Daily Summary

23400 shares
-508

I lost a big chunk of my gains from yesterday. There were 2 ideal setups to get long. The bounce from the lows at 10:45 and the second leg up from 12:45pm. I missed the first leg up and I was frustrated so I ended up churning. I had a lot of impulsive trades today. One big loss came from shorting POT when the futures spiked down at 12am. I shorted 200 shares near the low and covered 85 cents higher for a $170 loss. I was trying to call a top, and I wasn't even following the stock.

I was down over $400 after the trade and I was not able to trade with conviction. I let many winners go because I was doubtful. I was able to come back to around a $150 loss when I caught a nice move in CRL. After that gain I just piled on losses steadily till the end of the day. I made another impulsive move by buying 500 STP right near the highs at 33.93 and the stock reversed fast on me. I ended up selling at 33.65, putting my pnl to a new low.

One day I trade well and I lose all discipline the next day. I think the biggest reason for my over trading is because I kept thinking of the moves I missed. Usually after a big move the market consolidates and chop around for another move. I wanted to make something happen badly so I end up trading during a range bound period and all I get is chop.