KONE Trade on Jul 22, 2016 10:21 from tomlouiskeller_Paper: Tradervue User Stock Trades.

2016-07-23 07:43:52

No idea how much luck and how much skill there is in this entry. I guess some of both. But there is definitely a lot of luck in this trade working out. Pretty kamikaze.
Then i cover half already on the prior high. That's to much. 10 shares is enough. I first scaled out 10 as planned and then another 10 because i thought it would go against me. Not good.

Then i scaled out another 5 on the lower of the two highs and then another 5 as it went against me. I think i have to decide to either go with planned exits or with reactionary exits. Because if i do both, then i have sometimes two exits, where there only should be one. And i think reactionary exits are the thing i should go with.

Then it goes down again, and i ad some shares.
Pretty balls to not exit on the pullback... but then i scale out when it starts to go down again... that doesn't make sense. I remember that i just started to think, that it might just go up and down or something like that. I started to loose faith in the setup, and realized how much i would loose if it goes against me. It's always the same, when i have to much time, then i start messing up. I either scale out when i shouldn't or i averaged down, when i shouldn't. It then falls, and i think that it is now in freefall mode, so i add more shares, but it pulls back again. I exit again some, and it goes against me more. I finally loose patience and figure out, that it might also stop me out and i rather book the win that i have then to give it all back and then some. Exactly 2 seconds after i press the cover button, it runs down massively and i miss out completely. I made twice the mistake of not having enough patience and to much time to think about what would and could be. I just didn't have anything else to do. Maybe this is a case in which i just have to set my stop and just not do anything. But more often then not, when i just do nothing and wait, it doesn't work out. This time it would have.

I have to figure out, when to be patient and when not to. I guess since i'm winning, i just should let it run. Let winners run, you know. I just didn't have any patience anymore. Didn't believe in it anymore.