Trading with Ricky Day 24

Day 24

The first issue I'd like to discuss is the 48% loss experienced with ticker WAFU. I opted not to journal the chart because this wasn't a matter of strategy but rather an emotional reaction. Investing in a Chinese stock already contradicted my established rules. However, I couldn't bring myself to accept defeat, a significant error in stock trading, and held onto it with the hope that it would rebound. Predictably, it did not, and I held onto it until it hit rock bottom. If I had been using my planned position size for future trades, I would have incurred a loss of over a thousand dollars. Using small shares for practice shouldn't justify gambling or making emotional decisions. I won't increase my position size until I've mastered emotional control. Furthermore, a cursory glance at the 5-minute chart would have revealed that it was a pump-and-dump stock.

Once I regained my emotions, the rest of my trades were successful as shown above.