Trading Recap 9/2/15

Took another loss today even though my thesis was correct. I was just too early and never got the chance to get back in. Kind of disappointing but again, my stop was definitely too tight although I was looking for an immediate continuation move though. On the other hand, I'm glad I pulled the trigger. Unfortunately, I am almost getting to that $500 level again. At this point I am not expecting much. I will continue to trade until I either climb back up or just get to below $500 and stop until I have more money.

Arrows are entries followed by exits.

TRVN: I saw this was holding up in the early morning and I had drew a trendline. Downtrend line breaks on momo stocks are usually good entries and I could have entered here which would have been a great entry. However, my confidence is admittedly low and I did not feel it was a prime setup. Anyway, it consolidated a bit at higher levels and I noticed it had flushed and reclaimed support and then volume came in and it perked. I saw this has worked before on this stock so I went long at 10.06. It was sort of a chase as opposed to a dip but I thought there would be immediate continuation. There wasn't and so I sold out. However, my stop should have been 9.80 o/u although it did look like it was done a few times when it flushed below 9.8. The dips did hold up the entire time though. It did have a premature breakout and it did wash pretty bad but it still held that 9.8 support. At the time I was not sure if my entry was for a premature breakout although I think it could have easily continued higher from there. If it was a little later in the day but before 3pm I would have been more wary.

Things to work on:

1. It's good to have pulled the trigger and not have analyzed as much although that would have saved you here.
2. Really see what the stop should be to avoid these types of scenarios. A lot of plays are probably not possible due to your acct size but it is better to avoid them and stop out prematurely than to slowly bleed your account dry.