Losing trade-Lesson Learned!!

I had my first losing trade in a very, very long time. I have no one to blame but myself. I will try not to convey how disappointed I am in myself, and humble myself down to helping someone else opposed ot have a pity party.

I have been having computer issues over the last week or so. Today was my first day back in the market. I thought I saw CF setting up for me. I bought 6 180 Put contracts on CF this morning ($5,014). I bought in on my 10:35 candle from the 13. I was so fixated on what the 13 was revealing until I lost the importance of my trend chart-55 and all other major indicators. I got a little cocky and thought I could just "Pop" a quick trade and get out with a decent payday. Well, it did not happen that way. Good news is, I only lost $200 and could have lost a lot more if I would have not stayed true to my loss tolerance point. When I saw it was not going in my direction after about 15 minutes, I was out with a minimal loss. It could have been a lot worse.

I made several mistakes. Rules that I broke were:

I did not fall below the previous day's low.
The MACD and StochRSI had falled below or near the 0 on my 13 (just dumb to enter after seeing that ).
The ADX line was far to high.
I did not wait on the "E" on any chart
RTT did not show a strong surge in the direction of a possible put trade
The Market was sitting stagnant and did not show any strong directional movement
Look at those long wicks on the 9:30 candle off the 55. That is just crazy to go into a trade when seeing that.
Missed the "3 knock rule". Off my 13, I got 2 knocks on the 50MA and a charge up and through the 50MA. If I would have waited, it would have been aparent that the candles were not going to charge down.

I only shared this with you because I want you to learn from the good trades that I make, and the ones that I am almost too embarrased to share. I would almost rather crawl under a rock rather than share these stupid, elementary mistakes I made. I simply lost my bearings over the last week and paid a price for it. I missed 9 major indicators- 9!

How do I minimize my chances of this from happening again? Well, greed took over, so I am forcing myself to slow down and allow my trading mind come back to me. I need to nestle back into the area of patience, precision, and execution. I will start back practicing and re-programming myself to stay consistent. I will not allow myself to have one bad trade after the other and the other. I have adopted Darcy's rule. I will replace that money before I trade another penny. I will take the $200 from my monthly allowance that I provide for myself.

Last thing, for those of us who trade intraday, we must stay ontop of everything. If we lose focus and think we are going to snipe a stock without all guns loaded, get ready to get shot down before you ever raise your gun.

I hope this helps because it does not feel good to look like and idiot and make "bonehead" mistakes when you know better.

Train well and trade the evidence

Thanks for sharing that trade. There is always something we can learn from the good and the bad ones. It is good that you followed your rules and exited when you did to live to trade another day, and WOW did you see what happened to it in the afternoon. I know you are glad you exited before that.