TWTR Trade on Jun 17, 2014 11:10 from pstark89: Tradervue User Stock Trades.

The question you might want to ask here is, what was the setup you were using when you entered? Was it a bear flag setup or were you just trying to get in on a strong down-trend?

If it was a bear flag, was it really a bear flag - did the volume pattern support that? From the looks of it here, the volume on the pullback (green candles) was higher than the volume on the pole (red candle), which means it wasn't really a flag.

If you got in just as part of a down-trend, that's not a bad move - stocks in motion tend to stay in motion. However normally you want to enter on a pullback to minimize your risk. If you'd entered on one of the green candles, you wouldn't have risked as much or lost as much. But even so, for a down-trend entry, there's 3 things that would have made me cautious:
1. It looks a little extended. Been down for almost as long as it was up.
2. There's an intraday support level at about 37.2. That means that even if it continued down, it would likely have bounced some at 37.2 (fairly low reward:risk ratio).
3. On the daily chart, the stock has been going nothing but up lately. All intraday patterns are more likely to resolve in the direction of the larger trend (on the daily chart). So the pressure on this stock is up, making the extended down-trend even more of a risk on this one.

Final Note: Note that you had almost the exact perfect entry for a long on this one. There's a couple important things to think about with this:
1. You have a good timing for entry points, you're just sometimes getting the play reversed. Don't feel bad - I did this ALOT at first, and I still have days where it seems everything I do is backward. But your timing is good. So my suggestion is, every time you're about to enter, try taking 1 full minute to consider the case for entering on the reverse side of the trade. If you're planning a long, make the case for a short, and vice-versa. You may find that the case for the opposite play is better, if you take the time to think it through.
2. Just because you called it wrong doesn't mean you have to just get out and take the loss. Once it goes against you, consider getting out quickly and then immediately reversing the position. If you'd gotten out where you did, and then gotten back in for the long, you could have made twice as much as you lost. This can help you on those days where, despite your best intentions, you still seem to end up on the wrong side of most of your trades.