Why Not To Change Course Mid-Way Into Trading

Every now and then you have a day when you chicken out on pre-determined plays, just to see it work out perfectly as expected.

CECO was one such play that took a huge dump in the morning. I had listed it yesterday as a potential short play. I was dead right on it. However after dropping back to $22.00 it started rallying today. I was looking to day-trade it on its way up. Once CECO broke $24.00 i knew it would rally more, since a huge resistance was taken out. It actually hovered around $24.00 for a while providing good opportunity to go long and putting a stop loss around $23.90 if it failed. However due to its run-up from $22.00 to $24.00, i chickened out, just to see it continue its up-trend ending at $24.74.

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Read rest of my article here…The Day When Every Perfect Trade Was Not Played