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Short trade opened prior to previous Big Block (sell) trade from last week. See upper red dash line, and covered on the prior Big Block (buy) trade also from from last week, I traded a tiny, tiny size as a proving trade. IT WORKED!
First things first! I was able to get out of the most HORRIBLE trades. It's called STUPID LUCK!
I was able to get out of TWO of my many bad trades this past week.
Sprint (S) sold almost 2 years later for a loss taking in to account margin interest.
But it done.
Alibaba Group Holding Ltd (BABA) This is a traders nightmare. (I did it to myself) I sold half for a gain, but it's still a loss since I paid margin interest for over a year.
I am posting these trades to shame myself to never EVER do something so unprofessional again. I kept 100 shares open and will trade her off tomorrow.
Other trades today were to many on the wrong time frames and I made chump change, but I did finish positive even with out closing the BABA trade. I guess that's better then some trades who closed in the red. (maybe?)
Tractor Supply Company (TSCO) I was trading from the Mobil App so I took only 50 shares each trade. If I cant watch I'll stay very small just for the fun of it. Both entries were on the pull backs inside the opening range so I felt I had a good shot. I placed a stop market order to cover as I left the trade. When I came back I was hit on the stop for a small loss.
I still won on this trade. If you have a thought out entry, and then cover (AND HOLD YOUR STOPS) you are a winning trader. It's not about the money (50 share trades) it's about becoming a disciplined trader.
Today's trades all under 100 shares. I closed out with loss of $17.00 and a good lesson learned. As I stated in the prior post I heard a sermon where the preacher said "are you a successful loser?" I yelled out loud "No I am a losers loser, but not anymore."
To many trade I've lost ugly. By my own mistakes I learned to become comfortably numb. This week I've made a very small profit, and I am happy for that since I am doing things right. A good friend of mine in Canada said to me. If someone came up to you on the street on a Friday and said "here's $50, would you turn it down?" I said "no." So thinking in those terms I did better then many traders who had a tough go this week. The great wall was built one small brick at a time.
So here is the lesson for the day.
The NVIDIA Corp short trade should never have been made. Rising stock, rising market, What the hell was I doing shorting. That was a losers loss, since It had such a tiny chance of winning. I didn't take the time to think it through before I placed the trade. Same could be said for my Time Warner Inc trades.
Tomorrow is another day to correct my skills and provide a better EOW stats for my 1st client. (My wife.)