Losses Are Part of the Game Too

Coming off of a slow Thursday, we had some unusual price action and volume in IDXG, a stock that has taken off before. Unfortunately, the momentum died shortly after open, which left me with some losses but it's important to get out of a stock if its not moving like you expect it to. Always plan your trade and trade your plan. I stuck to my stop loss and minimized my losses. It could have been much worse.

Shortly afterwards, we played ETRM, moving up with increasing momentum after consolidating in a narrow range for the past two sessions. For this one, we were able to let it run a bit. When all was said and done, not only was the loss from IDXG was completely erased, we closed the day with a healthy profit.

The lesson here is that losses are part of the game. It's how we respond to them that separates profitable traders from the rest.

Strong momentum coming off of a period of consolidation.

Member Login
Welcome, (First Name)!

Forgot? Show
Log In
Enter Member Area
My Profile Not a member? Sign up. Log Out