Feb 24th - Tuesday

Well. What a horrible day this was. One thing is abundantly clear. I struggle with days where there is strong movement in one direction. The big drop in the SKF corresponding with the nice move up of the markets just punished me. It happened once in January, happened yesterday before the big drop bailed me out, and then today. I usually have had good luck trading the probablilities of reversals after big moves. Today, I would play a reversal, it would fake me out, and the momo would continue... with extreme prejudice. The back and forth wasn't here... it was biased downward and it took a toll on my practice account. Again, focusing on the trees and not the forest, I would scalp the 5 minute candles. Then, after I was done for the day, the leg down I was playing was ALL RED CANDLES, yet I managed to lose about $8.00 per share in the same time frame! This should have been one short sell, hold on, and cash out the move. Clearly, the scalping that was working for me in Jan and early Feb does not work on definitive move days. This is the same problem I was having when I was trying to learn the GOTS method last fall. I'd bail on my winners much too soon, grabbing partial profits out of fear, and sit on my losers waiting for the move back in my favor that never came!
Recently, I'd get a few winners and be up .50 cents - $1.00 per share. Yesterday and today, it is too volatile to do that. I really need to learn to READ these high ADR issues and look for the easy move of the day. Bank on one or two moves instead of being an over-trading fool! Instead of scalping each 5-minute candle, I must look for the real momo and try to ride it; the SKF $6, $8, and $10 moves in one direction. There seem to be a few of them in any given day lately. I don't mind saying this was a very frustrating day for me. I was up most of the night thinking about it.
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unknown trades; loss of -$8.00 per share