Green day checking in. Man…another great day with a bunch of opportunities left and right. I mean you start off thinking that the day is going to be slow and then you realize that there are like 6 things setting up.
I definitely feel like writing out all of these stuff in these retro’s makes me more aware of the things that I need to be doing better and I’m able to better act upon them. One big thing that I called out yesterday was the whole shorting weakness and while I can’t say that I completely avoided it it was definitely in the forefront of my mind and in the cases where I did touch into weakness I was very mindful to keep my position sizing very small and that kept me out of trouble. I will say that even with the smaller size I can tell that my brain is still going into reverse thinking (wanting to cover at the top of the channel instead of possible look for a real size entry. I’m sure this will clear up over time, but for now the small size and the “voice” in the back of my head did a great job of keeping me out of the funk.
I was also able to be a bit more mindful of risk (because who can’t benefit from tighter risk management) and having that being my #1 focus once I’m in the trade. Keeping the risk exposure down and looking to add into the winners I believe will create a snowball effect that will translate across my trading.
Tomorrow I want to continue to focus on not shorting strength and keeping risk exposure very small. Great setups and great entries to maximize my potential.
Lately I’ve been trading a ton of names (for me at least) and I’d like to bring that back in to 2-3 max. I believe that I am better suited to really focus in on 2-3 names max on the day. This will help my execution as well.
BNGO
Overall decent trade here, but I really wish that I covered a bit more into that wash into the 4’s before the open. I sat on a bunch and sized out then missed the big opp off the open and then covered like a chump on the adds…..definitely cut the potential here down more than half. I need to remember this chart, the setup, and the possibilities and take it into the next one.
The daily was primed, the pre market action was primed, I was actually in there nice and good, but I didn’t execute the best where it mattered. I did come back on the backside to take some of that which made the trade ok, but overall i could’ve done better.
BTBT
I was definitely late to the party here. I completely forgot to set price alerts and when it came on radar I was a couple of seconds (literally) late to get the 26.80 short, so I waited for it to setup and then I missed the vwap test again…took some chase size and then added to the winner for a nice 1pt move.
The read was right, but I was a little too slow.
NIO
Chop city here. Heres the evidence of me shorting into weakness. ON the plus side I kept my size EXTREMELY small as I knew this was going to be some uncharted territory and while I didn’t get the profits like I would have liked I managed it “ok” enough for it to not be a headache. Again…I need to not short weakness.
PLUG
Like NIO this one was also chop city for me. I tried a few times, but it just wasn’t in t he books for me. Kept size pretty small and overall I’m happy that I didn’t let it get away from me.
OCGN
Nice setup here. Again i wish I covered some more into that 2.71 zone so I could be fully ready to attack the open. I was thinking it would go to 2.20-2.45 and it did just that….without me…lol. I think the big thing to take note of is that if you cover into key zones you are able to participate in more of the move (in this market).