Profits

Still Learning After All These Years

July 29, 2011

Just a quick note about my recent trading:

After 10+ years of trading I still fight the emotions that every trader feels. Every one of them. Panic when the trade goes against me, elation when I have a huge success, remorse when I make a big mistake (yes, I still make mistakes), and even confusion when my charts tell me one thing and my head tells me another.

The hardest part of trading is overcoming my own emotions. I’ve been told the same by other traders. So today I’m engrossed in the single goal of not letting my head hurt my profits. It’s hard but focusing on a single goal is allowing me time to look at the bigger picture and not get wrapped up in what is turning out to be minor details.

In this case, having a system and using it faithfully is excruciating but this is proving to be a gold mine and is far less punishing and painful than locking in losses by trading too much.

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Simple Trading – S – Start Off Slow

November 20, 2009

Whether you’re a long-term trader or a newbie thinking about getting into the stock market, if you want to bullet-proof your trading career then you want to start slow or slow down when faced with uncertainty and proceed with caution. It allows your to stay in the game.

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Simple Trading – S – Start Off Slow

November 5, 2009

Whether you’re a long-term trader or a newbie thinking about getting into the stock market, if you want to bullet-proof your trading career then you want to start slow or slow down when faced with uncertainty and proceed with caution. It allows your to stay in the game.

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Trade Journal – What A Mistake!

October 26, 2009

1:23pm – Put a trade on today at 9:09am. It was a $44 put on the Q’s for Nov. @ $1.10. Well, I bailed to protect some of the profits too early. I just spaced an forgot to look at my confirming indicators before I punched out.

It only payed 34%. That is the good news. The bad news is that the trend down that I was following has resumed and currently that same option is at $1.62 which would have paid somewhere around 45%. Not a big mistake but I’m at the sidelines waiting for another trade to form and I’ll have another set of trading expenses.

Note to self: Check BB’s on a 5-min chart before ever making another trade.

1:43pm – looks like it wasn’t such a bad trade. The Q’s look to be moving up again. The confirmation for the trade I made earlier looks to be at hand. So I was just a little early. Just another case for the accuracy of my other indicators.

Patrick

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Trading Like A Hitchhiker

September 18, 2009

Many years ago I had a chance to travel from Hamburg, Germany to Flensburg, Germany along the Autobahn. I did it with 4 other students carrying 5 people’s luggage in a VW Bug. It seemed to take about 10 hours. The person that owned the 5th set of luggage had to work and didn’t start the trip until 4 hours later. He hitchhiked his way up. By choosing his vehicles right, a Ferrari and a Porsche, he got to Flensburg 2 hours ahead of the rest of us.

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