What Does It Take?

Many times, people think that there is a secret.

But the truth is it's just the timeless things mentioned over and over and over and over again.

And it's going to sound really cheesy.

Like "doing what you love" or "not giving up."

The challenge is when people say "Don't give up."

Other people just think, "Oh that's too basic! Alam ko na yan. Yan naman lagi sinasabi."

You hear it all the time.

But people don't implement it and incorporate it as part of their lives.

But really, that's just what it is.

The most successful people just never gave up despite all the failures.

In every single thing that they got working, people don't see the 80% that didn't work.

So when you encounter failure, realize that that's part of the process.

If you take a look at every single person that's ever done well, that has made an impact to the world, you will realize that failure is unavoidable. It's part of the journey.

The challenge is most people, when they see something or someone fail, they think that it's not supposed to happen. IT IS supposed to happen. Because it's part of the process.

When you take a look at every person that's done well, changed lives, made an impact, made a difference, everybody fails.

The question is

"How fast can you pick yourself up and continue without loss of enthusiasm?"

Boom and Bust

a reaction paper on the film "Wall Street"

The very first thing I can relate to is how the movie started. Bud Fox commutes to work. He rides the train and walks a few hundred meters to get to his office. When he arrives, he still has to slug it out with other employees in order to get to the elevator first. I experience this every day at work. I walk to the tricycle terminal under the scorching heat of the sun, get to another place where I ride a van bound to Ayala, get off at the last Mini Stop at Kalayaan Avenue, then walk a few hundred meters to my office building where most of the time, the line to the elevator is long.

An old man by the name of Dan reminds me of my not-so-young officemates and some family members. They’re in their late 40’s and early 50’s and yet they’re still working their asses off doing what they don’t want to do just to earn a living.

Bud Fox’s boss said “Stick to the fundamentals. Good things sometimes take time.” While most traders who can relate to this quote would say it’s an approach to trading (fundamentals vs technical), I saw it as a reminder for me to stick to the basics. I realized that I reached five years trading and yet I don’t have a sound risk management approach which is a fundamental requirement if I want to be a great trader.

Gordon Gekko is any great trader today. He could be Zeefreaks, Kidlat, Charles Lim, T3, or Imbang Klase. He’s an enigma. He’s so good he becomes an excuse for people not to try. I am like Bud Fox who wants to get in contact with these great traders. I did everything I can to be part of the Zeefreaks Tribe. I know I couldn’t get in via Subasta. So I tried my chances in the Gentlemen Bastards Program and failed. Then, after more than a year of following the tribe trying to copy their trades, I got in the Bastard Program.

“Life all comes down to a few moments.” This quote of Bud Fox reminded me of what Kap said at IMPACT: 

The challenge is getting past the fear that stops me from making that decision. 

“You wanna be in your sixties still pitching?” Bud Fox’s friend Marvin asks. This to me is something I dread. I don’t want to work for someone else ‘til I get 60 years old. That’s horrible. I want to retire at 40. Early 40’s is late enough. This means I have at most 15 years to be the best trader I can be.

“The public’s out there throwing darts at a board. I don’t throw darts at a board. I bet on sure things. Read Sun Tzu, The Art of War. “Every battle is won before it’s ever fought.”” According to Mark Douglas in his book “Trading in the Zone”, a good trader must have a probabilistic mindset which means that he should accept that his trade could possibly be a loss. When Gekko said he only bets on sure things, he probably means that he only takes trades where he has an edge where the probability of him being right is greater than being wrong. Otherwise, why take the trade? Why go into battle if it’s not in your favor? When I take trades, sometimes, I buy stocks where there are no set-ups. It’s just my emotion that took over. It’s just the fear of missing out manifesting itself. Sometimes I take trades that have bad risk-reward ratios just because I want to get back what I lost from the previous trade. Sometimes it’s just my boredom because my positions are not moving. All these things that I did, they are battles that I shouldn’t have gone into. I could’ve just stayed on the sidelines and waited for the perfect opportunity to strike.

“A fool and his money are lucky enough to get together in the first place.” These are the people who get one giant killing and immediately think it’s going to be like that forever. I personally had moments like this. When I made a killing in $ION from 0.70 to 2.00, I thought that I already have the skills to replicate it. Heck I even thought of resigning from my current job. That I could make money easily like that.

But the reality was, I didn’t have the skills yet. So after that trade, I kept on losing money until eventually, my port was down again by a huge percentage. Relating it to T. Harv Eker’s lessons, I was a “fool” because my financial thermostat was set at that fool level. So when the money came and got my port to “genius” level, I thought I was a genius. But then I gave all my profits back to the market because my thermostat is still at fool level.

“You need guys that are poor, smart, and hungry. And no feelings. You win a few, you lose a few, but you keep on fighting.” This is me. I haven’t figured out how to manage my emotions that well yet, but I know I have what it takes. I just have to keep going. Failing forward. Learning from my mistakes and not repeating them. Doing better than before.

When Gekko told Bud about his profit from his first real estate deal, he said “At the time I thought that was all the money in the world. Now it’s a day’s pay.” It reminded me of Henry Tan’s line from the last Road to Consistency workshop. “Yung port ko dati, day change ko na lang ngayon.” And also of what Kap shared sa IMPACT workshop.

• 5-year income turned to 1-year income
• 1-year income turned to 1-month income
• 1-month income turned to 1-day income

To all those who attended the last TRxForum, remember Kap's port snap in his CH play? The one that lasted five days? That's my 5-year income working for my employer.

By the time Gekko was trying to convince Bud to get inside information for him, this time, he’s like the personification of delusions of grandeur. Riches beyond imagination, rich enough to own a private jet, one hundred million dollars. Usually, this is what gets newbie traders into the market thinking it’s easy to get rich quick. Blinded by the rewards without weighing the risks involved.

“Remember, there are no shortcuts, son. Quick-buck artists come and go with every bull market. But the steady players make it through the bear markets.” This couldn’t be more true because I’ve had personal experience. This 2018Q1 was a bull market. I quadrupled my port in less than three months. But when Q2 happened, I lost almost all of my profits.  This is why I’m still studying and reflecting on what went wrong. What I lack and what I have to do more of. There are definitely no shortcuts when it comes to success.

“Bet the ranch. It’s on automatic pilot to the moon.” This is what hypers told me during my first years as a trader. This was especially abundant when I was a member of different facebook groups. And I personally got dragged into those schemes losing me my hard-earned money.

When Anacott Steel was going up, Bud Fox suggested to Gekko to sell it and book 24million dollars in profits. But Gekko said “First lesson in business. Don’t get emotional about a stock. It clouds the judgment.” This is another trading challenge for me. I realized that when a stock that I’m holding goes up, I get high. When it goes down, I feel depressed. Not every time. But certainly, there shouldn’t be any time to be emotional about a position. The best approach is to see it objectively and follow the trading plan. The scene was Gekko sitting on a couch watching TV. He’s so “in the zone” that he knows exactly what to do in that scenario.

“The key to the game is capital reserves. If you don’t have enough, you can’t piss in the tall weeds with the big dogs.” In trading, you can’t trade if you don’t have capital. And you certainly can’t ride the high flyers if your port doesn’t have anything in it.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Sun Tzu’s Art of War:

If your enemy is superior, evade him.
- I am a momentum trader and I don’t have a downtrend set-up yet. Therefore it’s better for me to stay on the sidelines, be defensive, and not trade on a bear market.

If equally matched, fight.
- I am a momentum trader and I thrive on a bull market. Therefore the best plan of attack on a bull market would be to go aggressive.
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“Money never sleeps, pal.” – Gordon Gekko
Passive income. Rich people make money work for them. They don’t work for money. They could sleep all day or go on vacation for a month and it wouldn’t affect their income because they have set up a system that works even without them.

“This is your wake-up call, pal. Go to work.” This quote applies to me in its truest sense. I’ve been trading for five years and yet I’m still not consistently profitable. I have read lots and lots and lots of articles and blogs about trading. I’ve watched thousands of trading and motivational videos. I’ve done thousands of trades. But I’m still not consistently profitable. This proves there is something wrong. Not only with my system. But most importantly, with me.

There is a scene where Gekko’s son throws a strawberry and it hits the face of Gekko’s lawyer. What’s saddening is the lawyer’s reaction. He couldn’t do anything but remove the strawberry. Not because it was thrown by a child. But because it was thrown by his employer’s son. Just like in my current job, I can’t complain about going to work even when there’s a typhoon. When I’m sick, I have to inform the authorities. I can’t argue about the boring stuff I do. I can’t refuse a double shift if there’s a shortage of people. If I want some time off, I have to let my employer know. Basically, my employer controls a significant chunk of my time and therefore my life. I want out.

“The stakes are going up. No mistakes.” In the big leagues, it’s different. The way I handled my five-digit portfolio should be different from handling a six-digit account. What more for the seven-eight digit account of the ZFT mentors. If I want to handle and make as much money as them, I should trade like them. No room for mistakes.

“We’re all one trade away from humility.” – Marvin
This rings so true to me. It has happened to me countless times where I would make a killing (+30%,+40%,+50% profits) in the market and then give all those profits back, even more, because of poor trading decisions. The market has humbled me so many times.

Darien is the personification of good trades. Whenever Bud Fox makes a lot of money, Darien is there.

When he makes a lot of cash, Darien makes him feel good about himself. Like he’s the best in the world and it’s never going to end. That Edison, Da Vinci, and Einstein are watching him do his flawless trade executions. That he’s a genius. But when Darien is not around, he feels down and incomplete. Darien runs his life. Bud Fox has an emotional attachment to Darien and he is aware of it. But he chose to tolerate this behavior because it feels good even if it’s costing him a lot.

Whenever I experience good trades, whenever I make 20%, 30%, 40% or more profits from a single trade, I have to admit that it really feels good. Like everything is awesome and nothing could go wrong. What I failed to realize, like Bud Fox, is that this “feeling” is what would cause my downfall. Because almost always after a winning streak, I would take bigger risks. I would take set-ups not in my arsenal. I would take factors which don’t help me in objectively assessing the market. As a result, my profits would get burned and I would end up with a loss.

“In my book, you either do it right or get eliminated.” Gekko tells the board of directors of Teldar Paper. To me, the market is unforgiving. If you come unprepared, you’ll lose your hard-earned money. If you trade emotionally, you’ll lose. It’s survival of the fittest. You can’t cry or beg your way to profitability. Only the strong survive. And strong people are those who can execute their trades objectively just like Gordon Gekko liquidating Teldar Paper. This is why he said “Greed, for lack of a better word, is good.” Because greed makes us better persons. Greed makes us better traders. It makes us hungry for knowledge and skill.

“Darien! Lightning has struck.”

“It’s not always the most popular guy who gets the job done.” The consistently profitable traders are not always the ones who post port snaps on social media. They’re not always the ones who are active on gatherings and always show up on events. They ask questions, plan for contingencies, and seek feedback.  Most of the time, they are the ones who spend their time at home, studying and reflecting on their performance finding ways to get better and better. Because as they say “Well done is better than well said.”

Gordon Gekko is like the market. He’s always right. You can’t argue with him. If you give him the slightest chance to take money from you, he will, just like what he did to Bud Fox and Bluestar. He’s all-knowing and always on full guard. If you get emotional when dealing with him, it’s over. He’ll take advantage of every single weakness you have and shove your face in the pavement. As what Darien told Bud, “Don’t cross Gordon, he’ll crush you.” But he’ll let you win sometimes. Yet the moment you try to take much more than what he’s willing to give you, you’re in for a beating. “It’s all about bucks, kid.”

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Bud Fox: How much is enough?
Gordon Gekko: It’s not a question of enough, pal. It’s a zero-sum game. Somebody wins. Somebody loses. Money itself isn’t lost or made. It’s simply transferred from one perception to another, like magic.
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Gekko tells Bud about a painting he bought 10 years ago for $60,000 which he can sell for $600,000. “The illusion has become real. And the more real it becomes, the more desperate they want it.” We can think of the illusion as a trade idea. The 3^rd telco play for example. When one saw $NOW as the potential 3^rd telco play, he buys a lot, then tells other people, posts it in various facebook groups, then more people buy it. The more people buy the trade idea, the more real $NOW becomes THE 3^rd telco play and the more desperate people want to have it. The price then goes up and up until eventually, the illusion reveals itself as simply..

...an illusion.

Bud tells Mr Mannheim to buy Bluestar but the old man told him, “The main thing about money, Bud… it makes you do things you don’t want to do.” And he’s right. Money makes me do things I don’t want to do. Like wake up early in the morning to prepare for work. Force-feed. Shit. Commute under the heat of the scorching sun. Do things that only make my employer richer. Do it for nine hours. Go home. Sleep so I can do it again the following day. But on the bright side of things, money makes me improve my own self. Money demands that I become disciplined in order to make more money. Money makes me push myself to my limits and break past them.

“Man looks in the abyss. There’s nothing staring back at him. At that moment, man finds his character. And that is what keeps him out of the abyss.”  - Lou Mannheim

Here is my personal reflection on this quote.

“Man” is me and “the abyss” is self-destruction.

“Man looks in the abyss. There’s nothing staring back at him.” He means that there is nothing to gain by being self-destructive. There is nothing to gain by dwelling on what went wrong or what could go wrong.

“At that moment, man finds his character.” By realizing that there is nothing to gain from dwelling on the past or looking at what could go wrong, I can focus my energy on myself. On finding out who I am and what I am capable of. I can focus on my strengths. I can focus on what I want to do and what I need to do.

“And that is what keeps him out of the abyss.” By attaining self-awareness, I can overcome failure.
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Bud’s boss, Lynch, is like some of our friends and family who are only there for us when everything’s going well. They praise us when we do good and celebrate with us. But when the downtime comes and we need help, they’re nowhere to be found. When I told my family that I’m going to pay a certain amount of money for the IMPACT workshop, they were all against it. “Baka ma-scam ka.” “Ibangko mona lang yang pera mo.” “Umayos ka nga.” “Wala kang mapapala dyan. Sayang lang pera mo.” But whenever I made money, they’d ask me to treat them. It’s very disappointing and saddening to finally realize, that the one’s closest to me are one’s who’ll stop me from succeeding. Maybe because they want me to become as miserable as them. But I’m not like them. The things I learned from them are just mental files as T.Harv Eker would say. I choose to adapt new ways of thinking that support my happiness and success.

“Maybe that’s the price, son. It’s gonna be hard on you. But maybe in a kind of screwed-up way it’s the best thing that could’ve happened to you. Stop going for the easy buck and produce something with your life.” Bud’s father reminds me that failure can sometimes be the best thing to happen to me in order to teach me a lesson: NEVER TAKE THE SHORTCUT. That I must welcome wrong turns and mistakes. Success encompasses setbacks. Skills take time. Mastery takes time. Success takes time. 

Allegory of the Cave

There was once a gathering of people who have lived chained to the wall of a cave all of their lives, facing a blank wall. The people watch shadows projected on the wall by things passing in front of a fire behind them and begin to designate names to these shadows. When they see the shadow of an object, they assign a word to call it. Let's say it's a book. They see the shadow of it and assign the word "book!" But it's not really the actual book that they are calling book, it's just the shadow of the book. The shadows are as close as the prisoners get to viewing reality. The prisoners are unable to see these real objects that pass behind them. What the prisoners see and hear are shadows and echoes cast by objects that they do not see.

Every day, these people in the caves watched shadows projected on the blank wall. They created a game of guessing which shadow would appear next. If one of the prisoners were to correctly guess, the others would praise him as clever and say that he's the master.

Then one day, one of the prisoners, let's call him prisoner Z, got away and leaves the cave. He walks outside into the sunshine for the first time. He is immediately blinded by the sun but his eyes began to adjust.

For the first time in his life, he is exposed to sunshine and light. He is shocked at the world he discovers outside the cave and does not believe it can be real. He sees actual flowers, the colors of birds, the nuances on the bark of trees. When told that the things around him are real while the shadows were mere reflections, he could not believe it. The shadows appeared much clearer to him. As he becomes used to his new surroundings, he realizes that his former view of reality was wrong. He can now finally see the true forms, shapes and reality of the shadows he thought were real. He begins to understand his new world and sees that his former life and the guessing game they played is useless.

Now, what would Z think of his companions back in the cave?
He felt sorry for them and their limited reality.

Immediately, he came back to the cave to try to help out his companions who are still mired in confusion and error. But he is no longer used to the darkness and had a hard time seeing the shadows on the wall. Because he's become used to the sunshine and light, he can hardly see anything under the ground and looked confused. To the prisoners in the cave, he looked like he's lost. He eventually finds them and urged them to escape the cave and venture forth to the outside. But they laughed at him and thought he was crazy.

The other prisoners thought that the journey has made him stupid and blind. They threatened to kill him if he tries to set them free. Most people are not just comfortable in their ignorance but hostile to anyone who points it out. When you tell people they're wrong, you get nowhere. You offend them.

Human understanding of truth is limited by our experiences. We can never fully understand reality because we can only know about the things we have experienced. So our perception of reality is based upon this -- that we must transcend this by expanding our knowledge.

I know you've been wondering. What does this have to do with trading?

Last month, on the 15th, there was a gathering..

..of people who have lived chained to the wall of a cave all of their lives, facing a blank wall, and some people who got away and left the cave, walked outside into the sunshine and discovered what it's like outside the cave. Some of these people shared what they found when they stepped outside their comfort zone. Their own journey to discovery. The lessons they had to learn the hard way. Their trials and tribulations.

Think of the people trapped inside the cave as majority of the people who entered the stock market world. We symbolically represent the prisoners in the cave, all of whom are stuck perceiving reality in a fixed and specific manner. We are all prisoners in the cave. No one chooses to be in the cave. It's just where we all happen to begin.

What about prisoner Z, the person who escaped the cave?

This represents the small handful of people who dare to think and act in a different way from the crowd. It's not because they're better than everyone else that they've "escaped the cave." It's simply because they've made a decision to consistently step outside their comfort zone, face their fears, and think differently.

So how can you escape this cave?

We all have the capacity to learn. But not everyone has the desire to learn.

The process of progressing out of the cave is about getting educated and it is a difficult process. If you want to leave the cave, you need to question your beliefs. When getting an education, there is a struggle involved. We want to resist because knowing the truth can be a painful experience, to a point that it's easier to be ignorant. It takes courage to step outside your comfort zone and think different than before. Not everyone will understand and be happy for you. Just like how the other prisoners responded to prisoner Z's return, you can expect friends and family to laugh and ridicule you. It's normal to face criticism once you leave the cave.

We all start in that cave. But we don't have to stay there. Perhaps on  that day, a glimmer of light punched a hole in your most basic assumptions. Will you break free to struggle towards the light even if it costs you your friends and family? Or will you stick with comfortable familiar illusions?

Remember, it's not enough to leave the cave. It's more important to stay outside of the cave.

Trade Review: WEB

As the title suggests..

Let's start with the set-up.

I have been eyeing this stock ever since it held that 76.4% Fibonacci Retracement Level.

But I never bought because there were no signs of strength.

I was waiting for it to breakout of the 20MA.

Yesterday came, and it closed above the 20MA.

I bought. With a cutpoint below the 20MA.

Right after the close, news came out that Ongpin sold his shares at 2.60. That's less than half of the current price. 

As much as I'd like to stay away from news and rumours, things like this are bound to appear on your news feed (somehow). It's up to you how to deal with it. I didn't do anything.

I just monitored my position the following day, ready to cut. The stock gapped up at the open and rallied strongly. I did not sell when it reached the 7.00 levels during the first hour of the trading day. Because hey, let your profits run right? And as I saw that things were looking good, I averaged up at 7.15 only to sell it at 7.00 because my cutpoint was hit. That was yesterday's position + today's. I profited some.

But I was still watching it. Waiting for a re-entry.

I saw it go back to AOTS at a price point that offers a really good Risk-Reward Ratio.

I hesitated. I didn't buy.

Instead I bought at a higher price (7.25) only to be shaken out a few flucs down.

I did not follow my cutpoint. I sold a few minutes before lunch. I lost some.

Right after lunch, it broke out and rallied to my target price (9.10) and closed far above all of my entry prices.

Here are what I believe to be my errors on this trade:

1st error - My initial position was bought using the Daily Chart. My 2nd position was bought using the intraday chart. When my intraday cutpoint was hit, I sold everything. An option could be selling only the 2nd position and leaving the initial position and deciding what to do with it at the close.

2nd error - When I tried to trade it again, I hesitated on a good Risk-Reward Ratio set-up. And although I could only say this now, I had recency bias back then. I was afraid that this position, too, would be cut. So I did not buy.

3rd error - When it rallied right after I passed on it, I chased. Making my average entry price, higher than if I didn't hesitate a few minutes back. And because I didn't like my entry, I was easily shaken out.

4th error - OR NOT - The stock broke out of its previous high and rallied strongly to my set target price. During this time, I was in transit. I could have checked it thru mobile. I know the breakout point. But I didn't have the willingness to do it. I just waited for the close.

Overall, I made money but I also made a lot of mistakes.

Don't stop learning.

10 Hard Things About Trading

It is hard not to trade too big and go all in when you really believe in a trade but it is even harder to take a big loss if it goes against you.

It is hard to keep taking your entry signals when you are on a losing streak and it is also hard to miss a signal and watch it go on to be a big winner.

It is hard not to add to a losing trade when the price keeps looking better as it falls lower and lower but it is also hard to be on the wrong side of a trend.

It is hard to buy a breakout because it looks too high and it is also hard to miss out on the beginning of a big uptrend.

It is hard to cut a loss early with the ego wanting to be right about the trade.

It is hard to let a winning trade run when you would prefer a quick gain rather than a bigger long term gain.

It is hard to buy when everyone is fearful and hard to sell when everyone is greedy.

It is hard to trade through different types of markets, bull markets, bear markets, volatile, trending, and range bound markets because the rules keep changing.

It is hard to ever quit trading after you have tasted how sweet a big winning streak is and how life-changing it can be.

It is hard to convince your friends and family that there is a process to your trading and that you are not a degenerate gambler.

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.

Testing Daytrading

I kind of lack motivation to write lately so forgive me for this post will be quite short.

I've been in a trading yoyo and I want to focus my energy on studying my errors.

Here are my trades for the last ten days four days of which were spent on purging.

And that's it.