Green day recap, but I can’t say that I’m overly happy about it. 2 out of my 3 trades were killer, but I had a mishap today (and unreal situation that I’ll talk about in a moment) that lead to me giving back about 85-90% of my day.
Lets start with the nice trades…lol
YVR
Probably one of my favorite setups. The infamous Perennial fader. Biggest complain here is that I didn’t stick with it a little bit longer to get the lost .70 covers that I was originally planning for. Another 30 minutes or so and It would’ve gotten there, but my mindset was…don’t give back what you got, so I locked it in, and usually when I lock stuff in it just cascades from there and it’s not long before i’m antsy and end up out. Overall nice win, but it could’ve been better
LLIT
I saw this one as it launced in the premarket, but I’ve been trying to be pretty chill on Monday mornings, so I let it do it’s thing (missed a whole $3pt move….sigh) while I did a little more digging on it. I liked what I saw and understood, so I went after it. Now messed up thing on this one is that I was actually trying to short the push back into 5.60, but had the wrong account selected in my L2 and missed that entry, so I went with the weakness and work it from there. Overall not exactly what I wanted, but I think I did ok given the situation and the tape that was present. This definitely isn’t the kind of chase entry that I typically would go for, but the tape had beat written all over it, so I worked my way in to a winner.
SCKT
Well…this is the trade where I gave a bunch of my day back. Let me start from the beginning, so I’m trading and everything is going fine. I was expecting a push to 2.47, so you can see that I was adding up around there slowly and ended up getting full size when all of a sudden my 3y/o is screaming from upstairs for me. I’m like what in the world is going on…ok this can wait, but he gets louder, so I run upstairs and this guy had a crazy case of the bubble guts. Now typically I would’ve gotten my wife to handle it, but she was already preoccupied with e-learning with my oldest son AND she was watching our 2 month old daughter, so it was on me. Now I’m caught in-between a rock and a hard place….I have this position on that doesn’t seem to be going right, but I have a kid covered in poo…….soooooo the kid ended up winning and I had to leave the desk to clean him up, toss him in the shower and get him changed.
So here comes the interesting part. I WANTED to be upset that my wife couldn’t come and do it and complain about how this caused me to not get out of the position to keep my day super solid, but when I finally sat down and thought about it I had all the opportunity in the world to get out of this thing for a .04-.05 cent hit instead of the .20. The reality is I was overly convicted on what I thought it was going to do instead of reading the pice action that was right in front of me, so whether the kid had the b/g’s or not didn’t matter. The real issue was me.
Now here’s another factor. I was getting ready to wrap up my day and I made the cardinal mistake of looking at my p/l before closing out the day and saw red on LLIT and say that my current position on SCKT would’ve put me red on the day (not by much, but I don’t like red), so that gave me more reason to try and force this trade to work. In reality what had happened was that I forgot I took a long trade on LLIT in the premarket with my demo account to test a theory out and that my account report was showing MIXED results between accounts….i was actually up a grip. Had I not looked at my p/l i would’ve taken that trade off without hesitation because the price action just wasn’t there, but I got blinded by the $$$ and well I ended the day with more than I started, but I donated to the stupid tax today for sure.
Well that’s my day. If you made it this far just remember if you kid catches the b/g’s during the middle of your trade and you don’t trade great….more than likely it’s not the poo’s fault.