-the first short was due to FOMO, threw patience and discipline completely out of the window and "ideal entry" and time frame out of my mind. I knew that I should have gave it time to develop the setup before size in but didn't do so. The main reason I sized in toooooo early was because it's closer to the midday and liquidity is severely lacking in these couple weeks so I was afraid that if i didn't get it I would miss the trade. Instead of cutting my position I reshorted it at $3.84 when I knew that there should be resistance at $3.90's level. It immediately filled my order and shot up to the 90's. and I saw orders frenetically hitting $3.94 so ended up emotionally covered at $3.94 taking $250 loss.
-Mistake No.2, when I saw it peaked out at $3.94 I immediately slam the bid at $3.85 again due to FOMO but contrarily it squeezed passed $3.94 and trying to break above $4.00 mark. At that point I was almost mentally done. I knew the mistakes I made and the situation I put myself in. Due to emotional instability and lack of patience I put myself in a nasty spot especially when it was consolidating and holding above VWAP I was constantly asking myself, "should I take the loss and cover." I asked it 20 times in my head but couldn't pull the trigger because I didn't want to turn a profitable day into a losing day. I guess the GOD is on my side at that point I saw the volume was fading, $3.94 $3.97 clearly stuffed in lots of orders and I saw MR tweeted the meaning and fundamentals of it which added conviction to my position. So LUCKILY it worked out. Sighing...but it's a very emotional, lack-of-discipline trade !!!! It should never ever happen again regardless whether win or lose at the end!!!!!
It's sooo easy to let emotions get in the way!!!!!! Stand up and guard against it!!!!!!!!!!
-due to FOMO I entered the position at $3.65 because I didn't want to miss the breakout.
Took loss at the end because didn't get out fast enough. Should have got out immediately when saw
emotional uptick stuffing action!!
do I regret not longed LEU after midday today? No because I was trading based on what I see and odds. Glad to see MR shorted it and I was thinking the same thing but didn't do it because it was the frontside and lots and lots of fake selloff signals so I told myself the ONLY time to get short is true parabolic action. I believe lots of people got smoked today playing $4.00 resistance. Again I was still too stubborn, when a stock holds the trend and kept making new high and at the same time there were lots of sellers pushing it down you should know that whoever shorted it were underwater. The main reason I didn't get long was because buying this thing is really like casino trade. Had I remained disciplined I would sell as soon as I saw the selloff activities. It's also difficult to buy it because frankly I don't know the appropriate time to buy it. If buy it too early you will end up selling into weakness and if buy it into the washout it may just kept washing... so very tough to trade it long and short today. But maybe the best time to buy it is into the late day washout and holds above multi-day resistance round No. $4.
Good trade, exercised patience for the entry and nailed it.
Today is very similar to what happened yesterday, nailed the morning trade but screwed up the mid-day one!!!!! PLEASE!!!!
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