6/9/15

Only had one scalp today for a small gain on $AXN. It could have been a decent trade, but I was not patient with it at all. The stock hit a high of 3.75 during after market hours yesterday and today during premarket it made its run to 4 then quickly dropped back down. It ended up opening at 3.35. I shorted at 3.10 once I saw it failed to break above the VWAP. This time I used a hard stop at 3.20 because last week I got caught in some plays (like $VLTC) where I didnt respect my stops and ended up losing .20-.30 cents more than I was supposed to. Anyways, I covered half of my position at 3 to lock in some gains and I originally planned to let the rest run but I got impatient and took the rest off at 2.96. Had I stuck to my plan and let the remaining 500 shares run with a stop at 3.20 I would have been able to catch an extra .30-.40 cent move once support at 2.83 was broken, With the 500 share position I had left it equals out to an extra $150-$200 that I missed out on because I was impatient!