Lost control

[akaduxau]

Hi,

Yesterday I lost control, I did,

I was in short trade in $JUNO after bit crazy open we got a very nice downplay erased 3$ and went lower, I wanted to get at 52.1$ with stop at 52.53 but the stock brook to new lows and I got in the break out, this was the first pain, instead of getting with 43 cents stop I had to get in at 51.85 with stop at 52.35 50 cents ain’t that bad but 25 cents lower,

Now part of my system is to trade this breakouts and check before what is the maximum stop lose I am willing to pay, according to past move (at the same day) and I decided that 51.85 is good entry,

What kicked in me was the fact that I was the Ask but I didn’t get it, happen before will happen again many times, don’t have any control over it, should ask myself if the price was above an obvious resistance, or I was too afraid to place the order otherwise it is part of the business, if you have a restaurant a client can came in and then decide to go away without any explanation, part of the business,

Then we started to work our way down, but we found some nice support while the market did made new lows, and we got a strong retracement till 52.27$, and we couldn’t take the 51.75$ level, I could see it I knew it, but still, my stop is 52.35 and we are just next to it, and I done the worst thing I could do, average down,

Average down is the perfect way to kill an account, because you don't accept the loss, you keep fighting the market, and hope that it will all end till the pain will take you out, be sure you will feel physical pain once the loss is just too big,

And I done it, I didn’t moved my stop, it stay with the same and I used the great conviction of selling the same amount of stocks I already sold at 51.85 but now at 51.25 , 10 cents 20% risk extra and I promised I will add the added quantiles to the original profit targets,

I wanted to be correct, I wanted to revenge the market, I want to feel pain, this is what I wanted, to feel pain, to throw away all the good work I done till now: working according to my trading system, taking trades that fits all my criterion and if nothing comes o.k. “No pasa Nada”

One market wizard said: we all get from the market what we really look for whether we know it or not and this is true, I looked for emotions, I looked for excitement, I looked for pain, and I got it, am I happy now? Well I can’t always get what I want, I wanted excitement but with money, just got the thrill, junkie as I,

One thing I learned from past experience is to cancel the next trading day and to study the reasons that lead to this loss of control, this is where I am now,

So why did I wanted to feel pain? I am sure it is connected with the lack of faith in myself my system, my, my, my, but how? Is it self-sabotage mechanism that comes back each time to end things, do I look to blow away my account so I will give up without giving up? I will have the perfect excuse: well I lost it all, same like the Market Wizards or better Jesse Livermore,

I still don’t know the real answer and maybe I am too afraid to touch this wound I don’t know, but this is a perfect example how one become the worst enemy of one system.

Wish you all the best,

Make the odds in your favor DayTrade

Eldad Nahmany

[agvamihuuzo]

[Angeladom]

[aiywqexr47]

Please explain why will short there?
you are in a bound move and above 0, why will you get short ?

[AlfredoMl]

There are quite a few reasons actually... previous day continuation, psych $55 right above. These are just some contexts behind understanding why a stock should be moving... The entry goes into knowing how trends ignite and end. That there ended any sort of uptrend the stock was currently in. The best part about knowing how stocks move is that it's one premise that you wait for. I don't call it a pattern because the look of it can be in all shapes and sizes... its the understanding of the premise that will explain most market reversals and trend continuations.