JDSU - GAP DOWN PLAY - "BUY THE NEW LOW PROGRAMS"

DAILY

5 MIN

1 MIN

WHAT I DID RIGHT

• KEPT STOP LOSSES TIGHT AND GOT OUT WHEN I NEEDED TO AS TOLD BY THE MARKET. GOT OUT WITHOUT LOSS

WHAT I DID WRONG:

• I CHASED NEW LOWS ON THE CHART AND THEN IT WOULD CONSOLIDATE WITH "BUYING THE NEW LOW" PROGRAMS KICKING IT HIGHER.
• I NEEDED TO BE MORE PATIENT, WAIT FOR RETRACEMENTS INTO THE DOWN TRENDLINE OR AS CLOSE TO PRIOR LOWER HIGH AS POSSIBLE AND LOOK FOR FAILURE TO SHORT INTO
• NEVER CHASE A NEW LOW.
• POOR RISK ACCEPTANCE. SEE BELOW

WHAT NEEDS IMPROVEMENT:

• Need to condition myself that trades are independent of each other. If a great setup appears, I need to be able to risk more money to get in on the trade!
• DON'T BE A WUSS!
• The most I could be risking was 20 cents. That should have given me at least 500 shares to start with and then scale into additional shares position is going in my favour. Risking 20 cents to making 80 cents is a must pay. I mean the next longer term support isn't 80 cents away!!!! get in on the trade! 
• RISK 100 TO MAKING 300 TO 400, WHY NOT!!!??? 
• STUDY THIS CHART AND PREPARE YOUR MIND