What a day for the shorts! Every trade was an uphill battle. I just kept shorting and shorting. Nothing really worked out. Most of them went belly up. Were there no good shorting opportunities? Not really. There were quite a few. For example, POT and FSLR were good and easy shorts. Let’s take a look at their 5 min charts(Courtesy of ThinkorSwim). Click on the images to have a better view.
POT
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FSLR
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As we could see, they trended lower today. I believe it is a bit easier to trade trending stocks than choppy ones. Stocks are choppy when people have too many different opinions about them,which makes stocks hard to predict. Stocks trend when one side is overwhelmingly dominant, which is easier to predict.
MOS was very choppy today. My entries were not optimal. As we can see from the chart below, I still could have made money if my entries were at A,B and C which were key reistence. Everything seems so obvious when you are not trading. Hahah! Of course, shorting FSLR and POT would be a little bit easier than MOS. The question is why I did not short them. I have not found the answer yet. But I will work hard to find the “why”.
MOS
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Good thing today is that I only lost around 150, which is really peanuts considering the size of the positions I took today. Risk Control is key.
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