Terrible Trading week

My pitfall on GS

This week is the most terrible trading week for me. From making 30% of my partfolio till losing 20% of my partfolio. What i really did wrong is my psychology.

What really affect my psychology are the following factors...
- Greed and Fear
- I cant scalp too many time due to the small account
- Let my emotion take control of my trading system

My mistake mainly come from the fact that im greedy. I have 2 scalp which can make 50 buck respectively but i didnt not profit take as make a lost of 150 each. I let my scalp to run over next day which affect my whole trading system. I lost quite alot of money on time decay as im holding on to my sept contract put which at first making 1.3k last thur when it hit 158 and when friday open i make a lost of 200 buck then i can make back 100++ buck on the day itself and monday but i did not take it.

After this week, it really prove me that trading need the right frame of mind and the right psychology if not you will be beaten by the market. Always trust the indicator and the system that you have set for yourself. If you let your feeling take control of your trading you will difinately suffer from it.

This week i didnt trade on google as im too focus on GS. Google has been doing quite well recently and i guess it will pause for a while and rally up. If google break above 530 and the market is doing well i will just buy a long call. Recently the trend of google is it will react according to the nasdaq which it dun usually does it.

i will be watching GS too for the next week as it is going a sideway trend which might break up or break down depending on the subprime issue.

Anyway im still quite happy with my trading no doubt i make a loss of 20% of my partfolio. I will do better next week and not let my feeling take control of my trading.

Happy Trading =)