Crazy day with so much opportunity out there. Overall it is a green day for me, but I definitely minimized what could have been a record day for me. I looked down and realized I had trade a TON of names. Far more than my usual. I mad a mess of a couple of trades, but overall had the right read on everything. I’m very disappointed in the way that I handled WKHS. I’ll talk about it below, but that should’ve been a non factor, but ended up being by biggest red trade on the day.
Patience is the name of the game. I’m finding more and more through experience that it really just pays to wait for a setup with a good edge. I took note today that trading a name just because you have a thesis on the name doesn’t mean crap if you’re trading in the “chop”. I definitely let my bias show too much on EYES and WKHS and both of those ended up being names that I could’ve been decently green on that were both red.
Today on WKHS and EYES I definitely dropped the ball on risk management and need to reign it back in.
I tried to long this first before taking the short after the 5.80’s fails. I was green a couple of times on the longs, but overall just wasn’t in with a good risk and took some small chop there until things settled down. My original plan was to watch for 6.70 pops to short, but I got caught up in the whole long thesis and missed that opportunity, which in hindsight would have been absolutely KILLER. Not much to say beyond late entries lead to early exits before my big targets and well I need to do better here. Leave other peoples notes at the door and stick to my own trading plan.
Not much to mention here. Saw some travel sector weakness and jumped on it. I was hoping we would get more fail after the g/r move, but she felt different in the tape, so I got out and moved on.
This one was a bit wild and while I didn’t get torn a new one I took some unnecessary shop in the premarket, where I should have been waiting for 9:40+ given the volume it was trading and the trend. I was thinking that this would grind up before open, but it moved quick and I took some chop. I definitely had changes to minimize the chop, but I had too much bias and went to take the trash out while in my starter position, which was then met with a swipe…….terrible on my part. Too much ego and too much cockiness lead to me taking a ride a little bit. I then tried a few times and got a decent short after the big fail from 11. My main cover target was 8.89, but given the way it had been trading and the fact that the tape still felt a little bi-polar I decided to just size out and not deal with the headache. Not to much later it swiped a and was definitely someone elses headach.
Sector play with RIOT and NIO. I tried to get a decent starter, but filled all of 5 shares, so I just covered it and moved on. Right read, but SSR made it ought to get filled where I wanted.
Sector move with CCL. Overall was looking for more failed follow through in the cruisers, but it just changed in the tape, so I got out of the way.
Best trade of the day for me by far. I was in tune with the tape and the action and things were just working. That patience and waiting for edge were really speaking to me on this one. I wasn’t looking to hit weakness unless I was adding to a position to cover down into a key level. I missed a bunch of continuation from 37 around 1:30pm, but such is life. I got a good chunk of this one and was happy with my read.
The tape was getting heavy and I was watching pops vs 3.40 , which was failing. I played my stops a bit too tight and again forgot my exit criteria when setting them. Had i followed it I would’ve been in for a bunch more, so I need to make sure that I checking my criteria when exiting these amazing gifts.
More sector play with NIO and FCEL. I had the right read, but just never really got in there to take advantage. I think the issue was that I was just trading so many names that it fell off radar as that 41 test would’ve been an amazing add opportunity for over a point move.
Worst trade of the day by far. I got in too early (with SSR on nonetheless…..smh) and then instead of cutting when i was a stones throw from my entry I held it hoping the trade would go green. Newsflash to myself….when you are upside and you have an opportunity to size down your entry you need to take it without a doubt and you can add back on if things go back in your direction. This one trade ate into a TON of my profits. I’m glad to be green, but my overall bias on this one just stunk up the room. One more thing to get rid of.