Here on the first trading day and starting out on the right with a green day. As usual on a Monday I’m doing all I can to not get bent early in the morning, but rather letting the setups come to me. I completely missed the $DBVT move and had a slew (at least to me..lol) located. Just something about that price action that didn’t jive well with me, so I’m still trying to understand if I was too conservative in my hands off approach to it, or if I was too tied to the idea of wanting to see it hi 3 before I got interested.
ANPC
I had a decent entry here, but should’ve sized in more towards that 4.11 level. As the sideways action around 3.89-3.93 just made me get out. If there’s one thing that I’ve learned from my past biggest losing trades trades is that when I get comfortable with side ways moves is when I get ran clean over, so when I saw the retest of 3.95 coming back up I just got out for some lunch money only to watch it fall another .30 after my exit…lol. You win some and you lose some. I would like to complain here, but realistically I think I made a step forward with this trade. Yes I could’ve locked in quite a bit more more profit if it went down (and it did), however knowing yourself is key and if this is the kind of price action that gets me all kinds of mashed up 9 times out of 10, then I’m happy with my decision.
Now if I had a stronger average I would’ve let that 3.90 level work a little more, so this is just more evidence that you entries will matter to you emotionally
NIO
Nice trade here, but I did a couple of things to minimize myself here that I can work on. First thing first lets give some shout outs to myself for staying along on the front side of the move. I was watching the overextended move seemingly want to die off, so I tried some, it came back, and then I covered relatively quickly. Now where I messed up on the front side is that I used a little bit more size that I should have, so even though I cut it quick it still lets some paper cuts, which didn’t debilitate me, however they definitely had me thinking “maybe I should hang it up today on this ticker”. Nonetheless I wasn’t out of the game because I cut so quickly and that allowed me to go into scalp mode off the open until it picked a direction. This definitely a name where having a big picture plan will save you a bunch of headache.
Once thing that I could’ve done better here was sizing up into that second leg of that fade from 34. and especially at the 33.60 break again. It feels like a non stop tug of war between being safe and letting things work out. I guess the battle and striving to get better has it pros and this is just something that I get to battle with on a constant basis.
I also could’ve worked on scaling into that backside move stronger. I was right there in front of a near 2pt move that could’ve been taken with size, but I didn’t optimize it. I’m getting to all of this still, but capturing the meat of the move needs to be on my agenda on all plays. Don’t get me wrong I’m happy to be green, but I want squeeze the most out of these situations that I can because who knows when the next opp could come along.
Moral of the story. Don’t used too much side front side and when the odds are in your favor size in.