Broke every rule! Kicking myself in the a$$... Have I learned NOTHING! Got into CEI yesterday at .35 with the plan to get out at .60 but the trade was doomed from the start because I came into this trade really with no strategy and no real reason other than price and % gainer in my screener. It was another impulsive trade based on no real research or understanding of the stock. I also took much too large of a position for my account (5000 shares). Because I didn't do the work, I wasn't confident in the trade and was easily spooked and took a loss of $256.53. Woke up this morning to see CEI had shot up 200%... WHAT! Then the woulda, coulda, shoulda got the best of me. Seeing that had I played it exactly perfect I could have made almost $7000. Then the reasonable side kicked in and rationalized that it was a terrible play and only if I had been psychic and 100% right on everything I could have made that $$$ but it was still a horrible trade and would have just been dumb luck teaching all the wrong things. Kept watching the stock though... Then what did I do you ask? I chased the stock, bought in again @ $1.12 trying to rationalize that I'd take a much smaller position and see what happens. DUMB! Even worse when the stock started dropping I bought in 500 more at $1.09! WHAT THE HELL IS WRONG WITH ME??? Watched the stock go up and down and down and down... My heart couldn't take it anymore. Closed out my position with a loss of an additional $205.89 (VOMIT)...

 

Back to studying. Trading is off limits to me for the time being. I didn't earn but I definitely learned <Ouch>