02.24.20 Fairly Active Day

Today was wild. There was a new report last night on the Coronavirus and the entire market sold off deeper than it has in a long time; dollar-wise it might be the biggest selloff ever but I'm not sure if judging based on percentage. The selloff took my watchlist for the week and through it right out the window. I ended the day green but I'm not overly happy how I got there. My day could have been somewhat better had I traded the chart patterns and not my P&L.

I was pretty active and after my first trade, I fell into old habits quickly. I was stopped out getting long $GNPX from a really nice setup. It was setup in a bull flag and I felt like I had my stop set appropriately for the scenario. I debated putting it under the previous all-time high but that seemed like too much room and would have put too much risk into the trade vs. the potential I was anticipating. Anyhow, I stopped below the pendant break, the trade line, and VWAP and was pretty irritated, especially when it recovered and put in a new high on the day.

I then got short $ROKU in a tier one position (25% of my desired position), looking for it to return to the low of day while it was below VWAP and the trade line and while it was failing to put in new highs. I actually added to this position when it retested VWAP to the upside and failed so I stopped out full-sized. I wasn't entirely unhappy with this trade but I still felt uneasy and irritated. When I got stopped out I waited a few minutes to see if I could tell if I just got outplayed on this trade or if it was reversing and showing strength. I ended up getting long after it pushed through VWAP on increased volume then retested VWAP and held. I could have executed my take profits on this trade much better than I did and this is where I feel like I fell into my old habits of not trading the chart vs. my P&L. It wasn't horrible or as bad I have have been in the past but my mind was definitely too focused on my P&L during the trade.

While I was short $ROKU I saw a setup in $TVIX and got long. Simultaneously, I was letting my P&L effect both of these trades so again, I could have done better executing my take profits. I also goofed my entry and entered with fewer shares than I wanted, so while it looks like I added at random, I was actually just bringing my position whole. I ended up taking a scalp on $TVIX coming out of the lunch session too. I saw a nice pop in volume and price action so I grabbed a few shares for a small move to add to my day.

I don't know. I did okay today and have definitely done worse. My execution was off on my take profits though.