I haven't had this kinda day in a long long time, since I started blogging I haven't really had a big BIG losing day. I try to keep my risk to a minimum but I guess this type of day had to happen. It was a -$113.45 day. Considering I only risk $10 regularly, I lost 10x my risk! The bad thing was I actually upped my risk to $20 which meant I was trading with more shares, it truly did back fire. That is unacceptable in my books. My first trade I lost -$46.89 in the first 13 minutes, that was a big hit, right then I thought to myself "ok lets try to make some back" I should have just stopped trading after taking that hit, I guess I wasn't mentally prepared for a massive f*ck up. I traded 10 stocks, only 2 were winners, both winners were very desperate trades. Since I had 8 bad trades, I don't have time to upload them all. I will upload 2.
Bad Trade 1 - $ADK
Bam 13 minutes into the day and -$46.89. I had absolutely no planned entry, no game plan which left me 'hoping' that this would work out for me, obviously it failed. This stock had NO volume at all, it wasn't even tradeable and I did it. Tha Fawk?
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Loss: -$34.22. As you can see in the picture, read the purple font, god knows why I even attempted to trade this idiotic setup. I feel embarrassed posting this shi*t. Again, tha FAWK was I thinking? Not only did I lose money the first time, I went in again and lost even more. Rule in the hood: You never touch the hootchies twice.
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I had written down exactly what I wanted to do with $FDX but my attention was on the stupid Bad Trade 1 - $ADK play. So when I actually got around to seeing what happened to $FDX the play was already gone. The sad part is, later on in the day I desperately tried make some money off of $FDX and lost money. This day was so emotional, so sad, such a fail, I played all the ugly plays, missed all the good plays and made money off the bad shit*y paying plays. Click this link right NOW to see how similar this play was to the one I missed a few weeks ago.
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Winning Trade 1 - $HUM
I wouldn't even call this a winning trade, it was an embarrassing attempt to make money. Horrible setup, though it did pay, I would not take this type of play again, I would not take this play again is because the stock came back toooooooo tooo much. For an ideal short setup I wouldn't want it to come back after a decline like that that much, I would like just a little little bit retracement and then go in heavy.
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Winning Trade 2 - $CLB
This was a really late play because the original play happened after the 3rd candle. The play happened on a smaller candle time frame possibly on a 5'minute candle chart it would be easier to see the setup happen in the morning, but on the 15' minute candles it still worked but the entry was hard and risk to large. This was desperate as hell but what could I do, I was having a bad day. I made almost $40 off this trade, it helped me bring my losses down but then again I also had 8 other bad trades.
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All in all, I over traded, I under planned which meant all my trades were overboard, all positive traders were underpaying. This is not what I want, if I ever have a losing day it should not be more than what I risk per day. So if I am risking $10 a day, I do not want to lose more than that. If I do, then tomorrow is another day. Taking a hit like -$113 is massive, its disgusting.
Click on links below to view my previous trades: My Office Watchin' them Stocks Twerk...Woooooo |
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