The account is getting close to that $500 mark but it is still possible to make a turnaround. I just keep making it harder on myself.. Today was sort of the same theme as yesterday except I cut my positions for flat when they were acting like I thought they would. I tried to get in CMCM again for the r/g but didn't get filled and of course it went a decent amount. There were some other plays that I saw but didn't get into but would have worked nicely had I tried them. Surprisingly, I am finding more long r/g plays for the morning than I thought I would. I naturally thought I was better at shorting probably because when I was in school and come back around 11AM I would find more short opportunities than r/g longs. But now that I am trading at the open, the r/g play has been more of what I have traded (or tried to trade). This might be due to the fact that now in the summer the first 90 minutes are where the money is made and shorting some of these names can get you in trouble.
White arrows are entries followed by exits.
POST: I saw the big decline today and kept an eye on it for most of the day. I started seeing some increasing volume, especially on the 5min charts, that might have signaled a bottom. After seeing that, I wanted to see higher lows, which did happen, and so I got long at 45.5 with risk to 45.3 over/under. It looked good for a bit but it never got going and I decided to cut it off for flat since I didn't see the point of it hitting my stop since I thought it shouldn't be testing 45.3 support again if it wants to go higher. This was a good choice as it continued lower for the rest of the day.
Things to work on:
1. Continue doing a good job of adhering to the "right or right out" mentality.
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