Daily Recap: Missed Opportunities and Lessons Learned

Today wasn’t my best trading day, as I let potential profits slip away by not moving my stop loss aggressively enough. I ended the day with a loss of $22.26, bringing my account balance down to $1,035.90. Here’s a breakdown of what happened with my trades:

Trade 1: VOXX

My first trade was on VOXX, a stock that caught my attention due to some news. After hitting its high, the stock pulled back, and I considered an entry as it started to climb back up. I entered at $5.01 with a 20-cent offset at $4.81. However, this trade didn’t meet my usual criteria—specifically, the 5-minute MACD wasn’t positive, which should have been a red flag. The ramp was also too shallow, making this a risky trade. As expected, the price didn’t continue upward, and I was stopped out shortly after my entry at $4.80, resulting in a loss of $22.29. This was a clear case of not following my own rules, and it cost me.

Trade 2: TRIB

My second trade was on TRIB, which sold off at the open but began ramping up soon after. I saw an opportunity to enter at $3.03 with a 15-cent offset at $2.88. The trade initially moved in my favor, and I moved my stop up to break even at $3.03. However, this is where I missed an opportunity—I should have been more aggressive in moving my stop loss as the trade progressed. There was a chance for a 2:1 RR on this trade, but I hesitated, hoping for a 3:1 RR. Instead, I ended up with a break-even result. In hindsight, taking a 2:1 RR profit would have been the better move, even if the price had continued to climb.

Overall Reflection

Today’s trades highlighted a couple of key areas I need to work on. First, I must be more disciplined about only entering trades that fully meet my criteria. My first trade on VOXX was risky and didn’t align with my rules, leading to an unnecessary loss. Second, I need to be more aggressive in moving up my stop loss, especially when a trade reaches a 2:1 RR. It’s better to secure a smaller profit than risk losing it all or ending up with a break-even trade.

While today wasn’t profitable, it provided valuable lessons that I’ll apply moving forward. My focus now is on tightening up my entries and exits and making sure I capitalize on opportunities when they present themselves. Tomorrow’s another day, and I’m ready to put these lessons into practice.