Thursday, March 5, 2009

I will stop overtrading

I've lost a chunk of change the last two days and I know why. I'm like a kid in a candy store with a pocket full of spending money or a recreational gambler with a bucket full of quarters in front of the slot machines in Vegas. I did 31 trades today on top of yesterday's 28. I'm friggin outa control. I need to slow everything down and I've got just the right medicine to cure my addiction.

I'm going to start trading 5 minute charts instead of 1 minute. That should only give me one or two setups a day per market. I'm going to blow out my account if I don't.
If I can't discipline myself to do this, I mine as well hand them the money at the door.

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