Here we are with another green day recap. Everyday that you come to the market you are given a great opportunity, so I’m not going to be in the business of blaming or pointing fingers….nope..it’s all hard work, learning, and pushing myself to get just 1% better each day.
Today started out interesting because I had a hard time locating shares. I can’t say that I’ve ever had this much trouble trying to locate for the potential setups, but today was definitely a challenge. After a day like yesterday I don’t want to come in over-hyped and just guns blazing to blow up, so I’m actually grateful for the slower type day.
A few opportunities were ruled out because I couldn’t get the locates. One opporutnity I just flat out missed and I had locates…..oh wel…next. This doesn’t mean you just complain and pout…nope, you get up and you get in where you fit in #NoExcuses.
NIO
The ev sector was moving to what seemed to be a capitulation day off of the $XPEV news. I wanted to use that to my advantage and take a little $NIO along for the ride however the tape changed up on me and I cut my starter position for a .02 loss for a value meal loss. No biggie and in hindsight my understanding of what I was seeing in the tape was right. Things had shifted and the thing pushed up to near $50.
VXRT
Not to shabby here. I was really hoping that we pushed up to 5.70-6.15 off the open, but with all the other names moving it just wasn’t in the starts for this one. I think looking back at this that I should’ve put more size off the open into that 5.42 level to make sure that I had a good average and I could’ve capture a bit more on the overall move, but at the end of the day I’m happy with how i played this and how I noticed the shift in the tape and got out for a nice green trade. N I was looking for this thing to go back from where it came, but I’m not going to try and force something that’s just not there. When the 5 level became apparent that there was a buyer in the tape I decided to excuses myself.
Listening to the tape and being able to “zoom” out to see the big picture is definitely coming along and helping me stay out of the chop. Now I just need to make sure that I’m averaging in cautiously higher near my key levels to make the most of the move. Still room to improve, but I like where this feels like it’s headed.
What’s becoming clearer to me as these days go by is that when the move is ripe it will go, but when it’s not there’s no need to try and force it. In this case I didn’t capture a nice .50-1 move like I would’ve liked, but guess what….who cares. I got the meat of the move within my time frame that I had for trading and that’s all that matters. When a play is ready to give it up it will, and my job is just to be there present and ready to do what I need to do to capitalize on it.
I’m done with the idea that a trade needs to move X amount in order for it to be worth of me to take it off. I’m listening to the tape and locking in….if the move is really super heavy and ready to keep going you can add and catch the next leg.