Gross PnL: +$6283.
Net PnL: +$5540. $573 in borrow fees.
Preparation: 8/10
Patience: 6/10
Risk-Reward: 7/10
Discipline: 4/10
Flexibility: NA
Greed: 2/10
Over-trading: 7/10
There were some really good aspects of today, and some really bad aspects.
Was really good to trade some of the bigger stocks profitably today. Have made a lot of money on low floats/small caps recently, and is good to reaffirm my edge in these stocks. Recently it has sort of felt like I don't have an edge on the larger stocks.
XCOM it is worth noting that I didn't cover any because I wanted to hold for the all day fade. Part of the reason for this is because I didn't want to over-trade a smaller priced stock, and part of the reason was greed. Good lesson for the future.
My big fault today was on NYMX. I had written in my premarket notes that "I was willing to go to 6000 shares, but only on a perfect setup/spot; therefore I should probably keep it to 4000 shares". I got to 6000 prior to "perfect setup/spot", and therefore when it occurred I went to 10000 shares. This was pure greed, poor discipline, and somewhat poor patience (not waiting for the ideal setup). This kind of thing is blow-up type behaviour and could have been nasty. Worse part is that I didn't correct the mistake when I got a chance because I thought "I had already taken the risk" while this is somewhat true, it is no excuse for continuing to trade with too much exposure - this is pure greed.
Am currently up massively for the week, and Friday has been a bad day for me since I started back with new account. Therefore, unless something super clean pops up - I won't put on much risk, and will pull out of the day when I am up a couple of hundred (ideally say $400, but not going to be fussy).
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