lots of mistakes I don't know where to begin. The mentality coming into the day is flawed in the first place. Even knowing it trapped lots of shorts and got ultra low float but still couldn't shake short bias off my head. I didn't sleep well last night and all I was thinking was how do I nail this shit tomorrow, how do I get my large short near the top, etc. That thinking clouds my mind and the first thing I thought was shorting. I never thought of the possibility of longing it. Therefore I tried to put some shares on premarket but glad I did the good job stopping out. I incurred $7k loss before 9:30am which is not the worst case scenario but definitely not good way to start the day. So I hate to admit but it's true that $7k loss premarket and $20k loss yesterday put fuel on fire in my body and I was destined to hammer the shit out of it which leads to my second mistake of the day shorting into strength on the first candle. That is not a big mistake but the biggest mistake was it barely dipped under $6 and quickly reclaimed back in volume, instead of recognizing it as big danger sign I threw shares back in it which is essentially adding to loser, shorting randomly and making it to work. I did have stop out lvl in my mind but I didn't respect it. Initially I was risking HOD/premarket high-$8 but it kept ripping and putting bottom at $8.50ish. Here comes my next mistake: instead of recognizing FUCK it shouldn't be like this and all dips got absorbed massively and had very weak pullback, all of these are bad signs as short seller BUT I chose to ignore it. The thing in my mind was "how much further can it go? it already made big move, it can't go much further. Just wait for those bids(covers) done there covers it will collapse. Exactly same mistake on DRYS on the day it went from teens to $44. Then the next round of squeeze took off and even got volatility halt. As it approached $10 again I made a random assumption that $10 is going to peak but again WRONG!!!! I covered 5k into the dip fortunately and added it back on into the bounce risking HOD but again WRONG!!!! Through the entire move I randomly shorted and adding to loser without confirmation of price action. Then I got liquidation near the top which kindly pissed me off given it pulled nearly $2 from there. At this point I was holding 10k shares with $9 avg. and had no interest to cover at all. I was determined to hold and wait for the collapse to cover which further leads to the next mistake:
Each dip got held and it made higher lows and volume was sustainable. Combined all these together it did breakout and actually held near there onto the dip. At that point I was physically and mentally toasted and couldn't take it anymore so I covered all near HOD.
at the end the damage is there. First 6-figure loss on my account. All it takes is one ticker, one trade that wipes out my entire year's profit. Yes I am still up YTD but very very smaller. Just when I thought I finally got my feet off the ground it completely backfired and threw me down into the hell. At this point there is nothing I can do. I have to work on my discipline issues otherwise the next loss will come sooner or later. Namely cutting losses quickly, never adding into loser, watch size, respect trend!!!!
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