Home

journey journal
Back to Journal Home

Bad day made worse with big mistake

Tried trading SBET this morning but the way it moved was making me really nervous. First trade, made $160 w/ 100 shares. Next trade I went up to 300 shares w/ a ~3.5 stop, got stopped right away. Down $800 but wasn't stressing it because I was in the same situation yesterday. Kept telling myself that the right trade will come along as long as I am patient and not impulsive. Lost another trade and still didn't worry about it.

Last few minutes of trading I saw PLTR spiking and wanted to ride the momentum. Entered with 1k qty and had an alright position but then the market closed and I did not have an order in place to close me out. I tried to submit an afterhours order but I didn't know how to. Had to google and by the time i submitted an order, PLTR was down 80 cents. Lost 800 in 4 minutes just because I wanted to scalp a few hundred.

Ended today with a big loss overall, -$2,048. Almost took out the entirety of yesterdays profit. Feels bad man.

Lessons:
Flat days are good days. Winning nothing is better than losing some.

Don't trade so close to market close, and have an order to pull you out if you do.

Just because it traded amazing yesterday doesn't mean it'll do the same today. Everything is independent.

Stop chasing after wins, only losses will come your way. As I said before, let them tell you want to hear, dont force it out of them.

 

Share This Journal Entry:





Follow Us on Social Media
YouTube - FaceBook - Twitter - Instagram - LinkedIn