Successful trading is one long journey, not a destination
Peter Borish,
Mastering the Trade
Read the first few pages of Mastering the Trade. What a great book to start my week. Lots of good information in the first 15 pages. I’m really enjoying reading this book. Even though today was a very lazy day for me. I think it’s because I stayed up very late last night. Not having my wife at home messed with my routine and my schedule.
Besides not following my routine, I also stayed away from my Trading Strategy and I ended up having a red day. Down $105 for the day. One Trade, and it didn’t go well.
The Alert system I am supposed to be using gave me an alert for $ZUMZ at 8:40:00 for a price of $31.64 and climbed well over $33. Which would have been a great day for me.
Instead I got into $GCO, from an alert system that I just started using. Something that I haven’t tested much and have doubts about. Not only that, but the spread was very large and because of the large spread I lost more than what I wanted to lose.
My Red Day is because I didn’t follow my strategy and deviated from what I have set up for myself.
Tomorrow is another day and I will learn from today’s mistake and trade only what is in my strategy. From the Alert system that I created for this strategy. I need to stick to it and wait it out. I know sometimes it will lose and sometimes it will win. But I need to give it time to make sure it will work.