ThanX Dom for sharing. Here is a list of the areas I'm currently focusing on right now:
- Timing: I trade the first 5 minutes and pre-markets horribly. However throughout the day once I find a well-defined orderly uptrend with pullback I'm consistently successful. I hope that Camtasia will help so I get involved earlier in recognizing the setups. Right now I'm in the right plays just can't seem to get involved at the right entry levels. I'm improving in this area and waiting for pullbacks but again I tend to get anxious abandoning my thesis and cutting my profits way short. Also for the past few days I've found myself having to fight to get back to par because I've started the day in hole. For the next few days I'm not going to make a trade for at least the first 5 minutes.
- Chasing: I have a problem with chasing breakouts only to see the bottom fall out underneath the false breakout and then having to wait until the stock comes back for another test... usually I'm lucky because I can get flat only to watch the stock race off without me. Dom's tape reading has really helped me better identify these false breakouts.
- Feel: I need to get a better feel for the momentum plays and sticking to my trading plan/thesis especially the exit target. I tend to cut my winners short because I used to have a predominant fear that the trade is going to drop out especially when it's basing and just trending sideways. Again tape reading is helping me here. Gaining experience over time is the real solution here.
ThanX for sharing.
Sounds like a solid plan. I really think that you will find Camtasia very useful. Because you can really sit back and replay as much as you want to see what you missed, or that everything you saw was spot on.
ReplyDelete