Tuesday Wrapup (12/8) - $755 loss

To say today was sloppy would be an understatement.  I was out of sync from the get go and am lucky I only lost $755.  You name it I did it.  Missed setups.  Moved stops.  Adding to losing positions.  Getting stopped out on the high tick. It was so bad that on two of my sequences this afternoon where one setup morphed into another with multiple adds, I couldn't even figure out what my max drawdown and favorable excursion were.  I only knew that I broken even ultimately on the trade.  Now that's bad.

For starters I only got about 5 hrs of sleep last night (and maybe 6 the night before).  And for high frequency day trading that's just not enough.  

Days like today have killed me in the past and I know better, yet I continue to repeat them over and over. Maybe my trading terminal shouldn't load if I've clocked less than 7 hrs of sleep?

Going to get in bed early tonight and get ready for tomorrow.  Should have an interesting matchup between the bulls and bears.

Early AM Trading Notes:

Good thing I slept in this morning.  Would already be 0 for 2, instead of 0 for 1 with a small loss, on this young day.  Better lucky than good I guess. 

First trade of the day was a countertrend fade as we slashed through 1100 on high volume around 6:30AM. Typically this high volume means we should see at least some temporary buying.  Because the risk on this trade was larger than normal I only traded 2 contracts.  Smart decision.  Lost $175 as we continued lower after maybe moving 1 tick in my favor.

Ugg, was stalking a short entry around 7:30AM, but was waiting for another 1-2 ticks, and missed an easy entry totally.  

Wow, today isn't starting off too well.  Took a nice short entry around 7:30.  First tgt was hit easily, moved stop down and watched. Was up as much as $350 before being stopped out for a $50 loss.  What's worse, immediately after hitting my stop, the market reversed and would've easily hit all my targets within a few mins.  One thing I didn't consider was the fact that I was selling the 3rd pullback of this move and buyers were bound to come in at some point.

Fugg! Luckily I'm only down $225 and I have at least been honoring my stops!