Satuki @ Home

I woke up this morning and looked at a few stocks I selected last night.   The only stock I liked was MOS.  It went up a lot in the past few days, which means it is ripe for a good intra-day short.   I like to short into stocks like that.   It looks like dangerous since most people think it is trading against the trend.   They are right if it is swing trading.  But It should not matter for day trading since all stocks pull back at a certain point.  Key is timing.   Some people do not believe in timing. But I do.

I could have made decent money today.  I shorted into MOS twice today.  One trade was botched up since the entry was not good and it was stopped out.  In fact these 2 short positions were very close in terms of their entries, one being 56.30, the other 56.47.  But due to the increase of the overvall position size, I had to use a narrower stop for the second one.  If I had held onto the second short position a bit long, I would have made a total of 600 along with the other short position.   Then I would have stopped trading for the day.

The CNX trade was a rotten trade.  I took it because I wanted to see if I could make money going long on something.  That thought occurred to me because I short stocks way too often.  It is not well balanced. That is still not a good excuse though.  We take a trade based on signals instead of trying to prove something.

A lot of traders can make a few thousands this week and then lose half of it next week. It is actually a common and tough problem. I have been trying very hard to keep my gains, which certainly takes a toll on my performance.