Take a Knee, Bastard

"With a steel sword like that, you can't even add a scratch to this ultimate shield." - Greed

Earlier this week, I had a conversation with my mentor.

And with a fellow bastard.

But despite the motivations, the guidance, I was too stubborn, too greedy, too foolish.

Friday.

I was all in on MCP at 4.18.

Monday.

I sold a few minutes after the open.

My cutpoint has not been hit yet. I just sold.

Why? Because I wanted to daytrade again.

"I can just make a quick profit from here and roll it over to there. EZ panizi."

So I daytraded WEB and IMI thinking I could replicate what I did last week.

But I was wrong. The situation has changed. The chart has changed. The market has changed.

I lost in both trades. MCP went up. Told myself that it's fine.

Tuesday.

This time, I was all in on ARA from yesterday's close.

After a few minutes, I sold 2/3 and daytraded, you've guessed it. WEB. F*cking WEB.

Lost again. At closing, I bought TECH because it broke out of 24.00, a really significant resistance.

I also bought CAL at 3.55.

Wednesday.

I sold half of CAL at 4.00.

"Good work. That somehow covered our losses in ARA and WEB." I told myself.

"Maybe I can make more." So instead of waiting for the breakout of 4.15

I averaged up at 4.03. Then at 4.06. 4.02 Until I was all in. It didn't break out. It broke down.

I sold when it went below the opening price. I gave back what I made. And then some.

But I didn't stop there. "It just takes one trade to get it all back."

I was revenge trading. I was f*cking revenge f*cking trading!

I bought IMP at 22.40. "This stock is capable of making big upmoves." I'm good with this.

Then I saw ARA. It was back to 3.20 levels. "At 3.45 this will be a borg." I said.

I sold IMP at 22.25 and bought ARA at 3.25.

I bought TECH at 24.90 and went on commute to work.

When I got to the office, ARA was 3.05. I sold.

TECH was 24.80. I sold.

It has only been three days and I have already made 15 trades.

That's right. Fifteen f*cking trades.

Out of fifteen f*cking trades, only two were winners. Only two.

Please bear with me.

Because now I'm going to delve deeper into myself.

I need to know the reasons why I made these terrible decisions.

What got me thinking the way I was.

Sometimes, the only way out is through.

MCP

Bought 4:18, Sold 4.10

Error: Fear of Missing Out on ARA.

WEB

Bought 6:22, Sold 6.16, 5.88

Error: The urge to daytrade even if the set-ups are not that good.

ARA

Bought 3.02, Sold 2.98 (bottom, whipsawed)

Error: No conviction. Sold after 18 minutes even if daytrading was not the plan.

MCP

Bought 4.25, Sold 4.25, 4.28

Error: Fear of Missing out on ARA. (ARA closed 3.18, I was right. Need to go all in.)

IMI

Bought 6.89, Sold 6.85

Error: NONE

ARA

Bought 3.18, Sold 3.18, 3.10

Error: The urge to daytrade WEB even if there was nothing good with the chart.

WEB

Bought 4.85, Sold 4.71

Error: This shouldn't have been traded. There was nothing in it.

TECH

Bought 24.20, Sold 24.35

Error: Breakout of 24.00 but still sold so I can buy more CAL for daytrading.

CAL

Bought 3.55, Sold 4.08

Error: Should have sold everything. It was supposed to be a quick trade.

CAL

Bought 4.03, 4.06, 4.02, Sold 3.85, 3.81

Error: Did not wait for the best entry. A breakout to 4.14. Hope.

JAS

Bought 4.10, Sold 3.94

Error: Chased

IMP

Bought 22.40, Sold 22.25

Error: Revenge trade.

ARA

Bought 3.25, Sold 3.05

Error: Fear of Missing Out. Chased. Best entry was a breakout of 3.29.

TECH

Bought 24.90, Sold 24.80

Error: Fear of Missing Out. Just wanting to have something where I was right in hindsight.

____________________________________________________________________________________________________

I lost money.

And I was lost.

____________________________________________________________________________________________________

Sir Lance and Ms Akio, they were right. But I was too stubborn. I thought I was invincible. I thought I could just make money that fast. And when I lost, I felt I had to gain it all back faster and make more than I lost. How stupid could I be?

I'm sorry Sir Lance.

I know you never failed to remind me of my past mistakes and what I should do.

I broke the rules.

I ignored the lessons.

I jumped from stock to stock.

I traded without plans.

I'm probably one, if not, the worst student the tribe has ever had.

Take a knee, bastard.