Intraday Trading: -$787. Note that the FIT trade is -116 not -236, I established it premarket and the PnL monitor rolled forward kinda weirdly.
Positives for the day:
- To be honest I don't really see any huge positives for the day. Certainly not the end of the world loss which is good.
Negatives/Things to work on:
- Sized in far too early on my plays (specifically the AMBA bounce play).
- Too biased on looking for bounce on AMBA rather than joining the downtrend (for which it offered plenty of opportunity throughout the day). In this sense it is remarkably similar to how I traded VLTC on the day it crashed. I think part of this over bias came from the fact that some of the people I listen to each day were trying to bounce it, so need to monitor this.
- Forgot to put a stop-loss in on FIT.
- Didn't execute very well on CYBR; was stopped where I should have been full size and getting some size off into pops (which would have worked before being stopped on remainder, which would have then been reloaded into next support level which held and gave a $3 bounce).
To sum up: I think I'm a little too jumpy after recent losses compared to the excellent trading I did earlier last week. This has created a little bit of impatience and fomo.
Swing Trades: -$574. Bit annoying but I obviously loaded up my short puts for UVXY a little early. Hindsight could have spaced them out better (one at $35 and one at $33 for example) but I think it's okay as an exercise on those two puts will give me an opportunity to increase long exposure with the VIX in the 12 range and give ability to fiddle round with my range of written calls a little early. First time on this "UVXY campaign" that I have been full size so it will be interesting.
End of this week (with exercise on the puts) my average will around $34.22 (or $34.66 excluding written puts that weren't exercised) (assuming covering the calls at 0.26-0.36) so I will be able to aggressively write some calls to get away from full size (and lock in some profit) and aim for better risk-reward on the other lots.
At this stage I would consider the whole campaign a little bit of a waste of time and more of an investment idea as part of a bigger portfolio, rather than part of a swing trading strategy (protect from 10% drawdown in market), but I will see it through until the end.
Back Account: +$47. Was curious to see how the FREE trade was done in commission given the number of shares and the tendency of Suretrader to overcharge on ECNs etc, so interesting to note. It seems I am on the $5 for 10,000 shares commission plan which is good to know, should I trade penny stocks again on the account.
No comments:
Post a Comment