Back to doing daily trades reviews - not as thorough as before;
I'll go over the bulk of the trades I make during the session with charts where appropriate;
Made about $450 today
Getting better at cutting losers short, still making some boredom trades however which constituted to most of my losing trades today
$AREO +$450 - been swinging this position for a few days now. Originally had 1500 at 6.30 however I kept taking profits along the way, and re-shorting eod. I had 1100 shares today, covered most at 5.60 and 5.30. $AERO was one of the few weed stocks yet to have had a serious correction
$MDCN +$165 - same reason as $AERO. I was down unrealised $200 yesterday, so when I saw it crack 2.5 I sat at the best bid 2.42 and was delighted to have filled, less so when it hit 2.11 ...
$MEDL +$109 - pure speculation, in .21 out .23ish, big newletter purchase moments later propelled it to .28
$ISR +$115 - traded it several times long and short, usually it gets the better of me, happy to come out with something. I played with no more than 1k position long or short; My good trades were 2.50 o/u shorts
$ITCC -$274 - today's dumb, avoidable trade; I recall stockmister uncompensated tend to do better than you'd normally expect so tried some on this breakout; I should never ever buy anything up 600%; broke my rules and paid the price
Lessons:
- AVOID WIDE SPREAD MOMO PLAYS ($SRPT $GWPH) OR PLAY REALLY SMALL
- AND IF I AM PLAYING THEM (SMALL SIZE) NEED TO BE NIMBLE AND COVER ON FLUSHES RATHER THAN HOLD FOR A FADE THAT MAY NEVER COME
Good to have the old strong market back - brings with it ample opportunities.
Traded better today, still kicking myself for not adhering the rules here and there, will work on it again tomorrow until I get it right.
Sure, emotional trades happen, but with me they still happen too often. (Whether trading on news, not following trade plan etc)
+$800 today;
Going to take a break from doing this daily recap - for starters it does impact my trading in times where speed is of the essence, also while I certainly have looaaaaads to learn, I have captured quite a lot of material to reference.
I shall still verify trades on profit.ly etc.
Gappers: 2/3 +$138
$YOSN +$200
$PLPL +$90
$XTRM -$152
Swings: 2/2 +$459
$CBDS had some 6s from ages ago, added 3s yesterday and sold on pop today +$392 just got lucky there
$PLUG had a few May $7 puts left, glad to be in the money again, sold all now +$67
Longs: 3/5 +$297
$MZEI .27 small on n52s -$4 didn't trust it
$GWPH long into this momentum +$224
$TSL 12.50 on $CSIQ $SUNE +$77
$CSIQ +$10
$CSIQ .50 risk, long for eod run -$10
$ELTP .38 for gapper , nice daily
Shorts: 5/7 -$68
$AXAS +$11 partial fill on chase
$ONCS .77 g/r +$70 didnt quite break down fast enough
$PLPL .84 +$30 could only fill 2k shares
$GWPH
ouch -$300 turns out was featured on CNBC at that moment ...
$SRPT hod risk -$36 hit hod
$HIL chase so used small size +$34
$UNIS +$80 on news, but at least here r/r was good, it was only down a penny
$LRN -$34 looks like i will never LRN not to buy/short on news (especially chasing it down .50c)
$SRPT +$30
$SRPT +$32
$CONN +$23 bounced off .47 and i was out
$MXWL 16.10 risk -$23 broke my "dont short a bottom" rule, but at least i kept a real tight stop
$CONN again for eod fade +$15
half off, rest when it bounced off 37 yet again
Lessons:
- TRADE LIGHT OUTSIDE THE FIRST AND LAST HOUR OF TRADING!
- HAVE MORE PATIENCE WITH THE LONG POSITIONS OR DONT BOTHER
A very frustrating day again - not being able to stick to my rules (shouldn't have traded premarket, took few too many boredom trades in the lull hours, and traded too big in the lull hours)
Trading is easy if you follow your rules ... following your rules is SO HARD
$SRPT occupied most of my day - had i avoided the premarket and lull hours I would have done fine ... instead I fought with it long and short, eventually managed to come back from -$500 to +$150 on $SRPT, overall up just about +$150 today
Will try harder to stick to my rules tomorrow ...
Longs: 1/6 -$425
$SRPT bought the $40 break in pre and it quickly went against me -$100
$PLUG +$44
$BIOF -$50
$AXAS 5.40 risk looking for eod run -$69 too early and should have waited for a dip
this really sAXAS
$SRPT bought $36 when the chart looked bullish fuelled by the new price target
didnt take $200 when i had it and it the dumped .50c again, reminding me i shouldnt have played big size; stop is 35.75
stopped out for a -$200 loss
$FCEL long here -$50, sold as $PLUG was fading but surprisingly $FCEL actually held
$YOSN .97 for possible $1 cross tomorrow (closed 1.05 so scrap that)
$XTRM gapper
$PLPL gapper
Shorts: 8/16 +$598
$SRPT +$236 (two bad trades in pre, 3 good trades in the early am 2 bad boredom ones later)
$FXEN +$21
$ASTM -$119 - was concentrating on other plays that missed it breaking out
$FCEL +$124
$BLDP +$245
$BIOF +$45
$NTRI -$116 boredom trade
$FXEN -$13
$SRPT -$325 was short when pt of $63 was released, at first it looked like 80k shares were dumped but it quickly started to climb indicating a trend change so i got out and eventually bought the $36 o/u
$SRPT reshorted after my failed long as it seemed to have exhausted the move up even with favourable news, avg 35.6 +$500
