parabol128 Trades: Trades Recap 22/05/14

Really cant emphasise enough how having a plan and sticking to it makes such a huge difference.
Weeds out the less than perfect setups, and leaves you prepared exactly how to react when the stock moves to or against you.
Emotional trades tend to not have a good plan or no plan at all associated with them ... ideally should get to a point where I simply dont enter the trade unless I have a plan and the r/r is at least 1-2 (return is double the risk).

Traded ok today most part, except for $PVCT which is on my ban list yet I traded it. You'd think moving from OTC to AMEX would change the way it trades, but no, still a turd.

Did ok again with my options trading which helped me finished up $800

Trade Highlights:

$IDEA +$260 - gapped a few at 20 and sold at 24;
$IGC +$150 - gapped a few at 2 and sold premarket 2.15
$CREE +$300 - $48 and $50 June Calls
$ROYL - working on my longing skills, bought some 3.86 and added again same price when it dipped there after making a new hod; idea is $4 magnet, sell most if/when break 4, otherwise risk is 4.8

worked like a charm +$115 sold rest 4.09

$PVCT -$322 - just messed it up badly, nothing about this setup indicated it's a short, i wanted in just because it's such a crappy company etc, but that shouldn't be the entry criteria for an intraday trade ...

I then flipped my shorts to a long (rarely a good idea) and lost again

$SALE +$250 - $25 Jun calls, picked them up near the bottom and sold on the way up, and rest when it couldn't hold $26

$ATOS -$130 - two bad trades on it, one short one long
This is the long one, though it was consolidating before a move up and cut loss quickly

good covers, bad trade as it was 50/50 on this consolidation could have gone either way

$ATOS again, this time better r/r and not a 50/50 trade; shorted 2.07 with 2.10 risk and 1.90 target; took the quick profit at 1.96 +$60; missed out on a few pennies, it bounces back over 2 and then came back down to my target