A green day is always a great way to end the week. Last week I wasn’t as fortunate, but I’m grateful that I was able to reset and not let it get the best of me.
Speaking of last weeks unfortunately red day, I went back and did a little digging to try and figure out why it’s a bit tough on me and I think I came across something. I pulled my stats in tradervue for this year and have attached a screen cap of my performance metrics in terms of winning vs losing days.
This year my daily win rate has been pretty strong as seen above, but with this comes the challenge of dealing with losses. I’m not saying that I want to lose more so that it’s easier to take, but the reality is is that for me it makes it a bit tougher to come off of a loss…especially a stupid one.
A major goal has been to make sure that I don’t let the losses put me in a slump, so it’s a constant battle for me to improve on. Yes losses come, and I’m ok with scratch losses because it’s just the name of the game, but the red days that add up are tough on me mentally, so I usually try to reach out to some of the big dogs (@investorslive, @amp_trades, @elkwood66) to help me evaluate and work towards pushing forward. I doubt they’ll read this, but if they do I just want to say I really appreciate you guys.
I spoke with @amp_trades about my sizing issues and he gave me some pointers and I took that and was able to get my position sizing much better positioned today….I mean sheesh….literally positioning and timing creates incredible results.
Now…with that being said lets get into the days trades. This week has been littered with opportunity and I’m grateful to have the chance to participate!. I had $MVIS on radar and had some locates, but completely missed the move and watched it moonwalk back to reality stress free without me. Not to mention I missed the $WWR play, which was textbook!
USWS
Man such a nice play….really hate that I fumbled that push to $.98! I was like a dear caught in the headlights. A key takeaway for me here is that when opportunity presents itself like this you just have to react. Granted I got the meet of the move, but another $.20 would’ve been fantastic to have locked in. I;m happy to report that I got up to about 75% of my borrowed shares here. I was hoping for a larget pushing off the open, so I held back just a bit on adding sizing, but overall I got what I wanted and the meet of the move. Had I been able to hang around longer (darn day job..lol) I would’ve been able to grab another .10 on the move, but hey, you can’t argue with profits. I’m happy with this play, but as always there’s room to improve.
SNMP
Another play where I felt really good about it. In hindsight I kind of wish that I held that front side size for after the para move. Granted I was pretty much right in the zone, but those early adds before market open definitely affected my position average. Things have been moving in premarket lately and fading, so it’s been hard to not get some position on a move. If you look at the $MVIS chart that I mentioned earlier you’ll see what I mean. They had one good push back towards a target price around 7:04am and then it just moonwalked from there.
After the para move I was at 95% size on this one and it did what I wanted. My only wish is that I again was able to hang around a bit longer, because it touched the .70’s by EOD and that would have been GLORIOUS!
All in all it was a nice day and last Fridays’ blunder is almost recovered. I’m not rushing to try and replace it, but rather focusing on proper setups and just sizing into the moves like I should be. The results will speak for themselves if I can keep consistent in that.