Well THAT didn't work

[Triplethought]

I want to share my stupidity here. Last night I saw a Yahoo article that said Apple "crushed" earnings report. So I thought "I bet it shoots up pretty good in the morning. What if I put in a limit order to buy my usual 1/3 lot in apple in the morning at like .75 over the closing price? Maybe I catch a knife being thrown on the way up and then I flip it for a small profit."

So I put a buy order with a limit of $135. And sure enough I got it! Except thru the course of the day it slipped back to $133.58.

I ignored the old wallstreet adage "Buy the rumor and sell the news". I bought the news and THAT didn't work. What's worse is I've seen the pattern before of a stock spiking for like 10 minutes and then sinking back down.

Sometimes we learn more by doing something stupid. I thought I'd share my dumb. Anyway there are worse stocks to own than apple and I'm sure if I hold it it will eventually climb past $135. But a day trader I clearly am NOT.

[SOL]

The first step to improvement, and becoming a smarter person and better trader are by acknowledging one's mistakes. You have taken that part so the ride up will improve. I ask myself a simple question. If i ever fall into a situation that might lead to a day trade. I ask myself this question. How are your stress levels now? Do you want to increase your stress levels for a few bucks? The wise answer would be no. So no matter how strongly i feel about a stock, if the answer is no, then I never get into this ultra short term trades. Day trading in general is a good recipe for an early grave.

[AstuteShift]

The first step to improvement, and becoming a smarter person and better trader are by acknowledging one's mistakes. You have taken that part so the ride up will improve. I ask myself a simple question. If i ever fall into a situation that might lead to a day trade. I ask myself this question. How are your stress levels now? Do you want to increase your stress levels for a few bucks? The wise answer would be no. So no matter how strongly i feel about a stock, if the answer is no, then I never get into this ultra short term trades. Day trading in general is a good recipe for an early grave.

Indeed, day trading can be done but the stress level will just make you lose hair and other functions eventually.

The allure of fast money is an illusion compared to the precision and strategic focus of a trend player

[bpcw]

Thanks for your honesty Triplethought, we've all made mistakes, we can learn from each other's as well as our successes!