I'm a Loser

 I'M A LOSER

Since we last talked, I traded away a fuck ton of money because I'm a undisciplined piece of shit. I'm no 1337 trader; I'm a fucking fraud. My positive thinking is shit because I've been lying to myself. I ignore my own advice because I think it's all fun and games. My trade reviews are unclear and unfocused. I got my head stuck so far up my ass that I don't even realize that I'm pissing all my money away. 

Does this mean I quit?  
NO

I have to start over and do things the right way. It means constantly making trade reviews to keep myself accountable. It means slapping myself five times before I confirm the trade. It means doing whatever the fuck I need to do to get back on track. Trading is very rewarding but is no joke. I must be always on my A-game to even break even with commissions. Anything else and I'm just wasting my time.

The reality is I either change now or I should just give all my money to some bum on the street. He'll probably use it better than I can.

So to end, some wise words from VinnyB: "The money is out there, you just gotta take it or I have no sympathy for you".

Piss Poor Trades #2

The Laydown

My trading seems to have gone to shit recently. This coupled with revenge trading, my $2500 account dwindled to $1600. This is pretty bad. However, I will keep improving by discovering mistakes I have made while trading.

Here are my trades.

Ticker: RMTI

Date: 06/25/2015

This is how the daily chart looked like. It gapped up that day and popped before going down.

 

I started too early because I expected a failed follow through. I did not give it enough time and started with a bad note. Afterwards, I was just too scared of the trade and got out once it didn't work. I did not respect my stop and paid for it.

Lesson #1: I should be more patient on plays, especially with a smaller account. I need to let the chart play out and make sure it is set up before going in.

Lesson #2: I should respect my stop and let it do its thing. If I cannot respect my stop, I should not be in it in the first place because it is too risky to play.

Ticker: NVAX

Date: 06/25/2015

I played this chart okay, but I could have done better. My entries were a bit off and I could have sized in more.

Lesson #1: I need to give a stock more room to play out. Again, if the range is too much, then the stock is too risky to play. I need to remember that given my account size now. 

Lesson #2: I cannot be afraid to size in if I am right.

Ticker: EXEL

Date: 07/24/2015

I shorted because it broke the trend to the downside. Unfortunately, the bigger picture was a long. I just played a short term technical thing. I need to get it in my head that there is always a bigger picture and I should catch it before I lose anymore money. 

Lesson #1: I need to realize the bigger picture. If a setup looks like a long, then I should follow it long. I should not short it because of small technical moves. Those moves can be set up for the bigger picture.

Lesson #2: I should not add in unless I was right about the trade. I added in too much size without knowing I was right or not. This is how I can lose big money. 

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.

Piss Poor Trades #1

What's up folks?

I'm have been trading everyday for the summer, but have been too lazy to make a post everyday. This has slowed down my progress greatly and does not help me learn as effectively as possible. I decided to change this and do a series on the worst trades I took and how I could have prevented it. This should help me review these charts and let me know how to avoid them in the future.

So here goes nothing.

Ticker: ACAD
Date: 07/15/15

The chart was overextended on the daily so I decided to give it a try. My first attempt was was @ $51.07 because I saw a higher low and thought it was done. It quickly trended up which was a sign I missed and went higher. I covered @ $51.65 which was bad. I tried again at $51.60, but it came back before it came back down.   My stop should have been @ $52, but I just decided to say fuck it because it didn't look like it was going down anytime soon.

Lesson #1: I need to set stops quickly on fast moving charts or I will get run over if it goes against me. 

Lesson #2: I should play smaller size because it was the front side of the move. Playing with smaller size would allow me to be patient on the play and set my stop to the appropriate amount. I can even add in once the chart looks weak.

Lesson #3: I need to recognize long consolidations faster so I can get out more quickly without losing.

Ticker: NCR

Date: 07/20/15

I tried to play this chart because of the quick parabolic upwards. I again played the front side and did not get out when I saw the consolidation pattern. I re-shorted, but got out. It eventually worked, but it's not how I want to play these types of stocks.

Lesson #1: I should remember to look at previous days that had similar action. The day before did the same thing and I did not heed its warning of a second leg. 

Lesson #2: I was thinking about holding it for a swing, but I realized that this was stupid because I didn't even know the news. I need to stop thinking about swinging things if the chart doesn't go my way. 

Lesson #3: Since this is still the front side, I need to use smaller size to limit my risk. Then, I could add in if it went a little higher instead of stopping out. 

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: Getting Lucky

Summary

Another lucky day for me because of JUNO. I need to play better or else I won't get lucky anymore. 

Ticker: SGNL

I got in because of the parabolic move in the morning knowing that it was going to drop. I started short after the second lower high and added to it at $2.15. I was just stupid for not selling when it based 7 times @ $2.10. Once it had a higher low, it just went up again. I was kind of on emotions when I went full size @ $2.23. so that was just bad trading. I covered @ $2.16 before end of day run.

Note: I gotta stay cool or else I'll lose everything. 

Ticker: RADA

RADA was making another run so I thought I'd give it a try. I just didn't see the short potential because I was too biased and blinded by my stupidity.

Note: I need to keep an open mind and analyze the chart well before I make trades like this. The patterns were there, I just needed to recognize it. 

Ticker: JUNO

I missed the morning move which was a shame, but I kept waiting for a grind upwards. The grind was good and all it took was CNBC to push it over the top. I then shorted for a scalp and that was it.

Note: I can't rely on luck to win because I am not lucky. I gotta keep sharp and keep practicing to win.

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.

Thirtieth: Persistence

Summary

Today was definitely a lost day, but I was able to get lucky and recover. I need to be more patient or else I will not get lucky. 

Another reason I was able to comeback was my persistence.  If I gave up for the day, I would have never spotted the move.

Ticker: SGNL

This thing was running so the first low higher low I saw, I took. I should have waited though because it was definitely still the front side of the move. There was no setup and I was entering in blindly. Later, I thought it would try to reclaim $2.66 for a $3.00 breakout, but it was wishful thinking.

Note: I should wait for better setups.

Ticker: CLD

This was my fuckup of the day. It looked great from the consolidation, but I did not buy in to anticipate. When I entered, I was late and entered with big size due to emotions. I fucked up. 

Note: This was a complete fuckup. I used size when I shouldn't, but I also did not enter correctly. This was a $50 loss because of emotions and BAD TRADING! 

Note: BADDDDDDDDDDD TRADINGGGGGGGGGGGG. I shouldn't trade if I am to do this again.

Ticker:  JUNO

This was a momentum play for me. I was lucky I caught it.

Note: I stayed persistent to catch this chart. If I quit earlier, I would have missed it. I guess the deal is

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-ninth: Small Victory

Summary

 

A small victory today. I nailed this chart, but failed to realize its max potential. In a sense, I missed out on the full move. I became lazy with my posts throughout June because I was losing big with poor trades and I was a bit lazy. I decided to stay quiet to focus and come back. I might have got lucky today with this trade.

I need to keep focused or I will fall off the train.

Ticker: MU

I saw some consolidation near 19 and that coupled with the fact that it was low of day before. I decided to get out and take my profit.

Note: I could have squeezed this chart for all its worth, but was not focused enough to do so. I thought I needed to leave earlier so I might have cut it short. This could have been a bigger win, but I blew it. 

Note: I need more focus. 

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.

Eighteenth: Da Grind

Summary

I'm back and I'm trying to grind away. I made some solid plays, but also committed a few errors. There was a chance that I made it today, but then I threw it away because of greed.

I need to keep improving or I will die. 

Ticker: SGYP

So I shorted the lower high instantly and got stopped out. My risk should have been at A, but I just thought it was too much. I Bot @ $8.42 for a long, but it did not break out as I wanted to. It took the rest of the day to consolidate higher and break out.

Note: I have to be patient. Especially with my account.

Ticker: ANTH 

This is how I thought the chart looked like.

It went higher the rest of the day holding the support.

Note: A quick parabolic followed by a 100% retrace is not the best place to short because its already made a huge move already. Better be more patient to see what happens later.

Ticker: RMTI

The chart looked like that. It retraced the big moves, but it seemed like it held.

I shorted when it dropped, but it triple bottomed holding support and grinded back up. This is a warning sign of when to cover.

Note: I made a few mistakes here and there that shouldn't have been. I'll do better next time. 

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.