Thirty First: The End

Summary

 -0.84 a share

Fucking Yes! The market's finally starting to heed my call. 

I am losing and I can't get enough of it!

Ticker: LEI

My mind blinded me on the first consolidation for the long. I wasn't following my rules when I shorted.

Note: My eyes are so fucking blind that I missed the first consolidation. I should really pull my eyes out and donate them to someone who really deserves it. I deserve to be fucking blind.

Note: First, I entered this stock poorly. I should have waited for it to actually peak $8 instead of getting in when it goes above $8. I need to feel out what happens after it passes it and holds. If it feels like a small cover, then it usually is. If it holds, then it usually means it reclaimed. 

 

As the price falls, there is low interest so it was bound to come back.

Note: It takes 5 seconds to switch a chart and this is what I missed. WHY THE FUCK AM I SO LAZY TO SWITCH A CHART? WHY THE FUCK AM I SO SCARED OF MISSING OUT? WHAT THE FUCK IS GOING ON?

WHY THE FUCK AM I SO FUCKED UP? TELL ME BELOW and I will give you what's left of my Suretrader account. The money is probably in better hands with you than mine. 

Twenty Ninth: Wishful Thinking

Summary

My dream of losing it all is coming true. I just wish the market can take my money fucking faster and toss me in a ditch.

I've come to a point where I want to lose so badly that I am making shit up to lose.

 Ticker: TGI 

A chart that looked like it hit resistance. But it's beaten up so bad, I shouldn't have even thought of a short.

Note: No shorts to be seen here.

My mind seems to be making shit up here with not confirming with any other data.

Note: Since I was short bias for some reason, I just drew up some random shit with no confirmation.

What it really looked like.

Confirmation for the truth. 

Note: This is what I get for not looking at other time frames.

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.

Fourteenth: Missed Opportunity

Summary

I failed to execute on something I caught. 

 Ticker: AKBA

The daily looked decent for either a parabolic or a washout. I wasn't sure what to look for, so I waited for a setup to form.

Point of interest #1: It is interesting to see what happened after this point. In the case of AKBA, it got rejected towards the pre-market highs. 

Missed the opening move for a long and missed both stuffs.

Note: I need to keep my eye open and execute as I see these things happening. I take notes either after the trade or before the market opens. Not during the trade! 

Note: A reason why I might have not taken it is because the risk would have to be towards $11.84. However, when I was writing down my notes, I put the stop at $11.50+ which might have been too tight. This could have been a place I started small.

The Plan:

Descending triangle forming on AKBA. Looking for a good entry.

Short: 11.35
Risk: 11.50 (15 cent)
Target:  11.00 ( 35 cent)

about 2:1

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.

Eleventh: Kill Me

Summary

Today, I fucked up by not listening to my gut. I fucked up by not following my rules. I fucked up by acting too emotional. All these put together have left me in a state of depression. I used to think that I needed more time, but now I think it's something different. I trained my brain to lose. My win rate since the beginning of December has been 12% which means I only won one out of my eight trades. Maybe all this is a sign that I was made to lose so others can win. Maybe I subconsciously like to lose because it sure looks that way. I am hesitant on low risk winning trades and constantly take trades that are high risk and low reward. 

I think I am going to switch my strategy to actively look for ways to lose. I don't want to win anymore. Hey market, come and wipe out my $1500 account. Come and fucking kill me while you're at it. I don't give a fuck anymore.  

Ticker: FNSR

A beautiful setup.

Note: How perfect can this be? A gap up above all the resistance and clear skies above. 

The opportunity I missed.

Note: After writing this, I think I figured out what was wrong with me. I am scared of being wrong and I must admit it to get better. If I don't admit this, I will never get better.

Note: I need to realize that it is okay to be wrong. 

I tried to play the continuation, but it didn't work.

Note: I am happy how I didn't stick around as soon as I saw the stuff. This is the type of improvement I have been looking for.  

Ticker: UDF

After its lows, the chart came back and I was anticipating a long. This play was a fuck up.

Note: There was no point in time that this trade was viable. I was a fucking idiot for considering this without referring to other time frames.

The other time frame

 Note: Again, I must investigate other time frames to see if the trade is worth it.

Ticker: MNGA

I got in for the lower high, but it went higher.

Note:This chart just didn't work. Perhaps I could have been a little more patient to see if it confirms. 

Ticker: GLW

I ran out of patience.

Note: I ran out of patience and took the profit. The two plays here were to set stop higher and be patient or to grab the profit. Since it was 14:30-15:30, I wanted to grab the profit.

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.

Tenth: History Lesson

Summary

Based on my previous experience, I have stuck to the notion that anything can happen in the markets. With this, I have forgotten a lesson that history tends to repeat itself. So even though anything could happen, I need to remember that there is a greater chance that something will happen again if it happened before. That's the whole game we are playing; we are betting on setups that have worked in the past. It's the only edge we got. 

Ticker: KMI

 

I was a fool for not looking at the past.

Note: It was VinnyB who alerted me to the history of this chart and I noted that it could have been a good short given the history. However, my long bias got to me after I couldn't resist how good the daily and intraday chart looked.

How the chart looked in the daily. I think I would have preferred a higher gap up to play the breakout.

Note: The daily looked good so I immediately had a long biased for this stock. 

Point of interest #1: This is an area I should be watching intraday to see what happens. 

I fucked up my entry initially because I was stupid. I missed the ascending triangle and tried to get in on the dip. My add was decent, but the chart just didn't work. I should have bailed as soon as it started forming a descending triangle. I say this based on the previous history of the chart.

Note: I could have been more active with this chart and got out earlier. However, since I was long biased, I was hoping for a saucer pattern. I haven't seen a saucer pattern in this market in a long time, so that is how bad my bias got.

Note: I expected the dip under $17.20 after seeing it so many times before. As long as it defended and bounced back, I was okay.

A more macro view of the chart.

Note: The first point of interest, $17.35,  got stuffed which meant it was weak. However, it got passed it later on.

Point of interest #2: Anything lower than this price, the setup is broken. 

Note: Notice how the volume grew a little higher, but the bar was lower high. This was the signal to GTFO.

Ticker: SWHC

 

This chart was begging for a retrace.

I got burned because I did not calculate the risk vs. reward on this trade. This was a low risk no reward type of chart. I should have waited for more of a parabolic. This type of setup works better, if the setup was a descending triangle.

Note: I should be waiting for better opportunities.

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.

Ninth: Didn't Work

Summary 

I gave the setup a shot and it just didn't work.

Ticker: SUNE

The daily chart was nicely set. This gap could have been very nice if it continued because it also broke the previous resistance @ $4.25.

Note: Take a look at point of interest #1. It is not necessarily a point where I must take my profits, but I think it is a point where I must pay attention. I must see what happens intraday once it reaches this point. 

Note: If point of interest #1 acts weak, then it is a good place to take profits. If, it is strong, then I let the play run. 

I got in @ $4.20 because it broke $4.19 and it kind of looked like a small ABCD with a potential to have a daily breakout as well. I had no real target, so I didn't really know what to look for to get out. I didn't know if the breakout was good or not so I just let it ride. This is the wrong way to do it and just shows why being prepared is so crucial.

Note: If I had point of interest #1 in mind, there is a good chance I would have gotten out. Since, I wasn't paying attention, I didn't see what I needed to see. 

Note: Point of interest #2 was something VinnyB pointed out. This should have been the real support or risk. I seem to have forgotten some of these important concepts. I need to think about adjusting my strategies to trade better.

I think it's time to review.  

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

Fourth: Decent Play

Summary

I played this decently.

Ticker: LIVE

 

I saw the ABCD/ascending triangle setup and went in. Risked towards $2.

Note: I just took the money and ran because I didn't have much confidence to stay in it. Hopefully this small win gives me more confidence in the future.

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

Third: Same Old Shit

Summary 

New account, same shit.

Ticker: ZFGN

I thought I had something.

Turns out I didn't.

Note: I gotta keep pushing and keep learning if I am going to make the right calls. 

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

My Trading Journey Thus Far

My $2500 account I started in June dwindled to nothing in three short months. I didn't stand a chance. Thus I took a long break to grind up a new account. In the process, I realized I was earning $6 an hour instead of losing $100 in a few minutes which was refreshing. I started to lose interest in trading because I never won. I earned more money busting ass for a few months than the whole two years I traded. Knowing that, I thought I was just a shit trader and no amount of studying would get me to a level where I could make at least $10 a day. I always lost money trading and it was so fucking irritating.

When I made more than enough to refill my account,  I didn't even know if I wanted to to add it into my account. I didn't know if I even wanted to trade anymore. I grew tired, scared, and directionless.

Then I was reminded that I had a choice to make. I have a choice of doing things on my own terms or I could waste 2 more years of my life at some place that sucks my soul dry and takes at least $20,000 from me. My time is limited and I have to run towards the light before it's too late.

I refilled my account with $1500. Let's see what I'm made of.

Thirteenth: Just No

Summary

Not a good day for me as I fuck up yet another trade. 

Ticker: SUNE

How the chart looked on the daily. Unfortunately, I missed the break of the consolidation to the downside.

How I played it.

 Note: It looked like it would breakout, so I just got in.

What I missed.

Note: Going short wouldn't have been a bad idea and I could have went long after it based a few times and made higher highs. 

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

Fourth: Forgetting Steps

Summary

I seem to be forgetting things now. Must be because I am getting older and my memory seems to be fading. However, I can't be forgetting the basics or else I will be in real trouble. 

Ticker: FIVN

This was an easy play, but I went hard mode with it by using the 1 minute chart. I did not take advantage of the multiple timeframes for this ticker. I also jumped the gun early without letting it retest $5.75. Just bad shit on my part.

This is how I should have played it. Nice and easy...

Note: I can't be forgetting to check other time frames. I must be patient with the chart and allow it to do what it needs before I jump in completely. 

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

Anything Can Happen

Summary

Today I told myself that some stocks can't go much higher or lower and it kept me away from an easy trade. The truth is that I really don't know what will happen and it shouldn't matter because anything can happen. It's a bad habit because ANYTHING CAN HAPPEN in these markets. Having expectations blinds my thinking and hides the truths of the charts from me.

The chart today was actually okay because the risk and reward was good, but my expectations blinded me from the truth. I have to stop with these expectations and open my mind to the thinking that ANYTHING CAN HAPPEN. 

Ticker: VTL

The idea was for a consolidation and a swing. Thinking about this, I did not want it to go higher today. However, it did and I did not adjust my game plan. The result of that was missing out on a daytrade winner.

Note: I had mixed ideas for this chart and it confused me. My initial idea required today to be a slower day and for some sort of consolidation next week. This affected my thinking by making me hope for just that. If it didn't, then it would have been a good daytrade. When it went higher, the slow day idea just made me thinking it wasn't worth it and the rest is history. 

How did something so simple turn so complicated? It was a break of a flag on the 2 minute and a break of a previous high on the daily. Gold was handed to me and for some reason I threw it into the ocean.

Note: I had a powerful setup in my hand, but I just threw it in the toilet. My swing idea definitely fucked with me.

Note: I have to stop with these expectations and think straight.

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

Piss Poor Trades #3

Death

Since my last loss, I found a job to fund my next account and decided to trade less because my account is so low. This isn't enough and it shows in my recent trading. I have not been practicing and have been forgetting important concepts. The game seems to be over and I feel like shit. However, it doesn't mean I quit. It just means that I gotta go over old material and review. 

Ticker: XOMA

Date: 10/01/15

The Daily Chart. 

I went long after a higher low. It did not work.

Lesson #1: I did not pay attention to the resistance and how it peaked there the first time. I should be more aware of the surroundings so I can find better signals to short or long. 

Ticker: FOLD

Date: 10/02/15

The five minute chart would have been perfect. I just didn't look, like an idiot.

I wanted to long, but then I saw a few bars that looked weak. Once I saw these bars, I just thought shorting was the way to go. Boy was I wrong because the main setup was for a long. This is something I thought I was good at, but I guess not.

Lesson #1: I seem to have forgotten the setups. 

Lesson #2: My bias seems to have come back. STOP IT

Lesson #3: I have not been looking at different charts. 

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

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. 

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. 

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. 

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. 

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.