so I ended up basically breaking every single day trading rule that I have on
this one trade here I got greedy and I wanted a big payday and you know what
happens when you want a big payday you end up losing big
luckily for me I didn't go huge on this trade I only went in with a 262 shares I
try to get filled 300 shares didn't work out trying to get filled here on htz on
the last earnings report so the idea was basically I was going to short it right
here at clothes I got in there at 1431 and that was the plan so you can see
here the trade I got in here 262 shares there at 14 31 not a big risk but still
I broke a lot of rules and I'm going to talk to you guys about what rules that
broke and why I should have followed my rules and stuck to my guns here and
ended up in the green but instead I broke the rules and ended up in the red
I got greedy and it did not work out for me so the first rule that I broke with
this trade alone this is like probably the worst rule that I broke because I
never trade ers it's a total gamble you never really know what's going to happen
when stock it was a stocked it it's like man that's talking such bad news it's
going to crash I can have a baddy are and this is what happens you see in this
trade alone it proves that nobody has any clue what's going to happen the
stock and I broken them one rule of never trading an ER because this is what
happens every time I trading yar I always get screwed and I don't know why
I do it I don't know why I did on this it's been
a long long time since I trade an ER but I thought for some reason I've watched
the news I read the news oh oh htz is going to get killed
see AR got killed the day before why would an htc get killed right so it
makes sense I wasn't trading the chart I was just trading off the news I got
emotional I was following the news I was thinking the stock is going to go down
big if it drops down $8 I want to make you know I'm going to make two or three
thousand dollars here in a matter of minutes the risk rewards there so I went
in on it it was only 250 shares I had a good day I already made $5 so if I lost
250 wasn't a big deal but it was a gamble that's what I hate to do I don't
like to gamble and I ended up gaming on this trading to see how it worked out
for me it did not work out actually so I've got a little bit of a jump up here
to 1450 area and then I got that crash we crashed down pretty quickly back down
that 1380 1430 on the ask there couldn't cover a
thing like okay this is looking pretty good if we get
this drop I want to get the drop down of that 13 to other area that would be
beautiful and ended up getting that drop it ended up crashing down here to 1340
there and then oh this is beautiful this is going to crash for sure and look at
this move it drops down to $13 I'm up $159 right now it chops a little bit
lower there it is down to that 13 12 I'm up 243 dollars which is basically a
dollar a share and I could have taken problem right here I could have gotten
out for a win I could have got out for 248 dollars in profit but I was too
greedy normally any other day if I've got this
kind of move I got a dollar share I would have taken profit there I should
have taken profit there why wouldn't I take a profit and it was the greed greed
kicked in on me and I was too greedy thinking AHA this is going to go lower
it's going to go twelve eleven dollars I'm gonna make so much money here and
ended up what happens here is it starts to squeeze higher well then I'm thinking
okay I'm going to cover if it gets back above that 1380 area well boom from
thirteen seventy it jumped up to fourteen thirty seven right there I was
already in the red and I was thinking well I don't want to cover for a loss
this is going to drop this is going to drop give some time and then it starts
to squeeze higher gets up to fourteen dollars on the bid gets up fourteen
thirty four so on the ass I'm thinking we're pretty good as long as we keep
that ass there we're gonna get a nice drop I was greedy and I was thinking
we're gonna get a big drop so something just going on here and you can see from
1428 we get a big jump it jumps up you can see the spread sometimes here I
could have just covered could have broken even on this could have made two
hundred eighty nine dollars but instead I broke all the rules I was greedy I try
to force this trade I shouldn't have taken this trade I shouldn't have gamble
this is a total gamble and you can see how it works out really 1450 should be
my last stop I should have been strict I should have seen 1450 and gotten out
there but couldn't so jumped up to fourteen ninety five there so then I'm
down 106 five dollars I'm like oh shit I'm down $154 only gonna do am I gonna
trade this am I gonna just drop it right now crash out or maybe it's going to
come back down I'm gonna give it a second and you can see I was prepared to
cover and get to start squeezing higher and I really just you know the motion
kicked in I didn't want to cover I don't want to take a loss because I really
thought mentally you know this stock had bad news it actually missed the earnings
had missed it had bad earnings but still it got out there to fifteen twenty and
ended up for a 200 loss there on that trait so
really just not working out really just breaking all the rules breaking all my
personal rules and trying to force this trade here on htz and it just didn't
work out you can see it goes higher when I was like 1550 at one point and it came
back down and now today at the $18.00 so really the goal
so really the moral of the story here is don't break the rules follow the rules
that you've set every person should have their own personal rules what things
they have problems what things they always stay away from me trading in the
ER should have been a clear clear rule to not break and I broke it and that's
where I went wrong I broke my er rule I broke take profit rule I broke the greed
rule I broke mine cut my loss fast rule so you know I basically broke all five
rules that I have for day trading in this one trade and you can see how it
cost me imagine if I had a thousand shares I probably were taking profit
there with a dollar move because I've been up a thousand dollars but I
smaller-sized I really gave a little bit more time was the greed I was greedy
with it and I ended up having to cover therefore a loss so I'm just trying to
explain you guys give you guys an idea of what happens when you break the rules
when you let emotions get into your trades when you trade emotionally when
you try to force trades when you don't just trade the chart when you're trying
to trade the news so mentally in my head I'm thinking HTC has bad earnings it's
going to crash and I try to force a trade so hopefully this gives you guys
an idea it's not always winners for me I do have losers this one here on HTC not
a big deal only losing $220 there on that trade because I the smallest size
and I risk management there you know I wasn't going at the large size because I
wasn't hundred that shirt and I knew that it was a gamble but overall still
losing out on that trade where I should have taken profit when I was up a dollar
a share cuz it I mean I was beautiful I was up at the dollar share I could have
covered there could have gotten out for 250 bucks problem
you