Today I am not trading, for several reasons.
- I'm in the middle of moving some money, so my active trader account is below the PDT requirements. I have no bullets for shorts.
- Shorts are where its at today. S&P is in a downtrend. And with no bullets, I'd be fighting the market to go long in my other account.
- Yesterday's lack of discipline and allowing me to get chopped up made me step back. I am formulating new rules to keep me disciplined, sane, and profitable.
- I found myself jumping in late to trades found in chatrooms. That was not my plan. I can do research. While a good group can work together, being a follower will always mean I'm late. I need to do more of my own research. Doing my "homework" will pay off. I've disconnected from chat rooms for a while.
Yesterday's fumble put a dent in the confidence level. I must be confident. Most of my rules were followed, and protected me from big losses. This will happen. Learn from it and improve.
If I make "circuit breaker" rules and follow them, I will be confident that I am being safe. Pausing from trading, switching to simulated trading, and changing position sizes are options.
Posted Jun 14, 16 11:35 AMbyjmjatlanta
Received 2 Karmas
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