Trading: 03-31-2016

8:31: Cold shower was really good this morning. Took a lot of motivation to do it, but left me feeling a weird mix of pumped and relaxed.

8:57: Wasn't too impressed with the meditate straight away. Was sleepy and didn't seem as good as prior days. But a few minutes after feel quite relaxed and focused.

9:22: Got some good ideas today. Focus will be on positioning for worst case scenario, then if something goes beyond not being stubborn just take the stop. Also focus on hitting stops when I know I should.
Max size for GNCA is 800 shares (slightly larger than normal) because I feel it is right within my wheelhouse and deserving of a bit of extra risk. Won't necessarily use it of course, and will only be if has a clean setup and stop.

9:32: Think that's it. Shorted GNCA 1/4 on opening pop then added to the 800 shares at the lows, came right back and nearly took out hard stop before straight back to lows.

9:34: RJETQ took the scenario that I didn't want, the gap down. So anyway I covered the 200 shares and am hoping for a squeeze-out and/or really nice fader setup to add to full size against high. Will have to wait until after open, and will need to be obvious. Unfortunately can't chase it with a stop at highs just yet because this may be a trap.

9:36: Reality is that here is the spot to pull covers on GNCA and hold it until trend changes. Am going to cover half on 10c increments, and hopefully hold half the position all day for a close at the lows.

9:42: Am a little nervous being short GNCA full size here. If I wasn't full size I would be trying to get full size on pops. The reason I am nervous is the reclaim after making a new low. Trade still 100% in tact. Still plan to cover every 10c until have 1/2 a position on.

9:45: Need a written reminder, that if today is the day RJETQ crumbles, it likely closes at the lows so I don't want to cover any too soon. This is especially the case because I have no size.

9:47: Just realised I've been looking at the wrong gold future (illiquid May instead of liquid June). I covered my NUGT and didn't add to position because gold wasn't confirming - turns out it was. Oh well. Pretty gutting though.

9:54: If GNCA doesn't stuff here quickly I will cover down most of position. This is a pretty typical situation where I may lean to getting stubborn. Therefore hard stop placed a few cents above where I consider reasonable to stop. As I write this quite slowly it's looking like it was a stuff.

9:56: Missed a great trade on short ENDP below key level. Should have had an alert in. Was actively watching VRX, but was just completely unprepared for the relative weakness.

10:00: Really solid bounce on RJETQ off 2.00 exactly. Very expected, but for now the risk is on me not fully capitalising on the move. Will look to add full size on vwap rejection, ideally around that 2.35/2.40 key level, then stop will be at high for full position. That equates to roughly a 1500 share position.

10:15: What a gift for GBSN shorts to become available when they did. Some short panicked out maybe? Anyway, am now setup perfectly to trade around a core for today and then swing a 200 share position to zero.

10:17: Currently up pretty massive for the day. Just over $1000 overall which gets broken down into roughly $300 on the swing and $700 day trading. Even with the NUGT that I missed. Haven't locked a huge amount of it in (locked in $370 of the $700 day-trades). Most of that is on GNCA, so still trying to cover down, and have a tight stop on the remaining 600 shares of the 800. It has been extremely difficult to cover, narrowly missing my bids each time and trading in 5-10c steps. May be an indication that despite the extremely steady downtrend it is prone to a reversal at some point.

10:34: Took the trailed stop on GNCA. Probably a stuff, but whatever.

10:37: Flipped long GNCA. Happy to take quick loss if wrong. Remember when flipping bias to do it incrementally, so that don't get chopped around like crazy.

10:43: PnL took a bit of a hit there on some moves against me. All minor, but need to monitor and make sure not leaving too much at risk. DO NOT want to turn this day around. Lock it in.

10:50: Added to full size on GNCA. It's not really confirming price action, but was risking less than 10c for a potential 50c move so whatever happens happens. Price action is not confirming the long though, there is a heavy seller that is not lifting despite buys. Is either really crowded on short side, or someone liquidating.