Intraday Trading: +$367. I am going to begin including my back account in my reviews starting in April due to the size it has grown to and that I am trading more actively in it than expected (RADA today is one not included in PnL figures but that there are intraday lessons to be learnt). Ideally eventually the back account will grow to the point where I can (predominantly) keep swing trades in back account and intraday trades in main account. Obviously the line in the sand won't be 100% clear and there will be a mix based on borrows, and intraday trades turning into swings. Overnight trades would also still go in main account.
So today was a pretty good day. The probability of success was more in line with what I have been aiming for, and all of the ideas were reasonably high conviction ideas. Looking at the results again, there are really only two identifiable mistakes that I made and I dealt with those in a timely manner, so really really good trade. I missed 2 or 3 excellent trades, that I had high conviction in (which I may as well review in here for the sake of learning purposes), so today was very much a grinding type day, so am feeling reasonably happy with the day.
DGLY: This was just a scalp around Tim alerts. He alerted long late day, but the chart is clearly a short to me. Waited about 10 minutes for it to peak out, offered out providing liquidity, then as it started breaking down his sale fueled the fire. This type of trade will only ever be a scalp, but I may continue to do it purely because it is a good attitude to get into, rather than trying to follow others... It also preaches patience.
SWKS: Shorted the break of morning consolidation (which was also vwap), stoploss above. Reasonably happy with trade, but certainly not an amazing setup.
SONS: Didn't even have a monster trade in this. Was just two really good trades. Gapped down large off earnings, but first move was up an held higher. Got long, stoploss below consolidation, managed appropriately and taken off into resistance (wasn't greedy).
Then mid morning it was clear it was peaking out at resistance, so I flipped short, looking for move to lows. Again, wasn't greedy and managed appropriately, and then took rest off when it paused and RR didn't make sense to hold any longer. Great trading!!!!
QUNR: I nailed this for the weak open red to green setup. Only had 200 shares but sold 100 for ~$1 profit, and the other 100 for about $1.50ish. Now late day I was looking for a fade and basically got too large on the short and ended up stopping at the post 3pm high. Now I'm okay with that but I think risk was a little wide, and position too large. Gave back far too much profit.
PRTA: This was actually a bad trade. A really good trade idea though, but poorly executed. Good thing I realised this and covered short very quickly. A real shame I didn't revisit this midday, this was one of those high conviction shorts I mentioned.
LL: Still same idea as yesterday and is a high conviction idea, but has to be executed well because it just doesn't want to to work yet. Sold into strength despite high conviction. Good stuff!!! This is going to have a massive squeeze if it gets going so I grabbed some far out of the money calls.
GENE: I'm okay with this trade cause it's due for a bounce, but I was too large, and so lost more than I should have. Would have been plenty of time to add if it was going to work. But didn't get stubborn, just got out, so good stuff.
BABA: This one was sort of funny in a way. Bigger picture it's really looking over a little, but $82.80 was reasonable support and it was doing big volume below the level, while being a little overextended. So I got long. Risk 20c, stop below the lows. Only 200 shares, but sold half quickly to cover risk. Had been looking for $84 on the last half, but took it off when it paused at $83.50. Good trade!!
HLF: I completely missed this. I came in wanting to short an opening pop but didn't get high enough (which I'm happy enough about, patience is key at this stage), then tried to short as it was consolidating at the lows but had no shorts and my back account BP was maxed out via RADA. Disappointing... What a trade!!!
ADXS: Where my offers were I would have nailed short.. But I cancelled them. To be fair, it looked pretty constructive at that point, but turned out to be a massive midday stuff (which I should have been expecting).
RADA: I was short back account basically looking for it to hold red, and below vwap. I had strong conviction it was toast (because of the volume, and historical price action). So that midday stuff, which got over vwap twice got me out. I'm pretty happy I closed short (because that was my plan), but this reinforces the importance of revisiting a trade. Once back below vwap it was very clearly a short again.
Swing Trades: +$682.
FB: Trimmed a little today. Perhaps should have trimmed a little more, but with twitter strength it should pull it through a little more.
AXN: Looking for $1 from here. Still impossible to short again.
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