-the first mistake was "mentality", I told myself to go big on this trade b/c i am sick of the mediocre results in the last few days which unfortunately put me into a nasty situation.My first short was at $3.62 and reshort at $3.98 so my avg was $3.75. Terrible average considering the price it traded around. YES I admit I was subject to FOMO effect but that wasn't the main problem. Moving forward I will continue do the same trade but will definitely keep position size small. The REAL and FATAL problem I had was I didn't cover "FULL position" after spotted "red exhaustion candle" was so small, didn't snap below the VWAP and it followed by 2 smaller candles. This action is a big big big red flag danger sign!!!!!!!!!!!! Simply meaning no sellers! meaning that it could do LEI type of move!!! Shorts were lucky this time that it stuffed at $4.40 but in the past during bullish and crazy market it could go to $5, $7 $10. I ended up cover in panic with ST is difficult to have good execution. My first cover at $4 and 2nd cover at $4.30. This is why "ENTRY" is so important. Yes eventually I would make money had I held it but I let my emotion gets in the way due to terrible average. Ended up taking big loss in just few minutes. Not a good way to start the day..
Had right read on the price action, lvl2 so took a speculative long midday with thesis that it would reclaim $4 and shorts would panic and cover. Luckily it worked out perfectly and I added to my position on the gearing action. Didn't have good sells but good trade and healthy profit.
Good trade but overstayed. Today is the day that small caps have 9 lifes...therefore it's never a good idea to stay long, always cover in lull!!! Patience has 50/50 works on small caps!
Trash company, Day3 runner so I had conviction it would come down. Was pissed at the loss I took on first trade so couldn't pull the trigger. Had a bad avg but it worked out. Again like GBSN it squeezed stubborn and patient shorts at the end.
Straight forward. Shorted it with stop loss HOD over/under.
Got killed yesterday shorting it afternoon therefore was extremely cautious trading it. Was definitely short biased because yesterday's entire action was due to short squeeze. I came into the day with 2 plans on it. If it gapped up huge and held trend I would be buying dips but like many recent runners if it gapped down or nearly flat open I would remain short biased. My thesis worked out but for whatever reason I didn't trade it, maybe b/c there were too much going on today and it fucked me once so I was too scared to touch it. Ended up nice fade through the day. This is what so-called backside move usually happened after big-ass squeeze. The momentum shifted and every pop can be treated as shorting opportunity.
Yesterday was the day I lost biggest $ since started trading full-time and today is the d
ay I am feeling I performed the best not moneywise but the overall trades management. Had success and had failures, had wins and losses and this is what trading about. If you try to win every battle you will lose the war!!!! Successful trader do NOT nail and profit every trade!!! Taking loss is the MUST in some cases!!!! Longevity via consistency!!!!
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