OAS Trade on Apr 23, 2020 14:47 from _cup0fjoe: Tradervue User Stock Trades.

Honestly no plan at all; just came back from laundry and saw this oil co. moving and thought I could scalp a few cents on it as it broke to NHOD towards the close; not my niche at all; not a low float, no real catalyst; not a prev runner; not a small mkt cap; not specific pattern I am trading. I wanted to enter to at least have a green day as I was on a 4 trade winning streak; I know streaks mean nothing, but it's the longest winning streak in my career; When I entered I knew the r/r was horrible as I was buying near the top and also went with a bit bigger size as I was thinking more about the potential reward rather than the risk. Risk should always be the first thing you consider before entering a trade.

Relooking at the 2/5-min charts and see that I remember I was anticipating the HOD. You make money in the stock predicting moves, but you can't form a bias before actually analyzing all the factors. This stock was huge float that moves based on oil commodities. This was way far from what I trade. I can feel oil sector moving as many energy stocks were moving after USO bounced off its 52-wk low. A great lesson in this loss as it just reinforces the basic rules of trading. 1. Have a plan
2. Consider risk before reward (Ideal 3:1/5:1/7:1)
3. Don't chase
4. Start with small size
5. Be as patient as possible for you entry
6. Remember, don't do what the 90% of traders.