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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (1065)	10/9/1998 11:54:00 AM
From: LastShadow	Read Replies (5) \| Respond to of 43080

I'm doing the wrong thing. I took a short walk and thought about my trading this week and the last half of last week, and then went and printed out some posts of mine and charts. I should have only made about 5 trades this week. They were all trades I did enter, along with a bunch of others, but I didn't do what I should be doing. What I know to do. I did buy KO Monday and hold overnight and that was the right thing to do, and I sold it at the right time. I did buy and then reverse to a short on LCOS and that was the right thing, but I didn't hang on for the ride down all the way. I saw NEM's gap down and didn't play as a long entry on Wednesday and I should have. Thursday I did have the buy stop on IIT filled and I did hold it and I did exit it when I should have this morning. But then I did all that other daytrading crap that I shouldn't. ASND? Yes, I should set a buy stop at 40.875 and a short stop at 40 and forget about it. Set and alert to tell me if I fill and then go out and set a protective stop alert and forget about it. I should have made my buys before close yesterday when I did the preliminary analysis, rather than playing the morning jump to unconsciously test how fast I was. Because I knew I could do it. And I did it, and it was pointless. In reality, 75% of my trades this week were scalps. What a waste of time and commissions. KO and IIT and LCOS made money. And if I did what I am good at and stuck to what I do well, I would have made about 80% this week. Every once in awhile I fall into the trap of daytrading, and its usually when the market is too volatile and I forget to look at my analysis and remember the discipline that serves me best. I said earlier I need to keep this a position trading thread, and Sue graciously pointed it out to me. If I do what I am supposed to do I would have been 10 times more profitable and felt better about the effort spent and the opinions dispensed. So that is what I am going to do. I am going to go back to trading like I should, and posting what I should. Everyone else please post the gap plays or the intraday questions or the whatever it is you are doing that you need to talk about or ask about or give insight too. You do what you do, and I'll do what I should do, and maybe we can get back to making money without my overtrading and over posting. Thanks. lastshadow