Well, the first two days of the new year have been quite successful.
I'll start by mentioning my first big blunder, chasing CBTE on a 'tip' and getting caught for a sizable loss. The only mitigating thing is that I committed less than 3% of my trading capital and the paper loss is less than 1/2 of 1% of my capital. I suppose this is not the most egregious mistake, especially since the overall gains are around 4% YTD.
China small caps are doing well. My goals again are to trade less, hold for price targets, be more of a value investor, and get out of losing positions fast. This means taking the loss on CBTE so I can focus on the winners.
The people I follow now are the smartest of the web. I notice I am really not using charts as much except mainly to add to positions ON DIPS. I used to sell out on these big dips. That's why CBTE was such a mistake. I don't know this name and got excited to get into something.
The fact is - this makes sense. Today everything was going well for the 2nd day in a row and I took some time off and felt like... I wasn't 'doing' anything and felt well... bored. Feeling bored is a recipe for disaster. It leads to impulse trades and I definitely fell into the trap.
Professional traders must have a solution to deal with boredom or their bottom lines will suffer.
Twice a week I am away from my desk and this is good. Now that my strategy and positions are secure, it'll be easier to step away and come back refreshed.
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