ALWAYS STICK TO THE TRADE PLAN. DON'T JUSTIFY ITS OK BECAUSE THE STOCK IS ON THE WATCHLIST. DON'T OVERTRADE

DON'T WAIT & ADD LATER. ALWAYS CUT THE LOSS. ESPECIALLY WHEN ALREADY IN WITH FULL SIZE. RECIPE FOR DISASTER. 

NEVER COMPARE STOCKS, UNLESS ACTUAL SYMPATHY PLAYS (IPWR to CBAY)

EXIT STOPS ARE OK BUT ENTRIES WERE SHIT

NEVER CHASE DOWN MORE THAN 1-2%

STAY AWAY FROM BIOTECHS & COMMODITIES

HAVE TO RESPECT HISTORICAL PRICE ACTION AS AN INDICATOR

NEED TO BE ABLE TO RECOGNIZE WHEN I'M TRADING EMOTIONALLY & TAKE A STEP BACK NO MATTER HOW GOOD THE OPP IS. 

I need to start thinking of my position size as a daily aggregate as well as per trade. Otherwise I'm not accounting for frequency. The days I trade more I fuck up more.

I MAKE ALMOST ALL OF MY MONEY FROM MY FIRST TRADE OF THE DAY. THEN THE OTHERS JUST TAKE AWAY FROM MY PROFITS. NEED TO TAKE ONLY 1-2 TRADES A DAY. I ALSO NEED TO PICK ONE STOCK TO FOCUS ON AND STICK TO IT. WHEN I GET INTO TROUBLE IS WHEN I START BOUNCING AROUND BETWEEN STOCKS. 

trades intraday	$
1	$74.27
2	$10.78
3	($3.58)
4	($5.63)
5	$0.83
6	($4.87)
11	($16.88)

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BCEI - close 2.45

#56-57 (set) - Bid as was 2.35 v 2.45 shit trade. chased because oil was deep red. Thought "I always see these down huge on big oil in the red days". NOPE. THAT WAS STUPID. That's what all of the other shorts were thinking. Squeezed the shit out of me. 

Got a 2.40 execution premarket at 9:07. That was an ok execution. Then at open was weak so chased to 2.37. MISTAKE. within 2 mins it was up to my smartly executed stop at r/g. 2.45. Spiked hard for 5-8 green miinute candles up to 2.50 and stalled.

#58.  Figured by now the shorts had covered. So i shorted the dying spike. THIS WAS A SMART TRADE. rode the pullback. 2.48 -> 2.42 & took profits when it stalled. 

UPDATE: WOW, now that I look at BCEI, this was a great job of cutting losses. Now at 2.92

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CBAY - IN HINDSIGHT, I WAS TOO EARLY. DON'T OVERTRADE.

so some back story on CBAY. Yesterday I shorted IPWR that was up from a crappy PR. Perfect short into failed bounce at 6.24. Then got shaken out for .06 and top ticked it almost an hour later. Then it proceeded to drop to under 5 by EOD. GREAT ENTRY, IMPATIENT EXIT. 

So this failed trade set the precursor mentality for my big loss today. I was bummed I missed the 20% drop from IPWR so I wanted to get CBAY when it did the same thing. BUT IT'S NOT THE SAME. Biotechs are so unpredictable. Especially right now. What I should have done in hindsight was shorting the first failed bounce after the huge spike. risking off the top. 

What a mess of trades. I actually traded this well with the first two trades. I was up 5% on it. I should have stopped there. BUT I wanted more because I compared it to IPWR & told myself it was going to go down like IPWR. THIS WAS MY MISTAKE. Then I saw GRAM had already tanked some & I wanted to get on the bandwagon for the huge drop I thought would be coming. 

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GRAM

#61 - GRAM - bottom ticked this because I chased like an idiot. Cutting losses quickly was the only good thing I did. Plain & simple. DON'T CHASE. Just ended up dipping in morning & then coming back near even. Just like it had in the. HAVE TO RESPECT HISTORICAL PRICE ACTION AS AN INDICATOR

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Now I'm all fucked up mentally. BCEI came in early and squeezed me that put me into a panic. I got out ok and ended up making that back. I made 5% on CBAY before & got out without scars. Chased GRAM. Now I wanted to catch CBAY on its big drop like IPWR had. 

My 3rd & 4th trades on CBAY were not too bad. should have waited for it to get nearer to r/g but didn't want to let it drop without me. MISTAKE. 

When I covered the 4th trade is when things started to go bad. A second or two after I covereddd my short at 2.179, it tanked hard to 2.05. I WAS SO PISSED. This put me in FOMO CHASING MODE. as soon as it came up a tiny bit I jumped on the bid full size at 2.11. Stupid MISTAKE. With no real resistance in mind until 2.20. 5% is way too much risk for a play like this. Then I ADDED at 2.17 another stupid MISTAKE. I covered for a large loss when I thought it was going to break out past g/r at 2.24 (even though it didn't). 

With the original trade & the add, I was in with over 2x the position I was comfortable with. Lucky it wasn't worse. This is fixable. Next time that might not be the case. 

The last trade was just a stupid scalp when it couldn't go r/g.