Today I sincerely feel like the biggest idiot. Every other trader probably made money today but only a clown like me could lose like that.
I made all the worst mistakes a trader could make. I broke all my rules.
- I bought pre-market. NEVER AGAIN FOR A MOMENTUM STOCK
- I traded way above my max loss!
- I did not cut my losses!
- I revenge traded like a bitch! My emotions got the best of me. I was not thinking straight at all.
New Rules and lessons learnt:
1. Never buy pre-market for momentum plays
2. I caught myself being short into an upward circuit breaker halt. Imagine that feeling. I will focus on momentum trading for now. Get back to what I know and stop trying new things in a market where momentum is picking up. NO MORE SHORTING FOR A MONTH. SELF IMPOSED SSR. (I’m going to study the short set-ups thoroughly first)
3. Stick to my god damn max fucking loss. Wow I really am disappointed in myself today.
4. Trade small size!
Now for what I am terribly ashamed of showing:
Also as a reminder of my stupid-ness below is the chart of my entries and exits. This is going to be my computer wallpaper for a while to remind myself not to be a clown.
I will be back I promise.