Why You Shouldn’t Hold a Grudge Against a Stock

Over the past three trading sessions, I traded UPRO on three separate occasions. After taking losses on the first two trades, most traders would have understood if I didn’t try trading UPRO again. 

But I did. 

I took small losses on the first two trades by keeping my stops on each trade very tight knowing that there was a possibility that the market may continue to drop. I also had confidence that this market sell-off on Wednesday and Thursday wasn’t likely to last and that a bounce would likely ensue. 

But by keeping my stops tight, I kept the emotion out of the trade and was able to position myself for that eventual bounce that the market was primed to provide. 

Here’s the UPRO trade:

Taking a stock personal is one of worst inhibitors to trading success. Out of it flows, bias, regret, revenge trading, refusing to take a stop, a must win-mentality, etc. These are huge problems for a trader to encounter (most of the time he/she doesn’t even realize it), and at the root of it all is the flaw of taking trading personal.  

However, when you don’t hold a bias against a stock, and you look at it simply from a technical perspective that seeks out tight risk with maximum profit opportunity, trading success over the long-term becomes so much more possible and attainable. 

So don’t harbor resentment, don’t hold a grudge, and most importantly, don’t take stock-trading personal. 

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