Plan of Action

I mismanaged my last trade and a winner turned into a loser. If I continue to let this happen my bottom line will be affected in a big way. I could start using a trailing stop but I really don’t like them because I found that I was getting out of trades way too early. I have started using manual trailing stops, moving stops down above support levels as they got broken. I failed to do that last trade which cost me. I will make sure to set alerts that wake me if price breaks the next support level from now on.

I noticed that when I became more public about my trades fear began taking me over a little. As a result, the past few trades posted on this blog were not as profitable as they could have been. I think, however, that this blog will help me in the long run because I will be more cognizant of my rules (must be 2:1, only with trend when one is in place, wait for retest, etc.) when I place trades, which is also critical for my bottom line.