Today I traded MCUR, NSPR, GRBP and TWTR. Ended the day +1238.5.
MCUR I closed +572. Nowhere near what I hoped to get out of it. Unfortunately, today the liquidity was completely gone. It took me over 20 minutes to cover just 1000 shares sitting on the bid! After that painful cover I decided to just smack the offer to take the rest off. Yes, that cost me a few more $’s in commissions but I was satisfied to make over $500 on the trade.
NSPR was my big disappointment of the day. I shorted after the morning spike and pull on pops. I got some good size. It would have a nice stuff on the 3.60’s but then hold the low 3.30’s. It did this multiple times and kept holding the low 3.30’s but would inch higher on each pop. At this point I decided that there was a good chance this would run again since it was holding so well and I did not want to risk that. Sadly, I was wrong and it tanked. I missed out on a huge gain. As disappointed as I am about missing the big win I still think I make the right move. I have see these things hold like this and push to new highs.
GRBP I shorted into the morning para. I did not get huge size on this since I was shorting on the front side and had to be prepared for higher. I did have some great entries though and covered it for some nice gains.
TWTR was another fake out for me. I bought the dip when it appeared to be basing. It was an ok entry and the play was working out nicely and I moved my risk to my entry price. It then had a sharp pull back to my entry price so I took it off for basically break even. It then of course continued higher. Frustrating again today.
Trading stocks can be so frustrating. It plays games with your mind, toys with your emotions, and tries your patients like today on NSPR and TWTR and yesterday on TWTR. It’s so frustrating when you miss out on huge gains. It makes you want to bend and break rules on the next play or ignore price action for the chance of that huge win. “Next time I’ll just let it go a little past my planned exit… ” or “The last runner died quickly so I’ll size in quicker on this runner.” That is a dangerous mindset to get in. I am seeing over and over how hard it is to control those emotions. If you let those emotions win It can cause big losses just as easily–and more likely to in my opinion. Every play can’t work out or be that big win. I am seeing that you will miss out on more then you will nail. FOMO (fear of missing out) is an emotion that us traders have to battle every single day and its brutal!