Today was probably the worst trading day I have had yet to date. And it was not so much due to the $ losses, it was the actual trades themselves.
On my trade with TITXF, it was not even on my watch list. Every single stock I had on my watch list happened to fade this morning. Every. Single. One. So of course I went to see what's heading up on the % gainers on STT. I found this stock and was able to get in at .44 on the like spike heading up. It happened to hang around .445-.45 area for a little bit and then just never could break out past. It down ticked to my risk and I got out. It hit my risk and I got out. Was proud of this trade
What I am not proud to say, and it embarrasses me to say is my next 2 trades. I know I only have 6 day trades per week. And after loosing on this first one, I should have just stepped back and waited or not traded at all. TITXF was not that bad a trade so I decided I would just keep an eye out and watch for other plays. This happened to me being in the chat room and looking for others alerts on what was breaking out that I did not see. Then of course there I go chasing again buying stocks that are breaking out and not on and support or above any resistance. I have done this countless times and almost every single time it seems to kick my a$$ and send me home with a loss. You think I would have learned by now not to chase. And on top of that I was emotional. Trying to make back my losses and go green on the day.
My last trade on LRTTF was not too bad but the stock was just so slow. The thing was just bairly creeping up every couple minutes about .01 cent. It had crept up then started to curl back and I was out for my little loss. That trade was not bad. Tight stop loss. And did not hit my goal so I got out. But I got in not doing any research. Not having it in my watch list. Chasing. I could go on and on. So I need to take a step back tomorrow and not trade at all. I am going to go through all my losses and see if I can find a pattern here as to what I am doing wrong and try and fix it. Need to save day trades. And get this damn pattern down to become successful and consistent
this is why trading is so hard - the emotional sides - i have just the same problems as you - i go chasing after alerts etc - but im doing it less and less and that's whats important - to get better ! Remember - this is not a sprint - its a maraton! good luck - study hard!
yo bro, your not alone, same chase mistakes for me in my 4 losses. As I read my trade journal the question becomes why? Prep, study, forget fomo, and patience for the trade to come to us. Good Luck!
@asfricksrs thank you bro
thank you very much@Torkers
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