The day's open led to a near 10% decline in the stock price, and for a company with an exceptional balance sheet, this just doesn't make any sense... especially when there is no negative news to back up such a drop. So, when the stock price read $7.95 I had prepared an order in TD's system. Unfortunately, I just never pressed the submit button.
All indications pointed to the perfect buy, the RSI indicating an oversold, while my squeeze indicator showed a subsiding supply, which would've led to a net increase in demand the following minutes. Though my general script didn't show a buy/sell indicator, the previous three were enough... They should've been enough.
I was doubting my vibe. I wasn't confident enough to put a $20,000 trade through and my brain was contemplating all sorts of excuses to back out. And so I eventually did by canceling my order.
Only a few minutes later, the stock rocketed to $8.20 and then $8.30, all the way to $8.77. Even though my stop loss of $0.10 would've forced me out when the ticker fell from $8.57 to $8.47, I would've been fine with the return of near 7% on that trade. This didn't happen just once, but the same doubts invaded my mind twice more throughout the day, and as I sit here to reflect on how such negativity cost me three opportunities, I wonder if tomorrow will be worse. If tomorrow will be a compounded effect of today's subpar belief in my ability to trade.
Let's hope that isn't the case.
