Today was a good lesson but I honestly am a little proud of myself for actually trading. I used to be so scared on pulling the trigger that I always missed a lot of trades. Today I traded $CLD for a loss of $29 dollars (after fees). I bought the breakout attempt on strong volume but it faked out and came back down. I should've actually dipped bought it at around 6.15 or earlier on the dip at 6.05. Still great and valuable lesson.
I also made it Ch. 15 of Reminiscences of a Stock Operator. Such a good book. It actually helped my out with my anger against the stock market.
"... but I never lose my temper over the stock market. I never argue with the tape. Getting soar at the market does not get you anywhere"
"To be angry at the market because it unexpectedly or even illogically goes against you is like getting mad at your lungs because you have pneumonia."
- Larry Livingston
This was indeed a beautiful setup @$6.08. It held support from previous fake out and red candle @2:40ish also held support of last 3 minutes. A solid play at $6.08. And your thesis was good...very solid price action leading to eod. I know the pain of those pullbacks tho man! Lol you get used to them and let them run their course before reacting. You could have survived both...but the pain! Lol
My 2nd trade TBIO...very similar to yours. Eod 10 min to go...2400 @1.10/share. The second I bought it plunged $.12. Before I could think of what to do it began up ticking. 8 minutes later it hit $1.52 and I got out; panting, shaking, sweating, heart rate of a 120. Lol had I been relaxed I'd have noted it finished spiking and continued into a/h where I could have made $400.
Paper trading is good my friend but does nothing for emotions...need skin in the game to learn that side of it.
@JohnnyIN Thank you for sharing your $TBIO trade haha I agree that it is very similar to my trade on $CLD. And I agree with your opinion on Paper Trading. It is good but it does nothing but give you a "somewhat" feel for the real thing. You need to actually trade to work on your profits.
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