Daily Trade Review
Friday, April 12, 2019
I blew up this morning and traded on tilt. I chased three times in a row and lost quickly and badly on all of them. At this point I am back to even on the month after all the hard screen time to set up for good trades. I was making great progress. I know I have to eliminate days like this. With the risk that I am playing right now that cost me about 8 trades. Getting trades and screen is one of the most important things I can do. I honestly could not have been more wrong on WFC and should have stepped back after the first run when I entered with out making sure I stayed with my risk limit for the first trade. That led to a thought I could make it up quickly. That stopped out quickly to and then I increased to 1000 with a tight stop and lost that one too.
These were really all no plan trades and that just cannot happen. I want to short this. But, I never waited for the setup and took myself out of the game today pretty quickly.
I got the last short on WFC and made up most of the loss. I could have held longer and been positive. I did pull another short on and got the total loss for the say almost down to my limit. I took a trade on DIS and it got stopped. I could have taken a small profit. I am trying to get into it as a trade to hold so I fired the trade again and got stopped again. I hesitated on the last break of VWAP and DIS ran up from there. This hurt a bit. I almost would have to say that I should not allow myself to trade over 100 hundred shares ever. At, least I can let things play out a little. I am just battling commissions when I play the game that way.
I am about twice my daily loss I have wiped most of the month so far.
This was a matter of lack of patience at the opening. I could not have played that worse. I FOMO and kept the loss reasonable. I guess I was over convicted on the early short of that got me in trouble on jumping at a second short. I raised risk again on the last trade before I walked away and gained my senses. The fourth short was just lucky that a new catalyst popped and ran quickly for me.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-12 09:37:59 | WFC | sell | $47.641 | short |
2019-04-12 09:37:59 | WFC | sell | $47.641 | short |
2019-04-12 09:38:25 | WFC | buy | $47.960 | 0 |
2019-04-12 09:40:21 | WFC | sell | $48.081 | short |
2019-04-12 09:48:00 | WFC | buy | $48.430 | 0 |
2019-04-12 09:50:09 | WFC | sell | $48.280 | short |
2019-04-12 09:53:53 | WFC | buy | $48.520 | short |
2019-04-12 09:53:53 | WFC | buy | $48.520 | short |
2019-04-12 09:53:53 | WFC | buy | $48.520 | short |
2019-04-12 09:53:53 | WFC | buy | $48.520 | 0 |
2019-04-12 10:17:54 | WFC | sell | $48.685 | short |
2019-04-12 10:28:38 | WFC | buy | $47.445 | 0 |
2019-04-12 10:57:47 | WFC | sell | $46.777 | short |
2019-04-12 11:06:31 | WFC | buy | $46.550 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!