Decent play followed by a bozo play left me negative on the day.
Played SBET and EBET today. Sold both too early but made up for the stupid play from yesterday. Early morning breakouts have been good for me. I'm basically playing premarket low float top gainers. I like when they have retracted a bit and are heading back towards their premarket high so I can play for the breakout.
Made a good trade for a nice gain. Then got sucked into a failed breakout on HLIS and didn't cut my loss. Instead, I averaged down and was given multiple opportunities to take small profits. But I didnt. Instead. I wanted to make money because I have a cash account and it would take 2 days to settle and use again. I always get into trouble because I only have 1 day trade left or no more cash settled. Can't wait until I'm over PDT so I can trade freely, in and out.
Idiot trade today on CMMB. Have to constantly remind myself, "Fuck the homerun. Take this single." I had two chances to close the position and take >10% profit but I didn't. In at 4.64, rode up to 5:40, then down to <5, then back up to 5.35 then back down.
Nice trade today on AIMD, which was the premarket "top % gainer". Took position @ 2:04 in the premarket and at it ran to 2:35 at open. I closed @ 2:30, seeing it wasn't gonna reach my goal of 2.50. Nice single.
Stayed discipline. Took one good trade today. I learning that the "Cup and Handle" pattern might be my new favorite., or basically any pattern that curves on the bottom then retests a high. It allows me to see the curling upward and take a good position risking off of the bottom of the curl and aiming for a target of the high retest for a breakout.
Stayed disciplined today. Really should not have traded because my daughter was sick and stayed home with me. But she napped a bit and allowed me to get one trade in on my phone. The trade was a win, but not big.
Nice disciplined trades on NUWE today.
I need to gain discipline. -$450 today. Went from being up $70 to down $450. Averaged down and added more instead of sticking to my stop loss. Then held and hoped. PSTV never recovered.
Today, August 14, 2022, I'm at 55 wins, 55 loses, -$1205.80. I have had some good gains, but bigger losses. I can be positive with less than 40% of wins, but I must have bigger wins than losses. I've sized down dramatically, sometimes, just one single share. I'm focusing more on the process and making sure I'm getting good percentages on my winners.
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