As of noon the markets are getting crushed with 1.7 to 2.4 percent down in several indexes. May was as bad if not worse than April. Me? I have not been that active as a trader because I was starting to get my lunch handed to me, so I took my medicine on 3 traders and moved on. I allowed myself to fall into that same stupid trap of believing that I was right and the market was wrong. I moved my stop loss orders from their positions and to give them more room. Then I moved them again and then I just turned them off. What a idiot. Those 3 trades cost me $700 bucks and one was a 31% loss. Come on man!
Ok, so here we are the beginning of June and scratched and clawed my way almost back to even as of today. Yes the markets are getting pounded, but I have finally found a comfortable way for me to make money when things get nasty. I follow the S&P500 and Small Cap as closely as possible so I thought, why not just trade it. So I did and my last 4 trades netted me $830, so I’m feeling a little better.
The moral of this story is, the market is always right and you must be disciplined. Come on man!!!!!