Intraday Trades: +$747. Was spot on about expecting a trend continuation day on oil. However, being a second day of trend it wasn't quite as clean, so when I tried to add to position I was stopped out, which is a shame, could have been another day. Was possibly a fomo situation, wanting to nail it with size again... But I'm not sure. Hindsight - it wasn't about the asian session highs and so buying a flag isn't going to be a high probability setup. That being said, I was stopped at roughly the low.
CL: Picked it up on a dip around the start of the US session, sold half into pop, and picked up the half lower again. Sold half into a pop again, and then as it held for about 20-30 minutes I decided to add back to a little more than originally had. Was stopped at low before a big grind higher.
Back Account: +$142. Was up really decently (about 5500) but then made a poor RR trade which took it all away. The poor RR trade was partially a result of poor methodology, and partially a lack of patience/fomo. After that trade (there was about 1 hour left in the day) so I decided to call it a day to lock in a profitable day.
Positives for the Day:
(1) Really really solid idea generation again. A lot of my better premarket ideas worked again.
(2) Really good execution/management, for the most part.
Negatives for the Day:
(1) Effectively one trade ruined my day...
(2) A little bit too much fomo present, which partially arose from lack of methodology. This was particularly the case in VLTC.
GPRO: One of my few premarket ideas that didn't work out... But managed to trade it pretty well. Bought the opening dip, sold into pop and locked in decent profit. Bought on new low, and was stopped.
I think the key with this trade was that once the $51 support was breached I should have been selling on any pop - because it was obvious the support was breached (rather than just a flush).
LL: This was a really solid trade idea for the premarket, selling into the $27.15 level. I missed the trade on the open for this (which is fine), and then it set up for a nice high of day rejection off the level as it started to get overextended (this was the trade idea), but as it got rejected I entered instead, recognised this and closed for a loss as it was grinding. Good early close!
VALE: So I didn't trade this very well. I think after being burned by it the other day I was reluctant to try and ride it, plus I had fomo from focusing on this instead of some other "fasting moving" stocks (which cause emotional responses). So I sold pretty early, which turned out to be 40c early, where I probably should have been adding.
VLTC: So I was basically spot on with my trade thesis that it would run all day and I wanted to hold 1/4 for the entire day. The idea was that the volume indicated a clear change of character from the other days where bounces were sold heavily into.
The character of these is that they punish breakout buyers, which is how I got punished late day. Basically I should have been looking to pick it up on reasonably dips towards trendline, rather than say the 8EMA, or on a "held" breakout.
The other thing I probably did a poor job of was using starter positions and adding to a winner (another sign of fomo).
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