SHOULD YOU WATCH YOUR P&L WHEN YOU'RE DAY TRADING?
Today's episode of Stocks for Breakfast is a segment from a recent boot camp coaching call (every Monday night).
Do you trade your P&L? In other words do you trade more aggressively when your positive for the day? Do you trade cautiously and try to "chip away" at a negative P&L?
We decided to answer the question: "Does watching your P&L during the day mess with your head?"
I think my answer and thought process will surprise you. My explanation is high-level stuff that I taught on my trading floor in NYC.
This segment is roughly 20 minutes of trading lessons that you ought to know. Stuff you won't get in your favorite trading books.
Here's the original post by one of our members...
Henderson
Hi Pete, I've heard some of the trading 'gurus' out there talk about not watching your p&l whilst trading intraday? What are your thoughts on that?
Do you have your p&l up while trading? I watch mine quite a bit and I think I'm doing reasonably ok but at the same time can't help but wonder if I am placing myself at a psychological disadvantage.