The past few days, I’ve learned a tough yet valuable lesson. Before heading down to DC, I placed three trades, two with OSTK and one with RIG. Without being in front of the computer to not just monitor my positions, but also to write my pre and post market analyses, I wasn’t able to make adjustments or accurately assess the market. As a result, I didn’t anticipate the market moving against me nor was I able to make the adjustment when it did.
Rule: Close your trades when traveling. If you can’t write pre & post market analyses, you won’t be able to monitor and adjust your positions thereby increasing chances of loss.