03.03.20 Way Too Much Trading!

While I came away from the day unscathed and profitable, I'm not happy with how I got there. It goes to show that more trading doesn't equate to more money all the time. Today I would have been better off stopping after my first trade, so that's something to think about. The more I think about today the more irritated I get with myself. I'm not trading large size right now so if I go nuts like I did today, there's only so much hard I'll do to my account. With larger size, too, there's no way I'll feel comfortable taking the scalps I took today. I need to tighten it up and not be so loose. I get mad at myself for hesitating but maybe my hesitation is a good thing. Glad I skated through the day unharmed but disappointed how I went about it.

$RAD
My first trade was in $RAD and went well. It was a good setup on the daily chart, I liked what I saw intraday, and took my shot. If I could change anything about it, I should have entered sooner. The outcome would have been very similar so it's not the end of the world but I took too long to make up my mind. I ended up taking my final piece out when we couldn't get over that $17.35 area from a couple weeks back and turned around.



$MITO
My second trade put me on tilt. I entered $MITO long with a really nice setup; pull back into the previous high of day, a high volume break through that high, and the tradeline sitting there. When the trade failed it blew past my stop and I took a bigger hit than intended. That got me going and I started looking for a way to win back what I just lost (definitely should not be doing that). The thing I should have done was take a walk and get back to looking for another good setup, not looking for "ways to win."



$TVIX
I took two trades on $TVIX, the first being a scalp and if I'm being honest with myself, I got really lucky in this trade. The scalp worked but I was in way, way bigger size than I intended.. This is the exact reason taking trades when you're mad isn't a good idea. I screwed up and could have given back a week's worth of profit or more..

My second trade on $TVIX was at the end of the day. I liked where I entered but the $SPY was getting screwy on me. I got really uncomfortable in the trade because of what the $SPY was doing so I closed it out and took the loss. 



$UBER
$UBER had a nice setup but was a sympathy play from positive Coronavirus news $LYFT released. Even though the setup was decent I think I FOMO'd my way into this trade. I came in over VWAP looking for it to return to the high of day but I did so after a nasty down candle. Hindsight is 20/20 but I need to pay closer attention and when I've already gone on tilt once during the day, it's probably time to just shut it down and walk away. Come back in the next day fresh.




$INO
This trade bums me out.. It was an awesome setup but so close to the end of the day it was getting a little whacky on me. Last I looked $INO was trading at $9.00, which was the move I was looking for but I don't trade before or after the bell. That meant I had to work my way out of the position before close. I also can't stand trading the last 10 minutes of the day so the deck was stacked against me on this one but I made it out and it should be in play again tomorrow (more than likely to the short side). 



Tomorrow I need to really dial in my self control. Act when action is required and don't act when it's not.


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