I was really wanting this to go higher but 13.50 area was ok to take the chance short 13.41 covered 13.24 for 17 c gain. It worked just fine. As always leaving money at the table is ok.
Then I got lucky on long with daily support risk level 13.12 . Again : A DAILY support. I say lucky because I'm just not having good track longing stocks. From 13.28 went only to 13.38 before closing bell.
Click Here: I tweeted the risk reward plan off of the daily support
KEG
KEG click here for the short entry explained with risk reward
On this one I felt like I was Tim Sykes, like somebody followed my tweet and slammed with size shorting it. After this I didn't feel like tweeting any more. I thought it will go much lower, so I never locked in gains. Broke even ( -$0.01 loss) Was I able to short it again? At 2.35ish? Sure but I'm just not focused enough. Need to do something about it. Maybe trade in a room with few more trades, like in an office or something ..Something to think about in future.
PBR
This is Brazilian huge cap company, and it just did not worked out the shorting here .But since it is well overextended will keep it on watch. Big boys hedge fund managers will take profits soon and they may re-buy on dips.
Over all nice little green day, most importantly did not brake any rules, and was disciplined
Salute Stay green and disciplined
Note reference to one of my buddies trade BIND :
He shorted it by chasing into the drop right of the open into major daily support 7.60. Yes it could have broken that support , but it DIDN'T.
He had 7 green days in a row, with NOT SINGLE LOSING TRADE !!! A great trader with tons of experience.
Then he got mentally frozen, He watched it go totally opposite and covered way too late in hope it will drop down, It is extremely hard when your mind "convinces you" a stock must go your way, spatially when you had winner after winner for 7 days in a row!! Always Always be sure that YOU WILL BE WRONG and when you are proven wrong make sure what you will do before you enter the trade. It is the hardest part in trading, takes years to overcame it, but must have that mental strength and the only way to have it is to have a plan that you will execute exactly as outlined before entering the trade.
There are trades entries where I expect an immediate momentum move in my direction due to certain factors, like big size on the bid or major level break out, I enter the trade very quickly so I will not miss the move. Next thing I see : it is ticking few cents against me. So I rushed to get in , in fear not to miss the move , and now I see ticking against me, so what I rushed for is NOT HAPPENING , I GET OUT ASAP. It is that simple. And what happened? ONE THING FOR SURE : I DIDN NOT LOSE !! Minor loss few pennies is just as scratch.
In trading we are own worst enemies!
Stay disciplined have plan and obey it!
Salute!
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