~Flashback sometime in mid-February~
I decided to wait for the month of March to end before I start posting all my trades here. I wanted to have a fresh start because I already made a lot of mistakes this quarter.
I was thinking that my skill in analyzing charts will greatly improve once I attended this technical analysis webinar which will take place in a couple of weeks.
I imagined that my blog will be full of winning trades.
I can see it!
I can feel it!
Alas, after seeing the result of my trade this morning, there’s no denying that I’m still the same.
I don’t think waiting for the quarter to end will matter because old habits die hard.
So without further ado, let me show you my foolish trade for today.
Okay, before you say anything, let me rationalize why I entered the trade.
On March 22, SUN broke out from the 1.13 resistance with high volume. Who knows, it can be another DAVIN or DD in the making.
So my plan was to enter at 1.21 which was the closing price. My target price was 1.36 and my stop loss was 1.13 with a Risk Reward ratio of 1:1.9. Not bad huh? *wink*
Oh boy! Was I surprised?
What can I say, I’m a chart chasing monkey who can only monitor the price after the market is closed. So yeah, lesson learned the hard way.
Come to think of it, do I really learn from my mistakes? I’ve been doing this for the past 3 years.
Over and over again.
Am I insane?
Note to self: Never chase.