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Saturday, June 30, 2012

Biggest red day since day trading live due to poor risk management

I realized that i didn't have a plan and just followed in a trade and as it bounced where strong stocks normally do (off a rising MA), i found myself "hoping" that it'd roll.  I agree with where i added but feel i should have cut out early and taken a quick -.75 loss on AAPL instead of letting it rise to where my next short was.  Great lesson on why not to get in a trade unless i have a PLAN!  

AAPL - Followed short into rising 8MA and paid dearly for it

LULU - Papered long as looked good, great trade!

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