MHK is a great stock that I missed today. To be exact, I didn’t missed the stock, but I missed the right entry point. I actually entered the stock twice. The first time was at a fake breakout point, and the second time was at a less favorable point that I was not comfortable to stay for long. Take a look at the pattern first:

The first time I entered the trade, was right after the stock dip under $58 at $57.84. The stock first showed strong momentum to go down, …

I’m of the belief that the single biggest barrier to success for most traders, is themselves. Psychology is one of the aspects of this job that is discussed the least, and yet when you ask most professional traders, they will agree it is the most important to understand. Master yourself and the rest is easy.
As traders, we know that we must run our winning trades, and cut our losing ones. This is of course, more easily said than done. How many times have you …