Houston we have a problem.
Well today was a day of revenge trading,an amatuer move on my behalf.I wasn’t mentally ready to trade first of all,that should have been clue number one.Here was the start of the day.I’m scanning the markets for candidates and what comes up to the top of my list,MCO (Moody’s Corp.).I find a low risk entry at 67.37 the high of the opening range.I couldn’t of asked for a more perfect entry,so what do I do you ask? I take it off for a Flat,why?I’m still trying to figure that one out.Of course you all know what happened next,the stock traded to a high of 71.38. The rest of the day from that point on was a total fiasco,well not totally,but just a bunch of dumb trades that added commissions and made for a losing day.So what did I do wrong? One I did not “physically enter a protective trailing stop,and give the trade some room to start working.Two,I let the fact that I blew the exit get to me for the rest of the morning and day,which caused me to miss other good setups in the morning.Three,I was not mentally prepared to show up to the game,and I should have benched myself.What did I do right today? I realize the things I did wrong! Point in matter is,show up with your “A Game” or don’t show up at all.