Friday, May 9, 2014

Not feeling it -0.25

Not feeling it today. Missed a couple of decent setups. Also, did a stupid thing. Was mad for missing the boat, after seeing prices rocketed up and kept going higher. Therefore, I went long on the next bullish candlestick that showed up. Retarded! Ended up buying near the high of the day (2 ticks short of the high). Buying high + selling low = donation. 

Should have also followed my gut feeling to exit a losing trade early to avoid a full stop loss. However, hope always prevented me from doing this. Hope that the price reversal was just temporary. Hope that prices would move in my favor again. Also, afraid that should prices go in my original direction again, I would miss out by not sticking with the trade. Need to jettison this and just bail at the first sign of trouble. Just leave hoping to the Mega Millions and Powerball lotteries.

E-mini S&P 500 Futures chart for Friday 5/9/14

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