August 12th trading recap

BOT    200    WX    false    Stock    12.149    USD    SMART    09:48:18        1.00
SLD    200    WX    false    Stock    11.99    USD    SMART    09:53:25        1.00
($33.88)

WX was a pre-leader; I tried going long (got a horrible fill) on the $12 cross and got whipsawed out. It later hit a high of $13.49. A looser stop or a willingness to get back in when it went back over $12 would have led to nice profits. ADCT was another pre-leader today that ran well; I missed playing it.
BOT    500    DRL    false    Stock    4.060    USD    SMART    10:19:05        2.50
SLD    500    DRL    false    Stock    3.980    USD    ARCA    10:23:08        2.50
($45.00)

DRL has run in the past; in retrospect trying this on the break of $4 was not a good idea (especially considering its multi-day chart).

Daily Profit: ($78.88)

Disclosure: No positions. I have a disclosure policy.

0 thoughts on “August 12th trading recap”

  1. I chased WX and took a loss on it when I should’ve waited for the pullback. Usually stocks over $10 I allow myself a 30 cent stop….and I got in WX at 12.27….way too far beyond the 12 mark. If I had gotten in between 12 and 12.10 I would’ve been fine when it had that dip below $12.

    I was in ADCT and let myself get shook out even though it didn’t even get close to my stop.

    Poor trading decisions for me this morning overall.

  2. Thanks for the comment, Yngvai. It is nice to know that I’m not the only one who messes these up sometimes (although for me it is most of the time!). It is definitely a good idea for me to loosen my stops on the higher-priced ones. I’ll try to do that.

  3. Yngvai — How’s your trading doing overall, by the way? You haven’t said much on your blog recently (although I understand what with the wedding).

  4. Had a rough go for a while but I’ve been turning it around….my two trading accounts combined are near its highest level now. I’m getting more consistent while at the same time reducing my number of trades. I still have work to do though….still making too many mental errors.

    I’ll post to my blog about it at some point. Just haven’t had a chance yet.

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