Well my trading lately.... about scratch, better than losing money, but bad decisions, mostly being impatient have turned what should have been good trades in to bad, profitable week in to a scratch week. The worst part is taking a loss because of bad decisions. Bad decisions adversely effect future trades. Doubt set into my decision process and I didn't execute a good trade at the right time for the right reasons.

Case in point: I traded SIGM the same day SGYP was on it's initial morning run. I knowingly entered SIGM too early. I had my buy point identified on the chart, but entered early...why? because I didn't want to miss the trade, 15 minutes later SIGM is down to previously identified buy point and dips slightly below and I cut losses because my loss point had been reached. SIGM closed .60ish above my planned entry point. This poorly executed trade effected my decision to not pull the trigger on SGYP on it's morning pull back/dip to the low 6s to run to 8 later in the day.

Lack of discipline and patience and not trading the plan cost me a loss on the day, SIGM, and led to unrecognized gains on SGYP because I doubted my decision process. I had 6.14 marked on the SGYP chart as a possible buy point because of PM dip that was quickly bought up.. but I didn't pull the trigger because I doubted my reasoning.

Bad decisions can wreck your confidence. I can take a loss in stride as long as my decision process is sound. The SIGM trade messed with my confidence, not because of the $$ loss but because I didn't trust myself. Taking losses is part of trading but giving yourself the best possible chance of success is the goal. When to enter a trade, when to exit a trade is all on you.

So how to correct: Don't make a trade out of fear of missing the trade.. develop a trade plan, execute the plan, evaluate the theory, execution and outcome of the plan,  make improvements if needed. Do not revenge trade.