Wednesday, December 13, 2006

Wednesday's Results

Today I got back on track by reciting my Trading Rules out loud to myself. I set plenty of alerts just as the market opened, but did not get discouraged when none of them went off. When FORM broke below 36, I thought about shorting it, but decided not to. As the morning wore on with no alerts going off, I turned my attention to some Canadian microcaps. Some of them worked out nicely for me in the past, and we'll see if the ones I bought today will turn out to be good picks as well. All three of the ones that I bought today have been on my watchlists for well over a month.

I'm pretty happy that I followed all of my rules today. The biggest one was that I did not lose patience while waiting for a good setup to occur. I honoured my planned exit points when I scalped SU. I resisted the urge to revenge trade, or to chase a breakout. Good stuff, now all I need to do is continue the same positive behaviours for tomorrow, and the next day, and the next day after that, etc.......

Luckily, I don't set any rules that I already know are unrealistic for me at this stage (like always be consistent !!).

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