8:17: Have slightly less in account today (to PDT) than normal, so important to trade a little bit smaller off the bat and lock in smaller profits, then go to normal. Ironically this actually may help with my goal for today, which is to avoid getting stopped on trades (i.e. manage size better).
So yeah really want a positive day, yesterday may have been a much better losing day than in the past... But it still doesn't feel very good. Focus is on keeping smaller size and saving bullets, and adjusting to playing support and resistance after opening moves rather than anticipating trends.
8:40: Remember to avoid anticipating lower/higher highs.
9:47: Computer crashed at 9:31am and had to restart... Took a while to get everything back on and was relatively stressful. Lost a few random items that were thrown on watchlist at last moment but no big deal. Need to slow down a bit and get back on track.
10:17: Sensing a bit of stubbornness creeping in on AKRX. GIII has given me just as much "trouble" but have managed far better. That being said, initial entries on AKRX were when computer was down, so couldn't do much about that - not that market cares about computer problems.
11:49: So yeah stubbornness on AKRX and getting punished for it. The proper cover was obvious at the time (but was stubborn) and in hindsight. Things contributed to the stubbornness. (1) I was a little larger than I wanted to be because of computer troubles, (2) I was below PDT and wanted to micro manage position, but obviously couldn't so instead just kept it, (3) Hope. (4) Chase/Premature/Lack of Confirmation adds. (5) Not having hard stop in, especially once got adds.
2:25: Think the contrast of GIII versus AKRX is worth investigating. Both have been in a pretty strong uptrend but I lost a lot on AKRX versus always being on top of GII (and indeed if I could have traded it all day - couldn't cause of PDT - I would have ended up with a decent short average and rode the down-move nicely). Will do a side-by-side analysis later.
Also need to remember that until uptrend has had a reasonable retracement, so can use high of day as stop it's not worth putting too much effort into fading it.
2:53: Going to call it a day. Don't really want to top up account immediately so will take tomorrow off to ponder. Given midday weakness on GIII, and probable close below vwap am going to swing it targeting today's lows. Stop above today's highs.
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