Let me just say that the only reason I make money is when I follow my own strategy that I have planned out before hand. I got my ass kicked today, from not following the plan.I Was up 6 bills in the first hour, then started breaking rules and ended up down 1k.I caught the morning rally, pushed by Citigroup and financials. I then thought it was overdone and tried shorting. I quickly lost my money I made by getting stopped out of my short.
Then the worst thing that happened,,REVENGE TRADING,,,I WANT MY MONEY BACK!! I BROKE THE RULES,,AS USUAL....The market reversed and I tried going long, because I had already tried going short. I lost a ton of money averaging into a crappy long on ER2. I got fed up with the long, realized I was on the wrong side, because my system never once gave a long signal all day, and I went short. I recouped from my big drawdown and ended with about a 1k loss. Had I held my position from where I reversed short, I would have made a few grand, however, I started getting fancy with trailing stops, and adding to position at price peaks, and I ended up with a loss for the day. At least it wasn't a huge blowup.
I can't wait to get back into the markets next week and start trading and folowing my rules, almost done with finals and having all this studying behind me. For the week, I still was able to make $2,700, which is the main thing keeping me in a good mood after screwing myself over today.
HPT
PS- DT, keep your chin up bro, this week was tough.
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