I read this after my previous post. Here is a suggestion to hopefully help with your discipline. Make a checklist of your entry criteria, whatever you use. Make a separate checklist for exit criteria (both for profit and for loss). Then hang them where you can see it every time you trade. Do not enter a position unless it meets your entry criteria and no matter what your heart or mind tell you when the exit criteria are met close the trade. See what that does for you. Sometimes having the rules stare you in the face can help a little to over ride the emotions that cause you to break your own rules. If that doesn't work, once you are in a trade use a OCO order to pre-set your for profit and for loss exits and stop watching the screen...no peeking. Only check it at the end of each day to see if you are still in it. If you can stay disciplined with following your rules it will become easier to see which rules need to be adjusted. If you trade by the seat of your pants and make up rules as you go you will never be able to tweak it right.
No actually I bought it at all time high and there was no resistance over head. Your green arrow is little off. I bought it some time in april. Asti apparantly had a stipulation where if the stock was over $10 for 3 consecutive days then the insiders are allowed to sell their stock. The stock tanked after it was over 10. I should have dumped the stock lot sooner, but i was hopeful it was going to turn around because of the sector. By the way at the time fslr and asti were the leaders in that group. Later on all the other solars went nuts. I was too early to the party. I bought the stock becuz i thought it was breaking out and there was no overhead resistance
Thanks. I know this is what I need to work on the most. Iam gonna rewrite all my rules and try to stick to them this time.
Ace210 - hope you are doing well. Not to recommend a stock, but since you had not so good experience with solar stock and now solars are way down...and the rule of trading is: "expect unexpected" - to make long story short I will be loading AKNS and AKNS May7.5 calls first thing Monday morning. Although I suspect that artificial buying wave will carry onto open, so I might spread the buys. DavidDT http://www.trading-to-win.blogspot.com/ "Wall Street never changes, the pocket change, the suckers change, but Wall Street never changes, because human nature never changes" Jesse Livermore