Good morning my fellow traders!!

 

      I hope all is well and you have a great weekend!! 

      Just wanted to record this stupidity for posterity!

     I was happily NOT trading at work and I saw my man Timothy Sykes say he dip bought TRXC.  I said, WHAT THE HELL!!  I saw the alert right away, I am just chilling here at work doing nothing, I haven't traded in about 4 days...let's DO IT!!!!

 

     I bought in at 4.46 and of course I was immediately called away to take a look at some issues happening on a system I maintain.  No time get out of the trade, set a stop loss, NOTHING to protect myself....When I get back to my desk it's sitting in the low 4.20s so I dump it ASAP.....out at 4.19.  If I would have just doe the smart thing, NOTHING, I would have been good to go!!  But, instead of prepping to trade and knowing what's up, I just jumped in and got burned!!  Oh well, dum sht happens when you are learning and that definitely taught me a lesson.

 

     The other dum azz part of this trade was the price.  I am only playing with 2K.  WHY THE F*** am  I buying $4.00 stocks?  I need the stock to go up a buck to make any money after commissions.  I have had some success with lower priced stocks and high volumes of shares...I need to focus on THAT instead of doing dumb azz things like this with HIGH RISK and a reward potential so small for ME personally, that it won't even cover the cost of my trades.  Once I make better decisions, I will dump more cash in here and turn up the heat a bit.

 

     Until then....videos, reading, and deciphering the charts so they make sense to me and I can attack properly.

 

( One other stupid azz thing is...I jumped into $NETE at .43 and have just been riding it...I told myself I would dump at .35, but "luckily" I held on and it is almost back to my original entry.  It's only 1500 shares so I will just see what happens Monday and be prepped to sell either way depending on action if it's the right move! )

 

Have an awesome weekend! 

 

Update - I also want to say, I have NO PROBLEM getting out of a trade when I am making money...I take my profits and hit the road....but gotdam if I am still a stubborn jackazz when it comes time to SELL the stinkers...Definitely have to set a mental "Stop Loss" and execute no matter what...AS SOON AS I SELL, I am relieved and live to fight another day....but all the way up until the moment of execution I am like, "IT CAN COME BACK!!!!"  Mental pushups are needed to be stronger!!  :)