Back Account: -$2302. Was a solid morning with no amazing trade ideas, but some solid grinding. Had a couple of trade ideas which worked but missed so did a good job of not being concerned about that (ISR, HPQ). After a while I think I started getting a little frustrated, particularly after missing the DGX parabolic, and then trading started to slip and get impatient etc.
Positives:
- Usually have trouble trading HOD rejections but traded the YOKU one perfectly.
- Some really solid grinding in the morning.
Negatives:
- Not covering enough into support.
- Not being responsive enough to a fake breakdown (opposite of HOD stuff effectively).
- Gave back too much on a successful trade.
- Target traded at end of day, which ultimately lead to giving a decent amount back.
AVEO: This was probably one of the better trade ideas of the day and I narrowly missed getting any size on the short unfortunately. Scale into morning spike risk on $3 then scale out accordingly. Great trade!
DGX: I don't recall exactly why, but I missed seeing this until the fade setup was gone. Would have been a really really solid trade, probably around >+1000. Tried the long once it settled down for an echo bounce but was too responsive to the price and didn't really get a good price so ended up stopping.
GPRO: Shorted into $55 on the open. Actually shorted 54.79ish because that's where it paused. Reality is because it's a pure play off a level and counter trend; I should have waited for the low risk short at 55. But overall happy.
HPQ: Reported earnings and $34 was a big level for breakout on daily. Got long premarket but was narrowly stopped. A real pain because it clearly worked very very well!
ISR: Another one that was stopped premarket. Was looking for the echo bounce on the open after the gap down. Worked perfectly but again narrowly stopped. This seems to be a trend in my premarket trades so something to look into more detail in.
MOMO: Really solid trade, was up quite decently on this at one point. Was long after it held the very key $17.50 area.
YOKU: Lost a bit of money shorting this on the way up - had stoploss a little too wide and added back some where I had taken it off as profit. This approach caused another loss bigger than it should have been when it broke the downtrend.
Ended up nailing the proper short on the high of day stuff/lower high and was net profitable but for whatever reason decided to get back into position(s) and take them off once had certain point of profit because I wanted a decent day. Poor trading.
The other mistake I made trading this, was that I still had 2/3s position when it came into the 30.30 support. I should have been down to 1/3 of position there.
The other thing, you can very clearly see the break of 30.30 but then hold of $30 and the reclaim. I should have been quite receptive to this.
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