December DAY TRADING CRITICISMS

 

Positives

12/27/2016

• Cut losses on CNAT and was able to recover a little on the Long

12/28/2016

• dip bought CNAT, failed and I got out near my mental stop
• Right on the bounce just wrong bounce. Needs to panic 20% or more. 
• Quick short when I saw CNAT failing at support resistance level. Stay quick when it is or not working. 

12/29/2016

• Didn't wait around for more
• Original thesis of looking to see what the stock would do next (TIMLINE) came to fruition 

12/30/2016

• stuck to trades from my watchlist
• Helped me focus on my potential setups
• Cut losses quickly

 

Negatives

12/27/2016

• trades mid day
• Didn't account for all the shorting o/n that I was accruing interest
• Over traded. 
• Patient with push to resistance level of 5.64 CNAT with good risk reward. 
• Had a mental stop and stuck with it for a profitable mid day short CNAT

12/28/2016

• could have been faster on the CNAT dip buy. 
• Tried to set up an order prior to open at 5.72 to catch the bounce but need to read price action better. 
• Wasn't quick enough with midday short. 
• Was trying to get a few cents more on my profit short of CNAT and lost a little of profit. Have to get out of the mindset of pennies matter. Read price action and move on. 

12/29/2016

• held position too long 
• Even though it worked out I held too long thru my mental stop loss

12/30/2016

• chased SGYP when I saw my thesis play out correctly
• 2 trades too many today ( had 3)

 

General

• Need to follow Tim only as I see the plays myself
• Position size is very important right now. Can't go under the 25k minimum but at the same time I don't want to over trade.