5/6/14

Another down day for the market and another bad day for my trading.  Got bit trying to hold the pump overnight and was reluctant to sell.  Seems to be my downfall over and over again.  I let my losses run and been quick on taking profits.  So easy to say this should be opposite but so hard to actually do.  Did not use a day trade which is good, am ready to use it tomorrow and will look to investors underground for ideas.  Markets still whipsawing.  Seems everything is down, yet the markets are up.  Prolly feels this way because of the small cap market I am looking at.  This is also the slow season, so I've been told anyway, and need to be conservative on trades.  Will not make mistake of buying pump and letting it get out of hand again.  Hard stops needs to be put in place or I will ignore them.  Plan is to set them a few cents below initial mental stop.  So it will trigger if I do not take the loss, and gives me the chance to start following the mental losses.  Need to implement what I learned from Nate's DVD about risk levels and where to put stops.  This will greatly help me not loosing my shirt anymore in trades.  May be most valuable lesson I learn from his DVD.  His DVD also helped with knowing how much money to put in play.

JASO-small pop in morning and I sold most of my position.  Limiting my risk right now.  They have a conference call early in the morning about quarterly earnings.  They may be alright but I do not think guildance will involve anything with Tesla.  The whole reason I bought initially.  Has been slowly grinding up day by day but nothing exciting here.

sold PME-got a nice spike today and looked strong.  All memories of big seller are gone and it upticked nicely.  I sold way too early, but wanted out to limit my risk from market movements.  Could have doubled my gains, but out with a gain.  On to the next.

PGFY-stock in freefall at open and I kept waiting and waiting.  Finally saw enough warnings on twitter to convince me to sell and end the pain.  Bad bad bad loss for me.  I could have really been screwed if I used a big position.  I knew where the support was supposed to be (thanks Nate), but refused to sell once it cracked.  I think I got a false sense of security when Tim and Nate both covered their short position.  But stock kept falling.  A hard stop would have saved my ass.  I would have been mad when it went off(cause I would have lost) but then realized how much it saved me.  Really need to end these dumb mistakes.  It is ok to be wrong.  it is ok to be wrong.  It is ok to be wrong.

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