The Eighth: Patience Pays

Summary

I took a long break from posting to re-focus. It was what I deeply needed to stay in the game. I realized there was no point in posting every loss. I just want to put my head down and get back to work. I will continue doing so until I am back in the game.

Ticker: GTXI

It formed an ABCD pattern and held a higher low at C. It also broke out of the descending triangle and held trend. I BOT @ $0.76 anticipating for the $0.82 breakout. It took a while, but it finally broke out. My patience seemed to have paid off.

Note: I will continue to monitor this and will add into it if it holds $0.84 as support. I will hold until $1.00. I will also probably up my stop on Monday. 

Ticker: STEM

The idea was for a morning consolidation before another push. I got in early @ $0.64 and waited for the push. It did not happen so I sold out.

It pushed forwards to $0.65, but it couldn't break it the second time. I should have noticed this and sold at a higher price to recover some of my losses. My stop was @ $0.63.

Note: This idea just didn't work. I will sell more quickly next time if it does not break the resistance after the second attempt. I need to remember that I can also buy back in if it works. 

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.

First: Bad Trade

Summary

I lost internet for a few days which resulted in me not being able to trade effectively. I made a bad trade in the first place so there should be no excuses for it. Today, I sold out feeling more terrible than ever.

I don't know if  I can continue trading like this. There is definitely something fundamentally wrong about my trading. Every loss is taking a slash through my chest. The pain is there, but I need to keep pushing forward to succeed. I might have to carefully review again before coming back.

News even came out for the company, but it was not enough for it to carry through.

Ticker: ASTI

The trade was not worth it. I thought it might have based yesterday and continue an upwards trend today, but it didn't happen.

Note: The risk vs. reward was bad. This was a bad trade overall.

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 Fourth: Step Back

Summary

A chart that just failed. I also have to be more quick and remind myself that small profit is better than a loss.

Ticker:  LOOK

Target was $2.10 after I recognize a small ascending triangle. It also broke out of the long term downtrend line. After it broke $2, I thought it had strong support. It did not and I should have recognized that as a signal to sell.

Note: The risk was 9 cents and the reward was 17 cents. Almost 9:17 which is 1:2 ratio which is better than yesterday.

Note: When it broke the uptrend line and channeled, I should have immediately sold out as this was a sign of weakness. It also broke my second "imaginary" stop @ $1.99 which should have been my signal. My stubbornness cost me the small win.

Note: The second thing was I sold early @ $1.90 instead of my stop @ $1.84. I did this to protect myself from further losses. In hindsight, I should have left it be because that was low of day and it could have bounced a bit which it did later on. I guess this is in hindsight so perhaps I should think of a better plan for stops.

Prediction: CRNT

My prediction was correct with a failed follow through and a drop today. The volume was halved yesterday and today was a complete tank.

Note: I was right, but I want to get better at predictions. There was no news and it tanked. No continuation.

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 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.