LIZI Trade on Oct 12, 2020 10:08 from glowingdounut: Tradervue User Stock Trades.

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glowingdounut

 

Stubbornness is the lesson for this loss, this will likely be the final loss I will take of this type as I am now implementing hard stop losses fully on each and every single trade. Obviously, it is something I should've done from the very beginning. However, examining my psychology helped me understand why I'm making these types of mistakes often. It isn't the first time I've averaged down like this. However, I didn't have a plan set in place which meant emotions dictated my decisions. I remember thinking in my head prior to the final trade on this ticker that maybe I should take the profits and run for the day. Turns out I was correct to think that way. What worse is that I'm making the same mistake over and over again.

Mistakes
- Extremely extended
- Pullback had no volume for next leg up.

image

It is a bad habit to fight the stock and not stop out just because your mind is scared of giving back profits. Need to stop thinking about that. I could've been green on the day easily should I have stopped out knowing that I was wrong about the trade. Up 2k instead of down 7k


Execution detail:

Date/time Symbol Side Price Position
2020-10-12 10:08:09 LIZI buy $4.670 long
2020-10-12 10:08:09 LIZI buy $4.670 long
2020-10-12 10:08:09 LIZI buy $4.670 long
2020-10-12 10:08:09 LIZI buy $4.670 long
2020-10-12 10:08:09 LIZI buy $4.670 long
2020-10-12 10:08:09 LIZI buy $4.670 long
2020-10-12 10:08:09 LIZI buy $4.670 long
2020-10-12 10:08:09 LIZI buy $4.670 long
2020-10-12 10:08:09 LIZI buy $4.670 long
2020-10-12 10:08:16 LIZI buy $4.580 long
2020-10-12 10:08:16 LIZI buy $4.580 long
2020-10-12 10:08:16 LIZI buy $4.580 long
2020-10-12 10:08:16 LIZI buy $4.580 long
2020-10-12 10:08:16 LIZI buy $4.580 long
2020-10-12 10:08:16 LIZI buy $4.580 long
2020-10-12 10:08:16 LIZI buy $4.580 long
2020-10-12 10:08:43 LIZI buy $4.500 long
2020-10-12 10:08:43 LIZI buy $4.500 long
2020-10-12 10:08:43 LIZI buy $4.500 long
2020-10-12 10:10:39 LIZI buy $4.360 long
2020-10-12 10:10:39 LIZI buy $4.360 long
2020-10-12 10:10:39 LIZI buy $4.360 long
2020-10-12 10:11:31 LIZI buy $4.299 long
2020-10-12 10:11:31 LIZI buy $4.299 long
2020-10-12 10:11:31 LIZI buy $4.300 long
2020-10-12 10:11:31 LIZI buy $4.300 long
2020-10-12 10:11:31 LIZI buy $4.300 long
2020-10-12 10:11:31 LIZI buy $4.300 long
2020-10-12 10:11:31 LIZI buy $4.300 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 long
2020-10-12 11:07:32 LIZI sell $3.420 0


Comments

Gravatar TahirTrades
2020-10-12 22:37:01
 

Learning technical analysis is easy but controlling emotion is hardest part for many. Trading in the Zone is the good book to read,
I am struggling for same issue. I know I have to stop but I changed by plan several times in the past when it went down.
Best of luck.

2020-10-13 09:16:44
 

@TahirTrades

Really appreciate your feedback and suggestion, I'm definitely going to read it, been on my to read list for a while now. Definitely respecting my SL and mitigating my losses will take me to the next level because other than that I've been pretty consistently profitable.

I really believe its a stubbornness/ego thing when it comes to me.

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