self reflection on a mistake...
It's been really hard controlling my own emotions...it's been a long time since we see such dramatic stock advances that I find myself unable to control my emotion to wait for a pull back. Yes I bought, at close to the top. I had tremendous patience during the last few weeks..market had been declining dramatically, and I actually did quite well by firmly following the rules - most importantly by controlling my emotions and not trying to catch a bottom.
80% of successful trading is based on your mind..on how you can control it..it is just when you feel the estacy of jumping in that you shouldn't..that's what amateurs do. And once again, I find myself going back to the drawing board, because I've just committed one of the deadliest sins that I know I shouldn't be breaking. I let emotions run and I paid dearly for it.
Emotion control + risk managment = job #1
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