-Zero regret about my entry and exit b/c I was on the Southern State PKWY and no way to get out.
-the lesson is Never marry this turd. Nail/bailout!! No question!! No overstay!!!
-When my price and time stop loss was triggered didn't get out fast enough. Overstay is stupid and threw discipline completely out of the window.
-Interesting thing was this one got momentum in it:
1) new high after 10am
2)oscillated around VWAP
3)most importantly when the support was cracked it quickly reclaimed which led me to long. I know there were lots of sellers earlier and tons of resistance on top, the stock is bearish unless it breaks above $4.30 level. Why did I think $4.30 is important level?? Because two big volume bar happened there in the morning so I believed these shorts using $4.30 over/under as stop loss level.
-Proud of the two trades I made on IB.
-Bought 1500 shares at $4.35 in the morning but it didn't do what I expected and ended up cutting position at $4.10's. I was telling myself that Jesse said, "what you see a train coming at you 80mph, you get the fuck off the rail!!!! If the stock acts right again you can always get back on!!!! Timing in this case is crucial!!!
-The reclaiming action and $4.30's push got me longed again and I know now it's good time to long because all the early shorts can really freakout and momentum/chasers will possibly step in.
-Got out at $5.38 because the uptrending action is not as smooth as I wanted. It broke out a few times but not convincing and significantly enough.
-Another reason is I won't be able to trade premarket tomorrow so why throw a dice????
KEY POINT:
-Again I thought about this once before but couldn't do it due to nasty humanity and nature. The KEY to survive in the market is not about "Gains" but "losses". It led me to focus on another piece of the puzzle that is often overlooked by 99% of people out there- "POSITION SIZE" which has powerful subconsciousness influence on a trader's judgment and actions!!!!! By trading small, not only you can detach from P&L and better focus on the chart but also that if the trade do NOT workout, you can easily get out without negative impact to your account and mentality and have a better and accurate shot on 2nd attempt!! Remember frustration is inevitable! LOSS is inevitable!! Very often the trade JUST DON'T WORKOUT!!! Accept the fuck it and move on!!!! As long as trade small, you maintain the capacity to comeback! Today I went from $450 loss to $1300 gain is a perfect example of the meaning of trading small on the first attempt!!
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