Gross PnL: +$5654.
Net PnL: +$5394. Few borrows fees. Unfortunately stock became easy to borrow after I had already paid for borrows. But it happens.
Preparation: 8/10
Patience: 6/10
Risk-Reward: 7/10
Discipline: 6/10
Flexibility: 7/10
Greed: 6/10
Over-trading: 6/10
Monster day. Although the large size on AERI was premeditated (and therefore as part of my system allowed), I did allow a bit bigger than I usually would - figured I would give myself a shot at making back some money that I lost yesterday - I did not expect to make it all back and then some (just pointing out I had realistic expectations).
Overall, I felt I had a pretty good mindset. Was laser focused on AERI all day - which perhaps wasn't the best thing because I did miss a little bit of opportunity. Plus when you laser focus something, there is a slight tendency to over-trade it.
Massive, massive mistake for the day was having too strong bias on AERI. Being a real stock (rather than a low float) I should have been prepared for retests of levels. Referring to the add to a winner trades just after the open. Had I been shorting over the range $33.20-$34, instead of all around $33.30 I would have had a much better risk-reward trade, and been able lock in some more risk into the result pulls and retests.
Other relatively big mistake was being so biased that I wanted to scale out over too wide a price range. On the pull after the open I should have been down to 1/3 - to allow for re-shorting when all unrealised pnl has diminished. This in part comes down to being too biased.
Finally, I am a bit gutted I didn't get back to max size into that vwap push around midday. I covered when I probably should have been adding. In part, this probably comes down to the stock giving me too much trouble in the morning - but it was the best opportunity of the day. I had orders in to scale into a vwap fakeout instead. Probably the biggest thing to realise here is that cleanest opportunity will come post 10:30-11, so it was actually the best opportunity of the day.
To sum up: I traded it very well, in terms of execution of my view. However, my perception of the stock was slightly off. Thankfully this is not usually a problem, so I'm okay with it.
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