Trades 27/06/14

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