3 trades, shameful of all of them. meritless and purely TA don't work!!!
This is the setup that I always stay short biased at least initially!!!!!! why LONG?????
1st trade is fine, bought small size b/c it was big % gainer and uptrending and took small loss.
the 2nd and 3rd trades were stupid for mainly 2 reasons: 1) bought the 2nd trade into strength in midday. 3) the timeframe were wrong!!!
the 3rd trade were based on my assumption that shorts would panic and covering. I knew it was casino trade b/c there was overhead resistance right there and I chose to ignore it and it was 12:30pm lunch hour... why trade on anticipation/guessing game??!!!! FOCUS on reactive trade!!!
turned a winner into loser. the first short was great risking $24 BUT street.com AdamF came out a positive article with $40's something price target which boosted the stock price up and I got caught and had to cover. That's why it's hard to trade mid & large cap stocks that is above $10!!!! Things get complicated and YOU HAVE NO EDGE!!!!! Remember that!!!! you have the choice to pick opponents!!!! why pick tough one!???!!!
Took loss on VKTX and did a revenge trade. the volatility and liquidity just wasn't there. Shame that I let negative emotion influence my action!
Another casino trade!!! Sometimes I don't understand why i am doing what I am doing??! why betting on 50/50 when you could bet on 80/20 or even 90/10 odd trade?????!! Why gamble??!
ONLY focus on highest win ratio setup!!!!!!!!!!!!
Didn't trade this thing but it's invaluable to see that it takes many days to develop the setup so in the future if I have locates I will be familiar with the situation and how to handle it. the KEY is drilling into short selling's mind, "if I am short, at what point i would say shit, i gotta get out". However it's hard to estimate when the momentum will shift so the key is never hold this thing o/n and ALWAYS attack it in the morning squeeze and reevaluate later!!!!!
In hindsight $8 is the top but rewinding back to the real action at what point to short yields best risk reward ratio??? It's okay to short into "pullback-rip HOD stuffing lvl" at $6.60 but if the action continues given couple minutes the scenario is transforming into consolidation instead of stuffing action!!!!! As soon as short sellers realize it they would start getting out which creates a more ideal shorting point. Earlier it was ideal shorting risking $6.60 until the flag was breaking out and the next lvl becomes $8.00 due to lots of rip-and-pull activities there. So don't be afraid to put in size!!! if you wrong be wrong!!! but the reward is massive!
No comments:
Post a Comment