Woke up late… Slept late… Bad. Today I had a day off as well so i could’ve been on the whole day. I fucked it up. Fuck.
Had some pretty bad buys here. I realized the trend was bearish on WIMI, but I wanted to practice buying when the trend was down, so I could get better at scalping and getting in and out real quick. Honestly this is not the way to go. Comparatively, it is much more emotionally challenging.
For example, let us compare the two big trading areas for today:
The first trading area on the left, I was buying as the stop was going down. This was just too much, as I kept on having to average down to get out at break even. Now, a bit more to the right, we can see I started buying as the stock jumped up past the 26 ema, the yellow line. At the end, we have a couple of good buys and sells. These were good because I had identified a head and shoulders reversal pattern, the stock had just broken above the EMA’s, and when I entered, the force index was much lower compared to the previous drop:
To the left of the top circle, I was pretty much done and just messing around buying and selling. Lost all my profits on WIMI to the point, but the good trades after that made all that back. I also sized up to 150 per lot for those last 3 buys.