Fifteenth: No Pain

Summary

I realized today that I can either be a winner or a loser and I want to be a winner. In order to win, I must follow the rules I have in place and develop better plans of action. As of now, my plans seem too weak. 

In other news, it seems my emotions have been sucked dry. This is good because it seems I can feel no pain anymore.

Ticker: RXII

Wow, it hit resistance and it just tanked like JOEZ. This has happened to me so many times and it must mean that I am cursed.

 Note: I must read the news of breakout stocks to see if it a dead cat bounce or can have a continuation. This stock had no news so I should have just sold into the resistance.

Ticker: STAA

I bought this not respecting the trend. I did not even notice it. I did not allow it to retest prior highs and just got fucked.

Note: I should not play in the front side of moves until I am more experienced.

Ticker:  RT

I felt like it might crack, but it held the trend so I took it off. This time, I was not going to fight trend.

Note: I did a little better, but still averaged down before confirmation. I must stop doing that.

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.

Thirteenth: Unwarranted Detour

Summary

-$0.68 a share

 Today was a horrible day for me, but I kept my cool by not over trading and more importantly, I did not allow the trade to affect my overall day. The original mistake stemmed from me being bored and trading when I didn't have to. When this happened, all my rules seemed to have flown out the window. It goes to show that the market can rip anyone apart regardless of how much experience they have. I cannot let this trade affect me.

There is no point in being angry because that is just a waste of energy and time worrying. The trade already took place and I need to review what I did wrong and continue onto the next trade.

Ticker: REPH

I started in because I was bored and did not allow resistance to properly test. I assumed $14.00 would be top and played the front size of the move for no good reason. When $14.25 looked weak, I added because I thought that was the top. I was wrong. The real top was @ $14.60 which was obvious because it was prior resistance. I was stupid and could not take it anymore when it started making higher highs in consolidation.

Note: I made a stupid move by playing the front size and not allowing the chart to test resistances properly. I rushed the play and also played something I was unfamiliar with. This was stupid.

Ticker: DHT

I did not allow resistance to test properly and break. I failed to notice the failed follow through after the morning washout. I did not sell when there was an obvious red volume flag. I just stopped out. I need to be able to read charts better if I am to survive the market.

Note: I am just happy that I did not over trade and racked up commissions. This day could have been worse.

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: A Long Road

Summary

My confidence in trading has been growing these past few days even though I am still losing. It's a long road, but I think I have been taking small steps in the right direction. 

I must stick to the process and I think I will be okay. 

Ticker: WTW

I was confused between swing and short. I need to get better at differentiating these trades if I want to get better. I got a lot of work to do. 

So my initial thought was a swing because this had heavy short interest and could potentially squeeze the shorts. I missed the initial move before the $8.00 break and still went in for a bigger risk.

Note: I missed the swing trade plan. This is where I should have just stopped and waited, 

So I BOT @ $8.13 because it broke a small descending triangle, but I did not notice that the break was weak. This thing channeled for a bit before it fell completely. 

Note: I should have noticed that the volume was weak when it did break out. I should have waited to see what happened afterwards. The channel that formed was just a weak sign of continuation for the descending triangle. 

Note: The overall trade was bad because I wanted to swing it in the first place. My entry was too risky for a swing stop so I sold with an intraday stop. I need to work on swing and day trade ideas. 

Note: If I miss an initial entry for a swing and the continuation looks weak, I should be more patient for a better position before entering a trade. 

Ticker: RXII

So this chart broke out @ $0.78. I bought some @ $0.798 and my target is @ $0.88.

Note: This is just a potential breakout chart. Broke out of a channel and looks ready to go. 

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.