Trading small

I discovered that I took a lot of positions that where too large for me recently. That made me nervous and i set my stops too tight,so I got stopped out a lot of times,and when I was in the green I cut my positions too fast,because I didn’t want to lose this big amount of money. Later these stocks went a lot higher in some cases. So I made the decision to trade smaller positions from now on,until I am psychologically capable of handling the pressure to trade bigger. Yesterday it worked out well for me: at some point I had 4 positions and they were all in the red, but I held on to them. Finally I sold one of them with a nice gain of 1,35 (DRQ wich i held from 64.80 to 66.15).

I am still in DISH 13.44, APA 107.55 and TTI 13.43 . People I follow on the stream brought my attention to those stocks, and in addition to following price action alone I always find it interesting to know what other traders have to say about stocks.But the decision of buying and selling has to be based on price alone ,I always have to remind myself of that. There are a lot of things that can distract you and make you forget on what basis you made your initial decision to buy.

Advertisements

About Schwarzdaytrades

I am a full time day trader. I like to share my opinion about stocks and the psychology of trading.
This entry was posted in 1. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s