Daily Journal -1R

While it wasn't the best of days, it was a really productive one, I've actually learned from the actions I've made today and I'll detail the lesson.

SQNM:

I wrote it all in the graph, but the key note is that as Stewie says in the headline of his blog "Trader - Knows that winning trades work almost right away, which in my simplification I think that if trade went your way, and then went down, you should lower your exposure by selling half or more of the size when it comes back to entry point, because now that the trade didn't go your way, it can even go down to your stop, and we all hate losing a lot of money :) so I'll be lowering the size to lose half of it.

XCO:

XCO is the perfect gapper I caught in days, I got into the trading session kinda late today, so I spotted it a bit after it broke the nice B&B, and got in on the low of the up trading channel, the mistake here was that I didn't partial out, I quit full size which cause me to gain less than I could (problem of rich people hehe).

CLNE:

Just not a good trade, and again I should of limit the exposure..

So the lesson from today is about exposure, we want to be the least exposed to the market as possible, I didn't lose a lot of money today like I got used to (-6R and stuff hehe), so its a good thing, I'm still learning a lot, but I'm getting there :)

Have a nice day,