Twenty Third: Slow Revival or Death

Summary

I have no money left so decided to play more loosely. I will still have stops, but they are wider since I am aiming for the LONG swing. It seems like it's the only way left to build my account.

Ticker: ASTI

So it broke out of the downtrend line and seemed to have found some support. It can still fail, but it can also grind up like how it did before in early February.

I wanted it to test $1.10, but I lost my patience. I got in my initial position @ $1.14 and will add in if it follows trend.

Note: This stock was definitely not worth it. The risk vs reward of this stock is 15:11 which is worse than 1:1. I may have fucked up here.

Note: I am playing more loosely, but I am starting to realize where I may have gone astray in my trading.

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.

Twenty Second: Curse Continues

Summary  

I was not on time this morning to get out of this position since it flew by my stop. I think I figured out why I am losing big time from these potential breakout stocks. 

The curse continues. 

Ticker: MEIP

My stop was $2.18 and I thought yesterday was a consolidation before another push forward since it held above $2.19. I took a risk and got in @ $2.23 before the end of day push. Unpleasantly, it tanked today and went through my stop. I suppose I could have got out at a better time, but I just didn't like the situation.

Note: I bet that this stock would have continued if there was good news supporting it. This push was based on the chart and once it broke down, there was nothing left to support it. I noticed the stocks that I pick to continue are the stocks that have no news or bad news. 

Note: I need to play stocks that have good news on the day it breaks out so that it would continue. 

Prediction: CRNT

The news was posted on April 14th, but there was a breakout today. There was nothing else.

Prediction: This was only a technical play and no news means it will have no support tomorrow. I predict that this will go red tomorrow with a possibility of a consolidation for another push.

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.

Twienth: Flying Saucer

Summary

The flying saucers are coming to the rescue. I am strictly joining the trends of the trade because it seems the charts fight for me when they do that. Even when I go in the front side of a bearish move, the support from the long term chart comes in to turn the bearish move to a bullish move.

Ticker: MEIP

This chart broke out and the saucer seemed confirmed with a nice target. It can potentially go higher as I expect some kind of gap this week.

I missed the initial move so I waited because I didn't want to chase. I waited patiently for the break and I got it. I did not draw the second uptrend line so I did not get in at a better price. As soon as it looked like it was going to reverse, I bought it which was $2.30. I wanted to buy more, but decided to wait until tomorrow.

Note: I should constantly be updating the uptrend lines so I could get better predictions of when I could buy in. I participated in the front side of the move when I should have waited until it held support.

Note: Even though it worked out, it could have been better.

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.

Seventeenth: Cursed

Summary

Fuck me, I am cursed. 

Ticker: CYTR

I thought I made all the right moves, but still got fucked in the end.

I should have been more patient for it to test support. I could have covered at a better price.

Note: Be more patient with targets. It usually pays off at the end.

Note: I learned what a saucer is today. 
 

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.

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.