-Traded it using IB, short & long.
-Took $600ish loss because again I didn't stick with my plan.
-shorting 1400 shares with avg. $5.65 risking $5.80 that was my initial plan but the price action was so strange!!! It seemed very hard to climb up so to me there is some strong selling pressure out there but I watched it go go go and kept rationalizing and even adding to my initial position. At the end I bailed myself out by triggering stop loss at $6.01.
-Mistake No.2 I made was flipping to long it after got out. It was lacking of momentum and couldn't move so again I ate another $200 loss by being long.
-The main LESSON today was again lack of discipline and unfortunately it was the same mistake I made hundreds of times. When stop loss level was reached, just take the shit off!! NO MORE QUESTION IS ASKED!!! This is how the loss gets out of control! simple as that!
No comments:
Post a Comment