Tenth: A Long Road

Summary

My confidence in trading has been growing these past few days even though I am still losing. It's a long road, but I think I have been taking small steps in the right direction. 

I must stick to the process and I think I will be okay. 

Ticker: WTW

I was confused between swing and short. I need to get better at differentiating these trades if I want to get better. I got a lot of work to do. 

So my initial thought was a swing because this had heavy short interest and could potentially squeeze the shorts. I missed the initial move before the $8.00 break and still went in for a bigger risk.

Note: I missed the swing trade plan. This is where I should have just stopped and waited, 

So I BOT @ $8.13 because it broke a small descending triangle, but I did not notice that the break was weak. This thing channeled for a bit before it fell completely. 

Note: I should have noticed that the volume was weak when it did break out. I should have waited to see what happened afterwards. The channel that formed was just a weak sign of continuation for the descending triangle. 

Note: The overall trade was bad because I wanted to swing it in the first place. My entry was too risky for a swing stop so I sold with an intraday stop. I need to work on swing and day trade ideas. 

Note: If I miss an initial entry for a swing and the continuation looks weak, I should be more patient for a better position before entering a trade. 

Ticker: RXII

So this chart broke out @ $0.78. I bought some @ $0.798 and my target is @ $0.88.

Note: This is just a potential breakout chart. Broke out of a channel and looks ready to go. 

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.