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Just thought I would share how mean the market can be sometimes.
I have been paper trading, and have had 4 losses in a row. So I was
nervous to get a good trade. My system uses entry signals but it is
descretionary as to when to get out. I got a signal today and the
market moved in my direction. I got out one tick before the market
continued in my direction. Then I got another signal. And again
I got out 1 tick before the market moved strongly in my direction.
Both trades were profitable, but not as much as they could be. THe
next trade, the market hit my stop and I exited with a loss, and again
it moved strongly in my favor. So I was primed to stay in the market
too long. That is what happened next. I got in, the market moved
against me, and I kept thinking it would come back again. It went through
my stop and kept moving fast in the other direction. I took a huge loss
because I didn't listen to my stop, and I was influenced by my previous
trades. All psychology. It is hard to treat each trade independently.
Instead we are effected by our previous trades. This can lead to trouble
as it did with me today.
Just venting.
Troy
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