January 19, 2013
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Trading Update: 1/14 -/1/18
While working on my new intra-day trading strategies at the start of the week, I fell victim to a couple of “fat finger” trades, where I entered the trade order wrong and the automated secondary trade did something unexpected, as in cost me money.
Damage was minimal, but it negated the results of a good trade. I was clearly a bit rusty in the shorter term fine tuned trades arena. After I improved with my trade order entries, things moved along much more smoothly as I started getting better at timing the short term fluctuations. The results were good with respectable returns…MUCH better than last weeks big score of $1.32, haha!
As I anticipated, the con of shorter term trading is I wasn’t “loaded up” for the breakout on Thursday. I caught a piece of it, but I didn’t have a big position to sell near the top like I would if I were just swing trading. However , the “pro” is the shorter trading profits pretty much made up for the bigger gains if I just held onto the positions.
I’ll have to work on balancing the intra-day trading with also keeping and open swing position to get the best of both worlds.
Comments (6)
it sounds like such a fun game to play.
@consignedhearts111 - It’s fun when it’s profitable – not so much when losing, haha.
keeps you on your toes. good to have some restraint. lol
I hit my loss limit this week and got a bit discouraged
@Konrado - How you handle your losses is more important than your winners since losses give you a window of opportunity to improve your methods/strategy. What I do is go over every trading loss and rerun the trade in my mind thinking of what I should have done. Then I examine the correct move to see if it’s intuitive. If it’s not, that’s a problem I need to work on via methods/strategy until it is intuitive.
@SoullFire - i know exactly what i did wrong. i literally didn’t have time to put a stop limit in, that’s how horrible my entry was.