Hesitation is one of the hardest things I have had to deal with since I started trading. I have missed some great trades because of it. For example, today I had my buy order at $6 for CSTM. I waited til it broke and moved up to $6.01 before I even put my order in, then spent the rest of the time angry at the fact that I had the opportunity to make $.90 (if I had the guts to stay in that long). So just a little reminder, and I know everyone hears this all the time, but next time you have an idea that presents itself, don't hesitate. In my opinion, making a trade (an educated, thought out trade that is) is better than sitting on the sidelines watching your profits go into someone elses account. Learn from me everyone! Hopefully the next time your in a situation like I was, you will remember this and not hesitate.
Categories
Basics, Trading Mistakes
Tickers
CSTM
Received 1 Karma
Thanks for sharing!, and one more thing, Im looking at your trades and your risk to reward seems to be not so good, you lose 20+ and gain about 10 each trade, you need a 3 to 1 risk reward, lose max 15 and gain 25,30 cents. Good luck bro!
@Feuse135 I am having trouble with that. I make my stops without the thought of commissions, so going in to it I do have a 3:1 risk reward. I do not put on a trade unless it's 3:1 or greater, but the $10 commission is really affecting my account. I am trying to work on adding more money to the account just to not be effected so much by the commissions. I have made money per share and still lost overall because of it.
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