Gross PnL: +$2446.
Net PnL: +$2304.
Preparation: 7/10
Patience: 8/10
Risk-Reward: 6/10
Discipline: 7/10
Flexibility: 7/10
Greed: 8/10
Over-trading: 7/10
Pretty solid day, can't really complain too much. EGLE was just a continuation trade of the prior day because it gave a nice gap up. Wasn't a big size trade, but did capture quite a big move on full size.
Marginally unhappy with the rest of the trades, but I can't put my finger on exactly what it was that I didn't like - clearly I gave myself good scores for all the things I'm interested in. I spent a decent proportion of the day over/under break even (if you exclude EGLE), which isn't really a position I want to be in. Feel like my trading behaviour was that of an "inconsistent" trader. Listing the (very small) mistakes may help identify:
(1) MCUR: Bagheld a very small long position for most of morning, while I ditched it at a good stop-out point, the best action would have been to get short. Which I actually thought about doing, but didn't.
(2) MYL: Really happy with how I traded it, especially realising when my thesis was slowly being proven wrong and ditching half into a pop. However, maybe I should have stuck with the idea when price began to confirm again?
(3) NUGT: I bought full size on the breakout (which was a minor breakout, hadn't even had a m15 mini pullback), accidentally bought a little over full size, which I didn't immediately sell. While I never stopped, I was close to it. "Best" action would have been to get a starter on the breakout, then long dips against vwap, and finally add to full size on the eventual breakout (after confirmed pullback that held).
(4) NYMX: I went to half size too quick. Great entry going from half size to full size, but first entry should have been 1/4 with a bit more lower, just to mitigate the risk of bottom fishing.
(5) SPU: Needed a little more conviction in the idea, to either revisit the long, or to build position slowly (in no rush).
Overall I was very disciplined and had some good stop-outs. I think a day that didn't present much opportunity (and I was somewhat wrong on the direction that I chose to trade in for some), probably adds to the feeling.
Additionally, I probably didn't scale my orders enough. E.G. If SPU had been a bit smaller (like MCUR was, and like NYMX should have been) I probably wouldn't have stopped. I got this right on VRX and MYL.
Looking through the minor mistakes, correct scaling would potentially solve 3 of the 5 there, so kinda makes sense.
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