Trying to make the transition from trading as a hobby to trading for income.
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Monday, August 15, 2011
Daily target hit by +175%. Still trading scared and taking profits too quick
IDCC Great short but was too scared, took small position and took profits quick.
BIDU Short and stopped for small loss, and never reentered. LESSON: IF STOPPED OUT AND ENTRY RESETS ITSELF, FOLLOW UP. A realized -.35 loss could have been +7 gain.
GTAT Great short entry but didn't let target get hit, pulled off prematurely
AMZN Great short on break of support. LESSON: STILL TAKING GAINS PREMATURELY. NEED TO FOCUS ON SCALING OUT AND NOT TAKING OFF FINAL POSITION UNTIL THE 8 MA IS VIOLATED!!
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