This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I had entered a trade yesterday in Apple Inc. (NASDAQ: AAPL) before I wrote my post about GOOG and my thoughts on setup selection. I traded because I wanted to trade, which is a bad idea.

Anyway, here it is:

What can I say. Poor setup, poor stop, target was $120, which doesn’t really jive with the timeframe, just dumb. At least my 1R-based position size was in line with my equity risk tolerance. I guess I proved I can take a bunch of risk and get stopped out at breakeven. I see this as a revenge trade for GOOG yesterday. I did differently today what I should have done to avoid a loss yesterday. Since that’s really what I wanted to do in my heart-of-hearts, I guess this trade is a success in that regard.

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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com