01/22/2016 Trade Status for $CSII & $SWN

I make two trades today and I'll go over it. I hope that you can learn from these mistake.
$CSII is very beat chart, down pretty good today as daily chart shown below.

My plan is to short on fail support level $8.25 as you can see the 2 circle spot below. I'll scale up to my risk level. I added about 4 time and my average is about $8.20 which only risk $0.05 but I got carry way and didn't want to admit I am wrong to cut loose anywhere between $8.25-$8.35. It just keep poping so I have to cover all for $0.30 loss. Lesson learn here is that I could stick with my plan and cut off at $8.25 then it's good risk management. Moving on to the next trade.



$SWN is consider over extended chart, I had been watching this one couple of days and today is starting to sell. The plan is to short when support level $8.64ish fail. I start in small short position around 10AM when I saw the $8.64 crack but then volume come in huge and I have to exit the position around $9.00 for about $0.40 loss. As you can see the candle are so big that is why I start in with a very small position just to see if the plan work or not. Once I lost that $0.40 I am done with it and move on, maybe check back and see if this ticker form another setup.


When I check back it's already drop below my original risk level as $8.64. The plan now is to short and scale up to that risk level of $8.64. I shorted $8.52, $8.54 and saw it moving up, at this time I just wait and see if it top out  at my risk level $8.64 but it didn't. When it drop below my risk level $8.64. I short some more but didn't crack. At this point I either cut off or move my risk level higher to the previous day closed as $8.80. I decided to hold and move my risk level up to the dash line, if it start to fail RED/GREEN move. I'll short more to move my average up. My last short position is at $8.79 bring up my total average about $8.65ish. o
Now the plan is I want to cover at least 1/2 position size below $8. I did the quick fast drop to $8.45, I could have cover for some profit but I didn't cover anything at all and wait, wait, wait EOD cover $8.60 and $8.70 for small loss. The lesson that I learn today is I could have cover at $8.50 or $8.45 for profit, bad entry, scale up to loser..

Enjoy reading and hope you can provide any feedback so I can keep posting. Have a great weekend.