Main Account: +$5.
Nasty day. Very nearly got stopped out for the day, was down a tiny bit over $1000 and just about to hit out and call it quits. But then it completely reversed and I hung on.
Anyway, the cause of the big drawdown was again not having stops in. A stock that I was short had a monster breakout all within 2 minutes, and so I never really got an opportunity to hit it. Unfortunately although it did reverse it also managed to do one or two fakes before reversing, so I had stop-outs on them as well.
I tilted a little after that, but overall it wasn't too bad. Focus on those times of tilt needs to be on getting excellent entries, and sizing in very slowly.
Another general comment for the day is that the losers were way too big. This relates to sizing in too quickly, and not getting good enough entries, and not adding to only winners. Best example of this was ZFGN, where it was a classic fraud piece play and instead of giving it the 30 minutes to slowly size in on pops, cover dips and then add on trend break I chased a little, added too quick and ended up getting squeezed out. The play still wouldn't have worked, but by shorting pops and keeping size appropriate it would have been much more controlled.
Back Account: -$1310.
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