[DISCIPLINARY]
Discipline is a hard nut to crack, and it's proving a bizarre barrier for me to overcome. Maybe I'm just running to fast with this but not sure. It's starting to look like basic human psychology makes 80% of the decisions with these stocks!
I need to realise that for now, I want to be a swing investor - not a day/week trader. I can't sit all day and look at Quotestream and be like, "ok, I might sell some of this for a few quid". Or cut losses on an intra-day basis. That's not what I'm in the game for.
But I can't help it! Level 2 is a gift and a curse. It provides me with some good insight into the market, but also provides me with excuses to enter and exit trades a lot more frequently than I should.
I'm back in DES - I shouldn't have sold in the first place, even though I made a profit. And I have on order for tomorrow, another IEC ticket. I spent about an hour comparing IEC with SHI, debating which one to buy. Blatantly it should be SHI, not one reason points towards IEC - except this huge gap after the drop, and the fact they have a billion oil barrels in reserve.
The tricky part for me is this: IEC may or may not close the gap, and, like Severfield, it may take a long long time to do it - and I will know when it does. SHI provides a probable to likely 10% profit in the next 2 weeks. On paper it looks like it is beginning a new reversal in the channel and could be set for a run - it's broken the recent downward trend.
The one thing that is the most frustrating: It's always the next hour that counts. Literally, nearly all the stocks I look at will make their mind up the next day. And it could go horribly wrong. I could get into SHI for 778 tomorrow morning, but it could go down to around support at 690..
I guess what I'm doing here is talking myself out of the IEC trade and into SHI. I think I'll cancel the morning order for IEC. Instead of replacing that with one for SHI I will wait to see what it does tomorrow.
Yeah I think I'll do that..
But £100 says IEC is up over 5% tomorrow.
I need to realise that for now, I want to be a swing investor - not a day/week trader. I can't sit all day and look at Quotestream and be like, "ok, I might sell some of this for a few quid". Or cut losses on an intra-day basis. That's not what I'm in the game for.
But I can't help it! Level 2 is a gift and a curse. It provides me with some good insight into the market, but also provides me with excuses to enter and exit trades a lot more frequently than I should.
I'm back in DES - I shouldn't have sold in the first place, even though I made a profit. And I have on order for tomorrow, another IEC ticket. I spent about an hour comparing IEC with SHI, debating which one to buy. Blatantly it should be SHI, not one reason points towards IEC - except this huge gap after the drop, and the fact they have a billion oil barrels in reserve.
The tricky part for me is this: IEC may or may not close the gap, and, like Severfield, it may take a long long time to do it - and I will know when it does. SHI provides a probable to likely 10% profit in the next 2 weeks. On paper it looks like it is beginning a new reversal in the channel and could be set for a run - it's broken the recent downward trend.
The one thing that is the most frustrating: It's always the next hour that counts. Literally, nearly all the stocks I look at will make their mind up the next day. And it could go horribly wrong. I could get into SHI for 778 tomorrow morning, but it could go down to around support at 690..
I guess what I'm doing here is talking myself out of the IEC trade and into SHI. I think I'll cancel the morning order for IEC. Instead of replacing that with one for SHI I will wait to see what it does tomorrow.
Yeah I think I'll do that..
But £100 says IEC is up over 5% tomorrow.
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