AMBA Trade on Mar 6, 2019 10:10 from ValeriuMoraru: Tradervue User Stock Trades.

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ValeriuMoraru

 

Initial Comment:

My emotion were controlling the entirety of this trade. I wasn't angry or something, i just freeze and for some unknown reason i let it go so far... The next trading day i will impose my self again to not let this happen because it ruins everything i have worked for.... RIP

Proper Prep:

I analyzed the chart and so that 75c was resistance. Because of that i entered at 67c but for some magical reason i got 62c and that really made my head to stop thinking logically. It tested the 50c area and didn't drop, and because i'm a greedy idiot i didn't cover. i was going to cover at 30c because there was a longer term support.

Hard Work:

I did watch the tape and in fact it had slowed down and it was struggling with 70c-75c. They were buying on the ask but the offers didn't go up. The volume was very light so that could had been a giveaway to understand that when it touched support at 50c and it wasn't dropping, that should had indicate me a reason to cover, instead i was a greedy idiot and started HOPING (influenced by the anger/frustration from the other trades)and let it go. When it started to get against me i had many many opportunity to cover as well, like 80c or 70c areas but i didn't for some reason.

Patience:

I was patient to lose this trade...

Detailed Plan:

My plan was to get short near 70c or 75c (instead i got 62c) and cover if 75c get taken. My exit was 30c area because of longer term support.

Discipline:

I didn't cover and started HOPING. My logic was long gone and my emotion were in control.
So in essence i wasn't disciplined, i broke my Rules and my stop loss.

Contribution:

NON

Reviewing:

I can say many things about this trade; that is bad, that i didn't have enough Focus, that i let my emotion take the wheal, ecc... What really anger me about it, is that i broke my RULES and my stop loss. It's incredible how useful is the stop loss and a rule to keep you to cut your loss. It can save your account and live to play another day. I hate when i break my RULES i fell bad for the rest of the day. I have to analyze my day and understand what is causing me to behave this way, because I'm not doing this mistake every day, only in certain day when i have determined or random things happening to me. (I'm not blaming anything or anyone, the cause is just me, but i think i can eliminate this big drawback by analyzing certain behavior or habits that i have, and then get ride of it)


Execution detail:

Date/time Symbol Side Price Position
2019-03-06 10:10:09 AMBA sell $42.620 short
2019-03-06 10:34:31 AMBA buy $42.510 0


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