AMZN Trade on Feb 12, 2020 09:35 from Ryanstrades_: Tradervue User Stock Trades.

I got carried away on this one. I scalped 2 trades on it successfully and then messed the 3rd one up by holding when SPY and AMZN failed vwap just after 10:00AM.
I bought the vwap reclaim after higher lows and was looking for a hod push, or for it to at least build above vwap for possible abcd setup (if I wasn't just gunna get the quick push for hod test). I froze like a deer in the headlights just after I bought it because it rolled over right after purchase, and SPY did a violent dip south as well.. I started thinking "let's see what it does." This was really bad because it allowed me to sit in the trade with it decaying against me. I was going to stop if it didn't hold the days low form the open, but it did hold, allowing me to justify bagging it... I had turned this scalp trade into a loss on the name by not bailing ASAP when it wasn't to plan. I had bought at $14 and could've easily sold on bid at $12 and I still would've been green on then name from the first 2 winners. However, I held, even when it gave me a chance to exit around 10:25 when AMZN and SPY failed to reclaim vwap. It had wen up and tested and totally gave me an opportunity to bail for minimized loss, but I held. (Meanwhile I had an overnight TSLA Put I had just closed for -150, and was eating a -100 loss on my CERN long Call swing, so my head was not in the best place.) I only bailed when the pain was too much and it had broken lod. This is unacceptable because it was a vwap reclaim trade and it immediately failed, so I should've been gone. Especially with the SPY fail. My contract was now worth $8 when I sold it.

I knew I was past my max loss of 500 for the day, so I needed to close shop at -650. No excuses. Had I just done this, I wouldn't be having to journal about my biggest loss day ever, right now. This is where the tilt trading came in and I started acting irrational.

I got long the Put a few mins later thinking "hey if I had just been on the other side of the trade, I wouldn't be in this pain right now." That was my justification for hopping back in there, as terrible as it was. This got me all twisted. I wanted to see a fast fail to nlod after a small consolidation, but it bounced right back and started building towards vwap. So I did what any dummy would do, and longed a call again thinking this could be the big move, and I wasn't going to miss it. I longed the call, stopped out the Put, and continued down my twisted path of revenge and tilt trading. I had to leave for work soon, so I set a stop below the lod on the option contrcat at 5.15 and let it ride thinking I was gunna be right this time. And this would cover my losses back and then some when AMZN rips to 2200+. It consolidated all day and then rolled over rather than ripping with market into close. It showed relative weakness and I got stopped out at $5.00 for an additional $240 worth of stupidity on that Call option.

I simply got carried away today, and broke my rules of trading when I was down over my max daily loss. This would've stopped a lot more pain and suffering had I just took the loss and went about my day. I get too obsessive sometimes. I would have been fine coming into tomorrow down -$650, but now I've doubled that loss by being stubborn. I Can;t break rules that I have put in place to protect myself. The other big take away from this is to not freeze. I can't freeze. I owe it to my future children and Arianna to not allow that to happen. Oh well if it snaps right back and goes in my favor without me... I'd rather miss it and protect and only be down a couple hundred than di what I did today and trade on tilt "hoping". I believe I sometimes have an edge in trading, and I only should trade when I have that edge! ABCD's are what I'm good at. I gave away an extra $500 today by being stubborn.. I need to not be stubborn. C'mon man