Don't Let The Big Ones Get Away!

Missing your entry on a trade, or missing the trade all together, can become very frustrating. Sometimes it is the missed trade that can lead to bad trading decisions, more than a losing trade. This trade (WLT Long) had all the makings of a very good opportunity. Tight channel,rising MACD on both the 5 minute and 60 minute charts,and good support with a rising 5 period simple moving average.Not to mention it had plenty of shares in the nyse book to exit on if the trade went bad. The point of this post is you can have the sun,the moon, and the stars all line up, but you have got to act on your trades, especially when your system says go, and there is minimal risk at hand. On the brighter side, the market is there everyday, and gives us opportunities to improve on our trading skills.