I highly recommend watching @Investorslive Textboook Trading to beginners and intermediates as well to educate yourself about momentum trading
And the obvious disclaimer - I am not a trading/investment adviser so please be smart and consult a certified financial adviser before making any investment decisions
Summary of Trading:
Annoyed with how undisciplined I was this morning, I literally had a stick note saying "do not trade $SGYP out the gate" and I did. Badly.
Taking rest of the day off, too annoyed, and don't want to make silly revenge trades.
My instincts are either poorer or I've just not adjusted to summer trading mode yet.
I will probably be taking it easy until September, ideally my plan was to increase position sizes on the better setups, but that I see now would have to wait until after summer.
-- update --
as I was writing this, had started into shorting $LTRE, my first entry was small and awful so I thought I'd cut it at $2, instead added nicely into pops and covered into flushes
P&L: $614
Trades:
$SGYP had some o/n and sold in pre
$SGYP bought on upgrade news, just quick scalps
$SGYP another tiny scalp
$SGYP I said to myself I'll leave it alone, too volatile, alas didn't listen, wasn't disciplined enough and gave back profits and then some, traded it awfully, buying tops selling bottoms; Went from up $300+ to down $150
P&L:
-- Update ---
$LTRE awful first entry, but then read it really well and shorted into pops with vwap as risk; used relatively large size too given the good r/r; First entry was with 500sh then added 1000 on the pops, covered 1/3 at 1.9 then most of the rest at 1.81 with just 500 at 1.75ish
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