Showing posts with label challenging days. Show all posts
Showing posts with label challenging days. Show all posts

Jun 26, 2007

Stay the course

For me and the way I trade, the last week and a half have been pretty challenging. Yes, I've had my share of winners, but I haven't really had a whole lot of stocks to choose from. Since last Thursday, I've really stuck to my guns, tried to reduce risk, and passed on countergap trades and trades that stray too far from my ideal entry point. Needless to say, the last couple of days have really felt like slim pickings and the stocks I have entered have forced me to get out of the trade early (which is good since I follow a solid exit strategy and I don't suffer a full 1R loss).
 
So, what do I do???
Do I doubt my system?
Do I try to reinvent the wheel?
 
No, I take my losses like a man. I suck it up and remember that tomorrow I can possibly make a 5R trade again. That's how the market goes. That's how systems go. Nothing is perfect and I will continue to stay the course and go long or short depending on the setup.
On a more uplifting note... King Jamie continues to kick ass.