Today was a great day! We were up over 100% of our daily profit target premarket. I bought the dip in $APDN twice. The first one was great! It came off of news of an offering, and had an immediate bounce. The second trade was clear that $APDN wasn’t playing any longer. I took what I could and got out of the way. We also traded $SINT. To put this day in perspective, I have been sick for a couple of days, getting no sleep. I really should’ve had the caution flag out today. That’s when it happened. There was a beautiful RIPPER up over 100%, $NSYS. I decided to take a bit on a pullback. $NSYS quickly brought me into profit. It then failed to hold the highs at the break of resistance and accelerated down from $7.41 to $5.24. I sold at $4.98 “hoping” for a bounce. I could’ve cut this off much sooner! Instead, I’m closing at a loss that took back nearly 2 days of profits. I’m closing with -290% of my max risk.

I knew a loss would catch me sooner or later. Now I will go through the time and sales, and meditate on cutting these types of losses much quicker. Lesson: Don’t trade sick or under-prepared.

Don’t forget to check out the Trade Ideas test drive, going on now!