* buys/covers are marked on the charts in blue, sells/shorts in red *
Did ok overall today, disappointed with my late day $CNAT tarde, Finished up $300ish
Trade Highlights:
$GPRO +$133 traded a few times long side
$FOLD -$24 - what a fool. Had good entries on the pull, didnt take $150, instead rode it down ... eventually got lucky with an upgrade PR out, took a small profit, unbelievably lucky. Instead of leaving it alone, I repeated the same mistake, at least this time cut my losses slightly quicker. It was such a fader, not worth a long; eod finally i did short the fade and made back some
$CNAT made a real nice trade for +$101 and then gave it back with a stupid rule-breaking tarde eod, shorted a fade, rationale was it would with spy, really a silly trade
$MNKD played $10 puts +$105
$MNKD +$15 several longs, most weren't successful
$GWPH +$38
$MM +$43
Mixed trading, overall disappointed I wasn't able to cut my losers more quickly or hang on to my winners for longer ... worked hard today, scalping away, finished up $750 mainly thanks to $MNKD puts that finally paid up
Lessons:
- Don't hold position o/n - meaning other than intended gappers, close all positions during the session and dont hold and hope they do better the next day
- Stop chasing! Wait for a pullback
- Stop gambling. No more buying IPOs at the open for no good reason, wait for a good setup
Trade Highlights:
$PLUG +$37 o/n position
$FB in the green while $TWTR/spy is down, tried a few in pre, anticipating a wash at the open +$11; then again on a curl with vol +$38
$STEM was short o/n - got out flat
$MEI had Jul $40 calls from yesterday +$112
$FCEL -$20 had some left over from yesterday
$AERO +$40
$IVDN -$55
$MTW bought on the pull and sold quickly, late in the afternoon bought the curl for eod run -$1
$GPRO +$241 played it a few times, everytime settled for pennies, missed the big moves ... traded it well in the am, gave some back in the pm
$AMED +$63, was hoping/expecting for exactly such spike after the flat line;
$CRDS on the flush -$27
just missed it ...
$GLUU chased the short - $23 then reveresed it -$40 worst trade of the day so far
$IRM tiny position so I was ok to chase +$19
$VAPE shorted the morning spike +$36 partial fill
$MOKO silly gamble, i assumed there will be a hype day after $GPRO ... I was wrong, added lower and sold on a spike +$30, stupid emotional trade
$MIK +$63 traded it twice
$OHRP looked like it was perking, alas it didnt, and just dumped on me, need to be more selective with my dip-buy longs today -$95
$LITB +$92 overall, initially same setup as $OHRP, losing trade; subsequently my cover order at 6.06 was executed as a short on the way up to nhods... i added higher and covered some 6.06, got too patient with the rest, didnt cover for b/e instead took another $150 loss. Then I longed it, nice pattern for long, made +$300 on it, pleased with how i read that eod run
$SODA at .50 risk .64, blah missed my stop, it came back, covered for -$7
$KNDI -$4 shorted some, later went long, trying to be patient with this curl - patience didnt work this time
$COOL stupid chase, sold half for profit, stuck with rest and didn't cut losses quickly. Instead waited for it to base, then added (40c lower than original entry) and waited for it to burst thru 2.50, it was setting up to do that all afternoon. Wasn't as patient with a winning position as i was with a losing one, sold in the 50s for +$60, unfortunately i added lower and sold that for -$60, missed most of the eod spike
$AWRE looking for a fade 6.60 risk +$10
$SCTY .75 risk - terrible, knew I was breaking one of my rules (shorting a flat line, 50/50 chance) and still made the trade, then didnt respect my stop. Harmless trade turns into a big unnecessary loss; covered half for a loss, and rest i got lucky on a huge spy pull, so damage was limited to -$35
$DRWI on lower high, 2 risk -$57 stopped out
$PRGS .90 risk target -$42 didnt respect stoploss
$CLUB .55 risk, huge morning run, looks to be basing here, with a bit of volume too -$40, down-trended further
$NEWL tiny -$23
$ONVO on a pull .55 risk +$28
$MNKD Jul $8.5 puts, thought they'd expire and I'll lose my investment ... had a .65 avg, then came the FDA decision today add some at .40 sold at .70 for +$475
Very patient this am session finding good setup, and with those I applied even more patience ...
Not really making fewer trades, instead trading less size and doing more scalping, until a REAL good opportunity comes along where I can risk more.
No lunch break today, just scavenged $20 plays here and there, work hard to end up $325
Only really poorly executed trades (emotional) were the $BLDP/$PLUG chases
Just fyi, to see entries and exits, look at the charts blue is a buy and red is a sell.
Lessons:
- DON'T CHASE, BUY ON DIPS!!! (RE $PLUG $BLDP)
Trade Highlights:
$POWR +$45 on o/n position
$GLUU two few trades long and short +$116
$OMER short r/g on market weakness +$54
$CSIQ +$58
$TWTR +$16
$IVDN on g/r, covered 1.3 lost my patience with it, low vol drop +$71
$TSL -$12
$HIMX -$15
$YOKU +$33 - made a few trades, first couple were good, rest i tried anticipating a curl up and they didnt work
$BLDP on $PLUG $4 risk -$79 traded it again on $PLUG momo +$40
$MEI long -$112 argh, didnt take profits when i had em, two trades -112 and +30
$IRM -$85 stupid trade, later on went short .62 looking for a nice fade; got it, covered in the 40s, 30s +50
$GPRO +$217 traded it a few times, small size; obv had i held my initial 200 at 29.50 i'd make that in one trade, instead I missed the big am move and had to work hard for it
$ROSG -$49
$QLTI -$24
$PLUG had chased it with size (doh), luckily didn't panic when it looked to g/r, added a few and sold for -$14
$FECL same story as $PLUG -$23
$ISR shorted on a big spike, it tends to fade off +$77
$JMEI on this curl +$29
$STEM short 2.04 with 2.10 risk 1.90 target, will take o/n
Great trading this morning - took small positions, picked my entries, and cut my losses quickly.
Traded 12 tickers which is more than I had intended, but only 3 losers totalling -$70 - I'll take that ratio any day;
Came back for the last two hours, and immediately made two stupid trades ($HIMX $POWR) just couldn't stay disciplined the whole session, very upset with myself. They ended up not costing me too much but I was hoping to have one session where i'm able to avoid emotional trades etc
Finished up $425
Trade Highlights:
$AERI +$123 traded it a few times today, both long and short; one of the shorts i got caught in a low vol squeeze, i held it, and covered lower; next time i'll try to short the pops rather than the fade, i should know better
$POWR +$70 chased the big move, figuring 9.50 magnet, sold 9.48
$HIMX +$8
$HBI +$83 didnt let my greed get the best of me, nice setup here
$CSIQ -$20 nicely cut losses quickly here
$AERO shorted r/g covered most 6.21, rest 6.29, will look to re-short tomorrow if it pops in the am +$50
$TRIP had 110 and 107 calls from yesterday +$72
$CREG -$20 tried 2.05 on the dip for a nhod run; cut it quickly
blah, there it is
$POWR +$20 quick scalp on 9.5 o/u
$SBGI +$20 tried a few times, 3rd time lucky
$NSPH 1.62 +$43 quick scalp
$POWR long again -$30 chase size, looked like it was going to nhods, when 9.50 wasnt protected much i bailed
$SLB tiny size 112.15 just practicing; covered 111.80 +$33
$NXST for the fade; argh was up $80 and only took a fraction, waited for a real fade, and it just bounced back taking away my gains in one big trade; decided to stay in it patiently; +$30
$POWR again at 9.65 chased, added lower, then the bottom fell off, real bad trade. Will let it play out. Sold some mid .50s for b/e, might hold rest o/n if it can hold 9.5; got a little spike eod to sell into; managed to breakeven on the trade, took 500 o/n
$HIMX same story as $POWR, poor entry unnecessary -$50
