11/16/16 Recap

Man another crazy low-float mania day.  +/- $0 for me today.  I did not take off any of my shorts and I am not happy with myself about it. 


I feel very frustrated with myself today.  Just crazy action and I let myself brake rules and get stubborn.

I woke up late today and everything was flying Pre-Market, so I missed my stop losses.  I sat down in front of my computer just seconds before DRYS got halted my NASDAQ.  This halt caused a HUGE plunge across the entire sector.  At that point I was well back into my risk parameters and  I thought for sure the sector was done.  I added to my SHIP and TOPS short fully expecting them to plunge after the open even further.  Well I guess everyone else thought the exact same thing and the entire sector squeezed again.  Just in-real!  The danger of being on the same side as the crowd.

I never in 1000 years thought it would run as far as it did after the ring leader halt.  But a new ring leader emerged…DCIX, and everything went wild.

In all honesty I am ashamed of myself.  Instead of stopping out I dug in my heals and went for the ride.  I had an unrealized loss of close to 30K at one point today.  Just shameful.  My week link–stubbornness–got the best of me.

The thing is that had I cut my losses and re-attached on the back side of these moves I could have made all my losses back and then some.  But instead I just starred at my computer screen all day hoping and praying I would not blow up my accounts.

I honestly need to do some serious soul searching about this issue.  It is a deadly flaw.  If I cannot trust myself to cut my losses when I should be then how can I continue trading?  If I can’t trust myself I can’t start playing bigger size.  I can’t get more aggressive on trading to maximize my wins.  And worst of all, eventually I will blow up my accounts.

The problem is that I completely understand the danger here.  I fully know what it is I need to do and how I should be trading, but I seam to be incapable of actually executing it.  I seam to be incapable of stopping out when the going gets crazy.

The issue here is not my adds pre-market or even my holds overnight on these trades.  Its not my thought process or my trading plan.  The issue is that once my thesis was proven wrong I did not stop out.

I need help!


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