Day-Trading: +$301. 5/5 positive days in a row, time to increase max size by 10%. Very happy with that!!! So max sizes are now: And max drawdown is $660.
$1-$10: 550 shares.
$10-$20: 440 shares.
$20-$50: 330 shares.
$50-$120: 220 shares.
$120-$200: 110 shares.
$200+ 55 shares.
It's a marginal increase. However, if I have two positive days in a row from here I can increase it by 10% again, so can quickly progress if I continue to trade well.
EW - Fought this on the open. Made quite a few mistake on it overall. Didn't take a relatively obvious stop over $103 (before move to 104.50). I was only 1/2 size though, which it the reason why. Got an excellent cover when it came back into support at $102. But sort of failed to realise that if it held $102 (resistance from premarket) it would still be super strong - so I added short on a pop - then ended up taking a good stop.
Went to scalp against the high, but given the fierceness of the upmove, this probablt wasn't the play - or if it was the play then I needed to focus on getting a super good entry and covering risk quickly, which I didn't do.
Finally caught it long and made quite a bit on that which was good. Wasn't paying attention and didn't stop the remaining 1/3 on trend break, so gave back about $80 on that.
UGAZ - Shorted into the opening parabolic, got 2/5s and just hung onto it and covered into down move. Didn't add until it was below vwap, which I'm quite happy about. Wasn't working as quickly as I would have liked so ended up covering - was pretty concerned that it would reclaim vwap (but I had risk already covered so maybe should have just held). It ended up having a monster unwind!
TSLA- Frustration of the day. The retest, and subsequent short term break below threw me off long bias. Which I believe it the correct conclusion to draw (it even vwap stuffed prior to fake breakdown). But revisiting the long as it reclaimed and then got back over vwap would have been a good move.
Also if I had locked in a little on the vwap test I may have been more willing to do this.
SKYS - Really nice long on a crowded short that was pretending to breakdown. Should have come back to the idea, had plenty more to catch on the long side, but I was concered because it's day 3.
NUGT - NUGT did eventually unwind a little into the close, but I just can't get a solid trade off on it. The volatility has substantially dropped, which I think is throwing me off. Usually the drop in volatility is indicative that a big unwind is coming (over multiple days, so I might look to pickup a put spread). Got an extremely solid entry today though on a fake move that gold didn't follow (similar to the other day when I didn't stop because gold didn't follow). But only ended up realising about 1.5R on that trade.
ALK- Wrong bias, nothing you can do about that, still happy with thought process. Losses I had on it were a bit too big (should have defined risk tighter) as I got a super nice long off support on full size, so I should have made more money on net trading it.
Swing Trades: -$150. Note that the SUNE profit should be around -$365, but because of what the last traded price was at versus the SUNE close there's a misalignment.
Sold SUNE on the strength in premarket. It's a sign of my current really solid psychology that I was happy to sell based on the chart, rather than my shitty average price. Really good stuff. Was a good sale around 30c! On net lost about 10-12c on 2000 shares, which is a loss of $240, which isn't too bad all things considered.
AVXL obviously testing me at the moment - this is why I wanted to lower the size of the position to 4 options. Still not too worried. If it gets high enough I will short $7.50 call options. Will be looking for it to get quite high for me to do that though - don't want to get caught in a squeeze at max size.
MNKD trade is working, options keep going against me lol.. That's fine, highly likely to expire worthless. Happy to re-establish the trade against once they expire worthless. Seems crazy to me that the weeklies for $2 trade at 50c.
TSLA - something to learn about I still got pretty slaughtered by entering the trade around the open - despite allowing for it. For the future, I will piece in over multiple prices as the IV seems to change heavily through the day. Also definitely an edge in providing liquidity into down-moves. A really nice trade and was looking perfect until the after-hours when TSLA got crushed. Won't make the mistake I made with NFLX which was selling on first down day. It's a swing, and I used defined risk options for a reason!
GBSN -- WOW! I added 100 shares at what I thought was a chase, then realised it wasn't a chase and tried to add another 200 to max size. Unfortunately didn't get a fill and it came off into the close. Will still try and add to full size, this is all confirmation of trade thesis. Likely takes about 2 weeks to get back to sub $1.
No comments:
Post a Comment