LINU Trade on Dec 28, 2017 09:45 from alext341: Tradervue User Stock Trades.

You had the right idea on this one, but it was too risky. The stock was about 80 cents too extended on the 5-minute chart, and it looks like you were trying to go in for a 5-minute scalp setup here. It also pulled back five times on the 1-minute chart by the time you had gotten in, so you would have gotten in on the fifth pullback on the 1-minute.

The better entry would have been on a deeper 5-minute pull back, like the one that happened later on at around 2.60. Even this was still risky, for it was still 30 cents above the 9 exponential moving average, but it was still a better setup.

It was just too extended for you to have gone in. You did excellent by stopping out above breakeven and getting out with a gross realized gain of $12.50. The unfortunate part was that you scaled out of your trade and ended up paying more in commissions as a result, which made you lose $2.50 in net losses on this trade.

The lesson is here is to be much more accurate and conservative about going in for trades this risky. You should always have in mind the name of the pattern showing up, and also keep in mind how extended the price may be off moving average support lines.

This was the last trade of the day on the second-to-last trading day of the year. You did not trade on the last trading day of the year. It looks like I will close the month profitable by $338.42 net of monthly platform fees, and for a loss on the year of about $800. We'll see what taxes look like, and we'll see if I qualify for day-trader status treatment.

The goal for the next year is to keep trading with accuracy in mind and to keep trading small sizes until we're in a market like November or January 2017 where we see strong sympathetic, parabolic moves that will justify you taking full buying power margin. You'd have the potential to gain back all your losses from the previous year and really scale up your account quickly. Happy New Year.