Welcome back Traders I hope you all had a good weekend! This morning around 4:10AM I started to trade the market. I found ECOR on my premarket scanner and it was screaming to be shorted….lol, so I DID! Overall the trade wasn’t too bad, however, there were some mistakes I made in this one.
The first thing that made this trade a little difficult was that I went too aggressive to early! I ended up with 900 shares short with an average price of $3.60. Not a bad price looking back now, but the trade went against my position over $.40 cents……yikes. While I was holding through the pain (sit and sweat as I call it) I was able to reel in my anxiety. I held strong and patiently until the stock price dropped back below my entry price.
Todays Profit was $162 added to the account on The Road To 25K!!!! My focus for the next trading day will be a little more reservation in averaging in. I need to take it a little slow and be methodically aggressive and not allow my frustration of being under the PDT drive my trading decisions. Things like that take you away from what you are doing right!!!
Happy Trading you all!