Whew! While I didn't want to pressure myself a little, I kinda wanted to come out on the week in the green. However, I knew that forcing a trade is the same as making a bad trade, so if it meant sitting out today if nothing I liked popped up, so be it.

One of the "complaints" I have about the Pennystocking Silver chatroom is that it can consume you and  your attention, and really make you start second guessing yourself, or get distracted from the potential plays  you were watching, only to find yourself missing out. It's part of being new, I get this. :) And then there's the building FOMO as you watch people report profit after profit after profit on something you weren't watching and then you start to panic and next thing you know you're struck with paralysis by analysis and you don't make any trades, even though your thesis was solid and you would've made money, but dangit, everyone knows what's best for you.

Best For You

Well, here's something that popped up. Michael Goode reported something about $KURA and suddenly.. I know this play. It's a > $10 stock which I normally would never touch, but they're oncology and $ECYT and $CLSN both had great little runs on cancer news, and $KURA also had a nice little run recently on it, as well. (actually, exact same news, this was the update)

Cancer news + volume = you have my attention. Of course the stock has a slight run, then drops precipitously. Stock gets halted. Oh man, Goode talks about the disappointing results of the news as to why it's dropping, but I didn't see it that way. Four out of Six showed partial response, 1 progressed, one showed best response. Four out of Six. Come on, if we traded green Four out of Six, man, we'd be ecstatic. LOL. Anyway, the point is we're looking for the drop and sure that might be right, but at the same time.. Okay, so I'm a little hesitant. I start formulating my plan. It's a > $10 stock so I'm thinking there's going to be at least a $1 swing pretty quickly, in either direction. Trading resumes, I watch to see if it can stabilize. Looks to be stabilizing around 12.90, I want to get in and get out, a little impatient. Buy in, get in at 12.91. Immediately drops to 12.50s and below for a moment. I almost sell since my risk was 12.50, with a goal of 14. But, I'm watching the L2 and it's all over the place. $12.40. 12.50. 12.90. 12.20. I know it's going to come into focus in a minute and I decide, same as $ECYT and $CLSN: Give the pattern a chance to work itself out. And it does. Soon it's at 12.70. then 12.90.  Then we're in the green over 13 and I congratulate myself on being patient on something I've done before, seen before. Par for the course, I set my limit at $14 and take my shower. Once I'm out of the shower, i find that the stock had come close to crossing 13.90, but was now down around 13.60. Feeling like it could make another stab at it, I hold off on selling so I can completely towel-off, deodorize myself, etc. Yeah, I'm standing buck-ass nekkid in front of my computer because I want to see if I'm right or wwaaaaaaaayyyyyy fuckin' wrong. :P Come back, it's dropped below 13.30 a brief moment, but seems to be holding support between 13.30-13.40. I wanted a dollar, and had I bought in at 12.50, I'd have gotten it, or close. Volume had faded to almost nothing by this point; flash in the pan. Had volume been steady, I'd have stayed in, but alas... Let's get out and lock in profits. 

Instead of reading and trying to "follow" the chatroom, I did my own thing. I trusted myself to know that I'm on the right track. I won, albeit small, and have regained confidence in myself. The chatroom is good for news and catalysts. But as for trading advice, I get confused at "triangle high lettuce wedge with mayo". Fuck I want a BLT right now. 

Go Your Own Way

Unless we get a good squeeze this afternoon, I think I'll bask in basically a break even week (slight green, lol) knowing I'm at least internalizing the rules, learning to ignore distractions, and trusting myself more again. My two losses this week weren't bad, and might have been weak trades, but I don't consider either to have been *bad* trades. So there is that.

Have a great weekend everyone and study those patterns. Study those catalysts. Make that mother-fucking money!