Swing Trades: -$84. Established a swing position on BABA designed to profit on a move to $92+, and lose money below $85. A nice setup on daily (earnings gap up, breaking downtrend from gap up), but the intraday action today wasn't promising so will probably look to close it soon if it doesn't look very good. BABA is a short below $85 so should be able to hedge that by trading it rather than closing options position.
Back Account: +$1635. Have been really slack with posting recently, which is a bit disappointing - have to focus on keeping up commitment levels and keep in the habit. Today the loss on DD was too big (the first trade), so that was a poor trade, but aside from that good accuracy and good trading. Much better than a few of the prior days where I have let a few losses get away from me.
One observation from today (aside from DD) I am getting better at taking really low risk trades, and getting the solid entry... This is something I need to keep up because it allows for better risk-reward, and earlier management, and therefore a profitable trade. Additionally today I was pretty selective about my setups, I actually missed a bunch of trades that I really liked (like a $3 move in DHR), but didn't chase etc so really happy overall.
DD: Big gap down and $70 a big level on daily. I got this idea from SS, looking for a $70 flush and then a reclaim of $70.70 for a bounce. I established on the potential higher low and held all the way down until it held below $70 - not a good trade. Joined the short but narrowly missed management (need to be aggressive with first management position, replacing shares). Took it off for a slight profit once $69.50 held.
DHR: Really liked this for a short into $90.50 on the open but narrowly missed, such a shame! But oh well.... Got long when it was holding and gearing up, but closed when each bounce started failing (great close!) Very nearly joined the short but again narrowly missed! Good trading, happy to miss trades to be more selective with the trades I take.
GIGA: Obviously the trade of the day, and I wasn't actually sure if it was a good trade or just a chase. But risk was only 10c and ended up going about 50c.
Got long around $2.20 when it broke out and added at 2.20ish when I was pretty sure it wasn't just a high of day rejection. Sold 2/3s into move into 50c and held 1/3 until mid 70s. Flipped short but covered quick (not an ideal trade).
OHGI: More of less the exact same setup as PTIE yesterday. Massive move, but not low float and spikes usually fail. So I shorted around strength at $2.80 and covered mid 50s looking to reshort into a pop. Never got the opportunity but would have been a great short. Overall happy not to have chased weakness because you can't do that on day 1 - also happy with full covers rather than partial.
Will be a great short tomorrow!
YELP: Shorted as it held below $48 (key level on daily/hourly) covered most into downmove (good aggressive covering), and covered the rest on trendline break.
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