8:00: Again, absolutely determined to have a positive day to lock it in and work on positive run. Therefore I will focus on the nail and bail for the day. Happy to hold 1/5th with a trailed stop-loss, but that's it. I am also happy to take an hour break and come back with tiny trades.
Also in the back of my mind is to find that really nice balance between no stubbornness, and playing my natural game of scaling in with wide stops.
8:52: Tried HTBX long in the premarket for a similar idea to ORPN yesterday which worked, but was difficult. It is only a bounce scalp, so goal is to sell on first pop and try and scale to create a good average. Is currently giving me as much grief as possible, very close to stopping out on full size, which will be an unfortunate start to the day.
Hindsight, I managed my scaling poorly, I should have been prepared for it to go below the secondary price - it is a trash stock after all.
Given the weakness I expect it to be a flop like ORPN yesterday and will scale short into pops above the secondary price (hopefully using some realised profit from the "scalp" long).
9:14: Feeling a little stressed out premarket as a result of the fight with HTBX. Going to have a quick 5 minute meditate, just to refresh mentally.
9:20: Not sure what I was expecting, but that was actually quite valuable. Short, sweet, and effective.
10:08: Somewhat of a mistake this morning on execution. When fighting an opening move be sure to focus on the good counter-trend entry, and get rid of risk quickly, rather than looking for the shorter term confirmation.
11:06: Has been a bit of a hard morning so far. Currently up around $300, and looking to trim down positions, trail stop-losses and take a break. There was a touch of stubbornness creeping in today on ADBE and HTBX, so will be good to reset and refine focus. Have some good potential trades lined up for the afternoon as well.
11:35: Went to take a break, but back briefly. Was just thinking that gold looks like an accumulation pattern so I probalby shouldn't leave the 1/4 I have on. Ended up flipping it to long 1/4. Nothing to get too extreme on, but it is a nice setup. Will just sell into the highs.
11:38: Think it's actually worth not taking a break here given ADBE proximity to $95. A roll of it, and break of corresponding uptrend will be a great short, and above it will be an excellent long. Remember careful on sizes, want to lock in profit for the day.
11:46: Looks like I shouldn't have taken NUGT long, or if I did I definitely should have provided liquidity on the trade and got it on a dip. Probably a sign of silliness, so I'm going to close the trade at entry and take off. That way when I come back I can look at it with fresh highs. It feels like it's right on a pivot point at the moment, lower and it can unwind, higher and it can squeeze to high of day or even higher.
12:27: Back. NUGT did go higher, but gold didn't, think gold is setting up for a washout, has no failed to close the gap. Started in a little short NUGT. Will add if gold gets below 1250, has had a small range so far today, but it is quad witching so that may not be a surprise (?). Missed a really nice long on MNK that I was staring at before I left. Was the long off support, had multiple chances to execute on it as well, oh well not worried.
VRX is somewhat reversing, only a small position, so happy to hold until it hits trailed stop-loss (slightly better than breakeven). Important to note that it could be an amazing short on a breakdown of this consolidation because it actually looks like it could be reversing - but most likely closes near the lows.
ADBE, sellers are still in control, got a cover at $94.00 while away, and added that back @ 94.40 because the downtrend is holding. Still looking for the long into the low of day, but will ride some short until then as well.
Now that it has consolidated MNK will be a great short if it gets below the support. So good that am willing to take a starter counter-trend.
12:34: When entering the starter counter trend on MNK I nearly entered a half size instead. I really want to avoid doing this because I want to keep losses limited at this stage of the day.
12:35: Just thinking about my train of thought on ADBE. I am really happy with the conclusion I came to eventually, and really need to program that step of logic into my brain. Will do a playbook review on the short at some point over the weekend.
12:37: VTAE Looks to be breaking trend, I got stopped on short earlier, but this is something I could really sink my teeth into if continues to break uptrend. Want confirmation before adding lower though because it is technically still in an uptrend.
12:46: Just thinking back about ADBE short into $95. It's that moment where you start getting excited about the break, that you gotta think everyone else is doing the same, so why think like everyone else.
Have got a cover in for NUGT. Will pull the cover if gold rolls with it, otherwise will just assume range day and happy to cover the starter on a dip.
12:50: Added to MNK (still counter-trend) on VRX failing to get above $28 and cleanly rolling. Stop-loss still the same.
Almost immediately ticked higher and stopped. Ahh well. Will revisit if it gets below 51.20.
12:54: Trying to decide if it's worth closing up everything and calling it. From what I can see, ideas that may be worth stick around for are: long ADBE off lows, short VTAE on roll, short NUGT if gold breaks, short VRX for continued trend movement. Assessing everything, there's no monster move to catch there, so calling it a day.
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