Trades 28/05/15

Mixed trading today - a few great trades, a few bad ones, overall happy with end result, though again feels like I could have done more, especially by eliminating the less than perfect setups ($OCLR) and random chasing of news/Twitter ($ISR $CRIS)
$OHGI this time not complaining about not holding for homerun, move was insane, glad to have gotten a taste at least.

Off tomorrow so have a good weekend!

Trades: .

$OPXA sold o/n position at .57ish from .50. Then traded it long a few more times, ended up a monster mover, but other than o/n 5k size I never used more than 2500sh

$ISR $CRIS bought on news / twitter pump, pretty much top-ticked both and sold for -10c, need to be more cautious buying news during market hours, especially on one with recent news like ISR

$SPHS nicely done here, didnt panic when it went against me, had conviction the gap up was unsustainable. Covered most near lows, then reshorted some 

$OCLR shorted the red open, but didnt cut it quickly enough when it went r/g and even top ticked a buy (small) and sold it shortly thereafter

$BIOC quick scalp in the am for peanuts

$BIOC again in pre, will add at the open if it looks bullish. Good read on it, sold half before the open for a profit, rest for a loss, looked like no steam

$ATNM great trade - shorting on pops covering flushes; had some ok size, alas only 250 covered at 3.42 most much higher

$HQCL looked like it was flagging and going for nhod

$XOMA messed this one up - if you dont understand the news, dont trade it

$OHGI all trades were mere 250-500sh at a time

$CPAH popped on scanner

$SGNL popped on scanner, a bit of a chase, but this is a chasers market  

$AMRN tiny chase size as vol poured in

P&L:

Trades 27/05/15

Blarg - ended up trading a rather lot premarket even though I planned not to. Just seemed like there were so many opportunities and largely the trades were ok

Made some great calls out the gate, just a bit more patience with winners and it could have been one of my best days in a long time, great day nevertheless, at least trading-wise, recognising opportunities, less so on being patient with winners. I keep saying "one of these days" but I just cant seem to. Perhaps increasing size would be something I'd feel more comfortable with. In any case, only human to feel down knowing you could have done so much more, however in trading, I say screw it, try to learn from it and on to the next one.

It's about being patient with the FIRST move, scalping 2nd 3rd moves etc it's ok (and advisable) to be quick

--- update again like yesterday, didnt stop trading when i said I would, and ended up roughly the same as i was after one hour, only with much more aggravation (and experience I suppose).
I really need to stop doing that and quit when I say I would, just that it seems like so many opportunities out there now

Trades: 

$CBLI ended up taking 250sh at 3.40 o/n (after selling the 1k position I intended on taking o/n for less) and sold in pre for 3.90

$ONTY had some o/n sold for a loss in pre

$CBLI re-bought in pre, not a great avg, so sized down when i was roughly b/e, sold rest into pops; wish again i had more conviction there to hold full position and see the plan thru; then this big flush came, proving that had i been greedy and not sold any i'd be b/e instead of up...

$CBLI took some for the open - sold most for a profit, rest for a loss

$GBSN chased tiny pre with view to add at the open on followthru momentum

$SPHS started in pre, will add if $1 holds and has traction; had 3k and let them go waaaaaaaaay too soon as usual. facepalm.

$BSQR closed for a small loss, was going nowhere

$AVEO was too patient with covers, covered some on a flush, then some for b/e. Readded and covered lower, overall nice trade

$GBSN left a tonne, but this one is so sketchy i can never stay long 

$ATNM nice trade, didnt use size as it was a chase

$CERE took some jic, sheesh it can run 

$SPHS tiny short under vwap

$DCTH maybe catches some $SPHS momo - cut it when SPHS momo faded

$CERE quick flip small position

$SPHS shorted some here again

$OPXA figured some momo might flow into this one too; momo fizzled but i'm holding a small loser in case it gets an eod run. record volume and history of gapping after a big day, so as long as it holds above .48 i'll take it o/n; sold half at .53ish


$VBLT chased the r/g, sold half on that pop and rest just above b/e

$SPHS boredom long - setup wasnt good enough

$ONTY on r/g assuming plenty are short biased; trying to be patient with it, big vol on the b/o and less so on the retrace; argh, turned a winner into a loser. hate when that happens. once i'm up on a position should at least raise stop to b/e; ended selling for a 150 loss, and reversed position to short on g/r; made back most on the short, still a bad trade, completely messed it up

$CERE crazy moves, took a small position on perk over vwap

$CONN tiny position, should have left it alone, i shorted and covered for a loss few times (not on chart) until finally i had one good short that made up for other losses

$CERE liking the setup here again, tight stop. Nice top tick sells there

$DCTH nice vol came in, this time non-patience was my friend

P&L:

Trades 26/05/15

ARGH made this day so much tougher than it should have been. Two good plays out the gate that I minimised, otherwise could have called it a day. Otherwise, overstayed my welcome on some shorts and understayed on some of the longs ... really minimised what could have a been a nice 30 minutes day, instead had to grind and grind on less than perfect setups

Tomorrow I'll try to avoid premarket trading (before 9am) as it really hasnt been working for me past few weeks

--- Update - skip to the paragraph in bold if you've read this earlier this morning

Trades: 

$ISR one of those irrational chases, way above vwap, cut it for -15c

$CERU bought at the pre highs and lost 20c ... ouch

$PBMD great trade, wish i had more conviction (size)

$AVEO short, good covers and good re-short

$PBIB pretty illiquid 

$ONTY was long in pre, then shorted the morning weakness and covered into a big pop for a big loss


$ONTY re-longed on strength thinking it will run today, made back most of the losses from earlier

$RENN gave it enough time to work, and ended up covering even

$AVEO tried again with vwap risk; no go.

$RENN re-tried under vwap, bad entry, cut it above vwap

$AVEO with prior high risk - cut it for even, it was going nowhere

$ONTY tried some long and cut it for 2c, then short, small position, worked better

$ONTY again, was short biased until .30 gave in; very upset with myself on this trade, fell into this .30 stuffing like a newb; shoulda stayed short biased as i was initially; went from being even on it on the day to a loss again

$MDR small trade

$ANTM was too busy with another position so missed my cover, and went chase long to recover most of losses; ended with some more upward momentum but i was in the wrong mindset

$VBLT chase, but went with intuition that it was going higher;  hitting 7.50s now, so indeed it was heading higher ... facepalm

$AVEO

$ATNM what a complete and utter imbecile, I said I was done for the day. Done for the day should mean exactly that. Not "just one more trade for the road". 
So I longed $ATNM. And I was so over-confident that I started playing my guitar while occasionally monitoring the position, I was so sure it was going my way. Well, it didn't. In a big way. And I added. Until I was down $1k on the position, twice what I made today. 
I then did something that could have made it exponentially worse. Instead of closing my position, I revenge traded it short. And a big position too (5k). 
Really broke every rule in the book. The entry wasn't good, the position size was way too large. 
And perhaps luckily, perhaps unluckily, the trade eventually went my way and I made back my losses.
The trading gods were kind to me today. Revenge trades never work. Poor entry trades rarely work. Emotional trades rarely work. I'm posting this as I hope myself and others will never do this again. I was lucky this time. And this is the first and only time I got lucky. I do not want to be in this position again that (as an atheist) I have to pray for the position to go my way.
So I got rewarded for being stupid today. Feels good not to be down $1k on that position, but feels bad breaking most books in my rulebook. 

$VBLT gave back earlier gains by going larger size than i should have, to make up for $ATNM loss. I was up $300 on it at one point but that wasnt enough to make up for the $1k loss on $ATNM so I didnt take it, instead took a loss on it

$CBLI popped on scanner - took the quick gains there

P&L: