Ask Colin

Could you please look at the chart for Hardman-HDR an explain what if anything I did wrong. I bought at 10:25 for 73c and sold half an hour latter for 67. At the close last night it was over 80c. My questions are these (1) Did I buy at the wrong time? (2) Did I sell too early (these questions are asked because in hindsight, that morning was a feeding frenzy). (3) Was what happened something that a trader could not prepare for: The market was very strong. If I can understand what happened and why, learning the skills to be able to control my financial future is one step closer, to becoming a reality.

I do not day trade and do not have intraday information to even try to assess your Hardman trade. To assess it anyway, I would need to know your trading plan. I think you could assess your own actions - indeed you should review every trade. Look at the chart now and ask what your trading plan called for you to do. Compare this to what you actually did. If you followed your plan, you traded correctly. If you did not follow your plan, then you need to ask why and try to develop the necessary discipline. If you are following your plan and not making money, you should stop trading until you develop and test a plan that works. If you do not have a plan, then you cannot assess your plan. If you do not know what you were trying to do, you cannot know whether you did it correctly.

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