about exactly that and I came up with a strategy for practicing good habits. I was thinking that I would start taking random positions on the paper account. Then practice loss management and sizing out.
You did way better than me. I,,, still holding and going to sell this am, Lost $1K and couldnt let it go, I get what I deserve not cutting my losses. Holding and praying doesnt work.
Ouch! Sorry to here that.
I'm running with a baby account and got into this one without being able to watch it. I had a 60% loser on 43 shares. I'm happy to be getting these mistakes out of the way on very little money. I was too anxious to trade and didn't trust myself. I knew it didn't feel right and still jumped in.
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