CRC
This was a trade i did 2weeks ago. Long overdue due to classes/coursework related to work and the fact I was very, very disappointed in how i acted during the trade.
Stock is a commodity play, the entire energy sector has been beaten down the last 2 yrs d/t OPEC having a oil-war with the US shale producers dropping the prices in oil/barrel. They're basically trying to bankrupt US companies by getting them down to unprofitable levels with the oil prices so low. Recently, news of an oil production freeze has been hyping up the stock prices in contradiction with the companies fundamentals.. Stocks are going up even though these companies are tight on cash/possible bankruptcy.. The hype lasted a good multi-day run until finally collapsing.. a mini-bubble up on hype that moved a whole sector.. pretty cool.
Bought 2000 CRC @ 1.71 @ 15:30:05 03/04/2016
I noticed crc due to it's earnings beat.. So i was playing it as an earnings winner at the time without realizing what was going on in the bigger picture- missing out on 300%+ Swings. I wanted entry on 1.06 and sell at 1.25 but i got bored babysitting and watched a youtube video. The 5min video i watched, the stock broke at my entry point and spiked to 1.3... at the end of the day there was another possible entry and i took it on a dip.
Sold 1000 CRC @ 1.755 @ 15:59:14 03/04/2016
Although the chart was perfect, and i've been getting more scared/playing smaller position sizes since my last trades. I downsized my position cuz i felt like i was chasing this stock thats alrdy 300%. Looking back now, I don't regret my decision even though i missed out alot on potential profits, better to play safe than lose big.
Sold 1000 CRC @ 1.8819 @ 09:30:52 03/07/2016
I've been really really scared on this stock for some reason, My mental stop was at 1.8 which isn't even bad cuz i'd still b up 10cents per share... The stock did NOT spike in the beginning and actually crashed which is i knew was possible. FOR SOME REASON, i got scared out since this is the first stock i've had that sold off in the morning which was an expectation. I put in a market order once it broke 1.9 and stared at it for about another 5secs when i realized the price action was bottoming out and tried to cancel my order but i was 2secs too slow and my order got filled...
I only had 1 day trade for the day.. I wanted to sell my overnight position on the morning spike and use my daytrade to buy a dip.. but instead... FOMO!!!
Bought 1000 CRC @ 2.0402 09:34:07 03/07/2016
**** I watched the stock spike without me, i saw another entry at 2.04.. FOMO !! Feeling of missing out.. I wasted my daytrade and instead chased the spike. I hate the fact that I gave in hard to FOMO...
Sold 1000 CRC @ 2.1001 09:49:32 03/07/2016
The spike was losing momentum and not making new highs. Sold rest of position before it consolidates for the day.
** The trades went positive for me but it's the fact that i gave in to FOMO that really irritated me. I spent the next two weeks away from trading and learning FOUS4+FOUS4x2 dvds since i knew i blew off a beautiful opportunity for a swing trade.
I was so focused on intraday/had very little knowledge on swing trading, i made at maybe 10% off a 300% multiday day move.. The whole energy sector was being hyped up + CRC earnings win = mulitple catalysts + Chart was Fous Revival pattern that became a Fous Force.
I finished FOUS4+FOUS4x2 DVDs, the thing is that these dvds are about 10yrs/4yrs old so the patterns aren't reliable anymore. The crazy part is, the patterns in the DVD's are exactly the same pattern i've been trading this whole time !! So i didn't really learn anything from the DVD's but it REINFORCED my trading style greatly knowing that there's successful traders whose style is EXACTLY like mine. Lately, Fous has been shorting which is my end goal to be a short-side trader but i'm still getting a feel for the market/horrible broker for shorting so i'mma refine the long-side of trading in a shitty market first to give me more discipline then once i get an IB account, i'll start focusing more on shorting.
