CLVS Trade on Nov 13, 2019 11:36 from Chigozie: Tradervue User Stock Trades.

Why did I want to take the trade?

5-minute flag setup resolution.

What did I see?

5 minute flag resolved, I missed the entry at 5.45 because I was away from computer. Came back and saw it break out above the 6.45 level, so got in thinking it would hold 6.50.

What was the downside potential?

Couldnt hold and sell back down to start of breakout.

What was the upside potential?

Continuation to 6.60's.

How did I manage the trade?

Poorly. Entered with 300 shares after it broke and was away 9 cents. Should have at least reduced size to 100 shares, or risked half my PnL of the day. Also stopped out at 6. This trade was all based in FOMO since I missed all the previous setups and this 5 minute was the final one.

What was I feeling at the time?

Super flustered because this was yet another setup I am missing. People say it's no big deal because there's always the next one, but when you've been bleeding out a small account by "waiting" for momentum, missing out on setups is just a recipe for an inevitably blown account. I'm even more disappointed having to take the loss, because it was a fomo trade with too much size. I entered at the top of the consolidation, something I've been successfully avoiding to do since restarting.

What did I do wrong?

Everything. Entered past entry point, too much size, cut loss before predetermined risk level AND 6.45 breakout level. FOMO got the best of me, and it is because my account is so close to being blown up again. All of this after 11 am after a major breakout. I keep playing post-breakout setups, because again, FOMO. And it's become beyond "oh there's more tomorrow" because Tomorrow always comes and it's the same song and dance---any good setups I miss for myriad reasons---seemingly as many reasons as there are setups. And I keep bleeding away in commissions and lock in weak profits. I also keep hesitating after missing a setup and then watch it continue. All of these things led to my FOMO. Super glad I got a $20 loss on it. Such a deal price to pay to NEVER DO THIS AGAIN.

What did I do right?

Entered setup although it had already taken off. This isn't bad per se, as the 5-minute continuation has been confirmed.

How can I improve in the future?

ALWAYS stalk my trades and look to enter on retest confirmations. If I can't physically watch, set plenty of alerts BEFORE my level is hit. If waiting for 5-minute setup, still stay at desk. I didn't see how earlier patterns were setting up, or else I would have taken those and been profitable. Literally the main reason I keep blowing up is not from poor risk management, it's seriously missing out on way too many good setups and taking ones that look good but have less resolution than the INITIAL setups I was watching---because even when profitable on those, it's much less so commissions keep eating me away.