Red day recap. I’m a day late writing this because honestly I was just to messed up about the trade to write it up the same day. It’s not a good reason to be late, but hey it is what it is.
Some red days I can live with, but this was totally avoidable. Especially given that this was an “emerging play” and I skipped all my scan plays, which pretty much ALL of them did exactly what I wanted.
I have to focus on edge, edge, edge.
PPSI
Took an unnecessary shot here. The writing was on the wall in terms of price action and because I was finally starting to size up I didn’t want to give it all up (not sure why I’m even thinking that way…that will be explored later). The price was holding, so I took a little off, and then added it back on when it seems to be going back in my favor, but when it started to hold 10-20 cents higher than my average I started thinking “oh, it’ll do xyz” and pretty much when i get confident like that in holding a position it’s usually when I blow that position up….and that’s exactly what happened here. There was a swipe, and I didn’t size down properly again thinking I’d get another pull back and well…just messy.
Moral of the story….when you’re wrong just be wrong