Trading Psychology

For the month of September, I will finish reading Trading Psychology by Brett Steenbarger.

Have only executed one trade this month, however it was a successful one. Shorted ARNA at 8.9 only to see it shoot as high as 9.39. My stop was at 9.40 and I think there must've been some divine intervention because really!?!?... .01 off from getting stopped out?! I would've died.

A few lessons, I was close to covering my position when it didn't start to go my way. Thankfully I was disciplined enough not to. Another note, I need to scale my position sizes better according to the amount of risk I am willing to take. Well 8.9 to 9.4 would've been 100 loss, including 14 trade so that's right around 2%. I guess its not that bad, but it would've hurt really badly as the first trade of the month.

It takes more gains to come back from an original loss.

Ideas I have are creating a system where I will scan for weekly patterns that match my sentiment on the either the direction of the market, or pumped up stocks that have gone "parabolic" according to Nate.

I need a scan for short term buys, short term shorts. Also, interested in predicting the overall market and it's direction. After reading about Trading Psychology I will try and learn more about Market Breadth. Technical Analysis will come next for November.

Goal for the month is $305.10. Let's get it.

"See one, do one, teach one"