It gets better...
Thursday at the close, I entered a double position (1 contract for the missed signal, additional 1 contract for the "add to winners" scheme I am doing.)
Guess what happened?
The price moved against me on Friday, temporarily (hopefully!) causing an $1,100 loss.
It seems like this happens to me a lot - is it because I conveniently forget the times when mistakes go in my favor (and dwell on the negative times), or is the market out to get me? I know it is the former, but many times it feels like the latter.
Maybe you can relate to this experience. If so, just realize that it happens to everyone!
I know what you are talking about, because I missed a trade on Tuesday too, and got to watch it develop into a big winner on the sideline.
ReplyDeleteThanks for the comment. The question in these situations is "do you jump into the trade once you realize you missed the signal, or do you just wait for next signal?"
ReplyDeleteFor me, since I trade 10 systems, it it hard to remember any deviations I am taking to the strategies, so it sort of forces me to follow strats EXACTLY (which is good!).
9 time out of 10 I try to immediately enter. Sometimes I get better price, sometimes (like Thursday) I get a much worse price.
The bigger question here is "how do I reduce or eliminate mistakes like this?"