Learning Day

Sometimes I can be essentially right, but faulty in my trading decisions, and today was a day like that!

My mistake started on Friday when I bought TWM and walked right into a whipsaw.

My second mistake was getting scared and tightening my stops to the point where I got stopped out at the worst part of the day (a gap down in TWM).

Upon reflection, a much better strategy for me would have been to realize that Fridays low which only reached about the mid point in the slow stochastics was not "the" low that would have been reflected in a true oversold signal. Essentially I let my emotions take me out of the trade based on stochastic "noise". I got myself stopped out in market chop which always makes me feel like a dumbass.

I maybe could get back into TWM on further weakness, but I think instead I might hold off until I get back into town next week.