This makes the third day that I’m in the same position. So far, it’s paid off. However, today serves as a good example of keeping our eyes on the ball. I really wanted to sell the position when it was in the money by more than it has been since I bought it but on the 30-min chart which chart I’m following it’s not even close.
I’m aware that there is going to be larger swings and more temptations to sell early than on the 5-min chart I normally trade. If I’d sold yesterday I’d made a little money and not suffered the unbooked drawdown that yesterday provided.
It’s a trade-off. I don’t want to over-trade but it sure was tempting. This is why, if we buy on one time-frame we want to sell on that same time-frame. It saves us from constantly second-guessing our own trading rules.
