10/27/16 Recap and thoughts on big red day

Today I took some large losses.  -$6483.  I am so disappointed with myself for letting these losses happen like this.  It is entirely my fault.  In contemplating why I lost so much there is one reason, stubbornness in not wanting to take a loss when wrong.

I can’t even begin to explain how many times today I let the stock go past my stop loss.  So many times I would say, “I’ll just let it go a little further.  I was just green and I don’t want to lock in the loss.  How many times have I seen stocks just peek past my stop loss then crack…”  The excuses go on and on.  Today, I paid big time for those excuses.  I am frankly disgusted I let myself get so stubborn.

No stock has to drop because it’s up big.  Stick to ideal set ups.  Don’t trade just to trade.  No trade is better then a stupid trade.  All obvious statements in hindsight.

I am convinced that the biggest challenge in trading is yourself.  I am my worst enemy.  I am my biggest hurdle.  I have to turn off the emotions and trade my plan like a robot.

I really messed up today and I wish I could turn back the clock, but I can’t.  I will push forward with a renewed conviction to stick to my trading plans, rules and stop losses.  I have to.  If I don’t, I wont make it as a trader.

Below are my charts on the two stocks I traded today.  AKAM and NCR:





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