TIME TO BE ACCOUNTABLE
This is hard to share I’ve been trying to learn to trade for about a year now and I don’t seem get it or I am creating bad habits. Through this experience though I learned this is not emotional it is systematical. There is a system at play here and I WILL see it. I started the DVD trading tickers and the frame work part Deux. Going to paper trade for a while focusing on supports and resistance levels, and get back to basics. If TIM Sykes, TIM G, TIM Bohen, so many Tim’s lol Mark Crook, Matt Monague, Jack Kellogg, and Rob Booker. If they can do it I can too, what one man can do another can do. I follow all these guys and try to learn from them. Not follow them as they trade it is important that I learn this so I am independent. And self-sustaining. I loose sometimes because I don’t give things time and I get scared out but not in this story it’s just the opposite. And on the stock, I mention below I finally saw the framework unfold before my eyes. Legitimately for the first time from start to finish this week I watched this ticker. VIGL the number 1, then 2. The 3, 4 and a retest of the high 3,4, again, the 5, and 6 got out at the third ball bounce when it hit me in the face. And I continued to watch as they price fell just like they said it would in the long kiss goodnight.
6/26/24 WENA totally did not trade my plan. Bought right before the open I knew it was going pop from the technical’s I’ve seen this set up before and knew I had to be quick in quick out. Bought 500 shares at 4.61 and out at 4.70 right at the top saw Level 2 changing and got out small profit of +35.92 which brought my account up to 3K doubled in 2 weeks. 100% profits. Knew I should stop right there walk away take the money met my trading goal for the week. (JUST CLEAR 3K AND DONE!) but did I walk away I BET YOU CAN guess but my trading week went to shit right there, I literally lost my mind, I threw out everything I learned EVERYTHING!
6/26/24 WENA in again smaller 100 shares at 4.09 and it went against me this time out at 3.55 loss of -27.02 and let the revenge trading begin.
6/26/24 WENA 20 shares at 4.00 and out at 3.32 loss of -13.61
WENA 50 Shares in at 4.16 out at 3.52 loss of _32.04 perfectly against the price action I mean I couldn’t hit the tops and bottoms this good if I tried. Getting frustrated now
WENA 20 Shares in at 4.09 out again at 3.549 perfect top and bottom just backwards again. Loss of -10.80 now just fed up and pissed
Total down so far -37.82 Manageable and not bad considering but I am full on revenge trading now.
I logged into my margin account and figured I was picking tops and bottoms backwards I would short it. Yeah I worked for my losses this week.
2/26/24 WENA Short 200 shares at 3.38 with locate fee of $12.00 per 200 shares total of $24.00 in fees.
And 200 more shares @ 3.65 figured fake TOP!!! BOUGHT TO COVER @ 4.24 loss of -289.00
Now I figured everything changed and bought long again400 shares @ 4.37 and sold when it went against me again sold @ 4.03 another loss of -135.88 bought again at 3.73 and sold and threw my PC at 3.46 loss again of -134.95
Total LOSS OF 567.87 plus 24.00 with fees using all three-day trade in my margin account, all the cash flow in my cash account lucky I didn’t blow up WOW I was out of control full on degenerate gambler mode.
6/28/24 Friday ticker VIGL bought 600 shares on 6/27/24 at 4.69 (FOMO) wound up to be the top. And at resistance too started down ticking almost immediately. Held all day knew I was breaking rules!!! Thought it could be a swing trade (contract winner) how I reasoned it in my mind. low was 4.32 after I bought. It tested again at 4.77 didn’t sell I missed my shot thinking twice about it. Again, broke a rule. Stayed up all night which brings me to 6/28/24 at 0700 I’m able to trade premarket price is 4.22 I bought 200 shares and then 25 more at 4.16 and got my average down to 4.4848 get this at this open it climbed up to 4.57 on the first 5-minute candle and I froze and missed my shot to sell and get out and save my ass yet again. Held until 1345 hrs. and sold 625 shares at 4.22 for a loss of almost 10% of my account
CUT LOSSES QUICKLY, no HODLING, REASONING, AVERAGING DOWN, to name a few rules broke in a single trade. DID I DESERVE THE LOSSES I collected this week NO! Did I earn them OH hell yes I worked for the losses… Total loss this week -845.52, and -24.00 in locate fees. Almost everything I made in profits this month in trading. Because I was emotional and following not putting into practice the things I’ve learned NEW BE MISTAKES that cost me big.

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