Im so mad at my self right now. One of my problems recently has been getting out of trades when i see (usually small) profit and not following my plan all the way to my exit target. And this is what happened today...
I got in at 33.18 with 500 shares for a 5ORB and as soon as my order filled i was down $50... damn. Didn't look at the spread. Well the price dropped a bit toward VWAP so i decided to add another 500 shares at 33.04 which brought my average down to 33.11. The price dropped below VWAP and i started to panic a bit. But it came back up and my unrealized showed $60 over break even, so i got out. The combo of the bad spread and the drop freaked me out... even thought the 5 min and even 1 min chart showed that i was in an awesome spot... So i told my self i wasn't going to look at DBX again for the day. Well like i always do, i came back later just to see what happened.... DAMN! WHY?!?!?!?!?! STUPID EMOTIONS!!!! I was in such a good spot and the charts backed me up the entire way! I would have started getting out around 35.03. A damn 2 point gain, and its still climbing....
So a hard lesson. A lesson that i already knew but find hard to follow when emotions come into play. I can make bigger profits and lower losses.... if i follow my plan and dont let those stupid emotions get in the way. One way to help with this, that i found, is to remove the unrealized for each trade. To only follow the charts, level 2, and other signals. Not seeing $$$ helps keep emotions in check. Sadly im on a work trip and on my laptop using an old layout instead of my desktop where i dont show it. Should have removed it first... oh well. Ill take my $200 and run for the day. To emotional for anything else.