Twentieth: Learning

Summary

After acquiring all these new tools, I discovered that I know nothing which means I have a lot of learning to do. The time it takes to learn  just makes it so there is no time for anything else which is great! I am no longer distracted with random things because there simply isn't any time for that. I just have to take it one day at a time because trying to do more will just overload me. 

I have started to get back into the swing of things, but I don't feel 100%. It's probably because I haven't been trading for a while and I just need more time to get back into it. The one thing I can say that I don't like is the fact that I am basically in front of the computer all day now. It's something I wanted to take out of the equation, but it is more prevalent than ever.  

I also must be looking at more charts because I am finding myself totally unprepared in the morning. Whether it means to post my watchlist on here or not, I must be prepared or else I will have nothing to trade.

Ticker: ZFGN

 

I thought I saw an ABCD pattern, but it turned out to be more of a consolidation before it went lower.

Note: I learned that it is better to be waiting to buy dips off a more solid trend than what I saw. Thinking about it now, there was no uptrend, but just a channel which was just a consolidation. Next time, I will be looking out for an uptrend before calling an ABCD and buying. 

Note: I should not have just market stops on fast moving charts or charts that have big spreads. That will kill me in the long run. 

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.

My New Setup

It's a new year and I was able to afford a few new tools for my trading. I bought a new 24 inch monitor, access to CyGroup, and a 7 month subscription to the Investors Underground community. This is in addition to what I already had which was a kick-ass machine, GSP Chatroom, and freedom. Everything together cost about $6000 and I really wish I had paid with my trading gains but that only happens in fairy tales. In reality, I was only able to afford this by busting my ass for the past 4 month and really weakening my trading confidence in the process. I am spoiled for having all these things because I know guys making everything out of nothing and I really aspire to be one of those guys. I am the opposite where I have everything and will probably lose everything.

I noticed that I have an abundance of negative energy that has taken a toll on my mental health. I thought I could channel it into something productive, but it was just too much. I got to a point where I didn't even want to trade anymore because it got too painful from my inner rage. I even contemplated sticking around my $6/hour job when it was time to quit because it was safe and made me somewhat satisfied. I felt defeated, but decided to recover. I will still channel my negative energy to be productive, but I will just tone it down. It's time to go back to the origins of why I started which was to find a consistent way to make money in the markets.

It's time to get back to work.

Thirty First: The End

Summary

 -0.84 a share

Fucking Yes! The market's finally starting to heed my call. 

I am losing and I can't get enough of it!

Ticker: LEI

My mind blinded me on the first consolidation for the long. I wasn't following my rules when I shorted.

Note: My eyes are so fucking blind that I missed the first consolidation. I should really pull my eyes out and donate them to someone who really deserves it. I deserve to be fucking blind.

Note: First, I entered this stock poorly. I should have waited for it to actually peak $8 instead of getting in when it goes above $8. I need to feel out what happens after it passes it and holds. If it feels like a small cover, then it usually is. If it holds, then it usually means it reclaimed. 

 

As the price falls, there is low interest so it was bound to come back.

Note: It takes 5 seconds to switch a chart and this is what I missed. WHY THE FUCK AM I SO LAZY TO SWITCH A CHART? WHY THE FUCK AM I SO SCARED OF MISSING OUT? WHAT THE FUCK IS GOING ON?

WHY THE FUCK AM I SO FUCKED UP? TELL ME BELOW and I will give you what's left of my Suretrader account. The money is probably in better hands with you than mine. 

Twenty Ninth: Wishful Thinking

Summary

My dream of losing it all is coming true. I just wish the market can take my money fucking faster and toss me in a ditch.

I've come to a point where I want to lose so badly that I am making shit up to lose.

 Ticker: TGI 

A chart that looked like it hit resistance. But it's beaten up so bad, I shouldn't have even thought of a short.

Note: No shorts to be seen here.

My mind seems to be making shit up here with not confirming with any other data.

Note: Since I was short bias for some reason, I just drew up some random shit with no confirmation.

What it really looked like.

Confirmation for the truth. 

Note: This is what I get for not looking at other time frames.

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.

Fourteenth: Missed Opportunity

Summary

I failed to execute on something I caught. 

 Ticker: AKBA

The daily looked decent for either a parabolic or a washout. I wasn't sure what to look for, so I waited for a setup to form.

Point of interest #1: It is interesting to see what happened after this point. In the case of AKBA, it got rejected towards the pre-market highs. 

Missed the opening move for a long and missed both stuffs.

Note: I need to keep my eye open and execute as I see these things happening. I take notes either after the trade or before the market opens. Not during the trade! 

Note: A reason why I might have not taken it is because the risk would have to be towards $11.84. However, when I was writing down my notes, I put the stop at $11.50+ which might have been too tight. This could have been a place I started small.

The Plan:

Descending triangle forming on AKBA. Looking for a good entry.

Short: 11.35
Risk: 11.50 (15 cent)
Target:  11.00 ( 35 cent)

about 2:1

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.

Eleventh: Kill Me

Summary

Today, I fucked up by not listening to my gut. I fucked up by not following my rules. I fucked up by acting too emotional. All these put together have left me in a state of depression. I used to think that I needed more time, but now I think it's something different. I trained my brain to lose. My win rate since the beginning of December has been 12% which means I only won one out of my eight trades. Maybe all this is a sign that I was made to lose so others can win. Maybe I subconsciously like to lose because it sure looks that way. I am hesitant on low risk winning trades and constantly take trades that are high risk and low reward. 

I think I am going to switch my strategy to actively look for ways to lose. I don't want to win anymore. Hey market, come and wipe out my $1500 account. Come and fucking kill me while you're at it. I don't give a fuck anymore.  

Ticker: FNSR

A beautiful setup.

Note: How perfect can this be? A gap up above all the resistance and clear skies above. 

The opportunity I missed.

Note: After writing this, I think I figured out what was wrong with me. I am scared of being wrong and I must admit it to get better. If I don't admit this, I will never get better.

Note: I need to realize that it is okay to be wrong. 

I tried to play the continuation, but it didn't work.

Note: I am happy how I didn't stick around as soon as I saw the stuff. This is the type of improvement I have been looking for.  

Ticker: UDF

After its lows, the chart came back and I was anticipating a long. This play was a fuck up.

Note: There was no point in time that this trade was viable. I was a fucking idiot for considering this without referring to other time frames.

The other time frame

 Note: Again, I must investigate other time frames to see if the trade is worth it.

Ticker: MNGA

I got in for the lower high, but it went higher.

Note:This chart just didn't work. Perhaps I could have been a little more patient to see if it confirms. 

Ticker: GLW

I ran out of patience.

Note: I ran out of patience and took the profit. The two plays here were to set stop higher and be patient or to grab the profit. Since it was 14:30-15:30, I wanted to grab the profit.

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: History Lesson

Summary

Based on my previous experience, I have stuck to the notion that anything can happen in the markets. With this, I have forgotten a lesson that history tends to repeat itself. So even though anything could happen, I need to remember that there is a greater chance that something will happen again if it happened before. That's the whole game we are playing; we are betting on setups that have worked in the past. It's the only edge we got. 

Ticker: KMI

 

I was a fool for not looking at the past.

Note: It was VinnyB who alerted me to the history of this chart and I noted that it could have been a good short given the history. However, my long bias got to me after I couldn't resist how good the daily and intraday chart looked.

How the chart looked in the daily. I think I would have preferred a higher gap up to play the breakout.

Note: The daily looked good so I immediately had a long biased for this stock. 

Point of interest #1: This is an area I should be watching intraday to see what happens. 

I fucked up my entry initially because I was stupid. I missed the ascending triangle and tried to get in on the dip. My add was decent, but the chart just didn't work. I should have bailed as soon as it started forming a descending triangle. I say this based on the previous history of the chart.

Note: I could have been more active with this chart and got out earlier. However, since I was long biased, I was hoping for a saucer pattern. I haven't seen a saucer pattern in this market in a long time, so that is how bad my bias got.

Note: I expected the dip under $17.20 after seeing it so many times before. As long as it defended and bounced back, I was okay.

A more macro view of the chart.

Note: The first point of interest, $17.35,  got stuffed which meant it was weak. However, it got passed it later on.

Point of interest #2: Anything lower than this price, the setup is broken. 

Note: Notice how the volume grew a little higher, but the bar was lower high. This was the signal to GTFO.

Ticker: SWHC

 

This chart was begging for a retrace.

I got burned because I did not calculate the risk vs. reward on this trade. This was a low risk no reward type of chart. I should have waited for more of a parabolic. This type of setup works better, if the setup was a descending triangle.

Note: I should be waiting for better opportunities.

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.