Friday, February 4, 2011

Why you need to hold...

I'm doing post to remind myself why I need to hold on to trades that fit all of my criteria and work perfectly right from the start. I'm looking the set up in $EEE that I tweeted to buy on a break of $3.00 on huge volume. That was exactly what happened. However, had I been in that I trade I would likely have booked a quick 13% gain @ $3.40 off the 1 minute chart aka. a day trade. However, I am not a day trader and this is why I need to hold on the set ups that are working!

So grabbing for the quick 13% gain that came in a few minutes would have caused me to miss out on the bigger 50% gains from just holding for two more days.

Be disciplined and follow your rules!

No comments:

Post a Comment