Just realizing that I didn’t do this on Friday, so better late than never. The goal was to end the month on a good note and I did just that. Which means that this is a green day retro. I think I’m starting to get the hang of this reset and refocus. It’s super easy to get caught up in your own head and end up doing stupid stuff, so I’m happy that after a wack day I’m able to reset and zone in. Things that were clear in Fridays session is that I still need to work on optimizing good plays. My $TWTR trade is a perfect example of this. I guess this i something that will improve with time, so I’m just happy that I’m now starting to understand what capitalizing on A+ setups is really starting to look like.
TWTR
My last retro I was speaking about how I had certain setups that I had not been paying attention to and guess what $TWTR was? Yep that setup that I wasn’t paying attention to. My mid-large cap gap down setup. Happy that I was able to say that I took advantage of this setup and boy did it payout!
An observation is that I did start in a little bit early on this (even though it was starter size). I have to remind myself that I have my levels for a reason and that To truly optimize the trade I need to wait for my levels to get touched. You can see that
I caught what I thought was a good move (and usually for me this would’ve been ), but looking back at the intra-day chart I left a lot of meat on the bone. This is the kind of setup that I was talking about earlier where for me it’s an A++ and I need to start maximizing my potential on them. I
NIO
this started out really nice and clean and then I got caught up in the chop shorting into weakness instead of getting in on a proper entry back into a level (see the 10:15 time frame to see what I mean). I also was up and let it get away from me around 12:00. Moral of the story….I need to focus on proper high r/r entries opposed to just wanting to get more out of a move just because. Sure I might be able to make some $$$ in those cases, but the stress itself just isn’t worth it. It’s better to get a good average and let a trade work for you vs being stressed out and watching every single tick.
BLRX
Man, I’m pretty happy with myself on this one (minus missing the full pt swing after that push back to 2.70…lol_). On the front side I was patient and told the room that I was looking for swipes to start to get involved….they came, I tried, it didn’t work, so I exited. I’m not sure why that approach has been hard in the past, but on this ticker I was in/out and that kept me in the game to capture the backside move.
Now in hindsight just like my $TWTR and $NIO entries above I should’ve probably waited for that 3 level to maximize this trade. This is still a work in progress, but I can feel the progress being made and it’s making me very hopeful that more continue improvement will come in the future.