Ooops! I ALMOST Did It Again!

Gross: +$487.51
Net: +$404.34
Loss From Top: $157.10
Trades: 75
Shares Traded: 70000

Stocks Traded Today (net profit/loss):
Advanced Micro Devices (AMD): +$280.16
AT&T (T): +$162.35
Home Depot (HD): +$86.47
Exxon Mobil (XOM): -$0.87
Boston Scientific (BSX): -$18.00
Corning (GLW): -$19.49
Walmart (WMT): -$86.25

Another day, and ALMOST the same result as the previous two days.

This morning I was very careful (as I usually am), but when the afternoon rolled around, it felt like Mr. Market was prodding and poking me, as if trying to egg me on and tried to get me to start trading angry again.

And it almost worked!

I started losing money and I could feel myself getting all stirred up again. I managed to catch myself and I went out for a long walk (for a whole hour!).

When I got back from my walk, I had calmed down again and I hardly put on any trades in the afternoon (as there were no opportunities).

I think if I had stayed and not gone for a walk, I could just "feel" that another bad day would have been in the works.

I'm just glad I had the patience to wait things out...and believe me, there was lots of waiting. Yesterday someone had left a comment about how trading is supposed to be boring and I remember reading that from somewhere too. And quite honestly, I sincerely believe it's true!

Almost all the good days I've had as a trader, I've always felt that they were kind of "boring" in a sense that very few mistakes were made on those days and the reason there were few mistakes was because I was willing to wait for the right conditions and there was complete focus on when NOT to trade.

Though today was not particularly spectacular, I am quite pleased considering that the biggest position I had on today was only 3000 shares. Had I traded like my normal self, the profits from the good trades would have been much larger - the AT&T (T) trade I'd usually go in for at least 5000 shares and the AMD trade I would have usually gone for 2000 or 4000 shares (see good trades below).

But today I just wanted to stop the bleeding because if I had another down day today, I would have done a lot of thinking over the weekend. At least with today's results, I can hopefully relax and enjoy the weekend.

I must be a stronger person and not let my emotions get in the way. If I simply follow my rules and keep a level head, consistency as a trader should not be that hard to achieve. I also must realize that if I want to achieve this, I must have patience.

I should start doing or bringing something into the office that can occupy my time when the markets are not ideal for trading. In the summer it was easy - I could just go downstairs and go for a walk. But winter is coming, so I'll have to kill some time in other ways.

Anyways, I hope you all have a great weekend. I, for one, am completely exhausted, both mentally and physically from this weeks' trading. I'm gonna get myself some good rest and so that I'll be ready for Monday!

Good Trades
9:38AM - AT&T (T) was moving up very strongly while the Futures were flattening. When AT&T reached the $32.50 level and it broke, I went long 2000 shares. I took half of my position out for a winner, but the move on AT&T was so strong, I went long another 1000 shares at $32.58. I got out as follows: 5-cent winner (2000 shares), 12-cent winner (1000 shares) ($220 profit before fees ; In: 9:38:34AM ; Long 2000 shares @ $32.50, long 1000 shares @ $32.58 ; Out: 9:43:10AM)

10:01AM - Advanced Micro Devices (AMD) was tanking hard and so were the Futures. I tried to get short when AMD broke the $26.00 level, but missed it, so I got short 1000 shares at $25.99. This stock just tanked down really hard and I held it until I felt that the move was over. I got out for a 29-cent winner. ($290 profit before fees ; In: 10:01:43AM ; Short 1000 shares @ $25.99 ; Out: 10:05:22AM)

Bad Trades
None.