Gross PnL: +$2990.
Net PnL: +$2805. Borrowing shares for KURA cost $132. Also racked up a lot of tickets/shares traded today. But it was well deserved. Provided liquidity on most trades.
Preparation: 8/10
Patience: 6/10
Risk-Reward: 6/10
Discipline: 8/10
Flexibility: 7/10
Greed: 7/10
Over-trading: 7/10
Really really solid day, super happy with most things. Big change from the prior day.
KURA was one that I decided to go above max size on the exact setup I wanted. I didn't borrow the additional shares premarket as I wanted to wait until the setup occurred before locking it in. If I intend to do this in the future, I will look to just take them out prior to open. Was a bit fiddly mucking around getting the borrows on the open.
Unlike when I traded ISNS the other day, I adjusted and stuck with KURA and literally doubled the profit on it by catching, and re-establishing position, and trading around it. Really good stuff!
There was plenty of opportunity today, and I definitely under-traded all the opportunity. But this was based on my plan from yesterday (of slowing down a little), so it's okay. Yesterday there was no opportunity and I over-traded it. Today there was plenty of opportunity and I under traded it.
Something I noticed about KURA today, that made me nervous; and just articulating it because I get quite big on these setups - thus need to understand every dynamic. After the morning volume occurred, and it was then sold into; it went super thin and had a massive pop on air. Need to bear in mind that there is ALWAYS this risk on these low float plays, and therefore it is VERY important to cover down some size when I have it (take a little profits to lock in risk), and to try and maintain some more "bullets" for a better price.
I have had a great week, so at this stage very important for me to finish the week on a high; and to avoid doing anything silly tomorrow. 5/5 (massive) positive days since I started back.
Mistakes:
(1) MPET was biggest mistake by far. Forced a trade so I could get into it... There was no trade there. An intended scalp turned into a relatively big loss.
(2) NUGT I narrowly missed my sell order. I should have been quicker selling into pop. Eventually when I sold it was getting ready for next upleg. Really good to catch a nice trend on this one today though.
(3) REN. I nailed a really nice short off the highs on the open. Very similar to PRGO the other day, in that I didn't take the profit because it was only 1/3 (despite being a big profit). Ended up turning it into a loss.
(4) RL was a trade2hold until a reason2sell. Sold because I couldn't be bothered with it, and thought I had a small position. Would have been another very easy $100.
(5) There was a slight hint of greed creeping into some trades where I was a little greedy with profit targets, and therefore missed rinse and repeats etc.
KURA:
BABA:
MPET:
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