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funny me replaced the X chart i always have up with TNA today. oops
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ridiculous chart all day long. down down down
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short the big volume spike
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i tried to buy the pullback. didn't work
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first move was buying after that hammer. i missed the better price entry because i was watching BIDU. i tried to buy at the new 5 minute candle with a stop below the last candle. stopped out. then i shorted after the doji. put on some more shares, stopped out of them, and then i put them back on. obviously, left alot on the table. these exits are going to be my downfall. i need a rule.
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shorting the retracement, stopped out but pretty close. i should have kept on eye on it, but somedays i have seen APOL go down, and then ride up all day. also, i believe the education stocks trade opposite the market. i am going to have to do a correlation calculation with them and let you know.
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this along with FXP is going to be my go to stocks when i want to short TNA. i can't short tna with lightspeed.
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don't ask. sometimes my candles a minute late, but it still doesn't make sense what i did here. i checked my orders, it says i bought at :38. that would make sense. i was trying to ride the pop until the end of the 5 minute candle. the short afterwords, was to big of a risk +.45 but it would have been worth it. i think here, it actually popped a $1, so it had bigger move to the downside. usually, they pop .30-.50
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i was shorting lows, i didn't take my profit after the push down, i think it was about $60 in the green,something i would normally do. but, $60 isn't anything. i need to be taking at least .50 a share, $100-$150 a trade, if i want to be profitable. the candle wound up a textbook hammer but the stop was too far away for me to trade. nice retrace to the EMA. then later in the day, i passed
on the short entry. then took it later on. got stopped out, shorted, stopped out, and then shorted again.
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this short i am okay with. it was further from the EMA than i would like but that is okay. i shorted as it broke the low of the previous candle, but the candle turned around to form a mini hammer. there was a nice short entry around 12:15 that i would have gotten stopped out on, and then another entry around 12:40 that would have finally worked.
overall, it was a tougher read for me today, but as you can see it could have been very profitable if i did a better job of separating the noise. not much else to say. today was a brain drainer. eye balls hurting, head hurting. what are you going to do. better than managing a bunch of monkeys.
i remind myself how fortunate i am to be able to daytrade from home. i really have only been trading since january without working, but man the cash disappears quickly. it is time to free my mind and start making money.
till tomorrow
Looks like you had some profit on ESI before the stop? Those are so tough emotionally.
ReplyDeleteWe were on the same side on DNDN. I almost shorted after I got stopped, but the chase and loose stop kept me from out - despite not looking at the PnL - need to remember to consider that when I set stops.
You had some nice setups. Hang in there - I can see it coming!