Day Trading Video 1-8-08

The below day trading video is from my Quintana Maritime Limited (QMAR) short trade. I sold short 1,000 shares of QMAR at $24.50. Well this was clearly the wrong move. The stock initially acted properly and fell down to $24.36. But the stock quickly began to slow up on the tape and reverse higher. I actually had this gut felling to close the trade and get long. But I hesitated, which cost me dearly. The stock not only reversed but it got above the $24.61 high, which was my stop level, and yet I did nothing. Not only did I not cover my short and go long, I just sat there like a pig waiting to be slaughtered. Then QMAR began to make a 7% up move in a matter of 5 seconds. Needless to say, I will make sure that I trust my trading instinct more. The painful thing about this trade, is that it was able to wipe away over 90% of my trading profits for the month. While this trade hurts and it is my biggest loser to date, I was able to learn a valuable lesson, which will prove critical when I begin to trade 3,000 shares. I hope you enjoy the trading video.