My mind was in a much better shape today than all of last week. My mind had a sense of renewal, after re-reading the disciplined trader by Douglas on the weekend.
Again, the main thing I focused on today was Discipline, mental calmness, and patience. With those things in mind, I was able to profit on the strategy I had planned out: Trading the hype of swine.
There were several swine related stocks on my radar, and I concentrated on 2 of them: BCRX & FEED. I was able to wait patiently for a pull back in BCRX and traded a morning bounce (bought 4.13 sold 4.25ish). FEED was affected negatively by swine, because it was a company that supplied food to the hog industry in China. FEED has had a really explosive and nice run on daily. I was sure that someone may be using this weakness to add to their position. I took advantage of this and traded the partial gap fill (bought 3.41 sold 3.57).
Those were my only and winning trades for the day because I wanted to restart things slow..and I really don't have an edge (as experienced throughout last week) in this range bound market. Too much whipsaw and indecision. Sometimes, it's better to stay out than being in something wishing you were never involved.
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