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Weekend Thoughts 2-5-11

 Those of you that frequent my blogs or the DayTradeWell channel you know that I try to take a couple of hours on the weekend to review the past week and get prepared for the week ahead. I was happy with my performance this week being positive 4 of 5 days but I made two mistakes mid week which stopped me from having a super week.

On Wednesday afternoon I felt a shift in my mood, perhaps I should have checked with StarMan to see if something happened in my astrology. I chose to ignore this strange feeling and quickly went from up $2,217 Wednesday morning to finishing the day only up $553 and then lost $5,151 on Thursday with just pure stupidity.

I need to trust my internal feelings better as I found myself talking myself into staying in the trade instead of simply honoring my feelings and being done.

Most importantly I take positive things away from this week, 4 of 5 days winning is great and overall I made some really high quality trades which made me quite a few dollars. I am very comfortable in my surroundings and am excited to get my team built out which will start on Tuesday with a new hire starting.

I just finished going through over 100 charts and have found a number of names and great levels to start some trades from. It should come as no surprise that the more effort I put into this business the more the results payoff. Being prepared is supremely important in trading and I find that days I screw up are days I am under prepared.

The mantra for this month is consistency, but I am going to add preparedness to the mix and see how the results work. I know the Super Bowl is tomorrow night, but for me my Super Bowl starts Monday and I can’t wait to get back in the game.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.