Gross PnL: +$1005.
Net PnL: +$961.
Preparation: 6/10
Patience: 6/10
Risk-Reward: 7/10
Discipline: 5/10
Flexibility: 6/10
Greed: 6/10
Over-trading: 6/10
Crazy day really. Over-traded for the most part. Had poor entries, and added quite a bit to losers (not without a plan, but still not good the level that I did it).
On the flip side, not many of my trade ideas worked very well - so nice to come away with such a decent profit on a hard day.
Was down $100-$300 for most of the morning then suddenly everything seemed to start working, kinda weird.
The absolute best thing I did today was that most of my winners are pretty big in magnitude. If I hadn't got lucky on a few, the decent size of the winners would have carried through and made it a positive day.
Mistakes:
(1) EXAS: Patience/FOMO/Risk-Reward. Was far too hasty to get on my starter position. Having narrowly missed it for the past 2 days, I lowered my expectation on how good I wanted the dip to be. Started in far too early due to fomo. If it weren't for this it would have been a relatively stress-free trade (and certainly a lot more profitable).
(2) EXAS: Got a tiny bit greedy on the mid morning pop. I adjusted my sell order for half from 19.09 to 19.19. Ultimately this cost me quite a bit because it provided a good opportunity to rinse and repeat. The reason this was a big mistake is in part due to the first problem, there is no point being greedy on a position with a bad average - risk is so much higher.
(3) HRTX: Flexibility. I was marginally too slow to adjust my bias to short, thus missed a decent down move (and potentially lost a little more on long than I should have). Also, I didn't actively look for the short after the open. Was a clean trade.
(4) NUGT: Discipline. A little bit of hope creeped in on the long scalp against lows. I held it about $1 longer than I should have, which cost me an extra $150.
(5) PRGO: Greed and Discipline. This wasn't too bad, but could have been quite a big trade, given that I nailed the levels. Didn't take profit on the original short (because it was only 1/3), but it was a really big profit; about $2 per share. Then didn't take the stop when it got over that level.
(6) SAEX: Original entry wasn't big enough, which meant that I couldn't sell any into pop to cover risk. A very minor mistake.
In general, I am slipping away from the "nail and bail" mindset. And am slipping away from the "it's okay to miss it" mindset. Then I am slipping into the "add to a loser" mindset. Not a step in the right direction.
EXAS:
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