Main Account: +$180.
Back Account: -$1235.
Bit of a crazy day. Probably the biggest regret was not having a solid trade plan for WTW. Because I didn't have access to shorts on main account I traded it somewhat in-perfectly. I need to come up with a generalised strategy for scenario's like that. A good rule would be that if I need to have the order resting for longer than 5 minutes to get a fill then I probably should just swing the position with wide risk and take a drawdown but also have a big target. Is day 3 on WTW tomorrow so will be ready to put the hammer down. Now without a doubt comes the swing position.
Ultimately on main account I ended up running the WTW with a swing target and an intraday risk; which resulted in me not taking profit where I should have, and then stopping out at a place not consistent with my target. I stopped the short WTW out for about a loss of ($400ish?) where I was up about that at support when it hadn't cracked (aka the perfect zone to cover down some size if trading with intraday perspective). Then I switched to long with too much size and was topped (but that was just a bad trade).
TSLA was an absolute gift which I couldn't have traded better. Am getting a lot better at trading these breaking news trades in the middle of the day. Was risking about $50-$100 and added appropriately with profit locked in and caught a really nice washout.
Overall I traded ERII pretty well. Definitely did a better job of picking prices and as a result the stop outs (which there were a couple of) were a lot less significant. However, there was one mistake which resulted in drawing down main account from about +$400 to +$50, and another one which drew it down from about +500 to -200ish, so certainly could have been better. I also didn't quite have the right read on it. Hindsight it does seem somewhat obvious, but the news was "real" rather than the crappy news that these big gappers usually have; and I thought (still think correctly so) that the news was worth a 100% move. Will do a few trade reviews on this because there were a couple of trades that need to internalise.
Overall a general comment is that probably had a bit too much focus on ERII/WTW. Although they did provide a lot of opportunity. Missed a nice NUGT trade again, and YUM the same trade idea began working again after I stopped on first one.
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