Five Reasons why I got big losses on my trades

I reviewed all of my losing trades. I focus on my biggest loser each month from April to September 2019. The following are the reasons why:

1. No specific trading system

This is the main reason for the month of April and May for my big losing trade. These were the months where I'm still testing almost all indicators that I know from the books I read. I still have no concrete trading system. I just simply put a cut loss point and bought small positions. Naturally, my entries were wrong leading to cut losses as my cut point was hit. The moment I vacillate (in cutting losses) this leads to bigger losses. 

2. Not respecting cut loss point

Obviously, the moment I disrespected my cut loss point -- the bigger the losses. Most of the time, the price of my stocks did not go back up. The worse thing is that if it goes back up, it somehow justifies why I disrespect my cut point. The next time I disrespected my cut loss point -- and the price did not go back up -- sigurado na mapapacut ako sa mas malaking lugi na. 

3. Impulsive buying 

This happens when I keep on watching those stocks that move higher during the trading hours. The tendency is I bought it at a higher price mostly in the morning. Then the price moved to the opposite direction or just a simple pullback which is supposed to be the ideal buy point -- it is when I cut -- only to see it moved back up. Aray ko po! 

4. Ignoring the allowed position sizing against portfolio size (poor risk management)

Whe I impulsively buy stocks, the position allocation also is neglected. This is the worse thing I did to my account. This is fatal especially if combined with ignoring cut loss points. 

 5. Lack of focus during the trading day

I'm a person that can not focus on one single thing. I have the habit of doing certain things while doing another thing in the middle of it. It is a habit I somehow adapted from my work -- multi-tasking. I think I need to focus and do nothing during trading hours -- which is next to impossible because I have a day job. Maybe a system that lets me buy EOD and sell positions before I go to work?

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