Subscribe Feed (RSS)What a mess
February 26th, 2007 by eyal | Filed under Day Trading. |
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I was trying to do too many things at the same time today. Getting used to a new piece of software, adding to some long term ETF positions and my usual trading. The result was a mess. To add to this my increased R meant I was running out of buying power faster than I could keep track of what I’m using. I ended up wanting to add another position and looking desperately to scale out - but from which position? So I lowered the risk back on several positions at whatever price level they were at the moment so that I can add about half a position in another stock. At the end of it all I was just looking at the screen shaking my head in disbelief and contempt. Not that the P&L is bad, just that it all became too messy and out of control. A lesson to be learned there - I can’t do it all at once, and I’ve scaled back my R so that I can trade the way I like with multiple positions.
