Back Account: -$2750. Stopped out for the day very early on. Really disappointing because there was a layup high conviction trade that I had been planning on taking with around 5000 shares and it moved >$2 a share (obviously wouldn't have caught all of that but still....). Great lesson sitting there watching my high conviction trade play out nicely while I'm stopped out for the day because of 2-3 stupid trades.
Actually had quite a decent day on main account, caught the high conviction short with 800 shares (was all I was able to borrow), and YOKU put options worked out quite nicely on the day. Still not enough to make up for this stupidity though.
So that makes 2 days in a row where I just haven't been quite up to it. For tomorrow (unless there are high conviction trades), I will really hone in and focus on the grind, keep losses tight and high accuracy. Really really important not to make it 3 bad days in a row.
KORS: Started fading this beast premarket. The general trade idea: That is, a big stock down a lot, once over vwap potential for decent bounce is an okay trade idea. Key is in the sizing and how its traded. Need to be starting into washes/levels and then adding to a winner. Not full size immediately with wide stops.
One thing that was wrong with the trade idea was trying to fade it so soon after the news... No rush to be in the trade, let the news settle a bit first.
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