Intraday Trading (oil only): -$77.Will probably be trading only oil on this account for at least a couple of days. A few reasons for this. The first, issues with PDT. The second, I need to learn to control my risk and be patient, and oil emphasises these qualities immensely. The third, am swapping brokerages so no point in topping up account to withdraw it.
CL: Bearish bias based on daily/hourly. Looking for a bigger picture move to about $54.50-$55. Levels to short into where the $56.66-$56.85 range, and $57.14-$57.40. Got one contract short early in the morning but didn't get a chance to get a second one (missed by one cent, great patience!!!), so was forced to cover at around first target. $56 was a spot to risk 10c on the long, and news came out and met target instantly. Then got met on short offers into the $56.66-$56.85 range and was stopped and opted to retry, and was stopped again. Was starting to get a little frustrated at this point, which paid off, but missed the short into the $57.20 pop (just).
Overall, this is exactly the patience I need to have! So if I can keep it up for a few more days I'll be happy.
Swing Trades: -$105. PSTR still just chilling out...
Back Account: +$9414. Obviously a crazy day - this is the eptiomy of "conviction trading". Need to continue this, while ensuring that I don't get carried away and take non-conviction trades with the size that I would take a conviction trade with. DO NOT WANT TO GIVE THIS BACK... Don't have any high conviction ideas for tomorrow (except short VLTC which I am unlikely to have shorts for), so avoid trading it aggressively.
LOOK: Shorted premarket and was prepared to short higher, covered in the $1.70s. Good trade. This accounted for about $1000 of the profit.
Comepletely missed the short into the $2.30s which would have been an amazing trade... But not complaining about the day - it's okay to miss trades, if you're trading the ones your trading well.
GBSN: Great setup on the daily, and the news put it into the breakout range. $5 was a key level and then $5.40.
Started in premarket around $4.75. Then got some more on the opening dip around $4.70s.
Added through $5, and then added at $5.50 (which was a bad add). Got final add on the flag consolidation over $5 (basically gap, opening drive, float rotation, and holding above resistance). Sold all 3/4s around $5.74-$6.05 and then was stopped on the remaining 1/4 at $5.29.
I tried a scalp around $5.40s, and while I clearly had the right idea (because it bounced after that) I was stopped on the scalp at $5.29 as well.
No comments:
Post a Comment