Insight into my recent give-backs and rebounds

This morning I had a beautiful huge up morning, really quickly. Determined not to make a dent in it, I quit. Done! Charts below. Week closes at an account all time high.

I have been pondering what has made me punch myself in the face like I did a few days this week. I think it's euphoria. A feeling of invincibility. The opening trades were clicking so well, that I thought I could just keep drawing water from that same well. 

But the climate changes after that opening volatility. Prefer to do like today, and leave it at that, without meddling in the morning's produce.

I think if I wanted to go back in, after big opening moves, I should wait at least an hour for all new setups. Consolidation. Bases. Maybe turn on bollinger bands. Maybe wait for stochastics to run to extremes and/or align on multiple timeframes. 

Baruch Hashem, I had an overwhelmingly profitable week this week even despite some destructive midday trading some of the days this week. 

The up days are stellar. See how I left a lot on the table today. When it's "my" day, I need to press. When it's not, I need to lay low. HOW TO DIFFERENTIATE??! Maybe I just do my thing, get.my piece and peace. But WFC... bummer, but I identified I was scared, and I did the right thing...reduce.

Peace.

A stellar day!

The market this morning was so HOT! I was up like crazy in the first few minutes. Chopped after that. Stabbed in/out too much again, but less so. For a little while I was enticed by the big position greed problem, but I reigned myself in today and did very well with it.

My worst trade was RMO... adding to a loser problem... in way otm tomorrow expiration. I lost 50% on that. Exemplifies all the worst trading sins: adding down, illiquid option, too far otm for too unlikely a move.

Thankfully a few gigantic winners to overwhelm that one.

Fortunes made and lost

Today I made and lost about $1000 4 times through big positions, market gyrations and GREED. Can you imagine if I would have kept maybe $3000 today? Realistically, I would have make $1000 and walked away happy vs frustrated.

Instead I just kept looking for the one that would get me back. And then I would squander it again. Red day.

Be aware of GREED!!

Surge day

Very profitable but not easy to trade day today. Not exactly clockwork, in that I traded bigger size than usual. When it works, it seems "smart" but when it doesn't work, it really burns!

Took home DOCU lottos. Already extended on 1 min, but the daily bar just broke above resistance near the close. 

flushed it again

I'm having this problem of trying to trade out of my wheelhouse. 

I HAVE A SPECIALTY!

My specialty is to trade gaps out of consolidations... at the open, where the volatility is. I trade like clockwork: small size, tight stop is the right stop, pay myself first.

Listen up, self! Stick to my best trading skills. Don't trade later in the day and flush it away. I don't even have a method for screening for mid-day trades. Anything I do is unstructured and unproductive. 

Stick to my best.

Monday glitches

Lessons from the past few weeks... dramatic opens and the trading platform/s and/or trading servers can't handle it. Avoid big plays on the open.

Today, open down after hot surge up last week. Setups are reversals off launches vs breakouts/down, so I need to wait anyway.