QID- What the hell am I thinking?

I'm pissed off. Yeah, I lost money but more importantly, I didn't even trade my strategy!? I had 4 stocks I was looking at for the open, none of them moved so I closed them all out. I look at the market falling so I go short. Like an idiot, I feel I need to trade everything. This happened the first day of last week also. It's hard for me to go over the weekend without trading, and then Monday rolls around and none of my setups work out and then I'll have to go another day without trading. Especially if I didn't trade Friday, which makes it even harder when Monday comes.

 

I don't know what to do. I had to format my PC over the weekend so my little alarm clock thing got erased which might of attributed to the problem but It was me, wanting to trade something. Well, here yo go, you fucking traded a stupid ass setup and lost money. Bought at the top and sold at the bottom.

 

Going short is not even close to my strategy, I don't even have a plan or criteria or anything for going short. I had an idea of where I wanted to get out, which I did. But I mean, fuck...walking away is so hard! Why? I don't know. Maybe I'm a greedy bastard..

 

QID- Good and Bad

Went short this morning by buying QID. Market agreed with me and kept declining but I bailed out on the next candle, haha. I don't know what the hell I was thinking. I was watching the next candle and saw that it might decline, which it did but it was only one candle and then quickly took off again. It actually hit exactly, my 2% target and then fell.

 

I guess we can sum this one up to, impatience. I've been focusing on my discipline to trade high probably setups which I'll continue to focus on but I also need to focus on being patient. Getting in, setting my stop immediately (immediately is key, I keep it mental sometimes) and just let go.

 

 

 

QID- Went Short Again

Still sick, and still going short. I didn't trade yesterday because I felt I just needed to break away from the pattern of me making a trade everyday which I think might be making me a little gamblistic, if that's even a word. If you don't know what my new made up word means, means I might be getting in a gamblers mind set. So I had to stop for a day, take a breather, and realize what the hell I'm doing. I focus way more on the possibility of something happen and not enough on whether the probability is even likely. Also, I'm going to focus more on perfecting my decision making process instead of trying to perfect my outcome.

 

I went short this morning. Main indications that gave it off were, before we opened the Q's were already up in R2 land. The Q's will get there but rarely and even more rarer that they get there pre market and continue to rally. So I went short when I saw that. TRIN was in an up trend and VIX was declining which told me that support/resistance would of held up more. I should of bailed once QID touched that support level but I didn't and held out for a decline before I bailed completely. I'll try not to make that mistake twice.

 

What else, well, I got in at 39.31 about 5 cents higher than when I saw it but logging in to my broker, filling out the order form, haha you know, excuses, excuses. My stop was at 39 even and my exit target was 40.00 which I thought was do-able maybe even more so if the VIX was running wild. For the first time in a trade I asked myself if I was wrong about the trade. This was after I saw it peak and then decline a little, looked a few indicators and said, probably, and sold out at 39.39 nothing exciting but better than taking a loss. Seems like I've been making one step forward, two steps back.

 

QID- Went short on Small Pullback

I was watching the QQQQ's and I was watching how it seemed to go up and up and I asked myself, "If I owned shares, would now be a good time to sell" I said yes, so I went short which in retrospect was the peak of the Q's I got in on QID at 40.53 and my initial stop was at 40.10 with a 0.25% equity risk. I cut down the risk big time on this one because of the fact that I was bottom fishing and I didn't want to risk my usual 1% on this.

 

Qid started turning around beautifully right after I got in. It was shooting  up a little and I unloaded 50% at 40.79 and raised my stop to break even. I was being very aggressive with this trade. I had a market order in at 40.53 and I left to go do something I came back and I see the shadow of a candle hit my stop and I got filled at 40.58

 

I was probably being a little too aggressive because I got stopped out and I think QID can keep going higher. Q's are making lower highs and are sitting on support which I think it'll break. But what's done is done. I'm happy with my performance.

 

QID Paper Trade

Took a shot at QID again. This time I felt confident in the trade. I was watching QID fall down as the market was rallying up and it looked like a good time to short the market for a quick pop. QID was right above some support and as the candle was forming it stayed a Doji for a while before it finished as a tall white candle. I got in during the Doji time. I waited for it to rally a little as it did and once I felt a good time to unload came around I got rid of 50% of my shares. At that same time I raised my stop to 34.90 to bring a risk free environment. I watched it a few more minutes and decided to unload the rest at 35.03 as the ride seemed to be close, if not already, over.

 

See, if I just would of been patient earlier instead of making those idiotic trades I could of really traded this. I tried putting in the order but apparently I don't have anymore buying power. Bummer... Patience young Grass Hopper...

 

QID- Rookie Mistake

Basically I went chasing after a rally. Market was falling and kept breaking support after support and I eventually went short at the bottom. I'm pissed about this trade because I did something that I'm trying to get myself not too. I'm working on the fact that I don't need to be trading every single day chasing opportunity. Every time I do that, I lose money, over and over and I can't get it into my head that trading like that is wrong.

 

Again, what I need to focus on is being carefree, but not reckless. What I'm doing now is being carefree and reckless. Man, that's easier said than done.

 

I got out before my stop was hit because it stopped acting the way I wanted it too. Looked like the decline was over and realized I made an idiotic trade.

 

QID Trade

Thought I'd go short again. I missed the quick morning sell off and for some reason thought it would be a good idea to get in on it after the fact. I got in on QID which is a QQQQ Short Fund at 34.56 which was higher than what I wanted. I initially wanted to get in at 34.50 I just sold right now at 34.44 because I didn't like the way it was acting. It was jumpy and neutral and the volume was low. It was showing a lot of small bodies with big wicks, something I don't like seeing a lot of one after another. So, I decided to get out and clear my head.