Not Sticking To My Trading Plan Cost Me
When I rolled over my contracts for the 10 year T-notes from December 05 to March 06 I didn’t put in the limit orders to sell at 109.00 and 110.00, I was thinking that interest rates would probably keep going up anyway.
Well after 2 months of going up they turned and started coming back down. I noticed when they went past 109.00, I was thinking I should sell one contract. But by then the market was half way to 110 so I got greedy and thought what the heck I will wait and sell 2 contracts at 110.
A few days later the market is back at 108. If I would have just entered my order to sell one at 109 I could have bought it back at 108 and made $1000.
I am so aggravated with myself for not sticking to my plan. I had been doing really good up until that point.
Then I decided I don’t really want to do many more trades before the end of the year anyway. I just want to pay my taxes on what I have made and start fresh next year.
But now that I am out that $1000 I am not real happy about it.
Well after 2 months of going up they turned and started coming back down. I noticed when they went past 109.00, I was thinking I should sell one contract. But by then the market was half way to 110 so I got greedy and thought what the heck I will wait and sell 2 contracts at 110.
A few days later the market is back at 108. If I would have just entered my order to sell one at 109 I could have bought it back at 108 and made $1000.
I am so aggravated with myself for not sticking to my plan. I had been doing really good up until that point.
Then I decided I don’t really want to do many more trades before the end of the year anyway. I just want to pay my taxes on what I have made and start fresh next year.
But now that I am out that $1000 I am not real happy about it.
