Trading Recap 8/7/15

I haven't placed a trade in over two weeks and what a two weeks it has been to not have taken any trades. I guess it goes to show that you must keep your losses small because if you don't, when the good trades come you may be too timid or scared to take them. Until AQXP, it was sort of whatever but this was such a huge miss and these only come once in a while. To think, today I thought it would be slow and there would be nothing. Anyway, I have to go ahead and not thing about what could have been by going long when I saw it at $3. Just have to learn from it and maybe in 5 years when I see another one I will be ready. Overall though, I am calling things and seeing things more clearly. When I went through my trade logs, I realized what was going on and the trades I taking were just stupid for the most part. I just need to trade them and I know for sure it is possible to still turn it around.


AQXP: I saw it in the AM and thought it was done after the double top and lower low on the 1min. However, I saw it just come back out of nowhere and I thought that it was weird. Didn't decide to go long, however. I had a feeling again that this would be another huge runner and that really at any point I could have gone long and make bank, but again I didn't. That might have been due to the fact that Suretrader was out of borrows so a lot of people couldn't short it and I figured Centerpoint traders are usually better and wouldn't trigger this much of a squeeze, but I wasn't sure if other brokers had it. I thought it would go to 6.5 and stop due to the gap fill on the daily chart. Had I gone long, I might have sold into the $5-5.60 parabolic but maybe not, not sure. After the fact, I noticed a wedge that I could have also gone long for a 6.5 break. The only other trade was going long for the premature EOD breakout and then shorting it. The Cowen comments helped it for sure. I think without them it could have just faded back from $6.5 but that seems to be the new play - see a nice % gainer and when everyone thinks it's done just release some BS PT and squeeze everybody.

Things to work on:

1. Take the fucking trade.