The Tenth: Stopped Out

Summary 

This is just the daily grind of it all. I really hope to improve from all this and learn my mistakes. So, I just stopped out of everything I tried today except for one. I developed a new strategy for stops and on how to build my small account. I will use my SureTrader account to scout for potential swing and test for breakouts and once it does breakouts, I will go all in with my TDAmeritrade on a sure trade. I am going to be focusing on one play at a time and find the best one. This should help with my analyzing skills and my chart choosing abilities. 

It may already be too late because of the hole I dug myself into, but I will give it a shot and see where it goes. I rather fight to the death than just give up. 

 Ticker: GSS

This is my loser for the week because I bought too much of it with hope. I should have tested it with a smaller portion and I should have noticed the way it was going.

Note: I rushed too fast to buy this thing and I bought too much. If I wanted a position, I should have just either waited for a new pattern, breakout, or just bought in with small size. I was hoping and that got me to lose a lot more than I had to. 

Note: I noticed I wanted to test my patience with my stops, but I cannot use that as an excuse to not sell at a better price when the new pattern was obviously bearish. 

Ticker: TVIX

I bought in TVIX again because it gapped up. I rushed too fast to buy in when I should have waited for a higher low. I thought I noticed a cup and handle pattern, but I should have just waited for it to test the resistance.

Note: Even when I did buy in, I put my stop under $2.12. It did break this, so I think it might be weak. However, with my new stop strategy, I would have been able to survive the drop and sell off at a better price. It is something I will be testing in the upcoming days. 

Note: My new strategy is look to at the prior day's high and put it a cent below that. If I did it here, I would have been fine and I would be able to fight another day. It did hold above $2.12 so this stock could be on its way towards a reversal.

Note: This is an interesting chart to keep an eye out for. If it breaks $2.19 tomorrow, it may be a good buy for swing. I would buy again, but TD would not let me because of the three day settlement rule.

Ticker: CYTX

I purchased even after the huge red warning. However, it did stay above the support, so I just went with the chart. The TD chart did not have the red flag, so I thought it was okay. Even though it did go high, I think it meant that it won't breakout crazily.

Note: If I plan to hold a ticker for the whole day and think that it will close at the highs, I should go for a swing stop. If I plan to watch the chart closely, then adjusting my stop would be okay. My original stop was at $1.26, and I raised it before I left. I knew it was going to close near the highs, so I should have just left it and it would have been fine. My original risk was 3 cents. I could have sold it higher. when I came back. 

Note: The above strategy should work for only clear breakouts. Even if it is a fakeout, I would have lost it anyways so there would be no problems.

Ticker: CVOL

I got this because of its clear breakout of the channel.

Note: This is a low volume chart, but I will probably buy more tomorrow if it makes a new high and holds. This might be the chart I am looking for.

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.