During lunchtime, however, a headline hit the wires which was picked up by my news feed that CHNR would have to seek continued listing by filing a new listing application with Nasdaq. This was major news, and the stock began to react in a hurry. My ticker went solid red and I knew it was time to take my remaining profits now that the landscape had changed so drastically. While I don't mind giving an active stock some room to move, it was the fact that a significant headline had come out that caused me to sell. The bad news is that as humans, we're prone to mistakes and that means repeat offenses. We might not have it within ourselves to keep a mental stop and act on it when we should. Blame it on not paying attention, blame it on a slippery market maker, you can evenBlame it on Mexicoif you need a reason, but the truth is that failing toput our original intentions into an actionable planis what can make a bad trade even worse. Whether it's been on the winning side of trades where I've tried to squeeze the last $0.50 out of a stock, or it's a losing position that has been trying to tell me I'm wrong (those numbers areREDfor a reason!), I am guilty!
Oddly enough, ascheapas it is to enter trades with commodity tips structured so affordable, have you ever noticed just howexpensiveit can be tostayin a trade? tart with the bare essentials for trading: a level 2 window, an open positions window, a chart of the futures, a chart for your stocks, and a ticker. Add only what you need to this list, and soon you'll be able to monitor positions and market momentum without getting lost in the shuffle. Simplify your layout and spend your time and energy focusing on the tape this year rather than suffering from information overload!
