Another tough day. Same deal as yesterday. One tough trade hurt my results; $2.16 trade loss on SKF at 1:00 pm brought what would have been a slight 37 cents gain on the day down to a $1.79 loss for the day.In addition to other problems, my analysis after the close indicates I am trading far too much. Discipline is really what I need and is the hardest for me to attain. I still feel pretty good about my method. I am certain that at this point, self-control and patience are my stumbling blocks. This is not an overnight fix... I will not get discouraged. I will just keep plugging away until I can trade impassionately like a machine and not as a human being; one who races between joy and disgust, depending on how the day is progressing!
These are my first back to back losing days since February 24th - 25th. I don't like the trend!
For the record, one trade was a scratch and isn't counted in any way. I also am long SKF overnight as I could not exit the position in time for the close. That trade is not counted here.
Average win is $1.23 per share. Average loss is $3.94 per share. Ouch, that is a telling stat! And, even without that one really nasty loss, the average is still -$2.15 per share; double my average gain per trade.
24 for 36, a 67% win rate. -$1.79 per share loss.
