06.30.20 $ATHE, $BLNK, $BYFC, $POLA
Frustrating morning but brought it home in the afternoon session to get green on the day. I'm pretty frustrated though I let someone else's trade effect my own. My mentor sold out of his $POLA position around $3.60 so I blindly closed mine in that area even though my final target was $4.00. I haven't executed a trade just because he has, ever I think, but for some reason I spooked. I should have stayed in that position and traded my plan. I have no idea what his plan even was. My trade in $BYCF was a dumb trade as well; I got long inside VWAP when the move was clearly short from that position. I played into a made hand. My other trades were failed setups for the most part. I still feel like I'm over-trading. I need to shake that piece from my program real quick.
06.25.20 $NNVC & $TBIO
One fat failed trade and one really nice short! First, I got long $NNVC but it crapped out on me a while into the trade. I was looking for VWAP to hold support and the tradeline to push it up and through the high of day. No go on that one. $TBIO gave me a really nice opening for a short play though. I was looking for it to go to and through $23.05 down to around the $19.00 area. After I took my first take profit in front of the low of day I read the action as a failed breakdown and exited the position. We never made it to my $23.05 target during the trading session and I would have more than likely exited this position when it broke VWAP at the end of the day. I know I would have exited before the bell; where exactly I'm not sure. I sometimes question bailing on trades early but here is an example of it working in my favor. I'm not sure if this is right, wrong, or indifferent.
06.24.20 $INO, $TVIX, $VMW, $WKHS
Two failed setups, a chopped up $TVIX trade I shouldn't have been in at all, and a really nice trade on $WKHS. Nothing I could do with the failed setups but manage my risk and I did that well. Like I said with $TVIX, there was no point in me involving myself in that chop. I feel myself over-trading lately and that trade was part of getting into action I shouldn't have been in. $WKHS was a thing of beauty, although I misjudged it's strength. Still a really nice trade though and executed nicely.
06.23.20 $BRN, $FB, $FFHL, $INO, $SPY, $XRF
Over-traded today like a maniac. I couldn't seem to find my way into a trade and feel comfortable once I got in. Even on my $SPY trade I knee-jerked out of the trade when there was no real reason to pull out. It broke the trade line but the move I was looking for was still in play. I need to settle down and execute.
06.22.20 $NVTA
First day back from essentially being off from trading for a week and I came back in with a nice base hit. It really felt nice to take a nice and calm, winning trade to kick off the week and my return to my desk. I was a bit late to the trade though. By the time I caught it on my scanner and had it sized up I got an entry about $0.20 high than I would have liked but none the less, it was still a solid setup from entry.
06.15.20 - 06.19.20 $SPY (options trades)
I was traveling and unable to manage my positions this week but had a game plan to snag some put options on the $SPY if it opened below $300 Monday morning. We opened below $300 so I grabbed them up, looking for a push lower throughout the week, and I went about my week. My plan was to check them when time allowed and either take a full loss or profit when I was up in the trade. Minimal risk was key to this trade. Little did I know, the Federal Reserve would buy up junk bonds and rally the market all day Monday, then cause a gap up on Tuesday. Tuesday afternoon I hedged the trade and bought $SPY calls, looking for a break even trade by the end of the week. We did the one thing that would crush my positions - traded sideways...
06.11.20 $FB, $TVIX, & $WAFU
Nice little add to the P&L today but I'm not a fan of how I'm trading. At times I should be taking profit I keep making the same error where I accidentally add to my position and I've done this probably five times this week. Today, when I did it two times in a row I flattened my position and shut it down for the day. I'm not being deliberate with my orders and I'm not paying close enough attention. It really sucked to do that today because my Facebook short worked beautifully, but because I got flat and shut down, I didn't get to see it through. Shutting down was the right move though and I stand by that decision.
$TVIX
My first trade on the day was in $TVIX and the trade idea was based on the performance of the $SPY. Typically, when the $SPY is falling the $TVIX will put in a monster move. For whatever reason the $TVIX stayed pretty calm until my trade idea was executed in full. I was expecting a much bigger payout than the trade provided but I executed this one exactly as planned, so I'm happy with that.
$WAFU
Small caps are dead lately after the initial move. If you don't catch the initial move lately, you're out of luck it seems. Wah Fu Education Group was testing the previous high of day and flagging. I was looking for a push up to the $20 area. I was able to get my first piece off at $14.99, in front of the new high of day, but it rolled over and I stopped out on the majority of my position for a small loss. This trade I feel like I executed well, the momentum just wasn't there.
$FB
This is the trade I fat fingered today and why I shut it down for the day.I got short under the low of day, looking for a move down to $224.78, which was a previous level of support/resistance. My first entry I had my stop too tight and had to adjust and re-enter after I stopped out. When the trade started working in my favor I went to take my first take profit and accidentally shorted more. I went to correct that mistake and shorted even more into this move. When I realized what I'd done I said screw it, I'm making too many stupid mistake, got flat, and shut it down. Really disappointing to see it hit my target but I couldn't execute properly. I've made this same mistake multiple times this week and at some point I had to draw the line. I need to focus more on what I'm doing and act with precision.
06.10.20 $AVCT, $CLDX, $FCEL, $GNUS, $JFIN, $SPY, & $MOXC
At this point I'm definitely over-trading and today was a complete train wreck. I was down heavy on the day and then I did something incredibly risky and stupid by scalping massive size to bring the day back to a manageable loss from a dreadful loss. The follow-through just wasn't there today and I kept running after trades as though it was. I also miscalculated my position size a couple times and was in way too heavy at least two different times. Thankful I didn't size up at the beginning of the month as I planned because today would have been that much worse. I need to slow it down tomorrow and not go after every trade. I need to keep focus on one or two names and let the chips fall where they may. Seems that every couple-few weeks I have a day like today and I need to cut this crap out. When I get up to full size there's no way I'll be able to handle losses like I did today or have the stomach to recover them with scalps.
$GNUS
My first trade of the day was in Genius Brands. It recovered VWAP from the low of the day on increased volume so I thought we'd get some good movement out of this thing. I entered a little high with a small position, in case it ripped without me, and when it pulled in a little I shored up my position with an add. I mismanaged this trade though because I was focusing on other stocks instead of this one so my profits came off out of place. Profitable trade but I could have managed it better by maintaining focus.
$AVCT
Next up was a failed attempt to long Amer Virtual Cloud Tech. It pulled into the previous high just over $5 and looked like it was going to keep running.. I got long but it dudded out on me.
$GNUS
My first trade of the day was in Genius Brands. It recovered VWAP from the low of the day on increased volume so I thought we'd get some good movement out of this thing. I entered a little high with a small position, in case it ripped without me, and when it pulled in a little I shored up my position with an add. I mismanaged this trade though because I was focusing on other stocks instead of this one so my profits came off out of place. Profitable trade but I could have managed it better by maintaining focus.
$AVCT
Next up was a failed attempt to long Amer Virtual Cloud Tech. It pulled into the previous high just over $5 and looked like it was going to keep running.. I got long but it dudded out on me.
$MOXC
This was another failed attempt at grabbing a pullback into the previous high. I think I got long a little prematurely with this one. I think I still would have been in the trade had I waited a couple more minutes to feel it out.
$CLDX
There's nothing pretty about my trades on this one. I initially got long expecting the tradeline to hold support and stopped out when it broke through. I didn't expect it to rip as high as it did and in reality should never have taken the initial position. The risk/reward just wasn't there for the move I was expecting. The fact that it ripped clear up to $5.60 was nowhere in my plan for the first trade. My subsequent trades in the afternoon sessions were an outright mess. I miscalculate my position size and was in way too heavy. Instead of reducing my size I kept it on thinking, ' if this trade works out, my losses are covered." Then I held past my stop to give it even more room. I finally stopped out and got long again and did the same thing. The blank trade bubbles are me being a complete degenerate and scalping massive size for pennies. I didn't fill in the prices because it's easy to tell there's not real movement in the price of the stock where I was acting like a moron. It ended up working and brought my loss on the day back to a small loss but still, the ends doing this don't justify the means.
$SPY
This was another botched entry with too much size. I initially got short looking for a move to and through the low of day. After I got short I realized I took on a little too much size and corrected that with a take profit. Then I got whacked on and stopped out. Pretty irritating to add to the losses on the day.
$JFIN
This stock halted up around $29.00, pressed down on the open, and immediately recovered. When it started hugging the high of day I thought for sure it was going to press through and rip to a new high; that was the trade idea anyway. My idea didn't work and I stopped out for a small loss. Right after I stopped out it halted to the down side right over $20.00 and when it opened, it opened to the up side. Since this showed a sign of massive strength I got long with my stop just below the halt level. Throughout lunch it developed a pendant and when that pendant broke I added to my position, looking for the short squeeze, and moved my stop up to the inside of the pendant. As with the rest of the my day, I got railed on. It fell right through my stop and took me out clear down at $21.15. I think the setup was solid - this was just one of those things and one of those days.
$FCEL
This was a small winning trade and a trade I shouldn't have taken. I took so many trades and lost today that there was no reason to keep playing the game. I even tweeted that this setup would probably fail just like all the other trades in the day. None the less, when it broke the pendant it formed I hopped in long for a couple minutes and then bailed on it, not expecting it to break the high of day. It did but it struggled up there.
06.09.20 $DGLY, $IMRN, $IZEA, $LOVE, & $NKLA
A green day but nothing to write home about - two wins and three losers.
$SOLO
What a fat thumbed botched trade this was. I got long in front of the initial morning high looking for the tradeline - VWAP cross and push up and through $2.73. I wasn't sure where I should place my stop when I entered so I took a light position. When my stop showed it's face and I felt comfortable with the trade, I went to add to my position and closed it by mistake. It wasn't until I went to take my first profit in front of the high that I realized my position was flat. Majorly disappointing.
$LOVE
Lovesac Company provided me with nothing but disappointment on this trade. I got long in front of support at $27.24 and the tradeline, looking for a move back up and through the high of day but the setup failed and I took a hit.
$IMRN
My next trade went much better. I had Immuron Limited on watch all morning and should have started my position in front of $6.50 when that level was tested. I had it marked but didn't trust is (for some reason). I should have grabbed a tier one position then added through VWAP. None the less, I caught it on top of VWAP right before it pushed to a new high of day and peeled pieces off right where I wanted to all the way into my final target at $16.70. I hit a market order on my last piece and got a crap fill on the order though. Good reminder to limit out unless I'm stopping out. Who knew I was leaving so much on the table with this one. During lunch it came down and tested the morning high but I didn't hit it again because it was right in the middle of lunch and after last week's failed short on United Airlines, I drew the line on initiating positions during lunch so I held to that rule.
$NKLA
This trade in Nikola Corporation, I actually hit on reversal play before $IMRN but it I didn't start taking profits until the $IMRN trade was over. I was looking for a move back up to the high of day. When I went to take my first piece off the table I accidentally added so I immediately closed the add and took my first profit. When it pushed higher but support failed at $83.66 I tapped out and closed the position. Really happy with how I managed this trade overall.
$IZEA
This was a botched trade from the word go. A massive hit of volume went off at 11:00 and cleared the board, pushing price up and through VWAP on the heaviest volume of the day. More than likely this was an institution getting long and not a momentum play. I misread the situation and got long for a momentum push back to the high of day but my read was incorrect.
$DGLY
The idea on this trade was obviously to get back up and through the high of day but it was all thumbs. There was no reason to enter this trade where I did. All around, this was just a bad trade idea and bad trade.
06.08.20 ENOB, $KNLA, & $WLL
Not my best day but also not a bad day at all. I'm actually pretty stoked about the day I put together. My first trade was a loss but I feel like I entered where I should have and managed my loss well. It also didn't hold me back from moving onto the next trade. More or less, it was an emotionless loss, which is nice.
$ENOB
Enochain Biosciences was my first trade of the day and I liked that it gapped up and faded nicely into long term support at $9.50. I got long looking for that level to hold and when it didn't, I shut it down right away and moved my attention elsewhere.
$WLL
My second trade of the day was in Whiting Petroleum and although it was a winning trade, I could have managed it better. I entered on a pull back into the initial morning high, got my first piece off in front of the high of day, then my second right on top of long term (minor) resistance at $2.39. Where I went wrong is that I moved my stop. We've been seeing quite a bit of follow through lately and typically I move my stop over my entry after my second take profit. With the market providing follow through, there's no real need to do that. I Should have left my stop alone and held to my last target, which would have made this an incredible trade.
$ENOB
Enochain Biosciences was my first trade of the day and I liked that it gapped up and faded nicely into long term support at $9.50. I got long looking for that level to hold and when it didn't, I shut it down right away and moved my attention elsewhere.
$WLL
My second trade of the day was in Whiting Petroleum and although it was a winning trade, I could have managed it better. I entered on a pull back into the initial morning high, got my first piece off in front of the high of day, then my second right on top of long term (minor) resistance at $2.39. Where I went wrong is that I moved my stop. We've been seeing quite a bit of follow through lately and typically I move my stop over my entry after my second take profit. With the market providing follow through, there's no real need to do that. I Should have left my stop alone and held to my last target, which would have made this an incredible trade.
$NKLA
I'm actually really proud of myself on this trade. I typically don't do well with high volatility but I got into this thing perfectly and my execution was on point. It was also a really nice win on the day.
06.05.20 $MFA, $RIG, & $UAL
Not my best day and took an embarrassing loss short United Airlines to close the week.
$MFA
My first trade was in MFA Financial. It gapped up and looked like a short plat to fill the gap down to the previous day's high. When it tested the morning low I got short and successfully got my first piece off in front of the current low. I stopped out when it changed direction on me and when it broke VWAP on heavy volume, I reversed my position to long it back to the high of day. When it broke the tradeline I sold it off for a small win overall.
$RIG
My second trade of the day was in Transocean Limited and is where a little frustration set in. I got long on a pullback into the tradeline and test of the morning high. I took my first piece off and when the resistance level at $2.41 rejected I closed the position rather than holding to my stop. I should have left it along and finished the trade. Another small win on the day.
$MFA
My first trade was in MFA Financial. It gapped up and looked like a short plat to fill the gap down to the previous day's high. When it tested the morning low I got short and successfully got my first piece off in front of the current low. I stopped out when it changed direction on me and when it broke VWAP on heavy volume, I reversed my position to long it back to the high of day. When it broke the tradeline I sold it off for a small win overall.
$RIG
My second trade of the day was in Transocean Limited and is where a little frustration set in. I got long on a pullback into the tradeline and test of the morning high. I took my first piece off and when the resistance level at $2.41 rejected I closed the position rather than holding to my stop. I should have left it along and finished the trade. Another small win on the day.
$UAL
This is my embarrassing trade of the day and an incredibly disappointing way to end the week. The setup looked great but we were right in the middle of lunch. There was no reason to execute this trade at this time of day. The move was to wait it out through lunch. Just because it looked like a great setup, the fact that we were in lunch meant it was a no-go and I took the trade anyway. It was a dumb move that gave back most of my day. Green to close the day and the week but my last trade of the week shouldn't have existed at all.
06.04.20 $AAL, $SAVE, $TVIX, & $WYNN
Really happy with the day today. Took a loss right out of the gate on Wynn Resorts but locked in some really nice P&L on Spirit Airlines after that by having a short memory, then added to the day with some TVIX.
$WYNN
Wynn Resorts gapped up this morning and I was looking for it to test yesterday's high then get some continuation up to the $105 area. I expected the $100 level to suck this thing right through it after yesterday's performance. Yesterday's high wasn't enough support though and I ended up stopping out for a full size loss. I did get one piece off but that was only because I was in with too much size (bad math) and I was bringing my position down to max risk.
$SAVE
Spirit Airlines was a similar move from the Wynn trade but I was looking for it to fade into major resistance at $18.65. It came down and touched that level and volume poured in like crazy. I through my order out at $19 and feel like I got lucky getting it. It was a pretty tough trade for me to sit through mentally too. There were two pull backs before I finally took my first profit. We came right up into my second take profit and I thought for sure we'd cruse right up to my third. The $SPY took a beating not long after my second take profit and I moved my stop up to under the initial morning high to protect my trade. When I entered initially, I was prepared to swing the trade if needed but it just wasn't in the cards today. During lunch I took a stab at a VWAP bounce since the $SPY calmed down a bit but that was a dumb move. Tiny loss but I shouldn't have been in a lunch time trade anyway.
$WYNN
Wynn Resorts gapped up this morning and I was looking for it to test yesterday's high then get some continuation up to the $105 area. I expected the $100 level to suck this thing right through it after yesterday's performance. Yesterday's high wasn't enough support though and I ended up stopping out for a full size loss. I did get one piece off but that was only because I was in with too much size (bad math) and I was bringing my position down to max risk.
$SAVE
Spirit Airlines was a similar move from the Wynn trade but I was looking for it to fade into major resistance at $18.65. It came down and touched that level and volume poured in like crazy. I through my order out at $19 and feel like I got lucky getting it. It was a pretty tough trade for me to sit through mentally too. There were two pull backs before I finally took my first profit. We came right up into my second take profit and I thought for sure we'd cruse right up to my third. The $SPY took a beating not long after my second take profit and I moved my stop up to under the initial morning high to protect my trade. When I entered initially, I was prepared to swing the trade if needed but it just wasn't in the cards today. During lunch I took a stab at a VWAP bounce since the $SPY calmed down a bit but that was a dumb move. Tiny loss but I shouldn't have been in a lunch time trade anyway.
$AAL
I'm a dope for getting out of this trade. I got long on the pull back into the trade line and didn't like the volume that came in over a 5 minute period, so I bailed. Talk about narrow minded. This thing sailed right through my final target from my plan. Oh well?
$TVIX
The $SPY started tanking in the afternoon session and I thought for sure we'd sink right down to the $308 area and fill the gap from a few days back. I hopped in $TVIX and shook out initially thinking my read was wrong. A few minutes past and I saw my read was correct and when the $SPY pushed through yesterday's low I waited for the pull back and hopped in $TVIX long. I got my first two pieces out perfectly but sold my last piece off when the $SPY pushed back up. Sweet trade and way to end the day.
06.03.20 $SAVA & $SAVE
Must be something in the names today... It took a while to find a setup I liked this morning but Cassava Sciences, Inc gave me a really nice opening to get long. Later in the day I took a second stab at it as well as a shot a Spirit Airlines.
Cassava Sciences, Inc pushed up and made a new high on the day on really nice volume. As it pulled back into the tradeline the volume decreased nicely and it that previous high of day lined up with the pre-market high. As soon as I saw support hold I hopped in and piece pieces out all the way up to the 200 day moving average. My second shot was on an afternoon play where VWAP recovered on nice volume. I was looking for a squeeze into the end of the day, got one piece off, but stopped out on the majority of my position for a small loss.
$SAVA
Much like flying on Spirit Airlines, trading it was just as big of a let down. I entered a break of the flag at the high of day and missed getting my first piece off by a few cents. It then traded sideways the rest of the day and I ended up bailing for a small loss.
$SAVE
Cassava Sciences, Inc pushed up and made a new high on the day on really nice volume. As it pulled back into the tradeline the volume decreased nicely and it that previous high of day lined up with the pre-market high. As soon as I saw support hold I hopped in and piece pieces out all the way up to the 200 day moving average. My second shot was on an afternoon play where VWAP recovered on nice volume. I was looking for a squeeze into the end of the day, got one piece off, but stopped out on the majority of my position for a small loss.
$SAVA
$SAVE
