Piss Poor Trades #4

The Road 

I made a series of disastrous trades that have led me to a dark path. I didn't report them because I just felt ashamed of these trades. I tried to do an internal review, but I realized that's just half-assed and isn't good enough. I must post a full review so I UNDERSTAND what I did wrong and to never do it again. These are career ending trades.

There are times when traders lose big and it is how they bounce back that shows whether they have improved. It is now my time to see if I can really make it in this business. 

My Problems

Problem #1: I missed many trades and I grew angry how I keep missing them. This is because I am unprepared in the morning when I have my morning charts set on 15m instead of 1m or 2m. This is because I am unprepared by scanning charts instead of planning for the trade.

Solution: I have to realize that this is my business. I must be a professional.

Problem #2: I have played charts with no edge and enter them at the worst times. I have no plans on some of my trades. This is because I've grown impatient and desperate. I know I am running out of time and am forcing trades.

Solution: The market is a bitch and I should treat it as such. I must be a professional.

Problem #3: My execution has become sloppy. I exit a stock even when I am winning. This is because I do not believe in myself and get scared when the markets move one way or another. I have become scared of the price movement.

Solution: I will believe in myself from now on even if I am wrong. I must be a professional.

Problem #4: I have become angry, frustrated, and play too much size.

Solution: I must chill and take one trade at a time. I must be a professional.

Ticker: GBSN

I should recognize the situation that this was not an unexpected parabolic move and the consolidation would take much longer to form.

Note: I must be focused on my trades and make sure all my tools are in working order.
Note: I should not play the a rebound off a non-parabolic stock after a huge flush.  
Note: I should not short randomly especially towards power hour. 

Ticker: LSTR

I should have recognized the recovery and the pattern and stayed away from the short.

Note: I should be away during these times or at least more focused. I should not be fucking around during trading.

 

Ticker: RPTP

Just a random trade from an unexpected parabolic.

Note: I gotta take a step back and understand the full picture. This was towards the end of the day and power "fucking" hour. I should not be fucking shorting because there was no more time.

Ticker: MOMO

These trades were a disgrace.

Note: There was no volume and no trend. I should have stayed fucking away. I did even worse because I shorted on weakness and covered tops!  

Note: If I have to hope for something in the market, then I already lost!

Ticker: VZ

Random trade on fucking Verizon

Note: If I traded this, then I know I am fucking desperate. There was no trade here at this fucking time. At this point, it was my emotions controlling me.

Ticker: UA

I need to recognize this pattern quick cause it fooled me so many times.

Note: I should not be scared of price movement and be objective when I exit a trade. There was no reason to sell that early because it didn't even test $44 which I wanted it to.

Note: The second trade didn't even breakout when I bought it. Another sign of desperation.

Ticker: SRPT

I shorted on weakness and was stubborn.

 Note: I must follow my plan or else I will just be giving money away.

Ticker: VSLR 

If I have a plan for my risk when I leave, I should also have a plan for my potential profit.

Note: I shouldn't be leaving when I have a lot of size in play. I should have a plan for if it succeeds when I leave. At least get out partial if it does what I want.

Lesson #1: SHORT POPS; BUY DIPS!
Lesson #2: DON'T PLAY TOO MUCH SIZE!
Lesson #3: DON'T ADD IN UNLESS YOU ARE WINNING!
Lesson #4: IT'S OKAY TO LEAVE EVEN IF YOU LOSE!
Lesson #5: UNDERSTAND THE BIGGER PICTURE!
Lesson #6: FOLLOW MY OWN FUCKING ADVICE!

Notice a mistake? Let me know below!