Fourteenth: Missed Opportunity

Summary

I failed to execute on something I caught. 

 Ticker: AKBA

The daily looked decent for either a parabolic or a washout. I wasn't sure what to look for, so I waited for a setup to form.

Point of interest #1: It is interesting to see what happened after this point. In the case of AKBA, it got rejected towards the pre-market highs. 

Missed the opening move for a long and missed both stuffs.

Note: I need to keep my eye open and execute as I see these things happening. I take notes either after the trade or before the market opens. Not during the trade! 

Note: A reason why I might have not taken it is because the risk would have to be towards $11.84. However, when I was writing down my notes, I put the stop at $11.50+ which might have been too tight. This could have been a place I started small.

The Plan:

Descending triangle forming on AKBA. Looking for a good entry.

Short: 11.35
Risk: 11.50 (15 cent)
Target:  11.00 ( 35 cent)

about 2:1

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.

Tenth: Fucked Up

Summary

I fucked up today and there is no excuse for it. I traded like shit and got what I deserved. I am not sure where to go from here. My equity is dwindling to nothing now and I am basically back to square one.

Ticker:  SIGM

 

The overall chart. 

The first add was because of the first 2 minute higher high. However, the chart quickly washed out and I needed to get out. The second add was because of the higher high again, but I got scared out of the position because my stop was too tight. I am glad I got sold out at $9.25 and used my lesson from yesterday to guide this trade. That lesson was to treat positions that go against the overall trend as scalps.

Note: This was a trade where I could have scaled in and anticipated the the long. However, I did not think of that and got scared out off my position a few times. I need to be aware of this scaling in situations.

Ticker: SGMO 

The overall chart.

 

I played the frontside of the move and got fucked. I did it because of the double top and lower lows. However, it just reclaimed and went straight up. I shit the bed on this one.

Note: I shit the bed and broke my rules on this trade. I was impatient with this chart and wanted to get in at a good entry. This led me to trade erratically with no risk in mind. I tried to scale in and did not realize that this was just a dip before another leg up.

Note: I have to realize that there are plenty of opportunities in these kinds of stocks and not to break my rules to try to get the best entry. The best entry for my account would be to wait until the backside of the move. If, I waited, I still would have had a nice trade.

Ticker: AKBA

Emotional trading kills. I meany stop, not stock.

Note: This was an emotional trade. This is a stock I should have never played because of its low volume in the afternoon. The morning would have been okay, but this was just bad on my part.  

Note: I cannot trade if I don't get enough sleep. Waking up at 9:00am to trade is not right. I must be ready for the day with my homework done. No homework, no play.  

See something I did wrong today? Let me know by commenting below. 

Ninth: Overtrade

Summary

I need to stay calm and stick to my plan when I am in a play. The moment I don't, I will lose.  

Ticker: AKBA

How the chart worked today.

Note: I noticed that wherever a chart a trending. Going against the overall trend should be played as scalps, so I should have played safe when I did go long.

Note: Whenever there is a big flush from a failed follow through usually means that the chart will continue going its trend

How I played it. Like an idiot.

Note: I need to play with the overall trend for the big moves. Playing against it would just be for scalps. I sold out too late because I was looking for a $12.50 push towards $12.60. If I realized that this chart was bearish for the day, I should have got out at $12.50.

Note: I need to stop being scared and more confident with my trades. I must trying to play for money if I am red for the day. I must stop overtrading and getting killed on commissions. 
 

See something I did wrong today? Let me know by commenting below.