07.27 Notes to SelfPosted: July 28, 2011
I got ballsy today after I lost a bit long on LO, buying shares of NFLX, BIDU, SLV, & GLD. I had become less concerned with finding a perfect entry for the metals (maybe a mistake; I will see). I was up on all of them but 1 early in the afternoon, then everything took a downturn.
At some point over the past few days, I have forgotten to ACTIVELY protect profits (was only protecting POSITION–by not getting out: emotional). I didn’t pay attention to my rules, so I paid $ instead. I made myself sleepy watching AAPL’s performance, & also letting the noise sink in. “It may run above $500.” Of course it might; that doesn’t mean it won’t revisit $300 1st!! Luckily, I am only down a small percentage–insignificant, yet meaningful.
Dumb thing is I was sure that AAPL, @ least, was setting up for a nice short. If I saw the short early, why didn’t I sell? (Ah; because I wasn’t I wasn’t protecting profits; nvmd). Laziness made me into something other than a day-trader, probably because I’d have to start paying more attention again; I paid $ instead.
Reconsidering all positions, including AAPL. Leaning towards holding metals; prefer GLD to SLV.