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. 

I'm a Loser

 I'M A LOSER

Since we last talked, I traded away a fuck ton of money because I'm a undisciplined piece of shit. I'm no 1337 trader; I'm a fucking fraud. My positive thinking is shit because I've been lying to myself. I ignore my own advice because I think it's all fun and games. My trade reviews are unclear and unfocused. I got my head stuck so far up my ass that I don't even realize that I'm pissing all my money away. 

Does this mean I quit?  
NO

I have to start over and do things the right way. It means constantly making trade reviews to keep myself accountable. It means slapping myself five times before I confirm the trade. It means doing whatever the fuck I need to do to get back on track. Trading is very rewarding but is no joke. I must be always on my A-game to even break even with commissions. Anything else and I'm just wasting my time.

The reality is I either change now or I should just give all my money to some bum on the street. He'll probably use it better than I can.

So to end, some wise words from VinnyB: "The money is out there, you just gotta take it or I have no sympathy for you".