Nineteenth: Giant Fuck Up

Summary

I got too emotional with my trading today. After my initial loss, I got angry and traded too much. Being tired did not help at all. I realized that I have not been playing the right way and it got to me. I know that if I continue the path I am on, I will fail. So I must steer the ship to the right path. It's the only way to succeed.

I discovered a few things about my trading after talking with VinnyB such as over complicating simple ideas and making stupid judgements. This is something I must fix.

Ticker: FOLD 

I was an idiot and made every mistake in the book with this one. There really is no excuse for this at this point. I just fucked up so bad. I think this was the case because I broke my rule of trading under pressure and not having another energy. I got my emotions get the best of me here and should have stopped after my first big loss from the squeeze.

Note: I made every mistake in the book on this one and ignored all the signs. My emotions got the best of me and I fucked up. This could have been a great trade, but my lack of common sense just fucked me.

Note: If I am going to trade like this, I might as well throw my money in the trash and live in the streets.

Ticker: CORT

I stupidly bought @ $6.00 because I rushed the trade. I got tricked by the volume @ $5.80 and forgot it meant that it could still go higher. I did allow it to test $6.00 at all and was just stupid. After its stunt, it was holding $6.00 so I got out before another run.

Note: I must be more patient and allow the resistance and supports to be tested more thoroughly. Otherwise, I am going in blind without confirmation. I almost got squeezed here because of it. 

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.

Eighteenth: Continued Failure

Summary

Today was miserable. I did not over trade, but still lost because I made stupid mistakes.  I did not set my stop fast enough and almost got squeezed. I let go of my stop for 5 seconds and got squeezed. I traded when I was in no condition for it.

Ticker: RTRX

I did not pay attention to Pre-Market and got completely burned. I was scouting for a bottom, but did not find it. Not only did I fall into a trap, but it was right in front of my nose.

Note: Always pay attention to pre-market to see potential resistance and support. Also know that whole and half-dollar marks are good places for bounces. I was short biased on this and did not look at the big picture. I also did not account the SPY's performance which made this jump. 

Ticker: THRX

I wanted it to break $17.50 and head towards $17, but I should have sold out when it held and made a higher high. It was stupid of me to hold it for so long. I made a mistake towards the end where I took out my stop to do it manually. As I did that, this stock squeezed the fuck out of me.

Note: Do not take out your stop, unless you are 100% sure that you can replace it within 2 seconds. I took it out and it just squeezed completely. I also have to note to always sell on the pullback of the squeeze. There always seem to be one and it may be the best time to get out. 

Note: I missed the big picture again because I was too stubborn to switch my view from short to long. I need to get better at that in order to survive. 

Ticker: ACRX

It's down almost 50% from $8. I thought I would buy all dips on this for a nice bounce.

Of course I fuck up my buy in. I thought it was very strong and could go, but did not notice the volume at all. I BOT @ $4.15 and just decided to wait. I will buy all future dips or weak opens on this chart for a swing.

Note: Even the charts I like, I fuck up. I wanted to swing and should have waited for it to re-test the support. I just thought this thing was going to go and did not even notice the decrease in volume. Fuck me.

Note: Do not play charts you did not scan yourself. Always take a look at pre-market to see if there is a support or resistance. Do not trade if you are tired.

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.

The Seventeenth: Blunder

Summary

I went ahead of myself and made a stupid blunder. I purchased shares when I shouldn't have. I took a long break to refresh myself and before my re-fund was even complete, I decide to fuck it up.This trade was stupid and shouldn't have happened.

Ticker: AEZS

I saw some rumors on twitter on this and thought this might go. It didn't so I just sold.

Note: It was a complete waste of commission and I should never attempt something like this again. 

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.

The Eleventh: Break Needed

Summary

I have come to the realization that some stocks follow the S&P index very closely and that I can used it to my advantage. I may expand on this technique in the future. I have decided to re-fund my SureTrade account for the last time and will be cautious on my positions going forward. If I fail again, I will not pass go and will not collect $200. I need a break to review and understand trading better. I will not play until next week.  

The chart I tried to swing was from Tuesday.

Ticker: CVOL

The S&P has been moving positively, so this stock just gave back all its gains. I got out @ $0.89 because I realized that this stock moved too slow and that the SPY seems to be bouncing. 

Note: Again, some stocks seem to like to follow the market. I will review this strategy and adapt it to my future plays.

Note: I do not feel good about having to re-fund my account. But, it seems like the only way to move forward. 

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.

The Tenth: Stopped Out

Summary 

This is just the daily grind of it all. I really hope to improve from all this and learn my mistakes. So, I just stopped out of everything I tried today except for one. I developed a new strategy for stops and on how to build my small account. I will use my SureTrader account to scout for potential swing and test for breakouts and once it does breakouts, I will go all in with my TDAmeritrade on a sure trade. I am going to be focusing on one play at a time and find the best one. This should help with my analyzing skills and my chart choosing abilities. 

It may already be too late because of the hole I dug myself into, but I will give it a shot and see where it goes. I rather fight to the death than just give up. 

 Ticker: GSS

This is my loser for the week because I bought too much of it with hope. I should have tested it with a smaller portion and I should have noticed the way it was going.

Note: I rushed too fast to buy this thing and I bought too much. If I wanted a position, I should have just either waited for a new pattern, breakout, or just bought in with small size. I was hoping and that got me to lose a lot more than I had to. 

Note: I noticed I wanted to test my patience with my stops, but I cannot use that as an excuse to not sell at a better price when the new pattern was obviously bearish. 

Ticker: TVIX

I bought in TVIX again because it gapped up. I rushed too fast to buy in when I should have waited for a higher low. I thought I noticed a cup and handle pattern, but I should have just waited for it to test the resistance.

Note: Even when I did buy in, I put my stop under $2.12. It did break this, so I think it might be weak. However, with my new stop strategy, I would have been able to survive the drop and sell off at a better price. It is something I will be testing in the upcoming days. 

Note: My new strategy is look to at the prior day's high and put it a cent below that. If I did it here, I would have been fine and I would be able to fight another day. It did hold above $2.12 so this stock could be on its way towards a reversal.

Note: This is an interesting chart to keep an eye out for. If it breaks $2.19 tomorrow, it may be a good buy for swing. I would buy again, but TD would not let me because of the three day settlement rule.

Ticker: CYTX

I purchased even after the huge red warning. However, it did stay above the support, so I just went with the chart. The TD chart did not have the red flag, so I thought it was okay. Even though it did go high, I think it meant that it won't breakout crazily.

Note: If I plan to hold a ticker for the whole day and think that it will close at the highs, I should go for a swing stop. If I plan to watch the chart closely, then adjusting my stop would be okay. My original stop was at $1.26, and I raised it before I left. I knew it was going to close near the highs, so I should have just left it and it would have been fine. My original risk was 3 cents. I could have sold it higher. when I came back. 

Note: The above strategy should work for only clear breakouts. Even if it is a fakeout, I would have lost it anyways so there would be no problems.

Ticker: CVOL

I got this because of its clear breakout of the channel.

Note: This is a low volume chart, but I will probably buy more tomorrow if it makes a new high and holds. This might be the chart I am looking for.

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.

The Nineth: Patience

Summary

I would like to think that everything is coming to plan when XRA stopped out on time. I started here @ $0.52, but was waiting for a bigger move. However, what I did not notice was that it was still in a downtrend. I should have waited for a clear breakout from this trend before buying in. Now I know better so I will be looking for better setups. I think I am close to what I want to achieve. Just have to keep grinding and learning. 

Ticker: XRA 

I got stopped out today @ $0.49. It was a 3 cent risk and the only reason why is because of GOLD prices declining.

Note: I let it run all the way through without being scared. I hope to continue to let charts run its course so I get used to the set risk and reward. 

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.

Too Much Thinking

Missed Opportunity

Ticker: JOB

I was hoping for another squeeze after consolidation.

It went above support with nice volume and it tested support and held. I was thinking of buying with the stop @ low of day.

Note: I was contemplating whether or not this play was worth it compared to the others I had on alert. This was a $1.20 or $1.25 sell and my risk would be under $1 @ $0.99. 

I thought too long and missed the move. I did not want to chase so I let it be.

Note: I hope my for trading becomes automatic in the future so I don't miss these types of plays. I don't think I made a mistake because I know there are better plays out there. I just have to be patient and be on the lookout. I want high returns over time so my TD three day settlement day doesn't get in the way. These plays are out there and I know I can find it.

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.

The Fourth: Another Fakeout

Summary

I should really review my own blog before I trade. I made a mistake purchasing a fakeout even after clear red flags. Shit like this is really going to take me out of the game for good. The only positive to take from this was I had a clear stop and I was patient. Everything else was just reading the chart incorrectly.

Take a look at Breakouts Vs. Fakeouts to see what I mean.

Ticker: GSS

This is the right way to play a swing. Buy early while it is consolidation. Have a clear stop and be patient for the breakout.

Note: Since today was a red day, I should have just set my limit lower and wait for it to get filled. I rushed to buy and bought it a little higher than I should have. 

Note: I think I am more comfortable with these types of stocks because they are nice and steady. When they breakout, they breakout. 

Ticker: TVIX 

I was impatient and bought in because I was reckless. This is not the way to trade. 

Not really a clear breakout, but after the fact. I just wanted to say that it looks like I was chasing here. I should have just told myself that I was chasing and waited for a better entry. $2.02 was a good entry for this stock. Not $2.12.The only way I wouldn't be chasing would be if I was buying on dips and this was really a breakout.

 

So I bought in and ignored the first red flag because I was long biased with this stock. I should have been short because it did hit resistance and it did NOT have a clear breakout. I should have let it test it out further before diving in.

Where did I see this type of move before? Oh right, here. This stock and ZNGA had similar volume and I just fucking ignored it. I must be an idiot for buying in. 

Note: The only positive here was I tested my patience. I should have killed the trader sooner after I recognized the descending triangle. Fuck me though, this was an amateur mistake. Another thing is my risk management got a little better which is good.

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.

Too Patient

Ticker: CERE

I should have bought in when it made a higher low in anticipation for a breakout. I was too late today because I thought it was just testing $0.38 as resistance. When it broke out, I did not want to chase so I let it go. 

I thought it was just testing the resistance today. I already missed out on the break of the smaller channel so I did not want to chase.

I tried to be patient for this chart because it looked like it was consolidating before the breakout. I should have just bought in when the risk was low and been patient with a position. When it broke out, I had no chance and did not want to chase. Next time, I will be ready. 

XRA was a good example of buying in and being patient.  

First: Low Risk

Ticker: XRA

I have been rushing myself before and over traded which put me in the position I am in now. So I decided to tone it down and test my patience. One way to do it is to look for low risk plays and swing. In this chart, I noticed a downwards slope decrease and a small break above it which may signal a reversal. I decided to take this as a signal to go in small with a stop @ $0.49. It is a small risk for a potential reversal. I want it to retest @ $0.53 the base and if it holds, I will increase my position. I will hold this until it tops or breaks new trend.