This was a pre-market gem on contract news. Dipped on the opening before surging up. I watched it surge up and come back down before entry. My plan was to ride up closer to 4. Wasn't able to get there and I didn't exit on the small bounce. The gains were not enough to breakeven so I held out a little. Entry at 3.02 and exit at 2.82. A couple of things....

1) Too slow on the trigger. Should've been seeing the consolidation and jumping in. Too busy thinking about which took away a potentially profitable day. I'll have to be quicker.

2) I chased a little and waited for the market to come back to me. Could've had a green day.

3) I did do some research pre-market looking for resistance points so I knew what I was looking for in gains. Had my exit point but I did have to wait for it to come back so I could cut intelligently. This reduced my loss.

4) I kept my trading size down which has helped reduced the total lost.

5) I cut losses quickly. This doesn't seem to be an issue but I do still get all of the emotions that come with the ups and downs of the market but at least I know when its time and am able to execute the exit on a loss.

 

I am going to stop trading for the time (try a week first while still watching the market) and continue learning. This was suggested in the webinar chat today and I've come to the realization that this is part of the process. I will continue creating watchlists and videos of what I may have done in some of the trades (if I had bought) or what I have learned for the day as I find repeated reviews through video and writing are helpful to ingrain into my brain what I am learning not to do or do.