LOSS: Lack of trade management

Today was a small but tough loss. Why? Because I made a mistake, and missed out on some serious gains. I did many many things right, but one mistake took away all my potential gains and also left me with a loss. Recently, I’ve been making some great trades (which I have not had time to document), but this loss really stung – so I wanted to find time to make this post. Here’s what happened…

Entry: $2.000
Exit: $1.450

Management: Poor

Lesson: Don’t sell so quick if there is not signal? Didn’t hit high of day? 15m chart was looking fine? Option expiry was very far out? Market was turning down? Sold too soon!

Unfortunately sold on the first peak.
Unfortunately sold on the first peak, in hindsight I should have given it a looser stop as it didn’t go above the previous high of day! Excellent stock picking, excellent entry, but poor trade management caused my loss today.