Piss Poor Trades #3

Death

Since my last loss, I found a job to fund my next account and decided to trade less because my account is so low. This isn't enough and it shows in my recent trading. I have not been practicing and have been forgetting important concepts. The game seems to be over and I feel like shit. However, it doesn't mean I quit. It just means that I gotta go over old material and review. 

Ticker: XOMA

Date: 10/01/15

The Daily Chart. 

I went long after a higher low. It did not work.

Lesson #1: I did not pay attention to the resistance and how it peaked there the first time. I should be more aware of the surroundings so I can find better signals to short or long. 

Ticker: FOLD

Date: 10/02/15

The five minute chart would have been perfect. I just didn't look, like an idiot.

I wanted to long, but then I saw a few bars that looked weak. Once I saw these bars, I just thought shorting was the way to go. Boy was I wrong because the main setup was for a long. This is something I thought I was good at, but I guess not.

Lesson #1: I seem to have forgotten the setups. 

Lesson #2: My bias seems to have come back. STOP IT

Lesson #3: I have not been looking at different charts. 

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

Nineteenth: Giant Fuck Up

Summary

I got too emotional with my trading today. After my initial loss, I got angry and traded too much. Being tired did not help at all. I realized that I have not been playing the right way and it got to me. I know that if I continue the path I am on, I will fail. So I must steer the ship to the right path. It's the only way to succeed.

I discovered a few things about my trading after talking with VinnyB such as over complicating simple ideas and making stupid judgements. This is something I must fix.

Ticker: FOLD 

I was an idiot and made every mistake in the book with this one. There really is no excuse for this at this point. I just fucked up so bad. I think this was the case because I broke my rule of trading under pressure and not having another energy. I got my emotions get the best of me here and should have stopped after my first big loss from the squeeze.

Note: I made every mistake in the book on this one and ignored all the signs. My emotions got the best of me and I fucked up. This could have been a great trade, but my lack of common sense just fucked me.

Note: If I am going to trade like this, I might as well throw my money in the trash and live in the streets.

Ticker: CORT

I stupidly bought @ $6.00 because I rushed the trade. I got tricked by the volume @ $5.80 and forgot it meant that it could still go higher. I did allow it to test $6.00 at all and was just stupid. After its stunt, it was holding $6.00 so I got out before another run.

Note: I must be more patient and allow the resistance and supports to be tested more thoroughly. Otherwise, I am going in blind without confirmation. I almost got squeezed here because of it. 

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.