Gross PnL: +$6191.
Net PnL: +$5943. $207 in borrow fees.
Preparation: 8/10
Patience: 6/10
Risk-Reward: 7/10
Discipline: 6/10
Flexibility: 7/10
Greed: 5/10
Over-trading: 7/10
Pretty solid day overall, with some smaller mistakes - but overall can't complain too much. Came into the day with the mindset of not pushing things too hard because it was really important for me to lock in a good week. But that I was willing to take a big trade if it fitted into my niche setups. And I executed on the plan, EGLE didn't pop up until post 10:30am, and I waited patiently for it to setup correctly.
This is really good because when things are going well, have a tendency to go all over the place - but kept it well refined.
One mistake that I think was quite a big mistake was on EGLE when it pulled back to vwap the second time, and I was looking for the washout through vwap. There was a big bid around that level, it got tested, then small bounce, then got tested again. When the bid got filled the stock washed out and immediately reclaimed. I should have covered half immediately. Usually I wouldn't think this was a big mistake, because it's a marginal tape reading error. However, in this case the stock has held vwap (so trend still in tact), AND it was just sooooo obvious compared to what it usually would be.
A few side notes about the day/small mistakes were:
(1) I anticipated $11.50 to be the level to trade around on EGLE, I should have focused on getting entry really close to that level, rather than waiting too long for confirmation.
(2) Didn't cover enough EGLE into first pull, which which have covered risk decently, and allowed for rinse and repeat. Basically was too greedy when stock was still within uptrend.
(3) EGLE held vwap for first wee bit. A stock that setups up for another leg long (as EGLE did) behaved exactly like this, and I wasn't appropriately prepared for the scenario.
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