Posted by mastermind on 17th of Jul 2023 at 02:59 pm
Looking at a few old BPT stocks. BBIO, which I held briefly
before a small loss, jumped 80% today. SDA, which I didn't take, in
typical SPAC fashion made quick sharp gains before collapsing 75%
and is now trying to bounce. UPST, everybody's favorite short last
year and a long loser for me, is up 14% today, making it a
quadruple since its bottom. No positions for me; just looking
around.
I reviewed all my trades of the last 4 months, including the
ones I printed charts, but didn't take.
LOL all that I didn't take performed super well! Oh boy.
I decided that when I don't take a trade, I need to list the
reasons why, even if just "too busy"
My worst trades were stocks that had too thin of volume, and
near penny pricing.
Journalling is time consuming but sadly essential as you know.
My buddy has been a trading psychologist for 25 years working with
all major houses and has written many books. His suggestion to me
is to write down ( rather than type) your journal.
Something in the mind triggers differently with pen and
paper
took like half the day, whilst making two trades and also
recharting each position to see if I still like them. Filed
into a binder of Long wins, long losses, short wins, and short
losses and trades not taken. Also have a category of
"blow off wins" where I put a Limit sell on longs at a high price
that might get hit on a blowoff....had three of them nicely trigger
and then watched price walk down after each.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Looking at a few old
Posted by mastermind on 17th of Jul 2023 at 02:59 pm
Looking at a few old BPT stocks. BBIO, which I held briefly before a small loss, jumped 80% today. SDA, which I didn't take, in typical SPAC fashion made quick sharp gains before collapsing 75% and is now trying to bounce. UPST, everybody's favorite short last year and a long loser for me, is up 14% today, making it a quadruple since its bottom. No positions for me; just looking around.
I reviewed all my trades
Posted by steveo on 17th of Jul 2023 at 04:24 pm
I reviewed all my trades of the last 4 months, including the ones I printed charts, but didn't take.
LOL all that I didn't take performed super well! Oh boy. I decided that when I don't take a trade, I need to list the reasons why, even if just "too busy"
My worst trades were stocks that had too thin of volume, and near penny pricing.
Journalling is time consuming but
Posted by vimal on 17th of Jul 2023 at 04:29 pm
Journalling is time consuming but sadly essential as you know. My buddy has been a trading psychologist for 25 years working with all major houses and has written many books. His suggestion to me is to write down ( rather than type) your journal.
Something in the mind triggers differently with pen and paper
Anyway, just a thought from him FWIW
Indeed, I did it all
Posted by steveo on 17th of Jul 2023 at 04:32 pm
Indeed, I did it all in pen and sharpie on printed charts. It's like making a cheat sheet in college....once you make it, you don't need it. LOL
That's a good approach. We'll
Posted by vimal on 17th of Jul 2023 at 04:34 pm
That's a good approach. We'll done!! Keep it up.
took like half the day,
Posted by steveo on 17th of Jul 2023 at 04:40 pm
took like half the day, whilst making two trades and also recharting each position to see if I still like them. Filed into a binder of Long wins, long losses, short wins, and short losses and trades not taken. Also have a category of "blow off wins" where I put a Limit sell on longs at a high price that might get hit on a blowoff....had three of them nicely trigger and then watched price walk down after each.