MNK Trade on Feb 11, 2014 09:41 from Markmandy54: Tradervue User Stock Trades.

Great setup, and i was trading my P&L trying to build confidence and micromanaged this. Yes it was a winner, however the only way i will grow is by trusting in the setups and process. Although i had a much bigger day today, i still am cutting my progress/success short by not trading the charts to the best of my ability.

Execution detail:

Date/time	Symbol	Side	Price	Position
2014-02-11 09:41:23	MNK	buy	$64.800	long
2014-02-11 09:41:41	MNK	sell	$65.250	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=MNK&trade=837418&end=20140211104141&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=MNK&trade=837418&end=20140211121141&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=MNK&trade=837418&end=20140211160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=MNK&trade=837418&end=20140313&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

oly_BOWS

2014-02-11 11:26:35

If banking some wins helps, maybe worth it. Nice entry.

Paper_BOWS

2014-02-11 12:10:36

Nice entry Mark. Don't be afraid of taking losses.. You need to have faith!!

jmoscate_BOWS

2014-02-11 17:43:45

Agree with everything you said. Even if you keep 10 shares for lotto, it's a start for you to gain a good habit without risking much since you already took most of your profit. Just a suggestion

EL_BOWS

2014-02-11 23:24:05

It's always great to book winners. But maybe, when you've got a great entry like you did, try scaling. If it pops, even better for the confidence. If it doesn't, you STILL have a winner (assuming you set your stop at your buy price). Like oly said, even if you just leave a small portion for lotto shares, it can make a big difference. When I'm feeling like I need to book some wins, I will often take 50%-66% on the first sell (instead of my customary 33%).

Markmandy54

2014-02-14 23:35:03

Taking winners off early is the worst thing a trader can do as it skews everything. This is currently my biggest issue i'm working on. Once i can internalize that connection (not sure why the hell it won't happen, lol) i know it's game over and i plan on upping my size considerably.

MNK Trade on Feb 11, 2014 09:41 from Markmandy54: Tradervue User Stock Trades.

Comments

Leave a comment about this trade!

Editor syntax