Paul J Singh

Micromanaging Trades: I’m Making Some Progress

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Paul J Singh

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Just after entering my short position in BOOM, the stock jumped about 1 1/2 points but was still under the initial stop. Although the stop was set just above $38, I was inches away from clicking on the “cover” button once BOOM hit $37.50. Luckily, I remembered what I had wrote about micromanaging and how it hurt my August performance. I walked away from the computer, as I didn’t want to tempt myself, and stuck with the trade. The stock is now trading just below my short entry and I have currently saved myself over $650.

I know it’s going to be a tough battle, but it looks like I’m making progress in when it comes to micromanaging.

2 responses to “Micromanaging Trades: I’m Making Some Progress”

  1. Jack Avatar
    Jack

    Great point. I have been in that spot just recently. Seems if I don’t take a break from being fixated on every single tick, then my mouse finger starts getting itchy.Glad to hear BOOM worked out for you.

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  2. The Market Speculator Avatar
    The Market Speculator

    Not fixating on the ticks sure does help, especially if you are a swing/position trader. I tend to be critical and don’t pat myself on the back often, but I a proud that I was able to fight the urges to micromanage and stuck with the BOOM trade. If I can keep it up, it may mark a real turning point for me.

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