I once sold short 1000 shares of NOVL(20.25) @ the close for a swing trade. An earnings warning came out after the bell. After Hours dropped the price to 11.75--I bought those puppies back and gave them back to their rightful owner.
i didn't want to post this, but i have to vent. i was short ELN and i covered the morning of 6/26/02 around $6. my system did not tell me to cover, but i did anyway because it was such a bad morning for the stock market. four days later the stock closed below $2 and my system would have kept me in. when i look at the chart, i seriously want to cry. lol anyway, i learned a lesson.....stick to my system no matter what i think.
Some thoughts on selflessness and trading: <a href="http://money.msn.com/content/p24708.asp">Source.</a>
great thread. i am also thinking about, who to overcome those psychological limitations within a trader. the "to do so as if" is not going far enough IMO. you have to open a second account, place an "operator" on the other side of your desk and advice this person, strictly to open the opposite position to your expressed "feelings" and "opinions" referring to the market at any time of the day like "oh no, to late to enter, price is too HIGH/LOW..." -> in the same moment this shadow-person has to go long/short... the same with exiting a winning trade to soon, one of the biggest psychological threshold in this journey, i believe... happy trading
No, I am not running for anything....you must have me confused with "super_ego" in his "I'M HOME MAMA" thread.
You missed the point - what I' described was more akin to going back over my trades of the day to see what I would have done if I followed my own rules that day. I don't advocate paper trading per se.