Crap, got too scared and shaken out of my position in BRCD this morning, sold @7.42.
It was quite a dilemma (at least while I was watching this morning plunge) - protect profits, or keep stops loose ?
I wish I could claim ignorance but I've read about this before on other blogs and trading articles - tinkering with your stops just leads to weeping and gnashing of teeth. This is a variation on my rule about patience - set your stops and let the market decide whether to take out your stops or not !
I would have been better off not watching my positions after I made an entry and set my stops.
Anyways, that's something I need to work on for sure - learning when is the right time to sell !!
DailyReview (123)
futures (108)
futuresTrading_Plan (73)
MarketReview (66)
trades (56)
uranium (47)
swing (46)
victories (42)
Ideas (40)
bigger Picture (40)
screwUps (35)
OffTopic (34)
options (34)
chartReview (30)
LearningCurve (22)
Pattern Catalog (14)
sectors (13)
rules (9)
TechTrends (8)
Euro (7)
daytrades (7)
trendDays (7)
MonthlyReview (6)
ProductReview (5)
Trading System (4)
Followers
Tuesday, October 03, 2006
Follow up on BRCD
Posted by Phileo at 10:05 PM PermaLink This!
Labels: screwUps
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment