Trade #7 & #8 – $CERU & $MSDI 7/6/17

Watching CERU & MSDI, both gainers

$CERU – focusing on buying the morning dip. Other traders taking profits while momentum from good news will give CERU room to run.

  • Risk: 10 cents below entry ($100)
  • Target: 30 cents above entry ($300)
  • Size: 1000 shares
  • Catalyst: good news from Dare Bio-sciences regarding merger / partnership. Day 1 spiked, likely news is slow to spread, there will be another green day.

$MSDI – same exact play, same risk / reward from entry, same size if possible, if not scaling down to 500 shares


7/6/17 7:56AM

Horrible trade. Currently down ($450)


I went long on a strong red day.


I added to a position (doubled it) out of pure greed.

I ignored my 10 point mental stop because I listened to hope & emotion over logic and my plan.

Mentally, I couldn’t cut the trade off because I “felt like” it could make it back to break even. I felt horrible for losing almost ($500) in less than 15 minutes.

I feel like shit, I lost money, I didn’t follow my plan.

I will not allow yesterday’s success to lull me into today’s complacency, for this is the great foundation of failure.

– Og Mandingo


 

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