Hey Guys,
The market came down some from its lofty heights yesterday, but it's still higher than the range it had been in the last few weeks. The S&P 500 is around 3,920 right now.
I bought shares of NVO in the main account this morning. I haven't made any other trades yet today.
A couple of my positions dropped noticeably in price in the last 24 hours. TAK had been going strong, and then gapped way down overnight. I'm now barely above breakeven on that one. And CPB (which I own in both the main account and the double down account) nearly reached a profit target yesterday but has since reversed course in a pretty major way.
That's a part of trading that we all have to face. Sometimes a position will get near your planned profit point, and then it will reverse course.
You could get upset about it, but speaking from personal experience, that may be counterproductive to your success as a trader. The reason is that extreme emotions can sometimes override our ability to think rationally, which doesn't bode well for trading success.
What I like to do is just stick to the plan since I have a trading strategy with a back-tested edge. And when positions like TAK and CPB reverse course and go down in value, instead of letting myself get upset, I try to give myself a little internal congratulations for sticking to the plan. That's more important to me that the outcome of any individual trade. I've got a longer term point of view.
If you have any questions or feedback, I'd love to hear from you.