24th: Follow Trend

Summary

I did not have a good day and it's because I did not follow my rules yet again.

My main problems

1. I am not following trend.  

2. When SSR is on, I forget to short the pops.

3. I do not accept my risk before I play. I do not let it test my risk over/under.

4. I never add to my positions at the right time.

5. I am sick too often.

Ticker: PTLA

This gapped down and I started off fine until the add. I did not stick to the plan to add if it peaks and I am definitely winning. My second attempt to short was decent, but I should have been okay with it to test $22. I wasn't okay with it so I got out. My short attempts later were absolutely stupid. $21 was the risk and I just got scared out because it was holding higher lows. It didn't even test $21. My last long attempt was just me trying to get fancy and I shouldn't be doing that shit at this stage of the game.

Note: I noticed that morning shorts are better when the pre-market patterns aren't developed fully. This one was developed fully so the panic didn't continue the wash. In the other chart, it worked better. 

Note: I should be following the trend and stick to the basics. I should not try to get fancy and if I do, I should be willing to pay more for the chart to confirm my theory is correct.

Note: I should be okay with the risk and should let the chart test over/under that risk before I make any judgement. The amount of times that I have gotten scared out because I did not is sad. 

Note: I must remember to short the POPs and if I miss it, then I miss it. 

Notice a mistake? Let me know below!