It was an up and down day for me in terms of energy and success. Luckily, my up was greater than my down! Started strong and kept up a nice success rate from the Open through 1:50 pm, going 26 for 30 winners. Should have quit there!!! I then proceeded to go 7 for 17 while dumping a bunch of my gains. I really got tired and two back-to-back losses at 3:03 and 3:04pm were inadvertant clicks on the wrong stock! First I clicked a buy on GS but meant to click SKF which gave me a loss on what should have been a gain and the next, I meant to long GS but clicked SKF. This should have been a clue to take a break. The one thing that caught my eye while prepping the screen shot and this summary was that my run of bad trades coincided quite closely with the intense run-up of SKF (and drop of GS which I was playing as it's inverse because I still couldn't short the SKF). I have noted before that I have trouble when the move is big and all one-sided over a longer intra-day timeframe. My recent gains over the past few days have been in picking reversals. The end of day move today was a very hard time to play for reversals, with the energy decidedly in one direction. I really must start thinking longer term on some of these moves. The questions is, how do I recognize a longer move before it happens!? I'll be working on trying to figure it out. Sadly, if I had placed a trade at 1:50pm on SKF and sold at close, it would have given me $17.75 per share in gains instead of the loss I incurred; $2.44 cents per share loss over the same time frame!
33 for 47 in trades, 70% win rate. Gain of $4.22 per share.
