Registered: Dec 2006
01-14-11 03:02 AM
Another day, another lesson learned. Mean reversion strategy off the open would have been great had I taken my profits and ran. Unfortunately I tried to squeeze everything I could out of the trades and it ended up costing me. For example, faded PPL off the opening move. Trade came in my favor 18 cents. I was looking for 20. 18 cent profit turned into a 20 cents loss...too stubborn to run a trailing stop, too stubborn to just let it go. Log the trade, learn from it, and move on.
Funny how what got me into the rut will fight me getting out of it: THE MASS BETWEEN MY EARS! Goal tomorrow as it is everyday, stick to my rules.
I still have half of the year end trade on but will be taking it off MOC tomorrow.
Net P/L -1800 on 18k shares