Over the past months of research and trying to build a winning plan there is one common thread I have read more than anything else. Stick to the rules, don't break them, stick to the plan or you will be broke in your trading account. Well once again I did not and I am down almost a $100 in my last trade. Maybe it will come back but maybe it won't. If I had stuck to the rules it would have taken an extra day, but I would have had my original entry point that I was aiming for instead of getting all emotional and jumping the gun and once again buying at it's high or in this case, it's low since it was a PUT and staying in the trade instead of sticking to the rules and selling at only a $15 loss, I am at a $100 loss and still waiting for it to come back. Thats how most of my trades have been latey. Not sticking to the rules and loosing hundreds of $$$$. Anyway the common thread in all the research i have done is not foolow the trend, which is important to do, but the most common rule is keep your losses very, very, small. Stick to the plan, stick to the rules. Anyway, I am now at the point that if COF does not come back, I will need to switch to paper trading for a while because I can no longer afford thes losses. Let's hope the Bears show up tomorrow.
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