Easy on the hindsight but it really isn't before the cracked especially when you have not-so-ideal entry and you are experiencing turbulence of p&l. I was short biased from the get go! trashy news BUT the only concern was that premarket crack could shake all the weak longs out and brought in shorts. The main damage came from my first short, I ate $800 loss. At that point you couldn't tell how far this thing could possibly travel. It seems stuffy but bidders kept popping up at the same time. But my experience tells me that it could travel a little further before putting the top. I top ticked it anticipating stuffing and it did happen but I had to cover half-5k shares just in case. Then it seems $3 kept reclaiming and I finally stopped out into stuffing action before the pull and that's the beginning of the end. You can't separate emotions from trading. 50% retracement from the peak is likely going to yield another stuffing action before the pull!
MCUR is not easy and I took loss but I traded it the best of my ability. Monday monring, holiday, up on Andy Biotech's tweet who has large base of following, hodling above VWAP, warning from D4 and Emil.. There are a lot of indicators telling me Hey, the best is not touching it. So I covered half-5k shares at the VWAP. Never thought the volume would surge and get stuffed before the pull $2 snap off. The most difficult part for me is it's hard to tell whether the volume surge and price uptick is considered stuffing or beginning of next leg. You can't tell until it's happened. I should have given it more time but didn't. Classic head and shoulder pattern.
These are the indicators that tells me the move is likely "stuffing"
1) lots of overhead selling pressure- you can gauge it by looking at lvl2, time and sale and whether your order gets filled or not at the top. Don't make premise but observe and react to the fact!
2)pay attention to the volume push/crack!!! If there are lots of absorption that's huge red flag!! get the fuck out!!! On the contrary if there are big volume push on the offer but failed that's good sign for shorting!!!!!
I guess today is just not my day!! SAEX, had conviction on this trade and had ideal POS but time stop loss got triggered so got out. Then came back from lunch and it cracked...WTF.
Big daily chart so was short biased entire morning. got busy with IPCI and MCUR so took eyes off it. Knew it was choppy and tricky and always had 2nd leg. It ended up breakout fakeout then pulled!!! Nasty action!
AT09 hit 5-figure today and I felt I traded everything correct but took loss. Frustrated and pissed but what else can I do?I was trading too cautious and too tight!!!! That can be good or problematic! On a stock like NVFY, OPTT, RGSE it saved my ass from blowup but trading lots of other stocks it can be really bad ended up stopping out a million times just to watch the stock goes my way after my stopout. Starting tomorrow, if you have conviction and feel you read chart right, don't be afraid of 10-20 cents move against you at risk of giving up 50cent your way!! Always know at what point you want to POS!!! That's important!!!! Like Michail Shadkin said, "it's your way or no way". Better miss than being early and crying and wishing you are not in the trade!! Expand your timeframe a little further!!!! You must appreciate the volume pops in the morning because that creates opportunity!!! That allows you to size up!!
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