Me on Monday. I had a streak of 4 weeks of GREEN days and fell flat on my face on Monday. So, what went wrong? Pretty simple explanation:
I IGNORED MY RULES.
Silly, really. Two big rules that, when ignored, will slap you upside the head every time a trader tries to think they are better than them.
- Fighting trend above VWAP
- Starting said position with too big of size
While it definitely didn’t make my day, I walked away from my computer ok with a little humbling. I know that it is extremely rare for traders to be green every day and knowing that, I am very proud of my performance in the past month. Additionally, I think this was a good little slap to make sure I am not becoming complacent.
“Comfort breeds Complacency”
Happy to say I bounced back in a major way on Tuesday and had a killer day today with VRTX. What a fade! I started in on this in pre-market and stayed until 3pm. Unreal $10/share! Really happy with how I traded this one. I was adding/taking profits….snoozing because this bled the slowest I have ever seen. Really wanted to see massive panic for whatever reason…but I am not going to complain over this move. It is high on my watchlist tomorrow morning, I hope it opens slightly higher for a continued fade, ideally with some panic this go around.