Biggest red day since day trading live due to poor risk management

I realized that i didn't have a plan and just followed in a trade and as it bounced where strong stocks normally do (off a rising MA), i found myself "hoping" that it'd roll.  I agree with where i added but feel i should have cut out early and taken a quick -.75 loss on AAPL instead of letting it rise to where my next short was.  Great lesson on why not to get in a trade unless i have a PLAN!  


AAPL - Followed short into rising 8MA and paid dearly for it

LULU - Papered long as looked good, great trade!

Ended day red as got chopped up

Took 2 real trades and took losses on both, papered 3 others and killed it off 1.  So ended up going 2 for 3 but due to being able to stick to plan while papering, i'm proving to myself that i need to stick to original plan in order to become a better trader and not re-evaluate mid trade.

VRTX - Great reason why to utilize stops

PANL - Looked strong but faked me out

NKTR - Looked like B/O but fake out

GMCR - Great B/O pattern but failed as well

PCYC - The trade that had the plan but only papered

Mainly paper and did great, the few live i butchered

Groundhog day...

THLD - Daily alert triggered but too slow on pullin trigger

ORLY - Huge haircut and faded the gap

CSTR - Daily alert triggered, great entry, terrible exit

NFLX - Bounce off previous day low....terrible risk mngmnt trade, got LUCKY

PANL - Need to learn to anticipate these entries

Back to mainly paper as i'm not letting winners run

There is a huge psychological difference for me between live trading (take off as soon as it turns green), and paper trading (let it get to target or stop me out but stay out of trades way).

ZNGA - Long off breakout and took off flat

APOL - 2 Longs

AMZN - Short into MA and long off of MA

SINA - Short the weakness

LVS - Great long pattern

Hindsight showed to short market leaders on and rip

Hindsight shows easy day to short all major movers.  Instead i tried to knife catch both market leaders.  What stocks lead in strength...lead in weakness.  LEARN!


NFLX - Long bounce and fail

AAPL - Bounce catch fail

Ended day green as i get more in touch with my issues

CF - Followed Goat long, need to study chart

BIDU - Short on failed 50MA test and was wrong but good stop moved to B/E

AMZN - Followed Goat long at L/T support, didn't illustrate the patience he did

PANL - Great lesson in pullbacks

LNKD - Short on rollover but turned out to be natural pullback

R - Great short setup

ARNA - Huge short of failed bounce that was stalking but missed

Sat on hands and only papered today

..And watched others kill it.  Still learning consistency

RHT - Huge sell off so looked to fade the gap, right idea, limit missed and didn't chase

AMZN - At previous highs so anticipated break and paid, missed the gapfill though

BIDU - Chased the false breakout and got popped

HINDSIGHT LESSONS:

FFIV - Great short lesson

UA - Great short lesson on gapdown

LVS - Memorize this shorting pattern

NFLX - Memorize this shorting pattern

FSLR - Memorize this shorting pattern

5 for 5 as had a potentially huge day

...But didn't stick to game plan and took off winners way too quick.  Other trades didn't have the balls so papered and those were the biggest winners and happened to be the highest probability trades.  LEARN!

IDIX - 2 Trades both short and long side and nailed both

MCP - Chased long then long off tight flag

BIDU - Bad mistake for long bounce on a TREND DOWN DAY!  Missed the easy shorts.

Decent day to give it all back before leaving

Some decent set ups.  Still notice i'm fearful and not pulling trigger.

GMCR - Long on B/O but missed the quick pullback to rising 20MA

AMZN - nibbled on Breakout

LPX - Need to memorize this pattern as let her pass me by

BIDU - Short the breakdown but fakeout

MNST - Short chase

Paper day only as couldn't get "conviction" to go live

Watched the stream kill it today as i sat in awe at missed opportunities

AAPL - 1st anticipatory short at previous high failed, then long the pullback but sold too quick

AMZN - Great short off signs but missed the big long off rising 20MA

Great day trade wise

Still taking very small positions and not trading for money.  I'm really focusing on disengaging from emotion and learning to trade the trade as close to perfection as possible.  Much better today, still missing some big trades and not pulling trigger on great setups due to hesitation.

KR - Short off HUGE gap up

COST - Short on roll over, stopped for small loss, shorted again and got gain

CF - Paper long off Goat's call.  Should have pulled trigger, best trade of day.  LEARN!

Had a great trade, then a few not so good trades, ended flat

Started day off great and then traded back to flat.  Another great day of some generic lessons.  I'm back to trading all live but VERY small positions and finally feel like i'm getting closer to the "aha" moment. 

PCRX - 2 shorts

CMI - Great short entry and plan WOULD have worked but bailed strategy and took loss

SMG - Textbook how to trade a gapdown (which i missed the long) and put on a bad short