This was an awful trade. I spotted this yesterday at about .0065 yesterday which I believe was up 200% at the time. STT didn't show me any news at the time of me spotting it so I chose not to trade it due to me thinking it was too overextended without news. Turns out I was very wrong and I was kicking myself all day yesterday. I woke up this morning with it on my watchlist as a morning panic dip buy and I like to buy things on dips once they reclaim VWAP. Did exactly what I was expecting it to do. I've lost like 13 or 14 trades in a row now and it's really messing with my mind. I have no confidence in any single play or trade I see. Every time I find a play and I'm at the trade confirmation screen I say in my head "WELL WHAT IF I'M WRONG AND THIS FAILS". This is usually proceeded with me cancelling the trade screen out and it usually runs without me in it. The only thing I'm good at is cutting my losses quickly, I truly don't know if I have it in me to figure this whole thing out, I'm trying to stay positive but I'm just fed up with the constant losses over and over and over. I've lost all confidence and I don't know how to get it back. I haven't seen a green trade at all since I restarted in mid FEB. I don't see the light at the end of this tunnel. SORRY FOR THE RANT I'M PISSED AND WANTED TO VENT SOMEWHERE.
This was my second watch this morning after $RGBP. Had pretty good news this morning and had a low float so I was interested in a weak open with a reclaim of VWAP.
Thanks for sharing this. What we aim to do is hard. I am in the exact same position as you, I tried to re-start my trading around February and have taken a fairly nasty string of losses myself. What I have been doing is looking at my past few months and trying to see everything I have done right win or lose. Hope it helps, this can be hard. Keep your head up, one day you will look back and be surprised how far you have come.
Also I re-read this post, you have a line where you say "all I am good at is cutting losses". Based on your post you displayed a couple skills: 1.isolating plays that fit your strategy 2. picking the spot to buy that fits your strengths 3. Continuing to try after taking losses
@Chevon Thanks for the kind comment made me smile in a pretty dark time of my trading career. I've taken sooo many losses in a row at this point that It's messing with my judgement on what's good and bad. Was too afraid to enter on $ADHC at .0146 and $KNOS at .10 this morning due to the massive string of losses. Just to afraid to take more losses. Best of luck to you and i'll be keeping a keen eye on your journey. We will both get this! Patience is key.
What I have been doing is isolating key mistakes and working to fix one mistake at a time. For example for me when I go long I like to look for pullbacks, but I started losing money when I got away from that. So now I am taking this whole week to focus on just one skill and its worked wonders.
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