The Eighteenth: Slow And Steady

Summary

I felt more focused today and was able to actually make okay trades. I still lost because of my initial entries and blunders, but it is much better than how I did last week. Hopefully more days like these are to come and I can finally start building my account. 

Just like my stupid mistake, I entered a limit instead of stop-limit which costed me commission and a good entry price. I seriously need to double check every time before I make a trade. I need to get used to just having it right.

Ticker: GENE

I was happy to say that I was using multiple time frames for this chart, but I did not focus enough. I was looking for a bounce and after the first higher high and higher low, I dove in. Unfortunately, at this time, I did not pay attention to the 1 minute chart which could have saved me a lot of headache.

My charts looked a little different live because I was using TD Architect, but I was not paying attention. I should have known that my buy in was still a pop for the overall downtrend. The 15 minute chart made it seem like it would bounce from here. Both of the information combined helps tremendously, but I need to use them better to be more effective.

Note: I liked how I used the 15 minute, 5 minute, and 1 minute charts to help determine where the bounce was. I was primarily using the 15 minute because it seemed like this chart would take a bit longer to find a bottom. Half and whole dollar marks help, but I still need to focus to see similar patterns to be sure that my bounce is not just a pop.

Note: I liked how I got out quickly once I realized it was a mistake. I then was patient and made back some of the money by noticing a lower high @ $9.12. I am happy that I did not over trade this stock.  

Ticker: FMD

I got in for a swing short @ $5.32. However, I was stupid and sold out by setting the wrong order. I then re-shorted @ $5.27. My stop is @ $5.33 for this one.

Note: If I am going to keep putting in the wrong orders, I should stop trading. This is ridiculous because it is a novice mistake.

Please let me know if you have any comments or opinions. I would like to know if you have spotted any mistakes in my logic.