Friday, November 18, 2011

Personality

I've been trading for a few years, but I don't think my mindset is set right to be a good trader. Every time I enter, 'Ok, just trade my plan and don't get emotional about tick-by-tick action.' Yet, I still suck at managing my emotion.

I sold NG put a few days ago. As soon as I entered it started going against me. First day, no big deal, I have a plan if it goes down or up. But what I really wanted to happen was that NG goes up and my put goes worthless immediately to get the full premium. The 2nd day, it kept going down and I didn't like it. I started checking NG quote like every 30 mins even if this is a long term trade like a novice trader.

Fast forward to yesterday, NG news came out with smaller storage than expected, so it shot up. I got excited, but shortly after it started going down again. I'm thinking now, I get so excited and discouraged on tick by tick action.

I know I'm not overtrading for sure, so I just really need to sit back and relax IF I really want to be a good trader.


No comments: