8th, 10th: Don't Fight Trend

Summary

I have a big problem on my hands and that is not following trend. If a stock is grinding higher, then it will probably want to go higher. I can't make assumptions of it wanting to go lower unless it does it. Today, I fucked up big time because I flipped my position.

Everything was pointing up and I was ready to go long. When the bars were forming, I just had a glimpse of a perfect scenario and then everything switched. I blinded myself by wanting to see something that wasn't there.

I fought the trend and lost. 

Ticker: SPWR (02/08/16)

Played it okay.

Note: Need to be on the lookout for the bigger picture. As you can see, it worked the rest of the day.

Ticker: SCTY

 

The daily looked okay for quick pop and fade, wash and recovery, or grind and recovery.

Note: When trend held, I was looking to long it in the beginning, but it moved very slow.

It dipped and held a higher low compared to pre-market. Then it grinded up and broke out. My initial idea was to long, but then something came over my head at 11:00 which made me think it would be a short. I should have known better than to fight a trend though.

Note: I thought the grind was slowing down and beginning to turn at 10:55 when I was looking for the long. Then I just decided to switch my bias to short. The problem here is was that the longs won the 10:55 bar.

Note: Some psychology here is what would I do if I were in certain points of this trend. In the morning, there was a gap down and the initial pop was a sell off for those who wanted to get out. As soon as it held the higher low, as a new investor, I would not be scared unless it went below $18.20.  There was no lower low at any point so I would have been okay with it grinding. 

Note: DON'T FIGHT THE TREND! 

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