Monday, 22 February 2016
Trading Review: 02-22-2016
Main Account: +$325.
Pretty solid day overall. Started off with not much to focus on. Out of the open the only two really good ideas I had were long RDUS, and long VRX. VRX didn't work and missed RDUS because it started working premarket.
RDUS ended up setting up as a short but was a bit too illiquid to really sink size into, so ended up about 1/2 size. Was a really well managed trade though, only added once it showed the top.
VRX was dead wrong. Had 3 trades on it, one was a really nice trade on a washout, but then ruined the trade by adding back right as it was testing vwap. I nailed the "buy the washout" trade, but basically hung around too long for the "trend reversal" trade. If I had traded VRX from the short side I would have nailed it, was a perfect failure around g/r with massive follow through and then failed perfectly at vwap and offered nice risk-reward... Then to top it off offered a nice trend trade when it broke below the low of the day (although I was done at that point).
NUGT incredible read on it today. Didn't quite fall back after it squeezed out. Was a massive gap down and gold was down $20, but NUGT squeezed up to the r/g line. This was roughly the short term top. Was still somewhat impatient getting size on, could have had half entered at 30-50c better price with more patience... But still pretty good overall.
LL was the trade of the day. This was sort of like VRX, I got long on the washout (and was stopped at low), but then it setup for the reversal trade, and I bid for some size on a dip after the break above vwap and rode until the hod. A really nicely executed trade.
FB. Was bidding for size risking 30c and would have caught a $1.50 move, unfortunately missed bid and only chased a starter. It happens. Similar with NFLX but didn't take it with full size.
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