Follow by Email

Tuesday, September 6, 2011

Potentially an amazing day, I only hit +3% of daily target

Days like today is where patience really prevails. I notice i'm still trading scared (not good), using smaller lots (which is ok), and micro managing positions pulling off small gains in order to "feel" like a proficient trader or projecting a early loss and taking trade off prematurely.  And i forgot the most important lesson: BUY HUGE GAP DOWNS IF THEY DON'T MAKE A NEW LOW FROM THE OPEN!

AMZN - Great long off open as looked strong.  Took off +1.  I NEED TO LET MY WINNERS RUN.  WHEN A STOCK SHOWS INCREDIBLE RELATIVE STRENGTH THEY TEND TO RUN HARD EVERY ONCE IN AWHILE. 

POT - Great long entry, but micro managing took me out for a loss of -.05 when the potential was +2!!

LVS - 1st short was too early.  LESSON: INDICATORS DIDN'T SAY SHORT QUITE YET.  Then a long off bounce for a gain.  overall trade was -.10

BIDU - Chased the short but was ok, took gain way too quick. LESSON: IF INDICATORS GET YOU IN, LET INDICATORS TAKE YOU OUT!

TNA - Picked the bottom for long and still took loss by not sitting and letting stock take me out i exited prematurely.

No comments:

Post a Comment