I've been told keeping a trading journal is a good idea. So, like many traders on proftly I'm going to have weekly recaps to highlight the trials and tribulations of each week. 

 

As a quick intro I'm a new trader looking to learn the skill. I've been on profitly for maybe a year but mostly inactive. I've wanted to get into trading for awhile but my professional life always kept me away. Now I finally have the time to be dedicated to learning and am going to do so.

 

Today I traded LTBR with some success and failure ( shown below ). I've been listening to steady trade podcasts and watching videos of all types on various trading strats. I decided to try dip buying morning spikes. My crude criteria is big percent gainer, must be out of previous channel ( breaks current resistance ), no/little overhead resistance and of course a good catalyst.

My first trade (blue is buy red is sell) went really well. The stock opened how I wanted, little buy pressure then sold off for awhile. Once a few green candles stacked and the volume uptrended I got in. Essentially sold off right away as my goal was to sell around 3. Happy with this trade.

My second trade (next blue and red ) was ok, maybe. I was thinking that shorts came in around 3 and the stock could short squeeze. It built a base around 2.60 and started climbing from it. Once it broke a day resistance of  2.77ish I went in. My goal was to get out around 3 again. I held for alittle bit but then got shaken out as the vol decreased and I thought the stock could dive on the day.

My third trade was a fat finger trade. I had made an order to buy some shares that didn't get executed originally ( new to etrade ) and didn't notice until 10:45ish that the order executed and I was back in (didn't want to be). Once I notice I quickly got out. Not happy with this as it put my account red on the day and it used my 3rd day trade. That being said since I didn't plan on doing the trade I'm basing my day off my first two trades which went ok.

 

In the future I'll be getting some DVD's and depositing some money into my account. Money is tight so it might take time. If you have any suggestions on DVD order ( which ones are a must first) I would like to hear your thoughts.