Quickie

I believe I ended in the negative last week. Traded 2 days with profits, 1 day no trading, and 2 days negatively. Ended Friday negatively and I think it wiped out my 2 profitable days and then some. Haven't done the analysis yet as I've been super busy.

Here's what happened on Friday. On Thursday evening I began reading some of the opinions of some of my friends on what they thought would be an ugly Friday. Of course, I LOVE bearishness in the market. Yes, call me sadistic or something.

Friday was a busy day, but I put on a bearish trade or 2 or 3 with some big stops, as I thought they wouldn't get hit. Anyway, they got hit and I got hit hard. Those big stops would be both on the profits and costs. I EXPECTED more bearishness from the news of the day, but the market rebounded from Thursday's action. I wasn't around to find out why, as I set my stops and went to go do my Friday stuff.

Well, to my dismay when I came home, my positions were all closed at BIG COSTS.

Quite a few lessons here. Normally I set my stops (profits & costs) closer. I did not as I wanted to give the market room to work. It worked, just AGAINST me. I listened to other's opinions, rather than just look at the technicals. The technicals did give more bullish action than bearish, so having bearish positions with huge stop costs was NOT a smart idea. I saw these things before I left my positions to fend for themselves.

Well, another hard lesson to learn. Better to learn it on a small position than a large one. Got lazy and went against my trading plan. The market did not reward me, which is a good thing, as when you do wrong things and get rewarded, it just puts you more in a gambling mentality to do it again. I got slapped big time. Ouch!

I hope to have the analysis done tomorrow evening for Friday and a summary of last week.

The market every day is great, regardless of what I do.
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