UGAZ PTBI AOL

The biggest faith today I have in AOL fade since it has just too large gains from 3 days ago. It had nice strong momentum after the open, RSI divergence confirmation for expected weakness and if works out it may be a home run. Home run definition for me is when the gains are much larger the just 1:2 risk :reward. It is very hard to guess when that may happen but , I look at it this way: the thinner the glass floor is,  the better the odds for a home run. I have not established a rule written in stone when to hold for a home run, except the factor if something being well overextended and having enough  longs who will be taking profits and enough longs chasers who may protect their accounts from buying the tops.

                                                           AOL the short 50.55

                                                       AOL  eod day cover at break even

The emotional feelings when trading this contrarian strategy is just too high, specially when I need to re-enter a position that already has lost once twice or more. I know it is due for a drop, I see it, but it is so hard to push the short button after several unsuccessful attempts. The funny thing is : it is much easier to push the short button out of boredom, like I did on PTBI the first time today , betting on over /under PDH ( prev day high )  9.80 without any shift in momentum and without any clear  RSI divergence. But I did and lost which made my second attempt to short way much more difficult daubing if it really will drop, if I will lose once again today.

                                                  PTBI the first  short o/u PDH  9.80

                                           PTBI stopped 10.03 from 9.73 short   30 c loss

                                       PTBI the second try short  9.92 ( I was doubting a lot)

                                        PTBI lack of discipline to cover at target when reached
 ( was busy writing this, ....yeah right just an excuse  LOL)

                                           

PTBI went much lower but it was a roller coaster

Similar boredom trade with UGAZ, On daily, it  has a first day total 180 degree reversal ( when daily red candle is negated with trading above PDH on the next day ) , I mean cmoon', if I make money on it today is pure luck.  In addition the daily range is just a regular ATR not much of big over-extension, and very difficult to have a nice easy move of few cents to make money after spread of 1 c and commissions..But at least is very liquid

                                                            UGAZ   short 2.72  

                                   UGAZ it did it LOD break  wash to cover half of it 

Since Im already in this trade , I wander of PDH  will hold , ..if it doesn't may have nice drop to continue its daily downtrend