Gross PnL: +$543.
Net PnL: +$348.
Preparation: 7/10
Patience: 6/10
Risk-Reward: 6/10
Discipline: 8/10
Flexibility: 7/10
Greed: 6/10
Over-trading: 7/10
Real rough day, was dead wrong on two of my central ideas. If I hadn't taken my stops I would have got crushed - I think I was down $400-$600, which isn't much. Without really solid execution (scalping around covering risk), and taking losses when required it would have been a lot more! So really happy with that.
One moment of brilliance today was stopping myself out of a NUGT long, that had just had a fakeout around vwap. Somewhat ironic, because biggest mistake of the day was the entry on that same trade (went full size straight away).
Happy enough with NYMX trade (as a focus on getting those easy grinder trades). Not happy that I was slow to it though. The big opportunity was on the $4 stuff, not the afternoon grind that I traded. But good to get in this type of trade, because last week I would have missed it.
Overall I was a bit slow, and not aggressively enough getting into the trends for the day. Part of this was my conviction that we wouldn't have a third trend day in a row. And the other part was that I was somewhat licking my wounds from the morning, so was slightly less aggressive on entries. It's okay, I'm happy enough.
Big lesson for the day was on ACIA. I had a great short entry, and covered half as plan dictated - aiming to hold half for a decent move. This half drew-down back to breakeven, after being up a substantial amount - to the exact spot where I would have loved to add back. But I wasn't really in the position to add back because of the draw-down I just had. I need to be getting down to only 1/4 position, when I am holding for bigger moves. This is because my style of trading suggests that I should be aggressively adding on smaller sized unfavourable price action. So locking in more than I currently do protects me from going red on the position if I add back.
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