What is YOUR "trading resolution" for 2009?

S

slapshot

Happy New Year to all!

My new year's resolution for 2009 is to work on discipline, specifically waiting a little longer for the first trade.

What is YOUR resolution for this year?
 
I actually made this resolution back on September 19

On Thursday September 18 - I went long SKF, (it was dropping radidly but figured since financials were in such a downward spiral, it was just some sell off occurring), and held the position overnight - as per the plan

That night the Government banned short selling financials (along with some others)

I lost $13,287.78 before the market opened the next day (Friday September 19)

My resolution is - I will never again hold an overnight position in my day trading account for as long as I live

I take full accountability and responsibility for this loss...

It was just a mine field I had not accounted for


Take Care
 
Quote from FeenixRizin:

good question...


LIMIT and Accept my losses
Be patient in my entry
Take my profits before I think they've peaked
More...

DITTO what "FeenixRizin" says!!
Except my personal choice is to take my profit... "after" I think they've peaked...
However.... I, need to work on that... "realizing it's the 'PEAK' thingy".... and not holding it too long!

Isn't that kinda the same thing... or not?
it's confusing.

Good luck to ya,
TTYL, JMB.


Quote from Redneck trader:

I actually made this resolution back on September 19

On Thursday September 18 - I went long SKF, (it was dropping radidly but figured since financials were in such a downward spiral, it was just some sell off occurring), and held the position overnight - as per the plan

That night the Government banned short selling financials (along with some others)

I lost $13,287.78 before the market opened the next day (Friday September 19)

My resolution is - I will never again hold an overnight position in my day trading account for as long as I live

I take full accountability and responsibility for this loss...

It was just a mine field I had not accounted for


Take Care
More...

OUCH... I know that's painful medicine... but, we all need to experience one of those eventually.... But, OUCH though!!


I will add this though.... I can say that my own personal... over-night OUCH's, have pretty much equaled my over-night YA BABY's!! For what-ever it's worth....

Good luck all.... Happy New Year!!
 
To never get a ride to go anywhere from this guy.



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