Deserving It

Last week should have been more profitable than it was. Actually showing a loss for the week when everything looked so good.

When things are overly optimistic or wildly pessimistic, it pays just to stand back, which I should have done on Thurday. Though we got out of most of our positions, I remained short and chose 2 more stocks to be short in. I am not second guessing myself but am trying to developed a disciplined approach that will maximise profit and minimize emotional decisions.

1) Getting out at the open appears foolish. At least wait till 10:00 or the close to see where the dust settles
2) If one has outperformed the market in a significant way, it is time to wait for next week.
3) Don't let Mr. Cramer effect your entry and exits points. Take his advice for what it is but it is ultimately your money and your research that decides the length of ones trade.