Intraday Trades: -$91. Another frustrating day, feel like I should have been in decent profit bit wasn't. For tomorrow I am going to tone back the number of trade and focus on nailing a couple of high conviction trades. I will also focus on minimising the probability of being stopped out.
FB: Holding near highs into the close, didn't actually expect a breakout, looked more like it was going to hold below 83. Was bidding all day near vwap after the $82 breakout confirmed and never got met. Picked up some weekly options for a swing for next week because the breakout looks real and should experience a 3 day run with reasonably high probability, especially given the market.
LL: Got long after the rounding action. Hindsight this was an okay trade if entry near the base, but not a good trade when I added after the initial move. For example the over/under $29.10 and then entry at $29.15 is a great trade.
FOLD: This was a great trade. Reality is that I wasn't big enough, and probably didn't do a good enough job of anticipating what was happening (i.e. missing the sale of final 1/3 into the parabolic and getting stopped below $12.00 at $11.99). I did a great job of getting back in once I knew I got faked out. The spot to get bigger was when it reclaimed and consolidated above vwap (where I re-entered). This is a good example of how focusing on one stock and using mental stops rather than hard stops can be beneficial.
ZIOP: I got this trade idea of codytrades on twitter. Really good trade, basically the sector was running and this was lagging and it had great RR (only 10c risk for approx >50c reward). Should have been bigger with RR like that. I also liked the way ZIOP had faked lower and had an amazing hourly trend up.
RTRX: Loss was too big on this. Shorted into the premarket high as they had an offering but it held up. Was a little too big and risk was probably a little wide. I should have had a hard stop in after it wicked above premarket high.
MVIS: I had reasonably high conviction in the late day squeeze on this. And it got the move, but I had just missed entry so I chased. Ended up being a premature late day move and got stuff out.
Tomorrow will be a "high conviction short" in that I will short aggressively into morning strength and try to avoid being faked out.
GPRO: This was a low conviction trade, and in hindsight probably a boredom trade. Got long because it was tight with low risk and stopped at lows.
CNDO: Joined the parabolic move long late into the move and sold most into strength. Good trade. The frustrating thing here I guess is that I kept a little bit on to ensure that I didn't miss the short which I figured was coming up... But I did.
BABA: This one was nearly the biggest trade of the day, except I only got 1/3 of the size I wanted. Was bidding into $85 on the open, with orders to get the rest of size below 85 on a flush. Never happened and got the nice rally. Bit disappointing. Good trade though.
One thing I'm really happy with is recognising that it wasn't a long after all the weakness. Although clearly $85 held for a nice trade (should have had an alert for $85).
AXMM: I'm not sure whether this was a good trade or not. Tight consolidation so got long with stop below. Being a promotion I'm not sure whether the risk was well defined enough for that kind of trade. Ended up hitting my targets by the day end though.
Swing Trades: +$48.
ADXS: Proving the importance of recycling shares yet again. Had I been covering into the $11s I could have had some risk free shorts here. I traded this intraday for roughly breakeven, but which is ruining my average as it locks in profit.
CRMD: Finally got met on the offer for my options. Love this as a short, but need to liquidate the options, so will look at putting a back account swing on this stock.
AXN: This looks finished now. Was so close to being stopped out, naturally I should have been out and re-established. Will look to take size off at breakeven and reshort higher.
GENE: Missed the buys on the washout to mid $3s. That was basically the spot to get a bit more size on and then I could flip it into the close. Remember that the key to this play is to buy weakness not strength, because strength should be shorted.
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