Piss Poor Trades #4

The Road 

I made a series of disastrous trades that have led me to a dark path. I didn't report them because I just felt ashamed of these trades. I tried to do an internal review, but I realized that's just half-assed and isn't good enough. I must post a full review so I UNDERSTAND what I did wrong and to never do it again. These are career ending trades.

There are times when traders lose big and it is how they bounce back that shows whether they have improved. It is now my time to see if I can really make it in this business. 

My Problems

Problem #1: I missed many trades and I grew angry how I keep missing them. This is because I am unprepared in the morning when I have my morning charts set on 15m instead of 1m or 2m. This is because I am unprepared by scanning charts instead of planning for the trade.

Solution: I have to realize that this is my business. I must be a professional.

Problem #2: I have played charts with no edge and enter them at the worst times. I have no plans on some of my trades. This is because I've grown impatient and desperate. I know I am running out of time and am forcing trades.

Solution: The market is a bitch and I should treat it as such. I must be a professional.

Problem #3: My execution has become sloppy. I exit a stock even when I am winning. This is because I do not believe in myself and get scared when the markets move one way or another. I have become scared of the price movement.

Solution: I will believe in myself from now on even if I am wrong. I must be a professional.

Problem #4: I have become angry, frustrated, and play too much size.

Solution: I must chill and take one trade at a time. I must be a professional.

Ticker: GBSN

I should recognize the situation that this was not an unexpected parabolic move and the consolidation would take much longer to form.

Note: I must be focused on my trades and make sure all my tools are in working order.
Note: I should not play the a rebound off a non-parabolic stock after a huge flush.  
Note: I should not short randomly especially towards power hour. 

Ticker: LSTR

I should have recognized the recovery and the pattern and stayed away from the short.

Note: I should be away during these times or at least more focused. I should not be fucking around during trading.

 

Ticker: RPTP

Just a random trade from an unexpected parabolic.

Note: I gotta take a step back and understand the full picture. This was towards the end of the day and power "fucking" hour. I should not be fucking shorting because there was no more time.

Ticker: MOMO

These trades were a disgrace.

Note: There was no volume and no trend. I should have stayed fucking away. I did even worse because I shorted on weakness and covered tops!  

Note: If I have to hope for something in the market, then I already lost!

Ticker: VZ

Random trade on fucking Verizon

Note: If I traded this, then I know I am fucking desperate. There was no trade here at this fucking time. At this point, it was my emotions controlling me.

Ticker: UA

I need to recognize this pattern quick cause it fooled me so many times.

Note: I should not be scared of price movement and be objective when I exit a trade. There was no reason to sell that early because it didn't even test $44 which I wanted it to.

Note: The second trade didn't even breakout when I bought it. Another sign of desperation.

Ticker: SRPT

I shorted on weakness and was stubborn.

 Note: I must follow my plan or else I will just be giving money away.

Ticker: VSLR 

If I have a plan for my risk when I leave, I should also have a plan for my potential profit.

Note: I shouldn't be leaving when I have a lot of size in play. I should have a plan for if it succeeds when I leave. At least get out partial if it does what I want.

Lesson #1: SHORT POPS; BUY DIPS!
Lesson #2: DON'T PLAY TOO MUCH SIZE!
Lesson #3: DON'T ADD IN UNLESS YOU ARE WINNING!
Lesson #4: IT'S OKAY TO LEAVE EVEN IF YOU LOSE!
Lesson #5: UNDERSTAND THE BIGGER PICTURE!
Lesson #6: FOLLOW MY OWN FUCKING ADVICE!

Notice a mistake? Let me know below!

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!

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!

22nd, 25th: Long Way

Summary

I got a long way to go with learning to trade. There are a few things I need to get straight before it can all click. I need a solid strategy, lots of sleep, and to be prepared. It's sad that I haven't been able to make a watchlist given all this time, but I will correct myself no matter what. There is no excuse for not doing so. Sterling Pro has been awesome so far, but I need to be able to use it flawlessly. I need more practice.

Swings

Ticker: AEM

Looks like a nice swing long since it gapped up today.

 My could have been more patient for a better entry and my stop was way too tight.

Note: If I am going to swing, I better start paying more attention to my stops and such.

Daytrades

Ticker: ZFGN 

The daily looked good for a short. 

 

The moment it got rejected at $9.50s, I was interested. This was VinnyB's idea that I stole and took home.

Note: When a stock just flushes, I need to be patient for volume to kick in fully to get the most out of it. Usually I leave money on the table by getting out too early. I could have easily got 10 more cents out of this trade.

Note: I need to start drawing trendlines and forming my own ideas. 

Ticker: ENOC

Paraboliced in the morning and I was looking for the backside

Note: Although this idea could have worked, it shouldn't be a one I'm looking at. I want to be looking for descending triangles and ascending triangles. Nice and simple.

Note: I added way too soon and did not give it enough time to work.

Ticker: OMED

 

This stock gapped down and I saw it consolidate with a descending triangle pattern. I took it, but it reclaimed.

Note: I did not give enough time to retest and added way too soon. I should have stuck with the trade, but I did not have a clear plan so I failed.

Got something to say? Say it below!



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: History Lesson

Summary

Based on my previous experience, I have stuck to the notion that anything can happen in the markets. With this, I have forgotten a lesson that history tends to repeat itself. So even though anything could happen, I need to remember that there is a greater chance that something will happen again if it happened before. That's the whole game we are playing; we are betting on setups that have worked in the past. It's the only edge we got. 

Ticker: KMI

 

I was a fool for not looking at the past.

Note: It was VinnyB who alerted me to the history of this chart and I noted that it could have been a good short given the history. However, my long bias got to me after I couldn't resist how good the daily and intraday chart looked.

How the chart looked in the daily. I think I would have preferred a higher gap up to play the breakout.

Note: The daily looked good so I immediately had a long biased for this stock. 

Point of interest #1: This is an area I should be watching intraday to see what happens. 

I fucked up my entry initially because I was stupid. I missed the ascending triangle and tried to get in on the dip. My add was decent, but the chart just didn't work. I should have bailed as soon as it started forming a descending triangle. I say this based on the previous history of the chart.

Note: I could have been more active with this chart and got out earlier. However, since I was long biased, I was hoping for a saucer pattern. I haven't seen a saucer pattern in this market in a long time, so that is how bad my bias got.

Note: I expected the dip under $17.20 after seeing it so many times before. As long as it defended and bounced back, I was okay.

A more macro view of the chart.

Note: The first point of interest, $17.35,  got stuffed which meant it was weak. However, it got passed it later on.

Point of interest #2: Anything lower than this price, the setup is broken. 

Note: Notice how the volume grew a little higher, but the bar was lower high. This was the signal to GTFO.

Ticker: SWHC

 

This chart was begging for a retrace.

I got burned because I did not calculate the risk vs. reward on this trade. This was a low risk no reward type of chart. I should have waited for more of a parabolic. This type of setup works better, if the setup was a descending triangle.

Note: I should be waiting for better opportunities.

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.

Piss Poor Trades #2

The Laydown

My trading seems to have gone to shit recently. This coupled with revenge trading, my $2500 account dwindled to $1600. This is pretty bad. However, I will keep improving by discovering mistakes I have made while trading.

Here are my trades.

Ticker: RMTI

Date: 06/25/2015

This is how the daily chart looked like. It gapped up that day and popped before going down.

 

I started too early because I expected a failed follow through. I did not give it enough time and started with a bad note. Afterwards, I was just too scared of the trade and got out once it didn't work. I did not respect my stop and paid for it.

Lesson #1: I should be more patient on plays, especially with a smaller account. I need to let the chart play out and make sure it is set up before going in.

Lesson #2: I should respect my stop and let it do its thing. If I cannot respect my stop, I should not be in it in the first place because it is too risky to play.

Ticker: NVAX

Date: 06/25/2015

I played this chart okay, but I could have done better. My entries were a bit off and I could have sized in more.

Lesson #1: I need to give a stock more room to play out. Again, if the range is too much, then the stock is too risky to play. I need to remember that given my account size now. 

Lesson #2: I cannot be afraid to size in if I am right.

Ticker: EXEL

Date: 07/24/2015

I shorted because it broke the trend to the downside. Unfortunately, the bigger picture was a long. I just played a short term technical thing. I need to get it in my head that there is always a bigger picture and I should catch it before I lose anymore money. 

Lesson #1: I need to realize the bigger picture. If a setup looks like a long, then I should follow it long. I should not short it because of small technical moves. Those moves can be set up for the bigger picture.

Lesson #2: I should not add in unless I was right about the trade. I added in too much size without knowing I was right or not. This is how I can lose big money. 

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.

Piss Poor Trades #1

What's up folks?

I'm have been trading everyday for the summer, but have been too lazy to make a post everyday. This has slowed down my progress greatly and does not help me learn as effectively as possible. I decided to change this and do a series on the worst trades I took and how I could have prevented it. This should help me review these charts and let me know how to avoid them in the future.

So here goes nothing.

Ticker: ACAD
Date: 07/15/15

The chart was overextended on the daily so I decided to give it a try. My first attempt was was @ $51.07 because I saw a higher low and thought it was done. It quickly trended up which was a sign I missed and went higher. I covered @ $51.65 which was bad. I tried again at $51.60, but it came back before it came back down.   My stop should have been @ $52, but I just decided to say fuck it because it didn't look like it was going down anytime soon.

Lesson #1: I need to set stops quickly on fast moving charts or I will get run over if it goes against me. 

Lesson #2: I should play smaller size because it was the front side of the move. Playing with smaller size would allow me to be patient on the play and set my stop to the appropriate amount. I can even add in once the chart looks weak.

Lesson #3: I need to recognize long consolidations faster so I can get out more quickly without losing.

Ticker: NCR

Date: 07/20/15

I tried to play this chart because of the quick parabolic upwards. I again played the front side and did not get out when I saw the consolidation pattern. I re-shorted, but got out. It eventually worked, but it's not how I want to play these types of stocks.

Lesson #1: I should remember to look at previous days that had similar action. The day before did the same thing and I did not heed its warning of a second leg. 

Lesson #2: I was thinking about holding it for a swing, but I realized that this was stupid because I didn't even know the news. I need to stop thinking about swinging things if the chart doesn't go my way. 

Lesson #3: Since this is still the front side, I need to use smaller size to limit my risk. Then, I could add in if it went a little higher instead of stopping out. 

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.

Twenty-ninth: Small Victory

Summary

 

A small victory today. I nailed this chart, but failed to realize its max potential. In a sense, I missed out on the full move. I became lazy with my posts throughout June because I was losing big with poor trades and I was a bit lazy. I decided to stay quiet to focus and come back. I might have got lucky today with this trade.

I need to keep focused or I will fall off the train.

Ticker: MU

I saw some consolidation near 19 and that coupled with the fact that it was low of day before. I decided to get out and take my profit.

Note: I could have squeezed this chart for all its worth, but was not focused enough to do so. I thought I needed to leave earlier so I might have cut it short. This could have been a bigger win, but I blew it. 

Note: I need more focus. 

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.

Seventeenth: Market Manipulation

Summary

I lost $3 from commissions. I guess it could have been worse.

I made some interesting discoveries with a chart and gone mad with my plays. Even being right cost me money, but at least it's didn't cost me as much as before. I must continue to work even harder because I am always behind. It's the only way to succeed. 

Take a look at this shit. There was so much market manipulation that it's not even funny. I am lucky I caught on to it before dying out. 

Ticker: AERI

So this gapped up yesterday but looked weak. I ultimately was looking for a short, but today's chart proved me wrong. 

Note: Good thing I wasn't too biased about the chart.

A lot going on. I saw an ABCD pattern form, but also thought that it was too weak because it lacked volume and was forming a descending triangle. However, something was wrong with the chart. $20.00 was being soaked by the market makers and when I realized it, I thought there was a short trap going on. I immediately went long at @ $20 and when the trap triggered, it shot up. Unfortunately, I stopped out before it went higher.

Note: I suck at trading it seems. There is nothing but that. I just gotta practice more. 

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.

Sixteenth: Swinging Safe

Summary

I told myself that I wasn't going to lose anymore and I will prove it by grinding it out. I will build my confidence with slower plays and be patient for confirmations and the back side of the move. I need to build some of my commissions back if I want to continue.

Ticker: CYTR

The front side of the move seemed to have ended and I wanted to move in. Unfortunately, I missed two front moves, but I caught a break at the end of the channel and joined in.

Missed two entries and finally went in after it retested the channel. I missed the morning because I was late and I missed the second entry because I was scared. After it broke the channel, I did not rush and waited a few hours to short @ $4.55.

Note: It took a long time for me to make my move because I got scared after it climbed its way back to $4.64 nearing $4.65. It fell below the descending triangle and I thought it would be chasing there so I waited. I waited for the next resistance test and shorted @ $4.55. Stop @ $4.65 to give it wiggle room.

Note: I was happy I did not short at the lows of $4.50 and allowed it to test resistance. Chasing there would have made me much more anxious. 
 

Ticker: INQD

I started researching pennies again and this setup looked interesting. I want to call this a penny play @ $0.93 for anticipation of a pump.

Note: Would be interesting if it worked.

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.

Trading Analysis

Ticker: ANGI

I am officially too poor to trade now, so I have resulted to doing trade analysis for myself to practice. This will help me in the long run because it will force me to look at each trade carefully and remind me of things I should be looking out for.  

I made this analysis on today's volatile mover ANGI. At first glance, the analysis may be very complicated and I am not sure if I am actually on the right track here. I made it based on my own experiences trading. So as I was watching this chart, there was this one bar that convinced me to buy, but I read the situation completely wrong. Luckily, I did not buy. After the morning move was completed, I went back to the drawing board to write up what I should have done.  

Analysis for Bounce Play

This chart had a huge day yesterday and during pre-market today, this chart just gapped down. My first indicator shows huge interest and it is ultimately negative as it gapped down and closed red. This means that the buyers were not able to overcome the sellers at this point. The next two bars, the price jumped, but the interest of the stock went down. This would have been a great place for me to start my short. 

On this analysis, I focus on when the bounce is. Indicator 3 was where I thought the bounce was initially, but looking back, I was foolish because the the volume did not even spike yet. I completely forgot about volume which is not a good sign. 

Start from Indicator 1 through 8 and it will tell you what indicators there are. I will be looking at this chart for review everyday. Since I am out of money, I will look for charts like these and maybe even swing charts and try to come up with signs of when to long or short.

In other news, I was stopped out of FMD @ $5.33. Fuck me.

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.