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Thursday, September 17, 2015

Seventeenth: More Fuckery

Summary

Another blown up account by another miserable trading day. It seems like the best thing to do is not touch another trade until I get more money. It's time to find a job so I can blow it up again later. I will still be updating this blog but probably less frequently until I can figure out how to trade correctly. 

Ticker: AERI
The overall chart. I thought it would consolidate and go lower. However, it seems I was just fighting the trend stupidly.
 
I was calculating that it would consolidate and head lower. However, it just reclaimed and went higher.

Note: I am stupid to just assume anything. I am blinded by what is in front of me. If, the chart is consolidating higher, why the fuck would I go against that?

See something I did wrong today? Let me know by commenting below. 

Thursday, September 10, 2015

Tenth: Fucked Up

Summary

I fucked up today and there is no excuse for it. I traded like shit and got what I deserved. I am not sure where to go from here. My equity is dwindling to nothing now and I am basically back to square one.

Ticker:  SIGM
 
The overall chart. 


The first add was because of the first 2 minute higher high. However, the chart quickly washed out and I needed to get out. The second add was because of the higher high again, but I got scared out of the position because my stop was too tight. I am glad I got sold out at $9.25 and used my lesson from yesterday to guide this trade. That lesson was to treat positions that go against the overall trend as scalps.

Note: This was a trade where I could have scaled in and anticipated the the long. However, I did not think of that and got scared out off my position a few times. I need to be aware of this scaling in situations.

Ticker: SGMO 

The overall chart.
 
I played the frontside of the move and got fucked. I did it because of the double top and lower lows. However, it just reclaimed and went straight up. I shit the bed on this one.

Note: I shit the bed and broke my rules on this trade. I was impatient with this chart and wanted to get in at a good entry. This led me to trade erratically with no risk in mind. I tried to scale in and did not realize that this was just a dip before another leg up.

Note: I have to realize that there are plenty of opportunities in these kinds of stocks and not to break my rules to try to get the best entry. The best entry for my account would be to wait until the backside of the move. If, I waited, I still would have had a nice trade.

Ticker: AKBA

Emotional trading kills. I meany stop, not stock.
Note: This was an emotional trade. This is a stock I should have never played because of its low volume in the afternoon. The morning would have been okay, but this was just bad on my part.  

Note: I cannot trade if I don't get enough sleep. Waking up at 9:00am to trade is not right. I must be ready for the day with my homework done. No homework, no play.  

See something I did wrong today? Let me know by commenting below. 

Wednesday, September 9, 2015

Ninth: Overtrade

Summary

I need to stay calm and stick to my plan when I am in a play. The moment I don't, I will lose.  

Ticker: AKBA
How the chart worked today.

Note: I noticed that wherever a chart a trending. Going against the overall trend should be played as scalps, so I should have played safe when I did go long.

Note: Whenever there is a big flush from a failed follow through usually means that the chart will continue going its trend


How I played it. Like an idiot.


Note: I need to play with the overall trend for the big moves. Playing against it would just be for scalps. I sold out too late because I was looking for a $12.50 push towards $12.60. If I realized that this chart was bearish for the day, I should have got out at $12.50.

Note: I need to stop being scared and more confident with my trades. I must trying to play for money if I am red for the day. I must stop overtrading and getting killed on commissions. 
 
See something I did wrong today? Let me know by commenting below. 

Tuesday, September 8, 2015

Eighth: No Words

Summary

Nothing really to say today. There was a positive trade and I just have to keep it up.

Ticker: NSPH

Here is the five minute chart to see an overview of the trade for the day.

Here are my trades.
Note: I traded scared and this must stop. If a chart is working in my favor, I should be confident enough to add in. I must be able to think more clearly or I will miss other opportunities. 

Note: Give the chart more time to work out. 

Know what I am doing wrong? Please let me know by commenting below. 

Friday, September 4, 2015

Fourth: Beginner's Failure

Summary

I played the chart incorrectly and paid the price. I cannot risk much since I lost all my money so I try to compensate by putting a tighter stop. If I must do this to play, I shouldn't play at all. I have to go with a plan where I have the best chance of success. Otherwise, I will fail.

Ticker: MEI

Both ways would have worked fine. I was just looking out for which way it would go today.

My stop was too tight and I got stopped out before the chart worked. 
 Note: Play the right stop or don't play at all.

Ticker: BGS

This could go both ways. Just gotta look intraday to see what it wants to do.

I missed the morning flush and it reclaimed support perfectly. I was looking for a lower high and to anticipate another wash. It did not happen.
Note: If a stock reclaims with conviction, it is still front side and I should not touch until it hits backside. 

Note: I should be focusing on stocks that have more volume like KBIO. Today was a fuckup. 

 Found out what I am doing wrong? Please let me know by posting a comment below.