No Chance

I blew it.

I forgot that CyGroup included the Sterling Pro bill for the current month, so the dream is over. I prepared diligently for this month and have nothing to show for it. This has been a devastating blow to my spirit and mind; but like the market, anything can happen.

I really don't know where to go from here. I guess that is the life of a maverick.

P.S. If you guys want more, check out Vinny's blog. 

Do or Die

My Situation 
I traded like shit this month and my CyGroup account reflects it. My account will be frozen once it reaches a -$3800 balance and I have a -$3400 balance now. This means I only have $400 in my account which will be $163.20 next month after the platform/data fees. Next month is my last chance to prove to myself that I have what it takes to be a consistent trader.

It will be the toughest month of my life and will determine my fate as a winner or a loser.

What's next?
I have been trading for the past two years and everything has come to these final moments. My odds of surviving are slim to none given my circumstances. However, I am not going to quit. I will review everything I learned and grind my ass off next month. I will do whatever it takes to become consistent.

I'll see you guys on the other side. 

22nd: Abide the Rules

Summary

I must keep my head down and keep pushing forward. Doing something well today does not mean anything tomorrow. I must abide to my rules and play the setups I know. I mustn't force trades when I am up and mustn't be trading if I'm not well. The reasons why I forced the trade is because of greed and the desire to make more. It wasn't because the setups were good. I need to realize that the money will come once I trade well. Otherwise, I will never trade well.

I have come to question my health recently because of my lack of energy and increase of illnesses. I really hate being sick because it prevents me accomplishing anything. I need to take care of my body if I am to be successful at this profession.

These are all things I know and today serves as a reminder of why they are important. I rather ingrain them in my head today than tomorrow.

Ticker: MFRM

It gapped down and gave me an opportunity to short. I did not take advantage and shorted on weakness instead of strength. I got bear bad.

Note: When SSR is on, I must remember to short on pops or else I could get run over. If I miss the trade, then I miss the trade.

Notes: What's worse is how I did not let it test $38.30s thoroughly. This is a big problem of mine because I sometimes just assume that a stock is finished if it even touches my risk area. I must let it touch it and wait to see what it does afterwards before I make my decision.

Ticker: LEU

I forced this trade because I didn't want to miss out and wanted to make more money. I didn't trade this because the setup was good. The only play was in the morning and on pops along the way. The moment it dropped and held, I should have waited until it peaked $3.00. Instead, I anticipated received a poor entry and paid the price.

Note: I was up for the day and should have called it a day because I wasn't feeling well. Instead, I fell for the trap and got fucked. This was an obvious bear trap because of the way it consolidated and never broke $3. This thing was also low of days to make it worse.

Note: There was no play here except the long, but that is just 50/50. 

Ticker: SRPT

I was frustrated and wanted something to work, so I foolishly played this chart. I did not follow that the uptrend was clearly broken and fought it anyways. This was just stupid.

Note: Just stupid stupid stupid. I had no edge here because the uptrend was no longer valid. All I had was a lot of anxious longs wanting to sell to me.

Bonus Ticker: TSLA

Cygroup alerted this at a pretty good time. I just failed to play it.

Note: There is no excuse not to play this. I must be quick to realize the play and play it.

Notice a mistake? Let me know below!

My New Setup

It's a new year and I was able to afford a few new tools for my trading. I bought a new 24 inch monitor, access to CyGroup, and a 7 month subscription to the Investors Underground community. This is in addition to what I already had which was a kick-ass machine, GSP Chatroom, and freedom. Everything together cost about $6000 and I really wish I had paid with my trading gains but that only happens in fairy tales. In reality, I was only able to afford this by busting my ass for the past 4 month and really weakening my trading confidence in the process. I am spoiled for having all these things because I know guys making everything out of nothing and I really aspire to be one of those guys. I am the opposite where I have everything and will probably lose everything.

I noticed that I have an abundance of negative energy that has taken a toll on my mental health. I thought I could channel it into something productive, but it was just too much. I got to a point where I didn't even want to trade anymore because it got too painful from my inner rage. I even contemplated sticking around my $6/hour job when it was time to quit because it was safe and made me somewhat satisfied. I felt defeated, but decided to recover. I will still channel my negative energy to be productive, but I will just tone it down. It's time to go back to the origins of why I started which was to find a consistent way to make money in the markets.

It's time to get back to work.