Thursday, June 30, 2016
6/30_AKER, AMPE, HSY
Niche setup but lack of liquidity, did the best I could
Did the right thing when it failed to crack, I saw these large cap comeback countless times.
Yes in hindsight should have given it more time as long as $1.50 peak out. But this thing was down 50% today so got scared that it could come back up. And honestly was very hungry at that moment and up $1300 and today is the last day of the month so didn't want turn it into disaster so got out.
Wednesday, June 29, 2016
6/29_TSRO, reminds me of VRX, NUGT, GNC, FOE
purely technical trade. took ss premarket and covered for tiny loss. Got 2 red flags but ignored them.
The main damage came from morning ss. This $70s stock must be treated differently from those crappy low float stock. the stuffing theory doesn't work here!!!! The stock can trend upward as song as it wants to, no pullback is necessary.
I took one more shot risking $80 but again wrong. got out with small loss.
High price stock is my weakness. Remember you can always avoid it!!! You do NOT have to trade it! why throw yourself into a deep hole??
Tuesday, June 28, 2016
6/28_XNCR, GBR, FOE_"Next Candle Rule" on GBR!!!!!!!!!!
It could be a terrible day just like LEI in my trading career,
Thankfully I had no locates on ST so didn't short it. I was actually thinking to short it in the $2.10s and likely I will add at $2.3s, $2.5s etc and turned this into a disaster. All of sudden I am afraid of using CP account when locates are so good. Sometimes it's good have no shares to ss and it saves your ass big!!!!!! low flow(<1m) plus small green upward candle is NO SHORT!!!!remember LEI???? Wait for parabolic!!!!!!!!!!Just because a stock is up 50% doesn't mean it can't go up another 50%. Remember for small cap your ONLY edge is big emotional candle move!!!!
0 regret taking the trade, and in hindsight not perfect BUT good exit when $17.32 got broken.
I could have done so much better. This is a tough one, doesn't have retail trades involved, holding above VWAP the whole time and $17 kept reclaiming, lots of red flags but my thesis was $17.32 lvl over/under. Took loss but it was built in due to my wider risk plan. Perhaps I should have down sized when it was basing higher from my 2000 shares with avg. 16.8.
Never overstay ss on midday action. ONLY treat it as a scalp!!! especially large cap!!! The movement is clearly meaningful!!!
Thankfully I had no locates on ST so didn't short it. I was actually thinking to short it in the $2.10s and likely I will add at $2.3s, $2.5s etc and turned this into a disaster. All of sudden I am afraid of using CP account when locates are so good. Sometimes it's good have no shares to ss and it saves your ass big!!!!!! low flow(<1m) plus small green upward candle is NO SHORT!!!!remember LEI???? Wait for parabolic!!!!!!!!!!Just because a stock is up 50% doesn't mean it can't go up another 50%. Remember for small cap your ONLY edge is big emotional candle move!!!!
0 regret taking the trade, and in hindsight not perfect BUT good exit when $17.32 got broken.
I could have done so much better. This is a tough one, doesn't have retail trades involved, holding above VWAP the whole time and $17 kept reclaiming, lots of red flags but my thesis was $17.32 lvl over/under. Took loss but it was built in due to my wider risk plan. Perhaps I should have down sized when it was basing higher from my 2000 shares with avg. 16.8.
Never overstay ss on midday action. ONLY treat it as a scalp!!! especially large cap!!! The movement is clearly meaningful!!!
Monday, June 27, 2016
6/27_AKER_I shouldn't compare it to STAF on Friday_#Recency Bias
Another case with stuffing and absorption at the same time and lessons and mistakes on last thurs. and friday taught me to load up shorts and give it a shot. In the past I would definitely cover it when it was hugging the VWAP but due to recency bias I decided to give it a chance. Didn't quite workout so I covered half but reshorted due to non-significant volume and it could be secondary push followed by all day unwind.
Was right at the end but midday higher lows got me freaked a little bit so I covered. Then boom big red trend broken red candle happened so I reshorted.
2 things:
1) when the stock fail to break down, ALWAYS cover partial if not whole position
2) Always take profits along the way, forget about homerun breakdown!!
Friday, June 24, 2016
6/24_STAF, BSPM, EMES, ZAIS_$STAF-Left big $$ on the table!!! Due to FEAR!!
Very similar mistake I made yesterday on CLNT. $2.50 kept reclaiming got me freaked out so covered. Shoulda gave it bit more time!!!!! at least until 11am!!!!!!!-#Epica
GT, thought it could squeeze but HOD stuffing so got out.
casino trade but kept position small so no harm. Should have shorted into midday bounce risk VWAP
Killer daily chart so I chased up buying it. Didn't workout
Higher lows so I did late day long hoping EOD spike. Again lots of stuffing so got out. Just because it's got killer daily chart doesn't mean it has to fly!!!!!
Thursday, June 23, 2016
6/23_ZAIS, RXII, CNXR, CLNT_didn't trade ZAIS 100% appropriately, could got myself into big trouble!
Very slow market today and devoid of liquidity and volatility, extremely to get in and out
Gave them chance because of over-extension on daily chart but didn't quite workout. Still GT
Good morning short but it didn't do what I expected. $.20 kept reclaiming just like NYMX yesterday.
Took long afternoon 6000 shares with avg. $1.266 but didn't workout. Sold. Yes loss BUT good trade
Whenever I stay disciplined, shrug off the loss. Take pride in being disciplined trader!!
HOD rejection led me to ss into next anticipated HOD stuffing and rejection. Nailed the top and covered half because $4 reclaimed. Did the right thing. Yes in hindsight should have taken off the entire position.
Then here is the problem: I reshorted into weakness and got squeezed.
Low Float+SSR ON+short into weakness=SUICIDE!!!!!
Yes I was right that HOD stuffing and I anticipated people would start taking profit by EOD if it failed pushing but I threw patience away and shorted when time wasn't right. This is the play that you need to sit tight and only wait for big volume+strength to initiate short!!!!!!!!
Things could get a whole lot worse. Glad I only covered half at $3.40s and covered the rest near VWAP from position avg. $3.20
Wednesday, June 22, 2016
6/22_CETX, INVT, NYMX, SPU
KILLER trade but homerun mentality screwed me up. Didn't exit all shares by the bell rang. Was hoping for EOD washout so badly so I kept holding wishing wishing.... Fuck homerun mentality!
Didn't want to turn GREAT day into Good day so covered both. Very EMOTIONAL!!!that VWAP bounce was actually a good reshort spot!!!!
Got busy with SPU so missed it. Thankfully got a bounce opportunity to short it . GT.
Tuesday, June 21, 2016
6/21_ROSG, ETE, MYOS, DELT_Continuously Bleeding
Emotionally covered, it did faded through out the day, slow and choppy mover
2 shorts, 1) para shorting and covered 2/3 into the pullback.
2)reshorted into the bounce but it started basing $14 so I took it off.
very illiquid and I forgot about it when ETE popped up
Impressive volume and 200% up so I took long position anticipating EOD squeeze but didn't get that.
Monday, June 20, 2016
6/20_LPTN, EXAS_Same short selling mistake!!!!!!!!!
Been extremely patient on this but unfortunately it just didn't do what I expected so had to cover
Sloppy trades and same mistakes.
1) chased down ss morning weakness and almost got squeezed badly
2)just because a stock is not a short yet doesn't mean it's a buy!!!!!!!Lots of stuffing action and absorption at the same time, very choppy action.
3)Every pop met seller, no reason for me to hold long position this long.
4)Again it's one of those cases that I flipped from ss to long and when the momo clearly changed I have already missed the best time to ss!!!! Rather stay patient and wait for the best ss entry!!!!!!!
Friday, June 17, 2016
6/17_EXAS, EMES, GBIM
Frustrated day but I did the best I could as a trader
Saw emotional candle and stuffing action so took ss. Thought it would get rejected by VWAP so added ss but didn't workout, took it off. Stayed Disciplined.
Killer daily chart so my plan was if $11 holds it could keep going given lots of shorts in it. But it broke down $11 and peaked so got out.
Another killer daily chart. Overall I traded well both short & long. Took initial ss but it failed to crack so I covered and that happened to be the BEST cover of the day!
Then flipped long but the first bearish sign appeared I got out. It's extremely hard for me to long a stock because here is the reason. In hindsight this bearish red candle is just normal profit taking, not momentum shift. Then it breakout HOD again and I started long again. This stock likes playing around with traders, whenever it shows signs of weakness it reclaimed and spiked right up. $2.50 was interesting lvl that it dipped below it twice but reclaimed so I added to my long position. trying to be patient but I just don't trust this one. It didn't do what I expected so sold the last piece and called it a day.
Saw emotional candle and stuffing action so took ss. Thought it would get rejected by VWAP so added ss but didn't workout, took it off. Stayed Disciplined.
Killer daily chart so my plan was if $11 holds it could keep going given lots of shorts in it. But it broke down $11 and peaked so got out.
Another killer daily chart. Overall I traded well both short & long. Took initial ss but it failed to crack so I covered and that happened to be the BEST cover of the day!
Then flipped long but the first bearish sign appeared I got out. It's extremely hard for me to long a stock because here is the reason. In hindsight this bearish red candle is just normal profit taking, not momentum shift. Then it breakout HOD again and I started long again. This stock likes playing around with traders, whenever it shows signs of weakness it reclaimed and spiked right up. $2.50 was interesting lvl that it dipped below it twice but reclaimed so I added to my long position. trying to be patient but I just don't trust this one. It didn't do what I expected so sold the last piece and called it a day.
Thursday, June 16, 2016
6/16_EXAS, GBIM
Was wrong but proud of my exit.
Tried late day ss but wrong then flipped long for EOD squeeze but wrong again. Frustrated one
GT. $1.85 kept reclaiming so got out. No point to over-stay.
Wednesday, June 15, 2016
6/15_EXAS, AEGR, CLRB
Was wrong on everything today. But I cut my losses quickly so they had very minimal impact to my account. EXAS killer gap up but was fading and opened far from premarket high. But due to massive volume and Nate's long bias call I iniitally was long biased so I took long basically risking premarket low but it cracked so I sold. At at point I still kept my long bias in the mind.
But it sustained the downtrend and made new low which got me convinced hey this is not coming back and at the same time I missed the best time to trade it. Classic buy the rumor on day1 and sell the news on day2 stock. It reminds me of AEZS and so many others-big 1st day shooting up and gap up para followed by all day fade on Day2.
Wrong, thought it could do morning spike but stuffed so got out. Took loss but I was proud of it.
Lots of absorption so I covered. Did right thing that got myself out. But when it failed to keep the momo and run, I should have re-shorted but I didn't. I was just mentally not there.
Tuesday, June 14, 2016
6/14_LBIX, YGE, AKAO, SGY, EXAS_Be very careful midday PARA shorting!!!!! know where to get out!!!!!!
No much headache, pretty straight forward. What I am proud of is not $5k I made but 2 reshorts(circle) I made right after I covered. I talked about this earlier, i could feel how strong the sellers up there by using 2k shares hitting offers on lvl2. Nailed it.
The 2nd thing I am proud of was my exit of whole position when it failed to crack by 12pm. Later the day it went to $2.70s and I felt sooooo fortunate that I respected the chart and covered.
Another reason I covered was inspired by Soros' "backpain" trading. Whenever I feel frustrated and unconfirtable I exit position. I don't care the logics, reasoning or whatever bullshit. This is the intuition part of trading. After you trade long enough you know it.
The only loser of the day. Not that I am pissed of the loss or exited my position. A lot of times right after you exited, the stock behaved right again. What do you do??? You re-enter!!! No hesitation!! The main reason hold me back was fear and had position other stock. I sucked at multi-tasking.
A little headache at the beginning. I covered half of my position afraid of HOD breakout and ramp but when it topped out followed by red candle I re-shorted!!! Good trades!!!
Chatroom was talking about it but I completely missed morning para ss. So with SSR on I tried to be careful and patient and shorted into VWAP & volume-driven bounce and fail. Nailed it!!
Went out for lunch and didn't trade it for better or worse. If I was in front of computer maybe I would short toooo early and refused to cut position when it held and ramped. MR had average $8.70 and held it through $9.20 peak. Very likely I would do the same thing but you never know what you would do until faced with real situation. Just like words I put on the chart.
Monday, June 13, 2016
6/13_COYN, HMNY, EMES, GBIM_Hot Streak ended today!-$2000
lots of stuffing action BUT the main reason got me buying it was because I saw it had an PR related to Orlando shooting and thought it could get picked up by traders. Was wrong and hesitated to cut my position. Perfect stuffing, stuffing and boom HOD stuffing and followed by all day fade. I had 5000 shares with $2.06 avg which was wayyyy tooo big for long side. Casino trade!!!
I don't have regret on taking this trade but should have gotten out earlier when it failed twice breakout. Should have avoided it the first place. Huge spread make it hard to trade.
My only gainer of the day, chased a little bit because daily chart is extremely over-extended.
Got fooled around by this type of rip pull, rip pull type of action. Did good job on covering when $2 reclaimed. But I chased buying it and got myself into trouble. Whenever I chased I paid the price and this is not exception.
Today's market is different from last week's. Small caps weren't running smoothly like last week did. Therefore I decided to withdraw $31,000 and start trading small for the rest of week unless I see amazing opportunities.
Subscribe to:
Posts (Atom)