What an interesting day. It was ONLY foiled because of a little mishap (hey stuff happens) on ISIG in regards to my stop. Outside of that there were a bunch of solid trading opps around today, I just decided to pick the harder of the bunch to trade today.
Lesson of today is that deviating from the plan is going to give you some headache at some point, so don’t deviate. Stick to what you know and things will shake out, but once you go experimenting like you’re professor clump or something, you get Buddy Love .
Trades
$ISIG
I saw my setup and took it, but someone decided that they wanted to swipe about 35 seconds after I entered and my stop was only for 50% of my position. Stop was set at 11.03 and caught some slippage and was ok with that, but when i saw half was still on that just threw me off.
The problem was that I didn’t use my normal auto stop script here and well this is what happened….lol.
Lesson of the day is that edge is AFTER the volume happens on these. My read was on and the levels were right and my STOPS were right, but the shares on my stops were off…..sigh. Oh well, it was nothing major, but just more frustrating than anything because I had the RIGHT read on it and it did as I theorized.
On the plus side in the past this swipe would’ve probably destroyed my month (and possibly the one before it), but that isn’t the case anymore (knock on wood).
I’m taking everything in stride and just adding it to the playbook for future trades.
$TESS
I had a feeling that this one was going to be interesting, so I had my goals and put them in place while risking only 1/2R. The last trade I actually moved my stop down a little bit after the ISIG debacle. I just wasn’t interested in taking another demeaning hit. IN hindsight I should’ve my stop where it was and let the trade workout, because it would’ve been a good solid trade, but alas the “emotions” for ISIG came into play and I just said not today Satan….lol
Missed Trades
$JZXN
I really like the look of this one at premarket, but it needed a little blue pill, because it didn’t stay up at all…lol. The goal was the 2.08-2.13 area, and off open it ever gotr there, but there was a GIFT near the close where looked like some late day covers came in and triggered a bunch of stop, which pushed it right back up there. Unfortunately I didn’t take it because I was just done after the ISIG ordeal. Great setup nonetheless.