Watch for 29th

I must remember consistency is the key. I must continue these watchlists to give myself the best chance of success.

Main Watch
ORIG - If oil looks weak tomorrow, then I will be looking to short the open or any pops afterwards.

DRYS - I will short at the open if it looks weak tomorrow risking towards $4.

GILD - I'll short on weakness in the morning for a quick washout. Otherwise, I will wait for a pattern to form afterwards to either go long if a trend forms or short.

Side Watch
BCOR - I will be watching for a continuation and will be getting in on any consolidations.

26th: Poor Risk Assessment

Summary

I played some hard stocks to get ahead today, but I gave it all up because of what? I had no reason to play anything after 11am and the setups were terrible. What the fuck am I trying to prove here? My stops aren't even in the right place. Why the fuck am I not letting the chart prove itself to me?

When I am wrong, I will know it. I can't anticipate being wrong because I don't know if I am wrong until I am wrong! I must let the trade pan out.

I have two more things to work on and they are:
1. Setting up the correct risk for each trade. There is no excuse for not doing this because my position sizing has been getting better.
2. Actually let the risk test out before getting out. Usually, the trade either works or I can get out at a better price than the bottom or top.

Ticker: DD

The risk should have been $67. I did not learn my lesson from fucking last time.

Note: All my troubles would have been gone if I had risked towards $67 over/under. I got scared by the stuff and did not give the chart the chance to prove me wrong.

Note: Even stuffs can fails. Everything in the market can fail and I must realize that. There is nothing that is 100% and I must let the chart prove it to me.

Ticker: WHR

I fucking shorted into a fucking dip. WTF was I thinking?

Note: I was not paying attention to the 5 and 15 minute charts. WTF was I thinking shorting this when I should have been relaxing

Note: I really shouldn't be playing anything after 11 or even near 11 because that's when I have been statistically proven to fail. Why the fuck did I play this? I had nothing to prove at this point.

Note: There was no volume!

Ticker: PRGO

THERE IS NO PLAY HERE!

Note: When I am feeling like shit after a bad play. I will shut down my computer.

Note: There was NO PLAY here and even when there is NO PLAY, I must exit out my position PROPERLY by letting it test $100 over/under.

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Watchlist for 26th

I must continue to be consistent in order to get better at trading.

Notes
I didn't expect AMD to fall like that today, but given the charts history, it is something I should have anticipated. The chart gave a good setup for a short and I wasn't prepared for it.

EBIO was a clear miss because I disregarded it since it was on my side watch. I must review all my watch list charts in the morning or else I wasted my time.

Main Watch
VKTX - I am still looking for either a gap towards $2.20s or parabolic towards there. Same plan as yesterday. Consolidation with volume pop and long or gap and short.

MCUR - Same plan with VXTX, but will be looking for that consolidation or fade/reclaim in the morning if it doesn't gap.

PRGO - I will be looking for a STX style bounce in the morning and more fades.

XRX - Same thing as PRGO. I will be looking for more fades after a bounce in the morning.

LGCY - Looking to short into any stuffs in the morning and risk towards $3.

Side Watch
NEOT - I might short if it looks weak. 

25th: Stop Too Tight

Summary

I missed out on a huge move, because I planned my risk like an idiot.

Ticker: PRGO

Looking to short the bounce and I got in a bit early. I had good sizing, but I had the wrong risk. I risked high of day instead of risking off whole and dollar marks.

Note: I should risk off of whole and half dollar marks for higher priced stocks.

Note: I should be watching higher time frame charts for higher priced stocks. 

Notice a mistake? Let me know below

Watchlist for 25th

This is my first published watchlist in a while. I will only focus on well thought out ideas from now on.

Main Watches
AMD - Looking for continued breakout.

VKTX - The daily looks okay, but really looking for some volume after consolidation to play long. If it gaps and already goes, I'll be looking to short around $2.25s+.

NGL - Looking for a pop and will short risking high of day.

Side Watches
EBIO - Not sure yet on what to do.

Playing Not To Lose

Nothing has changed. I have not learned from my own lessons and every trade I've been taking has been reinforcing my bad habits. I can't blame anyone but myself. My head is not in the right place because I have been playing not to lose.

My cycle has become losing confidence when I trade poorly, not trading when I lose confidence, and trading scared when I trade. This is the cycle to failure and I need to snap out of it. I must assume that all the money I put in the market is lost and trade with no pressure. Even if a trade doesn't work, it doesn't matter because there will always be a next trade. I just have to make sure my plan minimizes risk and trade correctly.

I have noticed that my two biggest problems right now have been my poor entries and sizing. These are the biggest culprits of how I am losing the majority of my money. These are the only two problems I will fix until they are eliminated. Once they are, then I will move on to my other problems.

I have been talking a lot of bullshit lately and haven't been taking action. Now I will take action.

18th,19th: Don't Short Weakness

Summary

I must keep working hard on eliminating my bad habits and building more confidence for my trading. The only thing left that is keeping me from winning is myself. Every minute I spend NOT sharpening my skills is time wasted and I don't have a chance in winning if I slack off. I might be laughing it off now, but I guarantee myself that I won't be laughing anymore if I blow it. 

I have to realize that the time I have now is a gift. I am the luckiest person in the world right now with a golden opportunity to succeed. There is no excuse to fail.

Ticker: C

How the chart looked like on the daily.

Note: The chart looked good for more weakness.

 

I should have realized the higher low coupled with the fact that the market was going higher and covered earlier.

Note: Covering earlier and eliminating my risk should have been my top priority. The action it gave me screamed that it wanted to go higher. Also the fact that the market was ripping upwards was a clear sign to get out.

 

Note: I must take whatever the market gives me and react accordingly.  

Ticker: PTCT

The daily chart

Note: The chart had some good potential of pushing up.

Horrible entry.

Note: I had no business playing this chart and had the worst entry I could possibly get. Luckily I noticed and got out early.

Ticker:NFLX

Horrible plays overall.

 Note: I shorted weakness for some reason and on a stock with SSR on. I didn't have wide enough risk and my risk vs. reward for each were horrible.

Ticker: PM

Horrible plays again

Note: What the fuck? I keep shorting weakness and longing pops. This should have been eliminated from my trading.

Note: I keep rushing into trades. I must chill and be patient. 

Notice a mistake? Let me know below!