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Thursday, September 8, 2011

DAMMIT...I lost it

Hands in the air...frustrated as hell, so much that i took the day off yesterday and didn't even look at the markets...although inside it was killin me.  Now that is tuff discipline to not even take a peek at what the markets doing for 1 whole day.  Stepped back in today and was close to +75% of my daily goal.  Then put on 2 more trades and quickly got bumped back to flat and then down -72% of my daily loss max.  I have no edge anymore.  Even by really pulling back size and amount of trades, i'm still finding myself with a feeling of utter hopelessness.  Although it just being a feeling, i don't give up, but am flirting with the idea of just shadow trading a few traders that i follow closely until i can get the swing of things again.  Enough about emotions, here are the trades:

LVS - HT @gtotoy great long for +.35 on 1/2 position.  I missed the classic double top to short though.

DECK - 1st short loss, then short gain, net winner

POT - Looked for reversion trades again, 2 shorts which looked great and then got crazy pushes up and stopped me out, both manageable losses but still a groin kicker.

SINA - Long on the breakout, once again HT @gtotoy room, and loved that trade.  I made the cardinal sin of letting my last few losses effect my judgement.  As soon as the stock pulled in -.10 cents i bailed...and the kicker was my target of +2 was hit.  HONOR THY TRADING PLAN AND DON'T DEVIATE.

NFLX - Best for last, was 3 minutes early on this short, took max loss at -1 that killed my day.  LESSON: WAIT FOR INDICATORS

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