DDD Trade on Aug 11, 2021 01:28 from Joshua_Taylor1: Tradervue User Stock Trades.

There are a lot of lessons in this trade. After closing my last trade FHRC for a small loss I was hungry and in a rush to get back into another b/o. I'm sure you already know what happened.

Basically I was on twitter and 2 repetubal traders Stockbee and Steve spence both tweeted about DDD. So I bacially FOMOed in. the stock was already up 30% by the time I got in. It did go ok to begin with I was up 11$ around 1% in my account. my account is very small at the moment just 930$.
I set my stop loss was to low on the b/o candle. I got stoped out for a 81.40$ loss which is huge and totals to 9% of my account. This is unacceptable and I will be putting tighter stops.

I am slightly conflicted at the moment because Bella says at the start of your trading you are the worst you will ever be so put super tight stops, this is 100% correct.
On the other hand Stockbee says for the 4% b/o method put stop low of the day. if the stock is say 15% up don't put low of the day move it up. What I need to do is write out some stop loss rules for this B/o method that are very tight and stick to them. If I don't do this I risk blowing my account.

1st lesion. Do not FOMO in EVER
2nd lesion. Don't be a late buyer if there stock is already 30% just forget it the meat of the move has already played out.
3rd lesion. Don't take tips off twitter, think for your self be a leader.
4th lesion. Put a lot tighter stop don't rush more than 1% of your account

Looking back over the trade right now I can see it did not even meet my 2lynch criteria. It had 8% break down over 4 days consoldation which is basically not even consolidation if the b/d is that heigh.

As for my phycology going into this trade it was all messed up and I was just trying to rush into a trade so I can make some gains. I need to stop collect my thoughts and just look for my A+ set ups.

ON wards and upwards time to make one good trade then one good trade and then....... you guessed it one good trade! :)