Emotions Are Hard To Handle

[Crewdog 2]

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. 

Edited June 14, 2018 by Crewdog

[Andrew Aziz 98]

Nice!

[Carlos M. 232]

Ouch I feel your pain we all had these types of experiences, coulda, woulda, shoulda. But hey! Green is green! Sweet! 

Edited June 16, 2018 by Carlos M.

[Aiman 86]

It could've been worse if we think about it, imagine it kept going down and down after you averaging down the stock? You could've got with much more loss, but it went higher, which was unlikely then, I mean especially after it broke the VWAP, I would have done the same thing you did btw. I mean going long, then averaging, then it breaks the VWAP which is usually a stop loss, luckily the stock bounced back! Time to get out before it drops again! You did well going out I think:) However,  Looking at five minute candle made it pretty clear that it's bullish. I face the same problem with realized and unrealized amount, and my scaling depends on the number written there, I'll try to disable it tomorrow and see how it goes) Thanks for your post 😄