I thought I would want to trade NUGT, but I wasn't feeling up to it. I am very trigger shy after losing so much. I am trying to play it safer. Ultimately In hindsight the trade would have of course worked out. But it also dipped in to the 79's. Who knows when this will top out.
With a horrible mindset in place, realizing that As long as you go long in NUGT you can pretty much prosper. I took out a long trade, closed out my trading windows and went and did some work, checking in periodically. It just continued to rise, I even sold prematurely and could have pulled out over 750+ by EOD, but in the end it made me positive for the day. So, I'm taking my blessings where I can get them. After last week, I will be paper trading a bit more rather than pure Live trading.
Not only did I sell my long position, I Shorted it after. My mindset was clearly not in the right spot. at this point I was -250 after my day gains of about 130 prior. At this point I had thrown the towel in and said I'm done. Between the 8th's and the 9th's losses (almost $1,000 in total) I had pretty much given up, Until the next trade.
TWTR has not been kind to me. that -2.51% loss, is not relative to my account size, this is a 14% loss on my account. However, I wasnt devastated. I believe that I can recover it, I just have to adapt my strategy. I was trading mornings. Something that I was never comfortable with. I like trading Consolidation breakouts. From now on, Using SMA/EMA crossovers + Consolidation breakouts should provide more reliable profits.