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.

Ninth: Slow Grind

Summary

 I have been taking small losses here and there, but it is better than taking big losses. I am starting to feel more comfortable in making trades, but still am taking losing ones. I need to be more sharp at looking for charts and cut things off sooner if they start grinding. There were better trades out there, I just did not take them at the right time.

Ticker: BONA 

I missed the weak morning washout and bounce. I did not think of it as I tried to play and shorted when it started to peak. I shorted when it started to look weak, but it just consolidated for the whole day before moving upwards. I stopped out, but I should have cut it short.

Note: I should not be playing these types of charts because they are slow movers. I should have took the trade off earlier since it was not moving. During power hour, it just squeezed most the shorts and went higher for the day. 

Note: I fought trend once again and got burned. I need to start going with the trend instead of against 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.

Sixth: Fighting Trend

Summary

Another loss because I rushed and did not pay proper attention to the chart movements. It was a decent plan, but I was fighting the BIG picture. This chart went big and consolidated before coming up to the point in the picture. I should have just considered it part of consolidation and went along with the trend. Something that I again, failed to do. 

Ticker: VLTC

Should have followed the trend and thought long when looking at this chart. Before it created a ascending triangle, I thought it made a lower high and was ready to fall. However, it held $4 and kept on chugging along. I should have noticed the ascending and switched positions from short to long. I waited too long to sell out.

Note: It seems like there is a difference between where I thought was top and the actual  top after the run. Before the chart snaps down, the base seems to be more concrete @ $4.40 and each bar is closer together forming lower highs. The volume also indicates that while trying to push forward, it is failing.

Note: Don't fight trend!

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.

Second: Close, but no cigar

Summary

Took one trade today that I thought it was decent. It just didn't work out. I stopped posting because I took a long break while re-funding my account. I almost decided to quit posting all together because of all my losses, but then realized that that was stupid. I want to get better and this is a way to do it.

Ticker: GBSN

This trade just didn't work out. I noticed an ABCD pattern and  after it was close to resistance, I bought in @ $4.22 to see if it could break it. My stop was $4.11. One thing I might have noticed was the double top it put in with no clear break. I should have bought in when it broke it clearly for the red to green move.

Note: The double top with no clear break should have been a warning for me to be cautious. Other than that, it was just a position that didn't work out. The only available play here was to draw a descending trend lime immediately after the failed breakout and play the breakout from the descending trend line.

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.

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.

Eighteenth: Continued Failure

Summary

Today was miserable. I did not over trade, but still lost because I made stupid mistakes.  I did not set my stop fast enough and almost got squeezed. I let go of my stop for 5 seconds and got squeezed. I traded when I was in no condition for it.

Ticker: RTRX

I did not pay attention to Pre-Market and got completely burned. I was scouting for a bottom, but did not find it. Not only did I fall into a trap, but it was right in front of my nose.

Note: Always pay attention to pre-market to see potential resistance and support. Also know that whole and half-dollar marks are good places for bounces. I was short biased on this and did not look at the big picture. I also did not account the SPY's performance which made this jump. 

Ticker: THRX

I wanted it to break $17.50 and head towards $17, but I should have sold out when it held and made a higher high. It was stupid of me to hold it for so long. I made a mistake towards the end where I took out my stop to do it manually. As I did that, this stock squeezed the fuck out of me.

Note: Do not take out your stop, unless you are 100% sure that you can replace it within 2 seconds. I took it out and it just squeezed completely. I also have to note to always sell on the pullback of the squeeze. There always seem to be one and it may be the best time to get out. 

Note: I missed the big picture again because I was too stubborn to switch my view from short to long. I need to get better at that in order to survive. 

Ticker: ACRX

It's down almost 50% from $8. I thought I would buy all dips on this for a nice bounce.

Of course I fuck up my buy in. I thought it was very strong and could go, but did not notice the volume at all. I BOT @ $4.15 and just decided to wait. I will buy all future dips or weak opens on this chart for a swing.

Note: Even the charts I like, I fuck up. I wanted to swing and should have waited for it to re-test the support. I just thought this thing was going to go and did not even notice the decrease in volume. Fuck me.

Note: Do not play charts you did not scan yourself. Always take a look at pre-market to see if there is a support or resistance. Do not trade if you are tired.

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.

The Seventeenth: Blunder

Summary

I went ahead of myself and made a stupid blunder. I purchased shares when I shouldn't have. I took a long break to refresh myself and before my re-fund was even complete, I decide to fuck it up.This trade was stupid and shouldn't have happened.

Ticker: AEZS

I saw some rumors on twitter on this and thought this might go. It didn't so I just sold.

Note: It was a complete waste of commission and I should never attempt something like this again. 

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.