Sixteenth: Swinging Safe

Summary

I told myself that I wasn't going to lose anymore and I will prove it by grinding it out. I will build my confidence with slower plays and be patient for confirmations and the back side of the move. I need to build some of my commissions back if I want to continue.

Ticker: CYTR

The front side of the move seemed to have ended and I wanted to move in. Unfortunately, I missed two front moves, but I caught a break at the end of the channel and joined in.

Missed two entries and finally went in after it retested the channel. I missed the morning because I was late and I missed the second entry because I was scared. After it broke the channel, I did not rush and waited a few hours to short @ $4.55.

Note: It took a long time for me to make my move because I got scared after it climbed its way back to $4.64 nearing $4.65. It fell below the descending triangle and I thought it would be chasing there so I waited. I waited for the next resistance test and shorted @ $4.55. Stop @ $4.65 to give it wiggle room.

Note: I was happy I did not short at the lows of $4.50 and allowed it to test resistance. Chasing there would have made me much more anxious. 
 

Ticker: INQD

I started researching pennies again and this setup looked interesting. I want to call this a penny play @ $0.93 for anticipation of a pump.

Note: Would be interesting if it worked.

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.

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.

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.