parabol128 Trades: Trades 10/01/14

Lessons:

RESPECT THE LESSONS DAMN IT
SHORT PARABOLIC AT THE OPEN ONLY ON SECOND TOP WHEN YOU HAVE GOOD R/R - NOT READY FOR A "BLIND SHORT" (RE $ICPT)
$ATHX I WAS UP $250 AND DIDNT TAKE IT AGAINST MY BETTER JUDGEMENT; WHEN I MAKE $250 IN ONE MINUTE I SHOULD ALWAYS TAKE THE MONEY AND RUN
ON RUMOURS AND NEWS - SELL INTO THE FIRST POP!
RISK MORE ON THE GOOD SETUPS ($CYTR R/R WAS GREAT)
GETTING OUT YOUR SHORT POSITION WHEN IT'S GRINDING AGAINST Y IS A GOOD IDEA ... (RE $PLUG)

Traumatic start for the day -$820 after 2 minutes... didnt take a break today trying to make it back while being aware not to make silly mistakes on the way.
Had I had more patience on my $ICPT longs I'd broken even on that awful short ...
Not doing very well on faders lately - need to look back read previous logs and figure out what I'm doing wrong.
Closed the day $450 after comms, a $1200+ swing ... took no breaks - do it all again Monday!
Account balance now is exactly $40k;

Gappers: 1/2 +$80

$MCIG +120 could have been double but was patient with it ... guess always need to sell gapeprs at the open...
$AERO -$38

Longs: 7/9 $232

$BTU on rumours, didnt take $80 when i had it, instead too -$100
$GALT changed bias quickly from being short and long 100 no the 16.50 break with 17 target; that was too impulsive -$50
$CJJD former runner alert on IL chat took 1.51 with 1.50 risk sold half 1.64 rest 1.74 for $155
$MCDO news alert on chat +$15
$CLVS IL chat news alert +$65
$OXBT +$10
$BITC +$40 just on 5k shares
$XXII partial fill +$40
$RTRX not the best entry and it has put a wall at 11.25 but every time it broke through it jumped 20c; looking for same jump; got in a bit too heavy and risk is 11; yeek was down $200+ at one point, but waited for a bounce to exit; out of half for -$30 at almost breakeven, but then it perked again so saved rest and it finally popped finished up +$57

Faders: 0/4 -$102

$ZLC wish i'd found it earlier; hit $17 as it has multiple times in the past on the daily and pulled back; risk is 5c and looking a gradual drop to $16

kind of started to go against me...

And some more... luckly had covers at 4.25 - 4.27 and it dropped back only lost -$11

$RTRX only 100 tight stop as it's not the best entry

this is exactly the BS i was worried about; got out -$36 on the next dip

$CYTK 9.10 risk flush under 9 target; up from 6.50 past few days should see a small panic if $9 base breaks; stopped out for -$55

$PLUG looking for a 3.50 flush in 3.55; -$39 went against me; nice save, it bounced hard

Grinders: 5/5 +$274

$ICPT looked like it was gearing, looking for a move to 438; risk break of trend; took +$30 to concentrate on $GALT tank; shame, it would have worked ...

$ICPT again - this time as it broke the previous high... use that as risk, nhods target; sold half at 448 for another +$60;

$ICPT again anticipating 450 break; in 449 out 460 for +$90 just not feeling comfortable holding it after this spike

$CYTR 7.50 could set it off to nhod; will try to be patient; 7.40 risk;

Sold some 7.64 for +$44, then it dropped back to 7.50 decided to stay in if it holds; again show how difficult it is to assess whether to take all off or be patient and risk losing half; b/e on other half

$ICPT again for +$50

Washouts: 1/1 $5

$MNKD curled up and SSR in 6.17 looking for 6.50; had to focus on ICPT sold for +$5... it hit 6.50 shortly thereafter

Shorts: 10/14 +$50

$ICPT - wow what an idiot - just followed nate (investorslive) blindly and shorted some under 400 add 400 and covered on the first dip to 425 -$820; what an awful day to start the day; i only traded 20 shares but it moved 30%+ against me. Now need to fight rest of day to make it back...
$ATHX alert on offering in chat, in from 3.95, covered some 3.70s added on bounce to 3.87; it then moved against me and i kept adding ... risky but 4 seemed resistance, break of 4 and i'm out, looking for a flush down to 3.80-3.90; -$84 feared a 4 break and g/r move ... up $250 to being down -$84. Will try not to make that mistake again.

$ICPT tried gain when it settled down and looked like it was going to drop; so volatile; made back +$200; great trade

$GALT looked to me like it was going lower; making lower highs in 16.3 target 16 flush risk 16.50; -$25; tried again later 16.30 avg, added on pops, was down $150 unrealised but held as was making lower highs - covered at 16 and 15.50 for +$275

$ICPT again only 5 shares ... in 435, 450 risk 400 target; better r/r and set risk here; covered for +$80 at 425, 415

$CNYD up 100% didnt realise it was so spready saw chart and took 100sh short at 7; had to be patient and survive bounces to 7.40- covered 6.56 for +$140; sheesh it bounced off 6.50 back to $8.50 ... dodged a bullet there

$CJJD tiny short 500 shares 1.57 looking for 10c; covered 1.46 for +$50

$CCIH shorted tiny 14.9 with 15 risk 14.75 target, only 100 shares; meh worked well +$8

$IMMU not crazy about r/r here unless it can take out that 5.77 dip; but it is fading nicely; 6 risk; -$24 it was holding support

$GALT missed that bounce to 16.50 but looked weak on 16 break, took small position 16 with 15 target; was dead wrong, it bounced to 16.50 and i added, covered half at 16.30s for a loss to protect myself and rest at 16 when it crashed together with $ICPT was up overall today $GLAT +$365