IDXG / December Review

IDXG

01/03/2017 09:58:41     Bought  300 IDXG @ 7.9
01/03/2017 10:10:10     Sold       150 IDXG @ 9.36
01/03/2017 10:11:42     Sold       100 IDXG @ 9.25
01/03/2017 10:11:42     Sold       50 IDXG @ 9.24
01/03/2017 10:39:46     Bought  100 IDXG @ 8.5
01/03/2017 11:06:05     Sold       100 IDXG @ 11.575
** Not sure why I can't load pics atm **

I noticed IDXG spiking with volume using the thestockmarketwatch.com and it was a familiar stock from the previous day.  Broke the pre-market high at 5.5, decided to chase a lil bit but was sized in too big for my normal risk tolerance.  Took profit when the momentum shifted on the 1min chart.

I noticed that the longer TF was still upwards with the price holding the short TF downward.  Bought the dip and sold when the momentum was changing.  Since I went big on the first trade, I got scared out and downsized from my normal sized position even though this entry was alot better. Sold whole position instead of my normal just half just because my position was small to begin with.


DECEMBER REVIEW 

6 Red Trades         (1,022)
3 Green Trades  + 874.81
33% Win rate and (147.48) for month

2 Red trades caused (701.14) or 67% of my total monthly loss in damage

On review, I traded against the trend and chased the entry.  Tried to buy the breakout but instead found the top/false breakout and whipsawed me.  Zombie trading/having no plan prior to the trade resulted in my largest loss to date.

On review, I should've noticed that the momentum on the 1m/5m/15m/30m chart wasn't all aligned.  To make it worse is the face I chased and tried to buy the breakout which failed and momentum whipsawed me.  My position size was way too big but i did cut the loss faster than AKAO.


Goals for the next two weeks:

1)  Create watchlists daily/develop patience and only trade what's on my WL > FOCUS only on Go-To-Setups

2)  100% compliance with pre-trading requirements prior to making the trade.  If i stick to this plan = 0 ZOMBIE/REVENGE TRADES

3)  Stop thinking about money and focus instead of making the right plays.  The money will follow.

"Think of it this way, as traders, Our job is to be patient. Most of our time should be spent watching and waiting.” -LX21

"Aim Small, Miss Small." -T. Sykes

"No one ever went broke locking in profits !!!"- Superman