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Monday, February 16, 2015

The Thirteenth: Last Breath

Summary



I suppose they don't call it Friday the Thirteenth for nothing. It was supposed to be a special day for me but, I called it a day after a few poor trades and decided to take the weekend off. I came back today and I found this. One of the decent stocks I wanted to swing overnight reported this and it looks like it will go to shit tomorrow. I don't even know if I can even trade it with SureTrader, but I will ask before market opens. I need to get out as soon as possible. The above statement is basically the summary of my trading performance last week. 

Ticker: CSLT


I started out fine, but as time went on, it seems like I have forgotten my rules.

When I was scanning this chart, I noticed what happened before so I was hoping for that kind of action.

I started off strong and read the volume and Lvl2 precisely. I covered at the right time before the bounce as well, but I still had a bearish bias for this chart and wanted to short again. I should have left it alone after it bounced back into where it came from. Next time, I should notice if the bounce is strong or not. If it is strong, then I should think that the bulls are in control. I missed an ABCD pattern as well because of my stubbornness to change positions.
Note: Notice how a chart bounces. If it is a strong bounce all the way to the top, then it should still be bullish. I should have prepared for a long instead of shorting. I also shorted too many times and the last short was because of anger which should not have happened. 

Ticker: GTXI

This stock was not moving as I wanted to so I just sold out in the morning.

Note: I need to stick with this mentality of trading. As soon as I see signs of stocks that are not moving the way I want, I need to get out. If I didn't, it would have been very bad as you see here. 

Ticker: NQ





I was not patient enough and should have waited for more confirmation on this chart. I rushed and bought my second portion too soon. 
My plan was to play the breakout, but it didn't happen.

I should have waited a bit longer to buy my second portion.

Ticker: WHX

This chart really looked like it will go parabolic. I bought in and decided to hold overnight stupidly thinking nothing would happen.
Note: I should have been very suspicious of this chart and why doing this. I did and found out that they were going to give out a large dividend sometime soon and the buy in was the 19th. However, I did not notice that during aftermarkets, NYSE delisted them and now I may be fucked. 

Note: I need to get out in the morning. I should not hold suspicious stocks overnight.

What am I to do? I gotta get the fuck out and sell in the morning. 

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.

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