Green day recap. October is proving to be a heck of a month for opportunities. Every since $SPI it feels like there’s at least 2-3 opportunities a day that you can pick from. It seems like every other day you see someone in the trading community absolutely killing it. For me this is a double edged sword. It’s absolutely amazing to see what COULD be if you put in the work, the screen time, and the long hours studying and understanding the different aspects to a particular niche. It also is a curse because you can find yourself wondering why you aren’t killing it like they are, but you know that you don’t have the same seat time nor the ability to put in a full day worth of trading despite the fact that you really are doing good.
I personally have to step back sometimes and just look around and realize that I’m doing just fine and that the only measuring stick that you can measure yourself against is you.
PLIN
Very very very sick name that I caught on my scan last night. I knew it was going to be a great opportunity, so the goal was patience in order to capitalize. You might note that I didn’t do anything around the $2 level and the reason is because I had went for a run this morning and by the time I came back I missed the shove into 2 for adds. I didn’t get sized fully , but I did get about 1/3 of the way there (given that the major move was in premarket. Had we got a pop back towards 1.45 off the open I would have loaded the boat. I’m good with that as I don’t want to be too aggressive in the premarket and get ran over. If the proper opportunity presents itself to size up then I will take it, but until then I think that for me I’m playing this best for my risk tolerance despite all the griping and moaning I do about not having full size.
TGC
I saw a newsletter in here doing all kinds of stuff with the name and honestly I just didn’t want the headache, so I waited for the backside and put on my position on the pop back towards the new resistance. This approach definitely had me miss out on about $1.50 of range, however this was SOOOO stress free. If you look at the EOD chart you’ll actually see that this thing tanked back into the low $1’s. Now here’s my frustration. I wanted to take that move, but because I’m not at the screens all day long due to my job there’s no way I could just leave it on. My reality is that I just have to work with the time that I’m granted in the market and maybe in 2-3 years I’ll be in a position to trade the entire day and capture even more of the move.