I wanted to write a quick post on idea persistence and game planning. I game plan daily for the sole purpose of being prepared for the trading day by having the best ideas for the open. I do this to eliminate all discretion from my trading, I plan my trades and trade my plan. I have ideas for every possible scenario and if I don't get the any of the scenarios I game planned for I have a plan for that as well.
If you've noticed my posts for the past 3 days, they all have one thing in common, they all have WDC as a long. I have been stalking this stock for the three days for a long trade. I didn't get it on the first day when it blew on my face and neither did I get it on the second day when it basically did nothing. That didn't alter my conviction in my setup and I still picked it for the third day and it played out beautifully. I didn't throw it out the window cause I lost on two days trading it cause it has some personal against me. I stuck to my belief and got paid for it.
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