just working the trades. should have held, what else is new. have to wait for the momo

seemed like a long, hard day today. my eyes are burning. tried to find the momo, but each time it came it seemed to leave fairly quickly. left alot on the table with RIG and then tried to make up for with FCX which did end up working. i have to learn to hold longer and buy a few more shares.

tyring my hand at waiting for the momo. i wanted to buy APPL around .61 but there was no momo, but then it ran. i picked it up as it pulled back from highs. POT i was trying to buy as a bounce off of yesterday's highs. then, it didn't seem to be working so i shorted it, just playing the chop. my real momo play of the day was IBM. big volume, breaking lows, i actually got into it for 600 shares, holy cow! it was more of an accident though. i was saying to myself lets get into this stock big time and i hit my tier 5 key, then when i wanted to add to the short a few minutes later i didn't change my tier size, and wound shorting 500 for a total of 600. it preceded to run up to 120 level, which scared me, but i held. i got out of the first 300 very quickly because it was too large size for me to take on. then i tried to slowly take off the rest. the final 100 i told myself to hang onto, and i tried, my mental stop was at .88 but when it rallied up and down a few times, i just got out at the low of the day. the stock went on to crumble as i am looking now. live and learn.

i think i am the one preventing myself from making money. need to keep focused, take slightly larger share size and not be in fear of this larger share size, that is the problem. i am scared to lose $40, i don't know why.

another thing, i will be heading off again to get the "paycheck" for a few months, starting in early october. it doesn't help with me coming and going. before i left, i was extremely focused. now that i am back, i know i am leaving again and it's hard for me to concentrate. but, it's nice to earn some money now and again, since trading isn't doing that for me at the moment. one day i hope to look back at all this and say wow, look how far i've come. time will tell.

okay day. tried to hold my positions in X and WLT but had a hard time due to the chop. i just closed both positions because i wasn't willing to let .50 cents go on WLT and both were really doing nothing. in the end, X would have made money, but WLT would have lost it for me. then in the afternoon played an ipo AONE. worked out okay, wish i didn't get scared out of the first 100 from .07. take my profitable day.

started off good then got bad. i respected stops but they were too wide. also, when a stock doesn't trade that well, such as PWRD, i need to just hit the bid instead of using these super smart orders. i wound up getting out .10 below because the super smart didn't work. bought pwrd as it was breaking highs, then got out. noticed that it bounced off the 20 sma on the 5 min everytime it broke highs, so i took the trade again. this time it didn't bounce of the 20, so what do you know.

don't even want to post this one, but i must remember the bad days. got out of btu at the same time i was down the exact amount in pot. basically, break even. then POT went on to cause a bad day for me. my stop was .69 but instead i bought more. (YIKES). did not respect my stop. i belive that maybe the first time i have oone that, and obviously it didn't work out. then i got back into POT, callint it my angry trade. i was up some at .99, thinking it would get over 95 but there was a big refresher at .99. should have got out there but didn't.

lesson: respect the stop. don't angry trade. also, i need to be in a few different trades. BTU worked well. was also watching JPM, FCX, and WYNN. all would have worked well but instead i concentrated all my energy on POT. i have to have at least 2 positions on, maybe 3 at a time.

back in the cockpit

got back today, but my head wasn't that focused. it's hard to get back in the rhythm after being away for a few weeks. took a few trades with aig but i am done for the day now. didn't want to push my luck.