MJN Trade on Oct 20, 2014 10:11 from JensW: Tradervue User Stock Trades.

• Worst day (Oct. 20th, 2014) in 7 weeks
• Massive overtrading
• Did not cut losses quickly
• Forgot or did not apply most rules
• Did not look for set-ups - gambling
• Slap in face after great Friday last week (Oct. 17)
• Had up to 6 positions at the same time!!!! Insane.
• Will have to start from scratch and go slow
• Rule for this week (Oct. 21st.) max. 8 trades per day, overtrading is something I dont need

Setup: --------------------------Intraday breakdown
Entry: --------------------------95
Shares: -------------------------100
Stop: ---------------------------95.50
T1: -----------------------------94
T2: -----------------------------
Reward:Risk Ratio (T1): ---------2
Exit: ---------------------------97.08
Profit/(Loss) Without Commission:--- -208.00

Comments:

• This is what happens, when I am stubborn and do not cut losses quickly
• 4R trade
• Pathetic
• Complete "hope" trade
• All day, I was hoping it would come back, only to see it grind higher
• I though 95 level would break and stock would flush
• At this point the stock was really extended already
• Entry was therefore a major chase
• These kind of trades cannot happen when trading live
• So many mistakes, such a poor execution, not based on a method / process, but hope-based