Feels like a bad day. I struggle to cut loses on trades and got bit again. My gain % vs loss % is ugly. I need to form a better mental loss on my trades and even more important execute them. Have been hesitant since last time I got stopped out, I exited at the bottom and had I help 1 more cent trade would have been a winner. I HAVE TO WORK ON THIS TO BE SUCCESSFUL IN FUTURE. I can not continue to let losers wipe out multiple winners.
The loss I took today HPJ. stock struggles yesterday and was thinking how ugly the chart was, but decided to hold and it came back at end of day. Different story today, I kept putting off cutting my losses and let my losses run up. phycologically felt ok to let it ride, but when putting thoughts down it is easy to see that it makes the loss worse. So instead of helping the situation, it adds to the problem.
After this I acted a little bit better on UQM. Sold it for a loss, but much smaller loss than HPJ. Without the lesson from HPJ today I would probably still be holding.
REE was down at start of day but not much % wise and had low volume, thought I would have to cut again but held. Ended up green for the day and just off of my 7% target I now have on this play.
YOD-play I did because of Tim, and liked the action I saw. Started the day down and never got going. Had chance to sell for very small profit but didn't get out. Price took a hit when Tim sold, as I knew it would. Still holding, don't see it going much lower and an article can spike this stock as seen before.
I did perform a day trade on PPHM. Bought late in morning just after initial spike. Took half my shares off the table when it hit its 52 week highs in case of double top. Held most of the day and started a trailing stop on the 2nd half of my shares. Pull back right after power hour started stopped me out around 3.73. Good solid profit on this. Would love to find a stock with this performance everyday. Looks like break out still going after hours and is about to hit 4.
Little before power hour I bought some shares of SEED. Got in at 3.03 and has been good action so far. Bought with intent to hold overnight and am doing so. May look to sell premarket, as competitor GRO is reporting earnings before market opens. If stock just holds I will have nice 10% gain and will be happy with it.
Have some more funds settling in account tomorrow. Trying to make it to the all important 25K level so I can get around PDT rules. Just took some more out of my optionhouse account and will transfer that over to the IB account. Been trying to scrap together what I can to make it over the hump. Need to focus more on one trade at a time.
Forgot to note I sold IKNX for a profit. Didn't realize how few shares were traded daily of this stock. Had good news when I entered and more news as I exited. Probably a solid stock/company but the volatility scares me. I have been looking to close positions to limit my risk to the market, so happy to be out. Bonus was the profit on this trade.
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