So today I forced 6 trades in $FOLD when I probably had no right to even touch it at all. Consequently, I ended up losing -$93.16 on the day and this now marks my 2nd successive red day this week and my 4th red day out of the 8 trading days of the month thus far.
See the trades (and explanations/thoughts behind each one) in the chart below:
After starting off the month making mostly solid trading decisions each day; I allowed a bit of FOMO to creep back into my trading today. This in of it self was only half of the problem as secondly; I'd already identified that it would be a slower trading session since only 1 interesting gapper showed up on my gap scan and Monday and Tuesday had also been on the slower side.
I really should have been looking to take things easy. Firstly I should have been looking to take things easy; maybe make 1 to 2 trades max if I not not trade at all! Secondly, I needed to wait for really really solid set-ups as slower days like today are less forgiving of sloppy trading.
Unless some really really interesting ideas pop up on my scans on Thursday and Friday; my plan is to go through my usual morning routine but to not make any trades. I will look to "paper" trade and see how things go. Then use the weekend to re-set and come back fresh on Monday next week. Hopefully the markets heat back up again. If not I'll just continue sitting on my hands until things change.
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