ACB Trade on Jan 7, 2019 09:47 from Forfreedom: Tradervue User Stock Trades.

Key notes on this trade for the month of January 2019.

Do not give in to FOMO!

As I stated in previous note entries, I strongly suggest creating plans to address FOMO when it happens. It is no secret when FOMO is creeping in. The anxiety building from the thought of missing out on a profitable trade is almost unbearable to ignore, but the downside of being wrong would result in giving back ALL if not MORE profits made from the week/month.

This is exactly what happened towards the end of the trade, which gave me the push to just close the position, regardless where I was in comparison to the overall market. I was careless and reckless. There are no excuses for writing clear instructions to quit the trade for the day if deemed necessary and not following through.

Stubbornness, Pride, and rebelliousness behaving do not generate consistent profitable results.

Get a handle on your emotions! Even if you haven't slept, DO NOT hold heavy weight

An example of FOMO kicking in was my previous orders which was set, were canceled the same day the movements happened.

My orders and Goal for the position size on 1/27/19:

Achieve 400 shares @ avg pos 6.51
Buy Orders: 50 @ 6.36 100 @ 6.50 100 @ 6.55 100 @ 6.60

6.50 - 6.60 would of filled, giving me 300 shares at 6.55, a position size resulting in significant profits this week, but alas were not executed due to submitting myself to FOMO.

Another key note - which I will be implementing firmly going forward:

Positions over 75% need to be reduced at open - no matter what. Having too heavy of a position is too risky for MOMO trading. A small pullback results in giving back major profits, and a spike up in the first hour of the trading day is too volatile to realistically expect it to hold till EOD.

Must commit to this rule to save damaging mornings from taking back realized gains.