Day-Trading: +$320. Looking back in hindsight, this is actually a very big drawdown from the peak profit for the day, which was +700ish. The size of drawdown was somewhat covered by swing positions working perhaps? About $200 of the draw-down comes from GBSN, so that's okay (strong conviction in short and difficulty to find shares), and about another $200 comes from GNCA which I'm not really happy with.
GBSN - Traded it like one of those low float stocks that fail on day 1 then get under vwap. Covered risk as soon as could, then reached for the stars. Happy with trade.
VRX - Had a really really nice scalp against the level. Didn't get an enormous fill so was forced to sell for pennies (about $40 on 100 shares). Note that on this long it did actually bounce $1.40 off the low, so could have caught a fair bit more!
Then I tried to load up on the break of the level (which was a relatively clean break). Mistake made here was that I didn't look after my average. The level was $25.94, so I needed to be prepared for a $26.20ish push, and that should have been the last add. Minor mistake, not too worried. After the reclaim of the low I could have revisited the long though as it bounce $1 - very tight risk.
NUGT - Depressing trade of the day, I had started in short at 63.50, it had a down-move and gold futures were confirming at all, so I covered at 62.50ish and looked to revisit. It turned out I was looking at the wrong future (May instead of June), and i probably would have added where I had covered. Oh well it happens, only a $5 move...
MNOV - Got a short at the high premarket ($8.40) covered into opening down-move at $7.90. Didn't revisit. Closed at $7.34. There was some liquidity issues with this one, but it was super super clean, and with proper focus probably could have nailed it!
LEU - Was just looking to join trend long. Eventually trend failed, so that's cool!
GNCA - I correctly decided to assign slightly more risk to this stock. However, I mistraded it. When I added to a winner on the open I added at the lows, and most of my size, ended up with poor average and nearly stopped. Had I been offering to get the size, would have had a much better, low risk trade. I flipped the trade to long, but was mismanaged, and I correctly identified that I was losing focus and should be done for the day. If I had hung around though, man what a monster trade if I had managed to catch it.
ACAD - Losing trade, but good management :)
MDVN - Was one that I was closely watching today, but didn't end up trading it. Just like GNCA this one ended up having a pretty monster trend that I could have caught. In this case I think I was too biased to recognise the potential of the monster long trade that may be setting up.
Swing-Trades: +$466. Caught the nice move on RJETQ. As planned I covered 200 shares quite early, so that I was prepared for any up move. Of course that up-move never came and it was difficult to get size on the trade. There was an opportunity in the mid to low $2.40s for full size, but didn't take it. Another example of not being particularly good at joining a trade when it's working. Full size would have allowed for better management into $2.00 as well! Trade confirmed that it's still working into the close, so want to trail stop-loss and hold until a reason2cover emerges. It should not breach $2.13 now. However, I will cover half into $1.70ish.
SUNE is currently within exercise range in after hours (after news of sub-poena received) with one day to go until contract expiration. I have decided that I don't want to be long on option exercise because it will screw up the SUNEQ trade once bankruptcy occurs and won't be able to assign as much risk to that swing long. So I will look to scalp on the short side tomorrow, short any pops over $0.50. Note that it is super important to counter-trend trade it - do not want to panic and chase it lower. The average will matter!! The goal is end the day with SUNE below 0.5000 and short 2000 shares with an average above 0.5000. Volatility has completely died down, so this shouldn't be a problem.
Will hopefully sell some $1 calls for next week tomorrow as well. The more built in profit I can build into this trade the better as then I will have the mental mindset to crush the SUNEQ long trade.
GBSN, counted this as a day-trade because it was. However am looking to swing remainder of position to zero. Need to be mindful that this could do a AEZS. It is as close to free money as you can get, but there is that worst case scenario. The squeeze into the close hopefully gives me a chance to revisit the short trade as a day-trade (if shares become available, like they weirdly did today).
As a side note on current swings. Want to focus on correct management of positions. Don't want to drawdown excessively on unrealised profit just because I have strong conviction, and therefore also need to make sure I'm actively taking profits etc. For example with GBSN am targeting $0.2 but covering half in the $2-$3 range and then the other half in the $1 range is perfect! Ideally even get some adds once trade confirmed!
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