At one point I was down nearly $1500.
Looking back I don't know why I was starting to size in when it was up only 5% and adding all the way up to the moon. This is not emotional play!!!!!What's the point shorting early & big??!!!! This is one of those occasions that you just do the stupid thing for no good reason whatsoever. It happened and will happen again in the future, just recognize it and get out!
Because of early entry, I got caught up in rip-pull, rip-pull type of scenario and failed to cover/downsized!!! The main reason was lvl2 action tricked me b/c every push was weak and seemed like stuffing cus I noticed big offers got hit and ran over. Maybe those were smart shorts knowing what would happen an hour later.
Secondly I failed to cover into the big red candle panic b/c I had VCEL on back of my mind so I thought it could go much further. Again I let my greed got me in daytrading!!! Whenever see big up on p&l always always take it!!!!!! Never should ask for more!!!!! I am very fortunate that I got out this okay but things could get very nasty! Won't do it again!!! discipline!
Took another short in afternoon squeeze action knowing lots of ppl shorting it from chatroom and twitter and now they must be busy covering and this is when I short, taking advantage of panic but again, I shorted and it failed to go down and I refused to cover. $16 was a line of sand and I knew that It should snap and stay below it otherwise I should get out. I underestimate the power of squeeze and it kept going and I covered partial near the top and reshorted it and had good cover in the end. Made money but man!!! this is tough and unhealthy way to make money. I once again threw discipline away!!. I even told myself to cover if the pullback was weak but I just let it grind against me without taking it off. Afternoon squeeze is more powerful than morning b/c it trapped shorts the whole day. Just think about GNCA!!! it could do ridiculous shit!!!!!!!!!!! Avoid short tooooooo early at all cost or even if I short early, just get the fuck out if it fails to go down!!!!
Bad trade, shouldn't have traded it the first place due to very low volume-300k shares.
Should have given it more time since the momentum has shifted but his is large cap and oil play so it could get nutty.
Tough day to start the week. I went from $1500 red unrealized to green then back to red then finally settled at green. whewwwwww... frustrated b/c the tickers I traded failed to do what I wanted. Midday trading is difficult b/c it could go much further than you ever thought. I spent the past two days refining my trading techniques and strengthening my mentality but today's action got me hit a brick of wall. Market is a bigger beast than you ever think. Remember doesn't matter how smart you are and how much work you do, sometimes or I should say perhaps many times you are still wrong. Yes you will be right at the end but trading is real time. When you are wrong at entry price and timing you are wrong!!!!!! period!! admit it!!!! get out and reassess!!!! Today I was wrong twice but didn't get out and kept adding to losing position. I could blow up my account by doing this. Intraday trading is not about big picture !!! it's about hit and run!!! you go into a trade with thesis including target and stop out level and take profit when it hit your target and get out if stop loss price triggered. Do this over and over and over. You will survive and profitable in the long run!!! Today is a real waking call for me in trading!!!!!!
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