SQ Trade on Mar 4, 2019 10:08 from ValeriuMoraru: Tradervue User Stock Trades.

Initial Comment:

I can say only one thing on this trade. That i'm stupid.... My original entry was at 77.55c
but i pulled out, then re-enter my order and again pulled out... then at 20c 10c and the hole number again same thing....This is the pure definition of FOMO. I cheese it because i was a bit upset that i didn't trust my self (i was a big wuss) and what i have read on the tape and analyze.... RIP

Proper Prep:

On Friday and Thursday i watched trade and on the weekend i reanalyze the tape to understand better the pattern that is makings, what type of orders are going into the tape and what ECN are using. So i was ready to trade it on Monday i think. The only thing that i need next time is less WUSS...

Hard Work:

I watched trade premarket for 10-15 min. I so that it couldn't break the 78$ resistance so i taught that this might be a sign of weakness. I didn't trade the open i just watched the levels develop and the stock was really weak. It pup right up at 78.50 (ish) for 3 sec and had a 15c (ish) spread between the ask and bid . I was really tempted to get in short but i didn't want to break my rule of trading the open. (And i was also wussing out). Then i started watching for a spot where i could start trading it because my rule had expired. I so that 77.40$ and 50c were really struggling to keep it, so i waited for the last pop and i had an order ready for 55c and a cover for 62c if it didn't work out. I panic because i so to much volume on the tape at the same price at first (it was 48c ) and then it bounce with light volume at 55 60c area. it stayed there for 5-7s (so i had time to get dinner and call my mum) and then started dropping. Unfortunately i had pulled the order out like an idiot. Then, i said to my self, ok, search for another level now. I so that 20c it was bouncing a bit and giving me a possibility to get 30c or 20c high but i didn't pull the trigger again... The same for 10c and the hole number... At the hole number it was so obvious, that it triggered my FOMO and i got in at basically the worst place that i could imagine, in fact i called my self R...... because of the chaise. Any way i had a small plan so it wasn't a total RIP, but my chance of not getting cut out was really small.

Patience:

I was patient to let it go instead of chasing it in the beginning. I let it bounce and retest resistance and then i started watching for a level where i can short it. Unfortunately when i mist my first, second, third and forth entry i panic and started chasing it. So let's say i was patient until my brain blow couldn't handle my wussines.

Detailed Plan:

My plan for this trade was simple. If 70C broke get out, if 60c is to clouded and make to much volume on the bid and doesn't drop and also if the ask doesn't decrements then i'm out. My exit was 40c, but i let it go a bit further. I couldn't process much because i was also a bit upset because i lost such a nice trade...So that's why i didn't let it go further.

Discipline:

If my stop got triggered i simply had gotten out. I respected my exit and made 3c more. I wasn't disciplined on my entry and that't a bad thing because i was deserving to get cut out.

Contribution:

NON

Reviewing:

This trade was FORCED and FOMO. If i just had made what i planed in the first place i would had made a really good trade. In any case i would study the tape again and try to get better and to not repeat the same stupid mistake as today.