Thanks - I'm not surprised to learn that no magic is required, or available, just patience and common sense.
About the only clue I was able to deduce on this trade is that over the last few days more trades are going at the ask than I've seen in a long while on this stock.
Exposing my personal trading mistake number 10234, I used to believe that I had to be in at the beginning of every move.
In fact, mistake number 20763 of mine is trying to build highly responsive systems based on oscillators for the sole purpose of trying to play every move. Neck a little sore from the whipsawing. I tried to fix that with longer term trend indicators like Dahl or a long MACD, and that helped some, but still I found myself trying to maximize every ounce out of one stock, sometimes leading to questionable analysis.
I think my initial approach came about due to the "I want to be right" bias, something which I personally need to watch!
I say all this for the lurkers, because it took me quite a while to realize what I was doing. For some reason I used to dwell on trying to profit from every opportunity in *one stock*, rather than taking only the best (lowest risk / highest reward potential) opportunities from *many stocks*.
For what its worth.
(Next week, mistake 3281, nope, sorry, that's swimming after eating) |
