Today my account had day-trading ability.. so I day traded some GOOG calls (successfully that is) ...
my 1st day trade was successful but not the 2nd one...
I easily bought GOOG calls for $26 and sold it for $29 within a short period of time...
but I tried to do the same for BIDU calls but could not get my 'asking' price ... so I ended up holding the calls ...
that was the problem... the 1st trade being successful.. easy... I felt I could just duplicate that trade anywhere without any problem?...
initially the 2nd trade did start to work for a brief time, i.e., the stock did move higher and I could have taken a profit ... but since It did not hit my target price... I could nt sell and get out like the 1st trade...
I felt very frustrated because of that...
I could have been better off by taking the profits I made form the 1st trade and stop trading for the day...
the problem I face is that once I see an increase in the account one day ...
I tell myself "that is your profit... already celebrate it".
The next moment, however, come and it all changed I get disappointed ... disrupts your emotions...
I try hard to bring the account back to where it was yesterday.. it is due to this strong need to see the account as it was before...I push myself too much hard and take extra risks and as a result over-trade... and loose.
