RPRX

RPRX

I was planning on getting back in the game but ended up sleeping 16hrs straight yesterday.. This was the opportunity cost of that.... Nice pattern i would've dip bought at 1.8 or at 2$ breakout...

Oh wellz,.. "Live and Learn".. RPRX was introduced to me by a good friend Greg that also trades. RPRX looked ripe for a nice spike with overhead resistance nowhere near it above...

Some would consider the first 2 1-minute candles as an F1 breakout in the open.. Wanted to buy in but was too fast for me.. Closed ToS and went out the office to check on greg's trade.

While watching him, i saw a bigger and better formed F1 Pattern forming at 2.8.. Wanted to get in at 2.8 but it spiked  to 2.85 and didn't want to chase.. A better entry would've been a dip buy off the bounce at 13EMA. It's the first time i've actively watched a stock using 13EMA and it woud've been a good risk-reward with an upside to 3.

I was looking to buy in one last time on the breakout past 3. 1500 Shares buy order sent as it broke 3.01>3.04.... Felt good, heart was racing... As it neared 3.3 which was where i planned to take my profit.. I double checked my order and noticed it was still open. I had placed a limit order at 2.43 instead of having it to a 1500 MKT BUY Order like i wanted.. Damn order was still open... Canceled the damn thing and spent a few mins smh feeling stupid of my fat finger mistake... Hey, it's been 5weeks since my last trade.. So much stuff going on getting ready to move from japan back home and i'm a little rusty... No biggie.. just lost on a potential easy $700+ Profit due to a small ass lack of attention to detail/mistake... FML !!

CRC and thoughts/progress FOUS4+FOUS4x2

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.

RJET, CRC

RJET

Bought 1500 RJET @ 1.54 15:41:07 03/03/2016

Chart is solid but the catalyst is so backwards. It's heading towards bankruptcy yet the stock is up wth? I was so confused and false rumours of a buyout are in the msgboards, it didn't help that there was a unusally huge buyer at the end of the day which didn't make sense other than an insider buying with info not known to the public. Anyways, went half my normal size just cause this was a weird setup.

Sold 1000 RJET @ 1.78 08:43:12 03/04/2016

There was a 1000 Bid @ 1.84 at 7:30am that I spent 10mins glaring at taking and I KNEW i should've taken it for a guaranteed 30cents profit but i let it go and the bids sank to 1.6 and i waited with regret til 9am and took some bids that was at 1.78. I cut down my size 2/3 instead of my usual 1/2 to cut alot of my risk since this was NOT an earnings winner/positive catalyst.

Sold 500 RJET @ 1.5127 09:31:00

Holy crap!! My mental stop was at 1.54 but hesitated a few secs which cost me another 3cents. Stock crashed to 1.3 within 5mins of the open.

Bought 1000 RJET @ 1.669 11:17:49

STUPIDITY ARISES !! Same mistake as last week... This is too much.. I'm putting a sticky in front of the computer. It'll say to apply LX21's Star Rating system.. Impatience/boredom set in and i MISSED CRC because of this stupid trade.dd

Sold 500 RJET @ 1.544/Sold 500 RJET @ 1.54 11:57:35

Spent 40 LOUSY minutes babysitting a shitty trade and i missed my entry on CRC 1.50 breakout on pre-market HOD. Not only did i lose 150$ but i missed out on an easy 600$. C'mon, i've got to control this impatience....

CRC

I was actually watching CRC on March 3 when it broke out of the previous day's HOD at 90 cents waiting for the 1.06 breakout since the earnings was released. I got bored babysitting and thought it's prolly not gonna breakout til the afternoon and pulled up a youtube video. After watching for 5mins i tabbed back to see it at 1.24 which was exactly where i had planned to exit partially to take profits, I missed an easy 18cents. Easy 540$

Fast forward 1day March 4

Pre-market was AWESOME !! But i was long in RJET already so i was fully focused on RJET at the open. After i closed my RJET, I knew i want in on CRC at 1.5 breakout on pre-market HOD and a nice solid "magnet" number. I was fully focused but on the wrong stock, i entered out of impatience on RJET even though CRC was the earnings winner. Because of impatience, i missed out on entering CRC at 1.5 like i wanted. Missed an easy 26 cents by close. Easy 600$

Bought 2000 CRC @ 1.71 15:30:05

MACD Bullish signal/Crossover/Higher Low confirmed.

Sold 1000 CRC @ 1.755

I was still scared because of what happened to RJET in the morning (even though this one IS an earnings winner) combined with the fact a few days ago this was trading in the 60cents range. Already up 200%, i think i'm ok with playing it safe and locking in a few cents and downplaying my risk.

On a 1y/Daily timeline. RSI/MacD multi-month bullish cross-over. It's the first time i've seen this and this i know for a fact happens very rarely on top of coinciding with an earnings win as a catalyst.. This was an easy 200%+ profit and missing out on a swing trade like this engrains this pattern in my mind.

Seven Deadly Sins- Pride, Humility, Conviction

Lust               Chastity

Gluttony        Temperance

Greed             Charity/Generosity

Sloth              Diligence

Wrath             Patience

Envy              Kindness


Obviously some of these don't really pertain to DayTrading but i'll go over the ones that i feel affects my thinking while trading.


Greed -

On hearing a remark from someone and the way she said the remark angered me because i knew for a fact she did not understand what i meant by me being greedy. On a 0-10 scale, i rate my greed at 2or3. Greed so far has affected how much profit i could have potentially gained, i have not lost money because of greed but i have lost potential profits. A much more dangerous greed that i see almost everyone makes is the greed of a very excessive or rapacious desire and pursuit of material possessions (Expensive cars, Brand name clothing). This kind of greed i rate a 7 on a 0-10scale. This type of greed is disastrous financially especially when most americans spend more than what they actually can afford/have leading to financial problems/credit card debt. We do need something to motivate us to work hard, it is not greed to reward yourself of material wealth for hard work. However, i believe it is excessive/greed to reward yourself if it is beyond your current capabilities to pay for it causing fights/strained relationships with others. A consequence of greedy activity may be inability to sustain any of the costs or burdens associated with that which has been or is being accumulated, leading to a backfire or destruction, whether of self or more generally.

As far as losses go, due to Syke's/Superman's/InvestorsLive's/successful trader's #1 rule: Cut losses quickly. My losses have been stuck to either the primary plan or the secondary plan i develop to risk a little bit more to see if the trend would change/i.e.. use another support level (which is a bad thing i need to cut out, but this at least gives me an oh shit point. If this point is breached, i get out without hesitation). I only see greed limiting my profit potential atm.


Pride -

My thought's on pride is that you can have pride but you have to acknowledge when you are wrong. Pride is not necessarily a bad thing like most people make it out that it is. Religions have it as a deadly sin but Aristotle and George Bernard Shaw see's pride as a virtue. I believe our thinking needs to be more refined to fully be able to use pride to our advantage. Religions teach humility to counter pride but i think how people were taught by the church tof view humility is also outdated and needs to be refined.

Humility is not a recognition of one's failings, but a rejection of morality. - Ayn Rand

When viewed as a virtue, pride in one's appearance and abilities is known as virtuous pride, greatness of soul or magnanimity, but when viewed as a vice it is often termed vanity or vainglory.

A more refined set of ideas i strong believe in are:

Kaizen (Japanese: means to continuous improvement): For a person to continuously improve themself, they have to acknowledge their faults/mistakes. First step in solving any problem is recognizing that there is one.

https://www.youtube.com/watch?v=VMqcLUqYqrs

Resilience: Instead of humility. Humility leads to obedience, excessive humility leads to excessive obedience which is prone to abuse. This can severely restrict individualism/free thought in my opinion. Humility as it seems from Christianity/Islam can also be viewed as a surrender/to be subjugated which is horrible when one seeks humility towards another human as it's prone to abuse. I say resiliency is better in times of difficulty because it seeks to be equal to whatever "human" force that is seeking to have you subjugated. You should have humility to GOD, but it does not mean you should have humility to the church or your religion, the church is NOT GOD and are a human organization that has the potential to abuse/subjugate it's followers. Ex: Iglesia ni Cristo in the Philippines practices bloc-voting. Mindless zombies with no brains to think for themselves and vote for the appropriate political candidates that benefits them instead of the church leaders. Cardinal Sin in the People Power Movement, has his mindless followers back up Cory Aquino that has very little political experience other than being married to her husband that was an equal to Ferdinand Marcos. State should have little influence on church, but church themselves should have little influence on state. The filipino masses needs to learn to think a little more in order to help themselves.


to be continued

BLOGS, Twitter

http://averagejoedaytradr.blogspot.jp
Ed Martin - From Warrior Trading





http://nikkoricoo.blogspot.jp/





http://derricktrades.blogspot.jp/

http://tradetheticker.blogspot.jp/

"Trading a ticker just because a setup is there unfortunately won't yield profitable results.

The best way to eliminate this problem is to only trade the stocks in play and keep an eye on them throughout the day. Stocks in play I define as having a catalyst for that particular day as well as valid trigger levels on the daily chart. If you abide by these simple criterion you will find your frequency of trading will drastically decrease and your potential for large winners will increase exponentially. Hence, why you see me trade very infrequently but jump on the big movers when the opportunity presents itself.

One thing to note is I never rely on any single indicator to determine my entry on a trade. However, I will use them all in conjunction to determine the direction of the imminent move. What I'm saying here is that I simply would not rely solely on the 9 EMA cross above Vwap for an entry. I personally prefer the price action to be above both the 9 and 20 EMA as well as the Vwap before entering. - Mike from Warrior Trading

to be continued...

SUNE, CLOW

Did DD on SUNE, 90%+ down off it's high last year.. multiple negative news throughout the years, fundamentals are whack as they have a huge debt blah blah.. on the positive note 30% plus of the float are short so i'll be expecting a good squeeze in the open..

SUNE

Long overnight 1000 SUNE @ 1.71

Plan is to sell half at open, and sell the rest at 3$ if it tests it or sell all within 10mins of the open.

Sold 500 SUNE @ 2.29 08:00:08

Locked in half profits on a lower high in pre-market. I still had doubt's whether i should lock in profits or not but this is another assurance that cutting my risk in half for guaranteed profits is a much much better strategy. Take profits and move on.

Sold 300 SUNE @ 2.4234 09:41:40

Top was at 9:35-9:36 @ 2.77, i shoulda have at least seen the trend change MACD bearish crossover at 9:38 and stopped out at 2.5. I was still a little greedy and should've locked in 1$ per share profits but i wanted it to hit 3. Since i had already locked in half, I was comfortable with seeing if it will hold the spike a bit.

Sold 200 SUNE @ 2.37 09:43:58

Closed myself out completely when it broke below VWAP, sucks that it ended up being the low but I can work on my exits later, there's bigger mistakes to focus on atm.

If I had traded this ideally, I would've
1) Bought full size 2000 shares instead of 1000
2) Sell half at the same point when i did *** +1 did right ***
3) Closed out at 2.7 if was day trading, Closed out at 2.5 if i wanted to let it to test 3.

I missed the top by 30cents... I still had that "hope" mindset and because of it i missed out on locking in 1$/share profits. I AM A TRADER, I need to stop thinking about getting homerun plays and just bat singles.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

In comparison to how i traded 2 weeks ago:
I've significantly changed the way how i control my greed, Aiming less for big gains and instead aiming for consistent profits playing ideal setups instead. What coulda, shoulda, woulda been a $700-$800 gain ended up just over $600.

However, the big thing that killed my possible gain today was the fact that i only took half my normal size due to:

Impatience: Forced 2 trades AGAINST my rules during midday, instead of letting the play come to me, i tried to make the play happen instead.. 2-3hrs into it the market humbled/beat me down and was eventually scared out of my position. Due to my impatiience, i developed a fear and caused me not to go full size in the afternoon.

Fear: What coulda, shoulda, woulda been a $1400-$1600 gain on a full size position ended up just over $600. Funny, I've seen the top traders get scared out by being too early and you really have to experience it yourself to fully understand how it feels instead of just hearing/reading/learning it from someone else.. Being too early in a trade is SCARRRYYYY... I really would just either miss potential profits/miss the play completely than to be in early. This fear would easily be more compounded on short positions. I think fear here is a good thing though, the core problem here was the impatience, if i wasn't early on my trade, i wouldn't have been scared out in the first place and only went half my normal size.

On a side note: I called out on Wednesday that CLOW Breaking down past 0.35 cents would send it too test 0.30 and if it broke below that, it'd crash huge.

This pump was a gimme and i'd easily rate it a 4*. To help me with impatience, i will start using LX21's system of rating plays and i would only take 3*+.. I woul'd've rated my ETSY/ENOC/1st SUNE trades as 1*, SUNE o/n 3*, CLOW 4*. This would prevent me from going in useless/stupid plays.


I'm seriously thinking about just focusing on shorting. I've seen so many earnings winners fail so much and this overall market just SUCKS for being long. ClOW is now trading at 12cents from 35cents EASY EASY 66% Gain. My biggest problem right now is that I need that e-trade account open to short, and prolly just use TD Ameritrade for longs / Learn NASDAQ Shorting. This is going to be a huge change in my strategy and prolly be a good idea to take a week or two off from shorting to prepare myself shifting strategies from a long to a short seller.

ENOC, SUNE

Little rant first before i start off... As if i didn't learn enough from wednesday's stupidity.. I entered 2 trades out of boredom in the middle of the day.. Even though my rule is to buy 2-4pm and NEVER go in at lunchtime because it's hard to assess the trend due to the low volume, and you're not certain how the stock's going to react in the afternooon. I ended up getting scared out, one hit my mental stop loss and faked out/recovered. The other bounced off the vwap yet i got scared out anyways like a retard. I was right however in seeing that they were holding their gains, the main problem i felt was that there wasn't enough volume and i have no idea whether it was going to come back in the afternoon.

ENOC

Bought 500 ENOC @ 6.2 10:42:15

Bought it cause i'm a retard and i like to not stick by the rules. Fading volume, entering into midday, not sticking to the plan and buy at 2-4pm on good volume..

Sold 500 ENOC @ 6.052 12:26:41

Got stopped out and still sloppy on executing on my mental loss.


SUNE

Bought 1500 SUNE @ 1.67 11:13:37

Bought it cause i'm a double retard, if one retarded entry midday wasn't enough.. I'll beat it and make two stupid/impatient trades.

Sold 1500 SUNE @ 1.6001 11:46:51

Stupid entry, got scared out cause of low volume midday and unsure of how the afternoon is going to be.

Bought 1000 SUNE @ 1.71 15:47:32

IDEAL TRADE !! Finally My first ***** One this week.... Since i got scared out twice already earlier in teh day i only wen't half the size i normally would've on this trade.