First of all, I got involved in way too many trades today. Of the 4 trades I got involved with today (I'm only showing 3 because they're closed out and the 4th is the same Ticker), I had absolutely terrible timing with all but 1.
CNET had incredible price action this morning so I tried to buy into it, but bought way too late at $4.06. It then went down to $4 and I sold quickly to cut my losses which was a great choice. However, with commissions, I was down a total of $23. I actually bought this on a dip buy later at $3.52 with a different account of mine and I'm waiting to see if it will go back up at all (I'm currently down a few pennies a stock). Update: I sold the rest of my CNET shares at $3.70 for a small profit of $12.58.
CANN was the same way. It had a good morning panic but again, I bought too late at $4.63. This quickly went back down and I didn't want to sell..I didn't want to believe I was wrong again, but I was. So I ended up holding too long and sold at $4.48 for a total loss of $44 after commissions.
Lastly, I bought KBSF at $7.40 and sold within about 3 minutes for $7.75 which was the ideal trade for me. After commissions, I walked away with a $21 profit.
My biggest lessons I'm trying to embrace right now are don't chase, focus on one trade at a time, review past performance which I am doing every single day, and get out of situations where you don't feel comfortable (CANN was the trade I wasn't comfortable with). I'm just thankful that I'm still brave enough to trade and that I'm still in the game. I vow to study every day and to get better than I am now until I can do this full time. My current goal is to be up 50% in each of my 3 accounts by August.
Thanks for reading!
-Ashley
Great post! Yes, timing. Geez! Saw that yesterday with DPW. Keep the studying and learning going!
Absolutely right, timing is everything in trading and one must stay calm while trading. If you start to feel anxious about a trade then there must be something wrong about it. Always listen to that little voice we are told to ignore by others.
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