11th: Wrong Risk Levels

Summary

I am not giving the stocks enough room to breathe. This is due to poor entry and poor risk assessment. I am also not taking advantage of my long opportunities. I must realize that I can make money going both ways.

What will I do?
1. I will take more long trades when they present themselves to me. I must be absolutely comfortable before getting to the trade. Any slight stress can cause me to play it wrong.

2. I really must assess the risk more carefully. I developed a system to do that so I can be more accurate with my risk assessment. Once I assess the risk more successfully, I must take the trade by taking fantastic entries. I mustn't be scared that the price is close to my risk because that is the least riskiest.

3. I will once again try writing out my ideas and will slap myself 5 times if it breaks my rules.

Ticker: M

My plan should have been different and I should have risked towards $34.50s. That would have prevented a poor entry and early shakeout. I should not be adding until I am actually right and in the money. I suppose in this situation it was okay.

Note: I gave this trade no room to breathe and paid the price. I added in when I wasn't comfortable so that also led to my demise. 

Note: This trade would have worked out if my risk assessment was done properly. I would have had a better entry and would not have been scared out. When I short in the morning, I should short with less shares based towards my max risk. 

Ticker: ZIOP

The plan was to risk $9.50s over/under. It should have been fucking $9.

Note: Thus was shit planning on my part because parabolic moves usually push higher.

How I played it.

Note: Terrible! I didn't even let it test $9.50s over/under. I just got scared out. This was a terrible play. If I risked towards $9, it would have been no problem because my entry would have been better. 

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