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Trading Confessions: Moving Stops, Holding Too Long & Only 50% Profitable Trades in the Last 2 Days

day trading trading recaps Dec 30, 2020

Hi, I’m Lindsay Duff and I’m an imperfect trader! I feel like I’m in Traders Anonymous right now because I have some confessions to make… and we’ll get to that BUT…. First off—HI Y’ALL!! IT FEELS GOOD TO BE BACK!!

I have been spending some extended time with the market the last few days.  I hopped right on it Sunday night when it opened, traded yesterday’s session for almost 4 hours, hit it again last night last night and then back at it again today.  This was so I could start getting some grease kicking through the wheels after spending, what felt like a lifetime, with one thing after another here (dad was sick, then COVID, THEN food poisoning).. and I’m SO glad to have my brain back! I would look at the market for a few weeks and just couldn’t make heads nor tails of it.  I’m glad I had my wits about me to stay out and watch instead of try to participate. All in all—I did come out positive but I’m definitely not super proud of all my moves.

Sooooo let’s get down to the nitty-gritty—time for the confession part. (I’m taking a DEEP breath as I type this…) I really hate to admit this because I have been SO against it—but I actually moved my stop—TWICE!! I KNOW!! Like the ULTIMATE no-no in my book!!

Honestly—it was hard for me to even want to put this video together to show you my trades because they weren’t exactly things to write home about.  I got out of many trades too early and held my stop too long- using the “fingers crossed” method—which RARELY works.  And as for my stop move—it was definitely ego and frustration.  The first time—it worked out in my favor (and resulted in an hour and a half trade).. but the second time, it came back to bite me in the boo boo and remind me why I don’t like moving stops…. There is only one instance I can see using it—with a market order—and even then, it has to be HIGHLY selective for the reasoning.. .Otherwise, get out, call it a wash and wait for the right move.

Even though it is tough to share this with you, I absolutely know the value in it.  It keeps me on track, keeps me honest and reminds me that, not only am I allowed to make mistakes—I’m allowed to come back from them.  And y'all—there were some AMAZING DOOZIES of trades in there too!  Probably my saving grace—for real!  When I wait for, what I call the “dramatic move” and you’ll hear me talk about it in here—things tend to work out muuuch better!

So bring the drama and quiet the noise, because I’m ready to take on 2021 full force my friends! I will be back next year with bells on FOR SURE!!  Much love all you amazing people!  Looking forward to catching you on the profitable side in 2021 peeps! Alrighty folks—that a wrap!

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