Back Account: +$332. Bit of a disappointing day. Traded the morning really really well and then just a few execution errors that piled up, and then one slight misplay.
First mistake was accidentally setting a market order to sell on LL instead of a stop order - which resulted in 2 losing trades instead of one. But those things happen so I can't beat myself up about that too much - although 1200 is too much to lose on two trades anyway.
Second mistake, and this was a bigger one. ONTY was setting up a low risk long and so I used the tight risk to get some size on... But I got carried away and got 4x too much size on the trade.
And finally the third mistake was execution of the short parabolic on VBLT. I went in full size straight away instead of scaling into the parabolic - should have been a 5k+ trade.
All in all happy to come away with a positive day after some silly slipups. Focus tomorrow on getting the small things right - had some great trade ideas today, just needed to execute on them correctly. Withdrew account size down again, so that should help.
CHTR: Really nice textbook setup on fading the upmove of acquirer when the offer is in stock. Most of the trade played out in premarket, but on SS guidance looked for the 178-180 zone for short on the open, which worked perfectly. Covered most into 176 and the rest around 173. Great trade. Was looking at it for a high of day rejection, which worked but in the end didn't take it.
CTRP: Something that was on my short radar on the open but wanted a parabolic push to $90 first - what a short that would have been! Got long (nice and patiently) around 82 when it broke the downtrend and sold into 83. Was just a scalp but really solid trade. Was looking for a little more but it was clearly failing.
FXCM: This was a bit of a random trade, and I think I got a little lucky with it. But got long on the pullback from the first wave where risk was less than 10c and literally got sales near the top.
LL: Chased it a little on the move over 21.90 and as mentioned I slopped up entering in the stoploss. Wasn't quite that clean anyway, and didn't have as good entry as I should have.
ONTY: Already alluded to this. Don't need to go into it anymore.
PTBI: Another execution mistake not mentioned earlier. Basically just had the whole play here - can't chase it until it's broken out. Daily chart is strong so I have established a swing position and will add lower.
VBLT: Misplayed the initial parabolic by not scaling, and then missed the gimme short at resistance after it.
YOKU: Gap down killed my short idea, I wanted $31 to short. Missed the long after the double bottom, then tried to short the move off the bottom twice and actually did quite a good job of not losing money - it was very strong!
No comments:
Post a Comment