$PLUG saved me from having an otherwise pretty crappy day - days like today are all about picking your trades and executing them perfectly, as there's little margin for error (even more so than usual).
I've again learned that I tend to do better after the first 30 minutes of trading, I really should try sitting on my hands tomorrow and test that theory, the #s sure support it- 4 out of the 5 trades i made in the first 30 minutes were losers.
+$1200 today
Swings: 1/1 +$1174
$PLUG May $7 puts +$1174 sold all but 10 contracts
Longs: 0/1 -$3
$MCIG -$3
Shorts: 6/16 +$61
$ISR said i would resist temptation - but the pattern seemed familiar so took a small position here
-$100 ... made news highs so i quickly cut it
$ISR again 3.40 risk +$205
$ISR -$50
$ISR -$30
good covers at least
$ISR reshorted here argh -$50
$YELP +$29
$RDNT on 3.50 o/u tight stop -$168
$MNKD -$53 was up, but wanted more story
$MNKD -$50
$MNKD -$50 - will leave it alone now
$PLUG 7.10 with 7.15 risk +$168
$WTER +$126
$NTE 6.90 risk -$26
$ZOOM +$164 helped knowing this stock - never holds onto its gains - last hour it dropped from my covers down to $4 ... my original covers were at 4 but it was holding on low vol so i covered 4.30s to be safe
$RDNT trying again here - 3.70 risk -$30
$SRPT 23.50 risk, g/r and fade target -$59
$AGIO will try to keep this one on a short stop, $44 u/o, SSR is on +$35
-$100 ... made news highs so i quickly cut it
$ISR again 3.40 risk +$205
$ISR -$50
$ISR -$30
good covers at least
$ISR reshorted here argh -$50
$YELP +$29
$RDNT on 3.50 o/u tight stop -$168
$MNKD -$50
$MNKD -$50 - will leave it alone now
$PLUG 7.10 with 7.15 risk +$168
$WTER +$126
$NTE 6.90 risk -$26
$ZOOM +$164 helped knowing this stock - never holds onto its gains - last hour it dropped from my covers down to $4 ... my original covers were at 4 but it was holding on low vol so i covered 4.30s to be safe
$RDNT trying again here - 3.70 risk -$30
$SRPT 23.50 risk, g/r and fade target -$59
$AGIO will try to keep this one on a short stop, $44 u/o, SSR is on +$35
Excuse you me.. where do you get your entry... at spikes.. right at the top or you manage to get in when it shapes ?
ReplyDeleteThe principle is to get in when you have a good set r/r - I rarely get in right at the top, I usually start too early. If it's the initial spike then I'd use a whole or half number as my stoploss. A better and less risky strategy would be to wait for the initial spike to pullback and wait for it to make a lower high and then short; of course then there's a risk that you'd missed a big downside however you have a better set r/r (the previous high)
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