Intraday Trading: -$892. Really really annoyed about the day. After trading so well yesterday I was just too happy with my progress and didn't keep it up. There were a few signs of poor trading (not getting amazingly good patient entries) and then the massive mistake with KRFT... Was down $1500 on KRFT at peak, instead of cutting losses (so that I was down say 200-500 at peak), and then nailing the final downmove, adding in to a winner, which would have yielded me about +1000ish. I had the right intuition about what was going to happen the entire time, but just got size, and process, and controlling losses all wrong. I think I need to work on how to control losses for these parabolic moves that go further than expected... But it will require quite a bit of thought, and something for over the weekend.
VBLT: I actually nailed this long with 300 shares and just missed the sale on the second third of my position at the top. I need to be more weary of these midday breakouts, cause they tend to be just rubbish, even if they hold above etc. So that was good.
Then as it reversed midday I got heavily long into it and was stopped at the bottom. Why did I? Purely because there was a large offer and these and order flow contrarian. Which is absolutely silly... That is just one component to a good trade. Anyway, I was stopped at the low which I deserved.
TWTR: Obviously had the completely wrong bias on this. In general I overtraded it with too much size, and got stopped out quite a lot, rather than focusing on good entries and maximising probability of success.
This was one of the first signs that I was trading poorly.
ORMP: Tried it for the weak open r/g type trade. Obviously didn't work, but happy with cutting the loss etc. Good trade.
LL: This thing has been super tough.. Very lucky I put in a swing on the options. For tomorrow, remember that each stock has a personality and so I should adjust to how this thing doesn't quite like to hold that nicely. Or just steer clear of it unless can buy near lows etc..
KRFT: I initially shorted into the premarket high, and instead of simply stopping myself out I waited and waited and then added... Then held stubbornly... Could have been a killer short, but completely messed it up.
FB: Tried it when it was perking under vwap in the morning but just didn't quite work out. This is an example of a trade, where if waiting for good entry I could have risked 10c instead of 30c, then covered risk when it rallied, and in result a profitable trade. Patience for entries!! Still all that being said, it was a reasonably trade. Controlled risk etc, certainly better than plenty I made today.
ESPR: $100 secondary price. Bidded in front and on a wash. It doesn't make any sense to be bidding in front because spready stock, big ATR and first test/open=likely for wash. So I did a good job of flipping it, but then as it held under I didn't close the rest, and instead let myself get stopped out.
Swing Trades: +$134.
FB: Bit of a shame I narrowly avoided getting met on the next contract for sale. I guess something to consider is that around midday it became clear that there was a change of character for FB, and so combined with yesterday afternoon selling it was no longer going to be a good trade.
AXN: Proving the value of active management. May get a chance to add higher... If I can get borrows... This looks more like a dead cat bounce, so should be looking to short again sometime tomorrow.
CRMD: Initiated position. Bit of a chase, but have plenty of firepower left. Looking for 5s if I don't get to add higher, but will manage accordingly.
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