Poor trading today, nothing worked. I was up $300 in pre and should have called it quits then. That's something I'll try working on, I dont have to punch in/out, need to forget about that mentality. If I'm up an easy $300, especially on a Friday, I should take it and leave.
Additionally when I'm down on the day I tend to take bad r/r trades, and increase size to get me back into green which is a recipe for disaster.
Lessons:
- Be patient when it's the first spike/pop of the day, less so if it's a subsequent, and take quick profits outside the first and last hours of trading
- Stop out quicker! If a key area fails to hold (when you're long) once, then twice, need to quickly get out (RE $GEVO)
- Protect gains - if you're up a few hundreds in pre, either play safe, or take the rest of the day off
- Chasing for a breakout - ok on a gradual grind, but never ever chase after a big spike
- Trade each trade in isolation, separate from other trades (don't try to make back losses on previous trade etc)
Trades:
$GEVO bought some in pre after a big bid showed up low .40s; added to a winner when it broke .50 but it failed to hold, sold half at .45, then added when it perked and sold for a profit
$ICLD bought on news, paid too much though, didnt wait for a pull; added on a pull and sold on the pops for an ok trade; next time I should really wait for the pull after the initial spike; cut it for a loss
$MNGA a little in pre on news, sold for a small profit
$GEVO just as planned in watchlist, wanted to long a big pull out the gate
$ICLD was too greedy, didnt take the quick gains, and ended up taking a loss
$CERE sold half for a profit, half for a loss
$MNGA bought some here; r/r was good with 1 being risk. Sized it too big and stopped out for a loss (other than 500sh i sold into the pop)
$GEVO again on this setup; arghhhhhhhh, sized it nicely too, didnt stop out quick enough; once it couldnt hold 6.20 the second time I should have just bailed instead of holding and hoping
$ICLD again with .85 risk; nice trade, however i need to remember to save some to sell into BIG pops rather than slow grind, with entry as stop
$ICLD back in here
$ICLD should have waited for confirmation of break of this formation; glad i stuck to my stop
$ICLD trying again, could be a bit early for it to b/o though; just isnt my day, gave it too much time to work; gave back most of my early gains
$GEVO on last try; one final slap to finish a very poor day; traded big size too, to "make back losses"; facepalm
P&L:
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