What can I say, I'm an idiot. For reasons which are beyond me (I'm an idiot) I switched on my machine in premarket, logged in and saw $BLUE and decided to short with 100 and "let it fade" thinking I've seen this behaviour before from pharama stocks (it wasn't, I just assumed); went back to doing some DIY (not watching the stock, doh) and started the day just the way I like it, with a $500 loss.
Managed to make most of it back on $BLUE, once I had a proper plan of buying on dips.
Other than that did not implement yesterday's lessons. Didn't stick to the best setups.
Perhaps my style is to play many tickers in one day, but not at the expense of missing on good setups, so that has to change. Less-than-perfect setups I should only trade tiny size and when I dont have anything else going on.
There's always tomorrow, and tomorrow IS THE DAY.
Enough is enough, I'm just trading too random past few days.
Tomorrow (and from now on) I will not log into my trading platform until 10 min before the open to avoid premarket trading.
Additionally to reduce noise and focus me on the best setups, and ones that I do best in I shall try not to get ideas/influenced by others by limiting access to social media ...
Lessons:
- Treat yourself like a baby - no logging into platform in time to do premarket trading
- No noise - will try a day with no twitter popups (use it only for looking up stuff), and no chats
- Treat yourself like a baby - no logging into platform in time to do premarket trading
- No noise - will try a day with no twitter popups (use it only for looking up stuff), and no chats
Longs:
$BLUE after the shocking short, I was buying on dips
$CTIX gapper had a bad avg, but knew they were playing games when they pulled it out the gate, so added, and it turned into a profitable trade
$ISNS bought little on $DGLY
$BLUE after the shocking short, I was buying on dips
$CTIX gapper had a bad avg, but knew they were playing games when they pulled it out the gate, so added, and it turned into a profitable trade
$ISNS bought little on $DGLY
Shorts:
$CANF little at 4.10, added 4.05 - best properly planned and executed trade of the day
$IDRA looked fadey - shorted 4.30, covered some 4.20, added 4.25 and set stop to b/e on rest of position; covered along the way, annoying one to trade, at least this time i was profitable; missed a big drop later to 4.06 but then it bounced back to 4.25+ this stock is too annoying; late day shorted with 4.30 risk
$AMBA
$HIMX with $8 risk - too strong, should avoid this setup
$TTI with 6.30 tight risk; then flipped for a long and cut it even and went back short; wasnt sure if it was consolidating for a nhod or just making a lower high, once a lower high established i covered and shorted; covered on flushes, and added on a pop with b/e on rest being risk; happy how i shorted on pops and covered washes on this one (for the most part)
$SAVE with $74 risk
$BBEP on lower high, 9.48 risk; messed this one up, covered and flipped to a long, wanted to buy more and fat fingered a sell
$TASR worked out ok
$TASR worked out ok
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