Second worst game of the month to open up the final week of August. Should never trade against the clock, I had an appointment this afternoon at 1PM and I managed to more than double my deficit from 11:00 to 12:30 in a fruitless attempt to cut into that loss. What was a minor scratch turned into a serious wound as I was crushed with a few horrendous trades. I am back in the red for the pay period, down $100 to be exact, it is hard to believe that I will mail in such a broken game going into the final week of the pay period. I have 4 games left to do something with August. Make or break, I was just upgraded to 3000 share position limit and 16 positions, needless to say it will take a very long time before I can actually make use of that. 7000 shares on 1 of 6 shooting, -443 before commissions, -473 after, no bullet. Pre-Market: Nearly non-existent news 9:30: Feels like crap volume out there, almost the same way Friday started. Took RIG long and out flat, took SGY long for a dime scalp, as OSX strength quickly faded. Took MMC long on IUX strength, horrendous trade as I did not stick to my hard stop, lost 50 cents instead of a quarter point. 10:00: Shorted PGR on IUX weakness, horrendous trade as I did not stick to my hard stop, took a 20 cents profit instead of a sweet full point smooth as silk tank. Took RIG again and got hit for 15 cents on a fake OSX rally. Churned IRF left and right. Churned DNA left and right. Took PGR long bottom pick, I don't do this kind of plays anymore, I was so desperate, I was smoked for another half a point as for whatever the reason my stop did not execute. It can get a lot uglier from here, but I have to go to that appointment and I am not going to create a nastier wound. It wasn't easy, but for whatever the reason, I took too many rushed shots today, and as a result, worst game of the month. Swallow this bitter bill, tommorrow is another game. Composure, composure, composure, I have no idea why I pulled my hard stops, there weren't much volume and I thought stocks were playing tape games, but those stocks never trade big prints, can't wait for tommorrow's bell, I shot myself in the foot today . . .
Hitman, Monday was pretty tuff, I guess, for a whole bunch of people. The day was narrow range and low volume (not surprising, being a Monday in one of the year's biggest holiday periods leading up to Labor Day). My policy this week is to cut down big time on trading, unless I see significant intraday evidence that will literally force me into a trade.
Hitman Quit beating yourself up. All you are doing is churning your own account and your brain too. Overanalyzation is the kiss of death. You need to take a long walk and wonder if your not going through a midlife crisis with us as the witnesses. Enough Already.
Tradex21, you shouldn't be slamming a senior member of this board known for his worthwhile contributions. Hitman is a 21-year old licensed professional trader with Worldco on Wall Street who does all of us a service by posting the details of his trades, winners and losses. Like many on this board, I continue to enjoy and learn from his posts. His style may not match mine, or yours, but that is no excuse for meaningless attacks. -v
Vitajex I was not "slamming" Hitman! I just feel he is literally beating himself up and should take a quiet reflective walk down to Battery Park and sit on a bench for awhile and ruminate. Then he could better comprehend the pummeling he is administering to himself. This is not Trading this is Overtrade Torture of the worst magnitude. He is chasing any and every indication of anything happening or maybe happening. This individual needs to stop by Ruth Roosevelt's office for some counseling. Just turn that $800.00 check over to her.
<Vitajex I was not "slamming" Hitman! I'm with Vitajex. If your real intent is encouragement then it can be done in an encouraging manner rather than condescending tone. "Enough already" is right. Hitman transparently posts ALL his trades, good and bad. How long would you have the balls to do that and remain open to shots from people like you? JB
Why do we handle these rude posters apologetically and with kid gloves? tradex21, if you see a thread titled MMMMMM Trading Journals, where MMMMMM=month, then it is Hitman's turf. Now go fly a kite.
Tom, a little advice for you.... Don't take out your frustrations on us. We aren't to blame for your losses. :-( TradeRX