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Thursday, May 19, 2016

16th-19th: Poor Exits

Summary

My confidence has been shattered and I will not be making any money until I get it back. My entries have improved, but my exits have turned into shit.  I have not been letting my trades test out my ideas. I must be patient once I enter the trade and allow it to work!

What must I do?
1. I must work on being patient with the trade and realize when a good exit actually is. I used to be better at my exits, but now it seems I get scared out by any type of movement. 
Ticker: FRAN
 Terrible.

Note: I was only risking 30 cents. There was no reason to cover this early. Everything was in my head because I was thinking how not to lose.

Ticker: ANDE
Gapped up and missed the squeeze. Missed the pullback as well. 

  
My entry wasn't  the best, but I was just risking 42 cents worse case.
Note: There was no reason to cover.

Ticker: SONC
There was a push and I got out because I panicked.
Note: There was a better exit and I panicked before I was able to get out at a better price. This was stupid. I should be calm when I am wrong and wait for the best exit.

Notice a mistake? Let me know below! 

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