The individual trader really has to have an internal fundamental understanding of what these addages mean before getting into the thick of things. It's so easy to treat this system like an arcade game, just clicking away thinking you'll work your way out of the hole you dug yourself into, as well as convincing yourself that you are correct in your opinion.
SIM-mode can certainly help with perhaps getting a pulse on a fast-moving stock, but it's not exactly an accurate depiction of how things might turn out if you were trading with your own money; both in how your orders will route, as well as how your mental edge will hold up.
So, my lessons learned for today are:
1). Sim-mode rules! It can be fun, AND it can teach you some valuable lessons if you follow through with a mental review your performance.
2). I don't trade fed-day with real money for a reason! Just when you think you have a lock on the tape, you can easily get completely spun around and tumble in the opposite direction.
On a positive note; I bought (NOT in SIM-mode) some NOV this morning at $49.50 as a swing trade. It just looked very Oversold to me and seemed to have found strong demand after testing the March lows. It currently looks strong; closing at the highs of the day with strong volume, could see some continuation tomorrow morning.

No comments:
Post a Comment