As I review trades for the upcoming week, I become infuriated that I will often put in a stop order on the profit side, but neglect to put a stop on the loss side. Most often I could've exited a bad trade for a small loss, but my "hope" that the trade will reverse, turns a small loss into a insurmountable larger loss. This is NOT Acceptable, as a business.
I am upset with myself as I still don't learn from my losses or develop the discipline to exit with a small loss. Don't allow a small loss turn into a snowball of a loser.
I want to control my loss with my current SPY calendar . If SPY goes above 89 I will exit the trade.
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Sunday, December 28, 2008
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