{"id":17528,"date":"2012-02-29T08:49:57","date_gmt":"2012-02-29T13:49:57","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=17528"},"modified":"2023-04-10T10:32:57","modified_gmt":"2023-04-10T14:32:57","slug":"be-your-own-better-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/be-your-own-better-trader","title":{"rendered":"Be your own better trader"},"content":{"rendered":"<p>Greetings from Capetown.<\/p>\n<p>I received this daily review from a solid developing SMB trader from which we can learn&#8230;&#8230;&#8230;.<\/p>\n<blockquote><p>I am so disgusted with how I traded today\u2026 probably the most mad at myself I have been in\u00a0weeks\u2026\u00a0I made so many mistakes today\u2026<\/p>\n<ul>\n<li>Overtrading\u2026 trading too much away from good prices\u2026 this is a huge problem in\u00a0something like DPZ and APOL that got\u00a0being persuaded into trading things I should not be like ZAGG\u2026 or SWN\u2026 I am my own\u00a0trader I don\u2019t have to be in the things that others are in if this is no MY PLAY<\/li>\n<\/ul>\n<ul>\n<li>Also RDC, HGSI I don\u2019t need to participate in either\u2026 and the worst part is that my\u00a0goal for the day was to be selective\u2026 I should be trading 10-15 stocks and no\u00a0more as we got out of earnings season<\/li>\n<\/ul>\n<ul>\n<li>In too many stocks again.. I tried to be in every play on the open\u2026 and just end up\u00a0trading more stocks bad..<\/li>\n<\/ul>\n<ul>\n<li>Terrible execution errors in APOL that cost me a good day and such stupid errors too<\/li>\n<\/ul>\n<ul>\n<li>I couldn\u2019t even capitalize on the one trade that I made money in KMI for no other reason\u00a0than losing track of it\u2026<\/li>\n<\/ul>\n<p>The only good thing I can say I did today was, after getting really pissed I got up for lunch\u00a0knowing that I need a break and after leaving down 150 gross atleast I was able to make some\u00a0money back and get gross positive and clear my head as well<\/p>\n<p>Also something I am adapting that I think will help me is, after 11 I am looking through\u00a0my list of stocks, the radar, volume advancers, strong and weak and just writing down\u00a010-20 stocks that traded well and might offer opportunity.. this way I am going to be\u00a0focusing on the right stuff and looking at these stocks exclusively the rest of the day.<\/p>\n<p>Overall, I need to come in more focused, be more selective, and get back to focusing\u00a0exclusively in plays where I think I have potential\u2026 I need\u00a0to start cutting my tickets and stocks coming into march and be much more patient\u2026 and\u00a0the one thing that really hurt me is trying to do too much on the open instead of keeping up\u00a0one or two stocks I am trying to flip through 5.<\/p><\/blockquote>\n<p>Bella<\/p>\n<p>At one point in your trading career you will sit behind or next to or near someone better than you. \u00a0The urge to be like them can be mistaken for actually making their trades. \u00a0They are not you. \u00a0Trading is not a copycat sport.<\/p>\n<p>Yes you can coopt trades from that great trader near. \u00a0And great mentoring is essential to you becoming great. \u00a0Yes you ought to watch that star\u2019s focus, work ethic and preparation. \u00a0Talk with him\/her about how they think through their trading. \u00a0But you are you. \u00a0You playbook is your playbook. \u00a0Your PnL is determined by you making plays that make sense to you.<\/p>\n<p>You cannot copy trade. \u00a0You do not have the bankroll of that great trader for his drawdowns. \u00a0He will get big when you don\u2019t see it and that will be all the difference. \u00a0Yes learn from the pros. \u00a0But learn from the pros to be your own better pro.<\/p>\n<p>Bella<br \/>\n<em><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=cm_cr_pr_product_top\">One Good Trade<\/a><\/em><\/p>\n<p><a href=\"http:\/\/twitter.com\/smbcapital\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n<p>no relevant trading positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Greetings from Capetown. I received this daily review from a solid developing SMB trader from which we can learn&#8230;&#8230;&#8230;. I am so disgusted with how I traded today\u2026 probably the most mad at myself I have been in\u00a0weeks\u2026\u00a0I made so many mistakes today\u2026 Overtrading\u2026 trading too much away from good prices\u2026 this is a huge problem in\u00a0something like DPZ and &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/be-your-own-better-trader\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17528","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Be your own better trader | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/be-your-own-better-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Be your own better trader | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Greetings from Capetown. I received this daily review from a solid developing SMB trader from which we can learn&#8230;&#8230;&#8230;. I am so disgusted with how I traded today\u2026 probably the most mad at myself I have been in\u00a0weeks\u2026\u00a0I made so many mistakes today\u2026 Overtrading\u2026 trading too much away from good prices\u2026 this is a huge problem in\u00a0something like DPZ and ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/be-your-own-better-trader\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-02-29T13:49:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-10T14:32:57+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" 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I am so disgusted with how I traded today\u2026 probably the most mad at myself I have been in\u00a0weeks\u2026\u00a0I made so many mistakes today\u2026 Overtrading\u2026 trading too much away from good prices\u2026 this is a huge problem in\u00a0something like DPZ and ... 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