Alpha Wolf Capital

Oh what a difference a day makes.

Yesterday I mentioned how much nice it is when you start out the day with a big win. How it takes all the stress off for the rest of the day. Today was the polar opposite of yesterday for me. You would think I would have had a great day with the market being up big and many of the stocks from my watch list the night before breaking out.

I made two big mistakes right at the open I followed on a buy into $BGMD @ the open it wasn't really on my watch but I got caught up in the excitement of the trading room I belong to.
I chased the stock a little bit which was my first mistake my second mistake was taking a position that was probably bigger than I would normally take. Right off the bat>  seconds after making the buy.... the stock started to tank and then the chat room dumped their shares and then they went short.

Needless to say I wound up having to dump my position for a loss. I spent the rest of the day fighting and clawing my way back to squeak out the day with a very small gain actually I am lucky if I broke even after commissions. I was gun shy for the entire day. I took a position in $MAKO which went up almost immediately but it was a small position then the stock dropped like it was hot. I actually added to the shares on the pullback @ 11.65 which is a definite NO NO. I should have sold> fortunately for me the trade worked out because the stock rebounded I wound up making a profit.

 I also got into $SWHC which I bought in my IRA for a swing @ 9.19. That appears to be a good call since $RGR killed it on their earnings report. I took a quick trade in $XIN from 4.87 and sold over 5. I dumped the $CHTP position taking a 1 cent loss on the shares because earnings appear to be right around the corner and I didn't want to take the risk holding. I had a few more quick trades that I took but the day was spent trying to recoup my loss from my opening trade.

The stress was much more prevalent today and I was pissed at myself for not following my own trades and rules. I lacked discipline today and I paid a price for that.  After having a few great days trading I think I was feeling a little too confident. I needed to be humbled and today I was. What made things worse is I had stocks from my watch list breaking out left and right that just pissed me off even more. I probably should have just shut the computer down and walked away and went to the gym or taken my dog for a walk. Okay so enough of that.

Tomorrow is a new day and I intend on being disciplined, sticking to my plan and following my rules.

 Here is the beginning of my watch list for tomorrow, I will make additions in the morning.
 $PACB, $SWHC, $PRKR, $MTG, $VTUS, $AFFX, $BLDR, $NKTR

Have a great night everyone I am looking forward to tomorrow.