Just like yesterday, started the day with good trade on a momentum stock ($FNJN, yesterday was $BPTH) only to give it back with silly trades with bad entries; then made it back shorting the stock.
Will try avoiding the second (and subsequent) longs, instead leave it alone, or stalk the short
$GLUU was very disappointing out of the gate, I managed to escape a bigger loss by buying lower when it perked. It's time however to go back to NOT trading the first five minutes until things settle, as I dont seem to have a handle on it at this market
$LPTH was an appalling chase, then added more lower and ended up with much bigger size for an illiquid stock like that, another thing I need to tidy up for march
Lessons:
- Leave winners along, unless they pulled back a bunch. Entering a position when the chart is o/e isn't wise
- Don't trade the first 5-10 minutes, let things settle and present clear patterns
- Stick to liquid stocks
Trades:
$GLUU premarket
$GLUU again
$FNJN nice trade, looked like had the potential to run today. And it did.
$FNJN and i gave it all back ... this is a theme the past few session, adding a rule to NOT re-trade a winner, especially when the edge is gone
$FNJN shorted some here; made back the prior losses
$LPTH what an abomination of a trade; bad habit i picked up this week, not waiting for a dip to go long, what's worse, i added way too many, and sold right where I woulda shoulda bought; I shorted it later and made some back
$LEU shorted on $UEC weakness; in 5.30 out 5.10
$CVEO o/e daily, snug under vwap here; 4.45 risk, looking for 4-4.20; took off most on that nice flush
$CRMD shorted some .75, covered .61 and .55
$GLUU
$
P&L:
No comments:
Post a Comment