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Today is an important day.It was a good day trading wise, at least until this afternoon. I stepped away from the desk for an afternoon meeting without selling, and proceeded to lose all the gains in CLDX.
The funny thing, I knew this - I mean I knew that I should have sold, it was just obvious. But I hung on, hoping for the big gain. You don't hope in the stock market. You go with the flow.
Part of the hanging on was the anticipation of a big gain. Yesterday, I knew I would make out well in CLDX. It bumped up in the morning, and proceeded to fizzle all day. That is when I should have sold. And I should not have walked away from the desk with open positions.
With the absence of screener results from the tested strategy, I have been using the new screener 10% gain screener.
Strangely enough, I feel like I am maturing as a trader, despite what happened today. I am content to wait for a good entry, and nearly all my picks have been good. Good entries are probably 90% of a successful trade. I have been able to time exits, but hope/greed has kept me in too late. Today (after the fact) I recognized it for what it was and at the same time, it wasn't associated with a feeling of out of control recklessness. It is what it is? Famous last words?
Going to slow down and work the intra-day for awhile, which limits me to 4 trades/5 days until/if I get the account built back up.
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