7/19/11
Gross: -257
Shares: 24,200
Net: -390
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OWNED.
SMACKED.
Max gross = +108 @ 11:17
Every trade afterwards was a loser.
Every trade I took today went in my favor, and came in. Nothing ran.
Despite noticing the trend, I continued to not scalp, and I paid for it.
I had many opportunities to close positive, and even once I was down big, I had opportunities to get at least gross even. I tried to not let my P&L control me. And today, it raped me.
I would not say that I overtraded today, despite my number of shares. I stuck to my watch list, did not venture out. I may have jumped in and out of a few things too much. Anyway, I would have knocked yesterday out of the park. Today, got raped. This is the importance of trading full time.
I did not take profits today. I let everything run. I really don't know wtf to say about it. I couldn't get one knock out to connect. I really gotta start taking high probability outs, instead of letting shit run against me.
If I took outs, I would have had like a 450+ day lol jesus christ
Should have just bought IBM on the early setup. IBM always runs when it beats earnings
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1. STT - Missed the prime STT entry at around 41.25. Obvious short, didn't take it. Instead, shorted the 41 break like an amateur noob. Tried to jig me, I said BS, and what do you know? It actually worked. I covered a third at 40.77, let the rest run. I wanted to see how it would react down at 40.50. It nearly made it, but quickly came back to 41, I added, and it broke 41 and stopped me out. REVERSAL.
2. LNCR - Had to short LNCR 3 different times to finally get the move I was looking for. First 2 I was jigged out. Kept attacking it. Finally it went. My profits in LNCR made up for my losses in LNCR lol.
3. BRO - BRO chopped the shit out of me. What an annoying stock. I was in the money several times shorting this thing. Bids kept appearing. Thing jigged and jigged.
You know what, I'm not mentioning any more trades I'm too pissed off! Shitty action, I was in the money 15 cents to a quarter on 80% of my trades before they came in and screwed me. My goal was to take profits and grind my account up, and instead profit hopes take control and stray me from the goal. I was up $70 - $125 in many trades.
4. MOS - Market at highs! Buy MOS consolidation! 30 cent wick jig to the whole! rofl. Oh ok, MOS breaking to the upside now. Buy the 50s. Oh snap, it just ran 20 cents in my direction. Do I take profits or hold to 69! I think I'll hold, with volume coming in and market at highs this can run a bit. SMACK. 20 cent retracement, STOP out.
SMACK
SMACK
SMACK
SMACK
SMACK
^^^ today
Shitty ass moves all over. oh 15 cents, thanks a lot. Added size to try and make more than 5 bucks, didn't take outs. Time and time again.
I think today may have been my worse net day yet lol.
SMACK
SMACK
I became afraid to touch everything. Missed the AG short on the silver down move. I wanted to short AG at 24 but I was afraid because the market was punishing me over and over again!
Days like today are now allowable, because of commissions.
July:
Running Gross: +167.93
Running Net: -567.97
Yeehawwww
A lot of earnings stocks again tomorrow. It's bullshit. I know if I cut my trades short tomorrow, they will run. ONE trade can reverse all of today's losses.
OH YEAH
LEDS - LEDS landed a contract worth half its market cap. Bought in the 5.50s. It ran to 80 cents. Felt good right. Gotta hold, gotta think there is more upside! With no jig this could be an overnight hold right. NOPE. Of course it jigs. Tomorrow? $6? $7? $9? We'll see.
Something is going to connect. Need to scalp the stuff that isn't A+. Need to get that in my head. Don't let EVERYTHING run. It's reckless and arrogant.
Yeah, I'm pissed, but I'm not gonna go on too big of a rant yet. Nothing connected today. Tomorrow? A grip of earnings plays. If nothing connects tomorrow, THEN I'll be livid.
ksmetana
** You know, the problem with the game is the god damn fees. My account would have a 100% return in 7-8 months without commissions.
Negative days WILL happen. If you are not knocking your winning days out of the god damn park, you're SCREWED. Sure I could close 5 days straight positive at +130 a day. All it takes is one losing day to destroy that. I feel like grinding won't even work. I don't know. Whatever. Take it trade by trade, forget about P&L and all that crap. Trade the trade. Only money management you should worry about is not giving back too much of your profits after a certain time.
The seniors in the office all make over a grand today, lol, a few with just as many shares as me. AMATEUR.
That is some efficient stuff right there.
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Tomorrow:
Designate trade quality you moron. Let the A+ run if you can. Take off the majority of the B stuff on the first wave. Why don't I listen to myself. I said the same damn thing every day for the past week lol.
I'm content with my trades, sloppy at times, but I do not regret the ideas behind most of them. Today, I was so reckless in profit taking.
I'm quite taken by today. I recall landing some profits, and preparing myself to wait for a good trade and try to make something decent happen. Fell down a slippery slope. Will not let today effect tomorrow. I know what I am capable of, tomorrow is a new day, I can perform well, I am better than most. My time is coming.
SEE YOU TOMORROW STOCK MARKET THNX UR SWEET
