WYNN Trade on Oct 19, 2015 09:40 from rsteckly: Tradervue User Stock Trades.

Macro situation: neutral. Taking setups as they come, no directional bias on the overall market.

I saw WYNN trade below its moving averages, so I figured there was strong overhead resistance.

It had also recently run up significantly, so I thought there might be a fair amount of prospective sellers trying to get out from under the moving averages.

Ultimately, I exited before any kind of stop hit. I would have made around $150 to $200 had I held and respected my stop.

Some lessons:
1) I entered too early, chasing the move down, which promptly bounced leaving me in the red. I also didn't wait for a pattern to form so I could trade off of it with reasonable risk parameters.

2) I exited without a good reason. My stop wasn't hit. So I overtraded and what was a -$278 could have been a $250 gain. That matters.

So I lost money. I lost money because I had FOMO, chased without a plan then didn't respect my stop.