Ok, is everybody ready for a new day? Seems as yesterday was one of those humbling days for nearly all of us.
Remember, don't change that which has made you successful just because you had a bad day. Get pissed about it for a day, and then leave it behind .... always learn from the mistakes. Stocks do not care what you did last week, yesterday, or 2 minutes ago ... they do not hold a grudge nor do they favor anyone. If you have not been successful, take a moment to outline CLEAR goals and stick to them. If you have a $500/day goal, don't be afraid to stop when you reach it, use the remainder of the day to do your DD for tomorrows picks.
But please, above all else, be realistic when setting your goals. Don't expect to grab a point on every trade unless you are willing to take it as a position trade.
I believe that if you do good DD, 2 week postion trading can be more profitable than day trading .... but you must do your homework or be willing to rely on others that you trust. This is why we are creating the specialists, it will allow an individual to FOCUS on an issue in the news recently or on the move, and bring everyone up to speed on the good, or bad, characteristics.
Trade well.
TJ |
