Sandisk: A Lesson On Holding Good Trades Longer

Early in the program at our trading firm, the head trader said that after a month or two, our biggest problem would be holding good trades longer. I don't know about it being our biggest problem, but SNDK was a great example of leaving profits on the table today. I traded in and out of it a few times and failed to pull the trigger a few times as well. Despite making money in this stock today, I would have made much more just holding any of my long entries (both the ones I took and failed to take) until the close. Given the recent choppiness of the markets, it was nice to see some follow through in various tech names, such as: sndk, ctsh, wdc, and stx. Easy money is always welcome and getting frustrated about booking profits too soon is just a sign of easy money..and for that I am grateful. Remember, it's always easy to look back on a chart and say, "I should have done so and so..", but having a plan, sticking to it and making money is great. At this point, I will closely monitor whether I'm consistently taking profits too early and if that's the case, I'll adjust my plan accordingly.

Hope everyone's having a great week.

TLT