Thursday, November 8, 2007

Might be steaming, Long 100 SKF at 101.24

I think I'm trying to make up for missing a trade because I executed this on fear of missing out.

This is a dangerous time. The natural tendency is to makeup what was lost on the next trade. While that may work in professional sports, it does NOT work in the markets.

The market does NOT discriminate between the rich or poor. It discriminates between who is right and who is wrong.

Anyway, since I'm in the trade, I'm going to set a 10% stop and see what happens.

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