Monday, 29 April 2013

2-5: Will the Pain Just End???

What a day, what a day!!! Coming off of my worst trading day for the new quarter, I continued my downward slide. I did what I usually do; I checked SPY, which gapped up slightly above Friday's close. My bias was long. There were a few stocks I traded short today. Nothing really worked today. I'm a little perturbed as I felt like my entries were good. On all of my trades (besides the two that I manually stopped just to record a small profit), I got stopped out. Its a tough game and while getting stopped out is a good thing (to an extent), there were instances where I saw the sentiment relating to the various stocks change; I however, didn't want to exit the trade prematurely.

Enough sad/pity talk, here are the results:

Some of my entries were good, some were bad (not timed properly). UHS, NTE and MHP (to an extent, as there was a strong resistance area near 54.7 and I got in at 54.36) were gamble trades. NTE was already down 30+% when I jump on the short band wagon. I thought the selling was done in UHS, and I jumped on. I wasn't even close.

Ughh. I'm out and will be ready for tomorrow (putting this loss way way behind me-I'm not even upset). Until then......

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