The Nineth: Patience

Summary

I would like to think that everything is coming to plan when XRA stopped out on time. I started here @ $0.52, but was waiting for a bigger move. However, what I did not notice was that it was still in a downtrend. I should have waited for a clear breakout from this trend before buying in. Now I know better so I will be looking for better setups. I think I am close to what I want to achieve. Just have to keep grinding and learning. 

Ticker: XRA 

I got stopped out today @ $0.49. It was a 3 cent risk and the only reason why is because of GOLD prices declining.

Note: I let it run all the way through without being scared. I hope to continue to let charts run its course so I get used to the set risk and reward. 

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.

Too Patient

Ticker: CERE

I should have bought in when it made a higher low in anticipation for a breakout. I was too late today because I thought it was just testing $0.38 as resistance. When it broke out, I did not want to chase so I let it go. 

I thought it was just testing the resistance today. I already missed out on the break of the smaller channel so I did not want to chase.

I tried to be patient for this chart because it looked like it was consolidating before the breakout. I should have just bought in when the risk was low and been patient with a position. When it broke out, I had no chance and did not want to chase. Next time, I will be ready. 

XRA was a good example of buying in and being patient.  

First: Low Risk

Ticker: XRA

I have been rushing myself before and over traded which put me in the position I am in now. So I decided to tone it down and test my patience. One way to do it is to look for low risk plays and swing. In this chart, I noticed a downwards slope decrease and a small break above it which may signal a reversal. I decided to take this as a signal to go in small with a stop @ $0.49. It is a small risk for a potential reversal. I want it to retest @ $0.53 the base and if it holds, I will increase my position. I will hold this until it tops or breaks new trend.