ETSY Trade on Feb 26, 2019 10:22 from Gideon23: Tradervue User Stock Trades.

Another pretty bad trade!! I believe I was chasing this stock! Bad Idea

Sooooooooo! I entered this trade at about 10:15 which is against one of my rules. I should have caught this trade on the break during the first 10 minutes of trading but because I was switching around screens I failed to see the trade on my ToS platform in order for the change to be made on DAS. The key thing here is that I should not be chasing after trades. Why? Even though I cut my loss early --> which I have become quite good at and believe will lead to success, I did not pre-define my risk and did not accurately have profit potentials documented. For 1, this trade looks like a failed continuation pattern. It pulled back to the 9 at 10 and loss control dropping lower meaning that the continuation would be mediocre at best. Im watching the trade throughout the day to see if this assumption is correct. Whats more is that I am currently not in the business of taking trades besides that of ORB trades. The reasoning being is that I need to focus on the execution of these types of trades until I am able to manage them effortlessly. I am almost half-way through my my set of 20 trades and am working to think in a series of trade perspective, vice 1 trade at a time. I am of course profitable for the month thus far and will work to close this month out in a strong fashion, focusing on execution of my trades and not chasing trades after the edge has passed. I believe that I am growing as a trader and will continue to work this skill day in and day out until it becomes second nature to me!

2019-02-26 11:24:49