Today could have been a good day on the options front, but I decided, in a drowsy state, to sleep in. I slept until 7:00. My alarm, which I had set for 6:00 (PST), continued to bleep. By 7:00 AZO had risen from a low of 123.5 back on up to the ~128 level. I felt somewhat disappointed.
I should have known that any sort of gap down would become filled by the end of the day. I won't be too hard on myself, because I did limit my losses by risking a fraction of my account; but, I should have made a greater effort to protect myself, even if that meant forcing myself up or getting to sleep early.
Something good did come from it. I learned that my ability to choose stocks has improved. While there were plenty of other good, and some better, choices out there, I succeeded in picking a stock that did drop. And it dropped enough to increase the value of my puts some 10+%.
In tandem with developing new technical trading techniques, I am working on successful mental strategies for achieving success in trading. I realize that I need to let go of loses and take what I can get. I had a chance later in the day to pick up a 5%+ gain, but held on stubbornly. I have gotten better on letting go, albeit I have not hit the levels I would like.
This brings me back to blogging. I feel that my maintance of the site has improved somewhat. Along side my understanding of stocks and the economy, I would say reasonbly well. But I am definitely nowhere near where I would like to be. The gap is large and difficult to bridge--which, I think, is the point of this post: Don't give up. Keep pushing foward. In time, and with effort, you will be able to see a better tomorrow.
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7 comments:
I've been reading your blog the last couple weeks, link from Rob at Stock Insights. Great post on point and figure charts. Blogging can take up time. It helps me learn, but I want to be a trader, not a blogger.
Thank you for the compliment on the point and figure post.
I agree with you. Blogging helps me learn and forces me to understand, ideas as well as learn new ones. I'm looking to become a trader as well, although I would enjoy tutoring/guiding people when I become good enough.
Take care Charlie; added you to my links (thanks for putting me up in yours).
CP,
Email me please. I need to spam you. (It's under my profile.)
-DT
just sent an email.
Ok I thought it was just me. I figured that maybe I was not managing my time properly and that is why blooging seemed so taxing. I feel like a slave to my computer everynight. Being a trader is easier, but I too want to guide people while I trade.
PW
PW,
It's not just you =)
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