Warrior Trading Blog

Day 12 of the Small Account Challenge: Narrowly Avoided Less | Ep. #13

Day 12 of the Small Account Challenge: Narrowly Avoided Less | Ep. #13

[smart_track_player url=”https://www.warriortrading.com/wp-content/uploads/2017/01/Podcast-13.mp3″ download=”false” ]

Today was a close call!  I started the day with a technical glitch in my Suretrader account.  I tried to take a position in $CATB but the order didn’t seem to reach the server.  I ended up sitting on the sidelines during the initial breakout and then got in on the first pullback.  I promptly lost $580, making it my biggest loss in the Suretrader account.

At that moment, I felt my blood pressure rise and the frustration begin to set in.  I quickly started looking around for another trade I could jump right into.  In my mind I wanted to recover the loss ASAP.  As soon as I realized I was allowing emotions to take over my trading, I stepped back.  I took a breath, and reminded myself that this is not a big deal.  I’ve had a great hot streak, and if today is a red day, that’s OK.

I switched gears and started looking at 5min setups, and that’s when my attention was drawn to the clean pullback $GLBS was offering.  I jumped in with 1200 shares at $8.50, and rode the momentum over $9.00, and locked in a nearly $800 winner.  I redeemed myself by being calm, cool, and collected.  I’m finishing the day +$47.15 and I’m glad I was able to exercise self control and NOT give in to the death spiral of revenge trading.

 

Daily Video Recap