Today made some huge changes with my trading provider. I was able to work out a great deal with a prop firm, and that means I've basically taken out the commissions factor. I expect my trading performance to increase dramatically, since I won't have to worry about getting run over by commissions. That being said, i will take easy for maybe the next week as I make the transition. Hope every will work out. I'm pumped at the ever greater opportunities I can trade now with the cheap commission structure.
Anyway, trading today was lackluster. I caught a really nice bounce in $SQNM due to its huge gap down. Then I basically gave it away being whipsawed by early morning market consolidation. I only made 2 trades subsequent to $SQNM, both small positions and I lost because of commission costs. I was later fortunate enough to make everything back + some by shorting FAS at 8.55 in the afternoon.
The important lesson is always: "capital preservation = job # 1" - Brian Shannon. and by keeping losses really small, you can make all the losses with one big winner. But during this process, you should never give up on the proper opportunities and never trade base on revenge. The market is ALWAYS right, and every losing trade need to be processed and learnt from before committing another trade.
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