(written on the 4th from digital self stalking data)
Another rough day trading. My thought was to not just quit like before. Try again. Be disciplined.
But lost a fair bit again–Another $1400 today.
Traded for a long time, I think. Then made a really great decision on a stock transaction in principle, but watched the stock go the wrong direction initially, so when it finally started doing what I was originally expecting, I cashed out to avoid the loss.
Had I just trusted my original reasoning, and waited longer, I would have gotten back everything I lost today. In fact, I had set an automatic transaction order for a specific price, to kick in my order when it reached a certain price, and, well, it reached that price.
Almost in mocking fashion, actually. I think it went about four cents beyond my automatic order that I had originally set, before switching and going back the other direction. I would have wiped out all my losses for the day, plus been in the black.
But it’s so hard to watch the numbers be so big right in front of your eyes, afraid of losing.
Historically, I think the majority of trades that I have made that I’ve lost money on, had I just held on to the stock longer, I would have actually made money on them. That’s not always the case, and it’s not always going to be the case, but I think that’s been the case the majority of the time. I’ve just been afraid that it’s going to keep going the direction it’s going, cut out, and lost a lot.
And that’s true, you never know exactly what’s going to happen. If you did, no one would lose, but still, it’s an interesting data point in my trading history.
Anyway, did some grocery shopping today at the Pak ‘N Save in Whangarei and then headed over to Ruakaka Beach for the night.
Lift the world.
Bring it on.
~ stephen
Lift the World 