Crazy day. Had a "near death" experience with DNDN today. Got in at 24.63 and sold it for .01 loss..because I felt it took too long to retest new highs. I had had no idea that 5 minutes after i got out..this thing just crashed to as low as $7 then settled at $8ish before getting halted..Never waitnessed anything like that before. So somehow my impatience with the trade saved my ass today.
Othewise, i just sat in my hands and been patient and let the overall market picture work its way out. Just been too much choppiness overall. The market overall is in congestion mode, lots of indecision. It is important to recognize that my edge is not in the current situation. Either you sit tight, or you trade with smaller size for scalp trades. I don't have the commission structure for tight scalps, so I tend to stay away until a bigger direction is clear.
That being said, the only other trade i made today was GERN. Thought it would break out, so I entered a small position to anticipate. But again, I recognized that that wasn't the way I trade. So I got out for a cent loss. My edge is in getting in right at the break out and ride the momentum as it happens. This wasn't it, so I got out after recognizing I wasn't focused on my strategy - get in as it breaks out, not before.
Anyway, April has been a mentally unstable month for me as I have had alot of issues/project deadlines to get through. Hopefully, May will bring freer time for me to commit to trading.
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