Whew…what a day. The market has definitely experienced a shift. We’re back to the 4:30am runners and all the intensity that comes along with it. I’ll be the first to admit that I actually kind of liked the slower period, but I’m not going to knock having opportunities everywhere you look.
Today was a green day, but I can’t help but be dissatisfied with it. Sure I had a green day, and sure I made profits that a year ago seemed unreal however two words sum up why I’m not happy. Missed opportunity.
As I’ll outline below I let some key opportunities slip away from me that sould have been CLUTCH. I know I can’t cry over spoiled milk, but there’s just this odd feeling that comes along with not executing the way that you want.
PSHG
I Saw this one moving super early, but wanted to give it a little time to develop. The disappointment comes in right around 7am where We had a spike up into that 1.09 level and I didn’t attack. I don’t want to be oversized in premarket, because anything can happen, but I have to start executing better on my target entries. I watched it slip right past me. Later on I had a plan for adding around .89 and wanting to see another push to .94. I got that push and SHOULD have sized up into that move, but I took partial and ended up adding into some weakness, which I should not have done. Granted I was scaling in, but ideally that push to .94 is where I should’ve let it all hang out.
MDLY
What an epic miss. I start out with a tiny start position and noticed that the volume had us close to 5x float rotation before we even hit open, so I sized down (kept me safe) and had a plan to add off open towards the 2.80-2.90 zone. Well it pushed RIGHT into my zone and I did……..NOTHING. Unbelievable. Then after I see the failed I still didn’t get in and I watched a PRIME opportunity pass me right by. Having full size into that halt would have been GLORIOUS.
I was pretty frustrated about that and despite being up a pretty penny on $PSHG I just wasn’t really feeling it because I didn’t execution. I was a little down on myself and then it opened back up and I noticed Nate and Amp talking about adding and that’s when I remembered my training. Just because you missed the first move doens’t mean you can’t execute in the next zone, so I pushed the pansy in me to the side and sized allthe way up into that dead cat bounce right into a key zone and boom.
I didn’t get the big move that I would’ve wanted prior, but I did walk away with a valuable lesson. It’s not over until it’s over. Stop feeling sorry for yourself and go out and execute.
After getting back in there and executing I felt like Jean Claude Van-Dam in bloodsport where he got blinded and was getting his tail whooped until he remembered that he trained to fight blind.
Hopefully this is a defining moment for me…I guess I won’t know until time proves itself, but this is a nonstop process in which you have to keep looking back over stuff, remembering where you’ve been, and just doing what you know you have to do.
Moving forward the name of the game for me is execution. Hesitation is not acceptable when it comes to trading my plan. I need to execute and if I’m wrong…well then I’m just wrong and I will cut it quickly, but I HAVE TO EXECUTE.