It pains me to write this but I can't just write about only the good days.
To sum it up I overtraded and I chased!!! Literally every trade I took I got chopped out of. It started with $VVTV and $INAP, then there was $JRN,$MNOV,$DARA, $CHTP, $DCTH. I had a very small profit in $NQ on a quick trade that I gave back when I attempted to trade it again later in the day. I did take a few pennies in $DARA selling half my position and holding half overnight. Yesterday I did not feel like I was on point and today I clearly was off my game. I wanted so badly to make up my losses that I was taking trades that I hoped would make the day a winner. Then after getting my face slapped repeatedly I had a chance too jump into $AFFY @ 3.40 and I passed out of fear. Guess what happened next? That's right>>> the stock took off and went over 4 bucks in less than 15 minutes. That could have made my day. Plain and simple I got my ass kicked today!!
I am still up on the week overall but this definitely put a damper on what was looking like a stellar week. So its back to the drawing board. After reviewing every trade I made its clear that I chased. My chasing got even more aggressive as I kept getting stopped out of a trade. I kept thinking to myself, there is no way I am going to lose on every trade I make. Probably very similar thinking to someone sitting at the blackjack table getting his hat handed to him by a hot dealer. It was getting so bad that I didn't even post my trades because I didn't want anyone to follow me into another losing trade.
So I am not going to dwell on today, I will take my lumps and move on. I just need to make sure I don't make the same mistakes again tomorrow.
After going through my scans I am even more frustrated with my performance today.
Seeing all the missed opportunities has me rethinking my strategy. I am going to refrain from putting out a watch list tonight until I get my head straight and I am thinking more clearly.
I will have a watch list in the morning or possibly later tonight. Have a great evening folks.
Other notable after hours movers on earnings: P +20.8%, MEET +9.9%, AMBA +7.8%, HRB +4.7%, CCIX +4.0%, WX +3.2%, FNSR +3.0%, WPRT +2.2%, MXWL -14.3%, CMTL -12.0%, SKUL -9.5%, ZQK -8.7%, MED -8.7%, ANGO -4.6%, SQNM -4.2%, WDAY -3.1%, COO -2.7%, YY -1.4%, CYTX -1.0%, POWR -0.4%, MAIN -0.4%, TXN -0.3%
Tomorrow morning before the open four economic reports are scheduled to be released: 1) Nonfarm Payrolls (Consensus 165k) and Nonfarm Private Payrolls (Consensus 178k), 2) Unemployment Rate (Consensus 7.9%), 3) Hourly Earnings (Consensus 0.2%), and 4) Average Workweek (Consensus 34.4).
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