Some sloppy, avoidable losses today on $BIOC and $CRMD ... usually happens after a good day like yesterday, but no excuse really;
Two big losses, luckily offset by two biggish wins, but not cutting losses quickly is something I'm yet unable to do properly;
Then overtraded $APRI without much edge (it worked eventually) and $CAPN ...
Lots of DUH moments today, much to improve tomorrow;
$MU really in the first few minutes of the day made the difference between a red or green day, glad it's the latter
Lessons:
- Never follow blindly into a trade, even if it's following @lx21 ... (RE $EYES) - while he might (and probably is) right long term, the intraday signals weren't favourable for a short
- Trade goes against you or not the way you planned - get out immediately (RE $CRMD)
- Don't short just because shares have become available (RE $CAPN)
Trades:
$CPAN long in pre fora quick dime, will re-visit later
$BIOC short in pre, 2.60 stop; plan was to hold for a fade, so didnt take off on higher low, added nearer 2.60, will stop out if it bases there at the open; all worked well except i forgot to stop out and got slapped silly; no borrows to add either; awful stuff
$CRIS entries premarket, nice covers then added on a pop; covered in the end as it seemed have been holding and had to focus on better opps like $CRMD
$BIOC -
$MU
$RIGL - nice entry and covers on 3/4, other 1/4 got a bit too patient with; entered again on a pop; didnt work, got out before that big other pop and fade; nice bottom covers though, happy with trade overall
$CRMD - awful entry, it came back and red on the day, started focusing on it and shoring pops; covered some at lower levels before a big pop; added back a few on that pop, hod is my risk now; it burst thru hods and buried me; had ample opportunities to get otu when it just grinded, but i wanted that big drop
$HMNY saw a low float mover, turns out it was a newsletter, quick flip worked well; got in and and out a few more times, small size due to ugly spread; should really have avoided after first trade
$EYES shorted some here as some negative sentiment came in, then reversed to a long when it looking perky; see comments above about following blindly; managed to b/e on the trade (chart just shows the buys, the s/s i executed via IB)
$GE bought some calls, but picked wrong week so with the cost of buying/selling trade was just about even (+$30)
$CIEN bought on increased call buys
$BIOC chased some as it looked like it wanted much higher
$APRI terrible chase entry, and then some nice adds; when will I learn to stop with the silly chases and be patient with the entries; awful trade that worked out ok for b/e
$BIOC small re-entry, maybe can be patient with 500sh and wait for parabolic to sell; sold instead when it failed to break 3.50, could always re-enter
$BIOC another quick flip
$BIOC two trades here, one when it looked like 3.30s were holding, got out as soon as they broke; second long again on a dip, "they" started their games again, saw huge offer that was my queue to get back in
$BIOC another attempt
$BIOC 7
$SLXP $160 calls - worked ok for some change
$BIOC 8
$APRI shorted this 2.50 o/u an overextended chart, couldnt quite hold onto gains, see how it reacts eod; meh, b/e a bit of a boredom trade
$P some $15 puts on this big move, didnt fill much and flipped them quickly for a small profit
$APRI after getting whipsawed all day finally managed a good trade on it; not great entry but used size and conviction
$CAPN had some o/n which sold for a profit, then short at 7 (just because IB had shares), got squeezed and didnt respect my stop (vwap), then went long and managed to b/e on the day on it; another foolish trade
$CRIS entries premarket, nice covers then added on a pop; covered in the end as it seemed have been holding and had to focus on better opps like $CRMD
$BIOC -
$MU
$RIGL - nice entry and covers on 3/4, other 1/4 got a bit too patient with; entered again on a pop; didnt work, got out before that big other pop and fade; nice bottom covers though, happy with trade overall
$CRMD - awful entry, it came back and red on the day, started focusing on it and shoring pops; covered some at lower levels before a big pop; added back a few on that pop, hod is my risk now; it burst thru hods and buried me; had ample opportunities to get otu when it just grinded, but i wanted that big drop
$HMNY saw a low float mover, turns out it was a newsletter, quick flip worked well; got in and and out a few more times, small size due to ugly spread; should really have avoided after first trade
$EYES shorted some here as some negative sentiment came in, then reversed to a long when it looking perky; see comments above about following blindly; managed to b/e on the trade (chart just shows the buys, the s/s i executed via IB)
$GE bought some calls, but picked wrong week so with the cost of buying/selling trade was just about even (+$30)
$CIEN bought on increased call buys
$BIOC chased some as it looked like it wanted much higher
$APRI terrible chase entry, and then some nice adds; when will I learn to stop with the silly chases and be patient with the entries; awful trade that worked out ok for b/e
$BIOC small re-entry, maybe can be patient with 500sh and wait for parabolic to sell; sold instead when it failed to break 3.50, could always re-enter
$BIOC another quick flip
$BIOC two trades here, one when it looked like 3.30s were holding, got out as soon as they broke; second long again on a dip, "they" started their games again, saw huge offer that was my queue to get back in
$BIOC another attempt
$BIOC 7
$SLXP $160 calls - worked ok for some change
$BIOC 8
$P some $15 puts on this big move, didnt fill much and flipped them quickly for a small profit
$APRI after getting whipsawed all day finally managed a good trade on it; not great entry but used size and conviction
$CAPN had some o/n which sold for a profit, then short at 7 (just because IB had shares), got squeezed and didnt respect my stop (vwap), then went long and managed to b/e on the day on it; another foolish trade
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