Any Scenarios or sample of big loss day?

I've never had a large intraday loss, but I've had bad losses by allowing day trades to become swing trades because I had no plan and wasn't willing to take the small loss.

AAPL on the daily chart was in the process of pulling back from an approximate double top after a huge run up. Pullbacks in a trend are healthy and swing traders look to buy them once support is established, but as a day trader you should trade with the micro trend. Friday's signals to buy AAPL would've been a break above 318.38 (Thursday's high), or a break of the opening range high (316.42). The break through 316.42 failed quickly which was an immediate stop-and-reverse signal in and of itself. A confirmed short entry was a break through Thursday's low (314.25).

There were absolutely no confirmed buy signals on AAPL until around 1:15pm ET when for the first time all day there was a breakout of a previous resistance level (307.24) off higher lows.

2000 shares is lot of AAPL to be day trading against the intraday trend without a plan or a hard stop (and good luck with a hard stop on 2K shares when a breakout occurs).

What was your signal to buy AAPL on Friday?
 
Quote from lescor:

A lot of trading cliches apply here:

- Hope is not a viable strategy
- The market doesn't care where you entered
- If your reason for entering the trade is no longer valid, exit
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OH, Wow, I violated this rule about getting out and I MADE MONEY ON IT. I am going to change that rule right now.

Wow, it worked yesterday, I don't understand. I will just buy lower and get in at better price, then it won't have to go as high for me to get out. I will just move the stop, naw, just cancel it.

Wow, I never expected it gap that much lower, even a better place to buy. I wonder what he meant by Limit down?

What is a margin call? What do you mean I can't get out?
I lost $105,000 in three days?
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I know the T-bonds will stop right here at all time contract highs.
Yes, I will wire the money in the morning, don't buy me out, it is coming, the Bonds are topping out I know. Please stop here, whew, they are coming down, something good on Friday afternoon. WTF!!! OK, I will wire more money, bonds and I have a special relationship. Four weeks later, whoa is me, I could have bought a flipping house for all the money I have wired the fricking broker and that ahole is so fricking happy when he hears my voice, how can he be so happy? OH please God, I will start going to church on time instead of half thru it, pllllease make it go down. What? I have been going to your bank for years and you won't give me another loan? Collateral? I am short Bonds, it is a sure thing!!! Man O Man, finally coming down, been short these things for seven months, look at this, I know I had more hair last year....OH NO, I will never violate my rules again, I should have gotten out with $300 loss per contract, instead of $12,000 per contract I had to live thru, WOW, I actually made $12,000 per when I got out, of course I now have little hair left, going on vacation to visit that broker.....
 
Quote from Ghost of Cutten:

Unless there are new reasons for staying in the position, that were not applicable when the entry was made.
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Reminds me of groucho marx.

I have principles, if you don't like them, well I have others.:D
 
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