Been studying for a while now.  Still not profitable.  And this is why.

 

I made so many mistakes, like a newbie. 

Midday trading is dangerous, can turn on you quickly.

I will be very specific because I am trying to learn.

1.  Bought POLA at 3.90.  Immediately, like the next few seconds had a huge red candle.

2.  I should have bailed was hoping support would hold.  Bought some at 3.59.  That was second mistake, adding to a losing position, especially when under VWAP.

3.  Broke through my next support line which was in the 3.50s.  Another signal that I should have bailed.

4.  Broke through more support, which was 3.40s for me and pretty much the low of the trading session. Added a few more shares, a total of three buy ins.  Trying to see the bottom, and catching a falling knife.

5.  Hit the 3.20s and I bailed.  

I turned a small loss and increased it 10X.

 

As I am writing the blog, it found the bottom (right where I sold) and perked up to my breakeven which was 3.68 at that point and perked at 3.87.

I'm out with loss and the stock ran without me.

 

I am not sure what the lesson here is but just wanted to write my thoughts down.  I think the best thing would have been to cut losses during the first big red candle and wait to see where the stock flushes to the backside.  I was in the stock an hour trying to figure out a way out where I could have exited the position when it first went against me and then looked for an entry point later.  When frustration is coupled with time, it's easy just to give up.  I did give up when it broke through three support lines and then it rocketed without me.  Didn't blow up my account, small loss, get to fight another day.

Don't give up, keep studying.