I lost all discipline today and gave up all my recent modest gains in June and July in about half an hour selling at the bottoms and buying at the tops of ETN, starting with a trade in which I did not have a stop order in and lost $100 that made me stop using my brain chasing to try to make up.
Stock | Shares | Gross | Fee | Net |
HAS | 200 | 20 | -3.29 | 16.71 |
INFY | 200 | -16 | -3.86 | -19.86 |
RHT | 200 | -22 | -3.28 | -25.28 |
ETN | 600 | -218 | -9.72 | -227.72 |
JCI | 200 | 19.55 | -5.6 | 13.95 |
WFT | 200 | -38 | -3.26 | -41.26 |
-$283.46 |
How can I prevent this type a day in the future:
1) Always put in a stop order.
2) Trade with 1/2 positions after a couple losing trades.
3) Stop trading for the day after a big losing trade.
4) Stop trading after -$100 gross even though the prop firm will allow me to start trades up to a loss on the day of $-200 gross.