Thursday, December 19, 2019

FB money burning a hole in my pocket loses 41%

Daily setup: long term trendline break
Entry/play: surge, pullback near VWAP. I entered wrongly. I tried to preempt the VWAP bounce and priced it with the money I had left to trade with. I should have waited for stochastics to cycle all the way down. If I had, I would have lost less or I hope I would have seen the dip and passed altogether.
Management: first stop was sort of random, since I didn't buy against a decent pivot. Second stop was against a pivot buy my trade trigger was set wrong so I sold it even farther down.
Psychology: first trade today was huge winner. I went small into this one by force of funds availability, but I should learn from that lesson, after an amazing trade, go small and don't ruin the day. I got what I deserved here for playing it wrong. I'm just glad I didn't ruin my day bc of it.







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