Entered another JPM trade yesterday right before the close at 23.30. The stock closed 23.09. Overall i'd consider it a good play, with the technicals right and the SPX looking like it's rally has run out of steam and reversing at the fib 32.8% line.
However, i'm noting that i'm still feeling the fear after Asia performed very well, with gains in Sydney of 3% and 5% at Tokyo, which were driven by financials. I'm afraid it will re-ignite the uptrend, and negate my trade.
The amount i'm risking for this trade is 2x the regular R amount. At the look of this, i will likely be cutting that risk amount.
As i sit longer, i realize what this feeling makes me do. After i make the trades, there's an obsession about 'babying' the trade by reading as much news as i can which supports my move. As much as possible, i try to make myself believe i made the right choice. This points to a lack of confidence in my system.. There's alot of hope gathered, which doesn't really harm my position, it creates mental and time waste.
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