Daily Report · Stupid Chase

1 step forward, 2 steps back #26

Trades: 3
Accuracy: 33%

 

Screen Shot 2017-08-16 at 10.26.03 pm

NTEC – Float was a bit heavy, did not work so and volume dried up, so got out flat

SBLK – two trades here

  1. First one, got stuck in consolidation, tapped mental stop and got out a tad early. Was obviously emotionally furious when I realised it just went back to previous high
  2. Got emotional, tried to chase it for the HOD break. I got in early because i was too emotional and played a set up I was not fond of. Disappointed in myself here.

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Sad day really. I was having a little bit of FOMO from yesterday. Didn’t trade yesterday as I was a tad bit busy and actually saw some decent set-up form with hindsight. Definitely played into my emotions today.

Trading is tough. Its a slow slow slow grind and it can really get to you at times.

Daily Report · Gap & Go · Stupid Chase

BURRRRRNNNNN! #9

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.

  1. I bought pre-market. NEVER AGAIN FOR A MOMENTUM STOCK
  2. I traded way above my max loss!
  3. I did not cut my losses!
  4. 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:

Screen Shot 2017-06-29 at 10.28.13 pm

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.

Screen Shot 2017-06-29 at 10.29.37 pm

I will be back I promise.

 

Daily Report · Profit & Loss · Stupid Chase · Techincal

Daily Recap #5 – Blood Bath

Today I learned some hard hard lessons.

  1. Momentum in the markets seem to be dead for small caps and low floaters. This means all the trading strategies I had learned over the last couple of months on my paper trading account are now invalid
  2. The higher caps seem to have more potential but they behave a lot differently than the suckers I had gotten used to.
  3. I need to work on my emotions. I respect my stops well but I always trade over my max loss. This will now be at 150 henceforth. If I lose that much I will piss off for the day
  4. This weekend will be a study weekend and hopefully I can learn more about mid to large caps and how to trade them. Figure out some set-ups

 

Screen Shot 2017-06-22 at 10.59.35 pm.png

Tickers: 3
Accuracy: 0%

JUNO – Absolutely dumb short. Tried to do a multi-day resistance with volume (MDRV) but shorted way too low. Got out at my max though with slippage. Need to learn a little more about this set up over the weekend.

MBRX – First red day, no news so tried to short it. Got a good fill at 1.05 but then added to it at .99ish and 0.98ish too aggressively. Stock started forming an ABCD set-up (look up Nathan Michaud on youtube) so I stopped out. Mistake here was to add too quick and too early. Will have a look tomorrow to see how it closed.

ESPR – Was chasing this stock a little. Trend indicated an upward move but got screwed out. It ran up pretty damn high yesterday. Effectively a bad chase and chart was not clean.

 

Conclusion:

STUDY STUDY STUDY this weekend and stick to set-ups I know! I will be back next week stronger. I think tomorrow I will need to take a break.