Trading Recap 8/9/16

Another losing day unfortunately and although there was some definite sloppy trading I learned a lot and I think it will be one of those turning points. It feels that way at least. Off the top of my head - things to focus on: entry (just going for it and having confidence), FOMO, sticking to things that you have a plan for and not just trading things for the sake of maybe getting your PnL back, not trading PnL.

White arrows are entries followed by exits.

HIIQ: I was short biased after looking at the news and the daily chart. They also just registered 1M as part of an employee compensation program before earnings so they could have sold into that. 1M is a lot considering the float so overall it seemed to be a good short. I wanted to short pops but I still waited for "confirmation" and as you can see on the chart, I shorted the bottom of each candle essentially. This means I need to work on my entry and not be afraid to just get in with small size (although I am writing this the day after having traded the open and trying to get in at what I thought were good points on small size.. and I hit my downside so not sure what to do, going to have to think about this one). I built in when it looked to be peaking and when the support cracked I took half off and then reloaded on the pop. Unfortunately, that flush was the low and after it looked to be coming back I took it off to be flat on the name, which was definitely frustrating.

ISNS: I thought this would be an easy short which should have been a warning sign as it was probably crowded. I ideally wanted a pop to the .50s to get short but that never happened and it had some failed follow through instead. Again, looking at where my entries were on each arrow I was looking for that confirmation and slightly chasing. This led to not getting good entries. I also didn't cover some when it broke yesterday's lows which I remember on my WTW trade from a while ago that that might be the bottom after it takes all longs out then only has shorts left to squeeze. I ended up taking a decent loss and added for the hell of it and didn't cover when it looked to have reclaimed. So much for an easy short.

CSLT: I think this was mostly an emotional trade (at least the first set of trades were). While I was in them I looked at the daily and took account of all the info (this was after I was in it = emotional), and I realized the stock already made it's move judging on the daily chart so I just got out for flat pretty much on the first set of trades. Afterwards I was looking for EOD run and while it ran a bit and I added, I played scared and got in/out when it would go down a few cents because I was trading scared and not too confident. It wasn't worth it. 

Things to work on:
1. FOMO/emotional trades
2. ENTRY/PLANNING!
3. NOT TRADING PnL