Speculative trade, Eric and Emil in the chatroom went short and I believe most people did given the fact that it was up on FDA delay approval and the sentiment so I went long initially risking $22.25 but wrong, could have cut loss quicker but a little hesitation.
After drew the trendline and given the fact lots of people got out(red volumes) so I went short 500 shares but it grinded away from me. I didn't cut loss this time but instead waited for lower high to add but again-WRONG so I cut my position.
Rough starting of the day, not even 9am but I was already down $400ish. But I kept stop loss tight and disciplined enough to cut. So loss don't bother me as long as I stay disciplined.
It went para out of gate and I shorted risking premarket high and nailed it. 500 shares, that's it!!! it's important to watch the position size.
Then I reshorted a little too early but added when VWAP seemed reject but got scared so got out. Nate went long in the chatroom, I took it as red flag when I went short.
GT, yes shouldn't entered the trade in the first place. But I cut loss quickly. It's important just like Tim Grittani said, "if you are not willing to lose, you can't be a good trader"
this is the gift from the God. Recently stock with reverse split history is hot. After I saw it on percentage board it was trading around $4.10ish. So I went long thinking "low float, reverse-split, massive volume, it could go to $5. This is the part that technical analysis MUST works perfect when going long. My average was $4.16, it was right near the support, so if I was right, it's NOT supposed to test and even go below $4.10. Unfortunately I saw $4 was tested so I immediately slammed the bid and got out. Then it followed by a big red candle and I took an initial short-2000 shares at $3.70ish. At this point I could still be wrong if it help above vwap and could still perk up. But I started to see "asks" on lvl2 got heavy and lots of market order started hitting it and the asks just sitted there tightly which tells me people are selling/shorting big at that level so I took another short 2000 shares anticipated vwap cracked. It did exactly what I thought and lvl2 & T&S tells me perfectly what's going on with this stock, There were lots of sellings and asks got heavier so I took another short at $3.76 and it turned out to be perfect VWAP staffing. I still remained vigilent but as I saw it was making lower lows so I refused to cover a single share till big volume hit bids and figured most bagholders got out already and maybe due for a bounce.
A little frustration and headache and I wasn't 100% disciplined on this. First of all my entry was at $3.46 and thought it would at most stuff at $3.50 and go back down. I had conviction on it because it made new low so I knew it was a good bounce short. But instead it went against me but the reason that kept me in the trade was it stuffed at $3.54, $3.60 level. I saw lots of selling pressure at those levels so I moved my stop loss from $3.50 to $3.60 over/under. with 2000 shares with avg. $3.46, that's $300 risk right right but I was ok with it. Gladly it did exactly what I anticipated, stuffed at mutiple levels and made lower highs and at around 3:20pm I noticed asks on lvl2 got heavy so I went ahead and took another 2000 shares short. Again I was right but $3.42 lvl was a little choppy, it cracked the support but got reclaimed so I got scared and took off 2000 shares. Then before the bell I took off the rest. the "entry" was a little too hasty but overall I did well. Good trade. It's nearly impossible to stay 100% disciplined but you just have to try/perform the best you can. If there is loss, then so be it!!! Shrug off loss as long as you remain discipline.
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