Gross PnL: -$2240.
Net PnL: -$2405.
Preparation: 6/10
Patience: 5/10
Risk-Reward: 5/10
Discipline: 5/10
Flexibility: 6/10
Greed: 5/10
Over-trading: 6/10
Bit of a disappointing day. GBSN should have been a net profitable trade (instead of two losers), and I traded WATT incorrectly. In terms of a "bad day" it wasn't too bad - lapses of patience or whatever weren't as significant as they could have been, so certainly a step in the right direction.
It is worth noting that I felt tempted to break rules and go over max size on WATT but I opted not to. Really happy about this.
Mistakes:
(1) The first purchases of GBSN were obviously a big mistake. I had been looking to scale in on that first washout. When I missed it I looked for it to hold higher - this always seems to be a mistake for me. Although a decent loss (think it was around $600 loser), I kept size relatively small on it, and took a good stop-out.
(2) Second trade on GBSN I did a great job of. Perfect sales, and pretty good entries. Also really good patience sizing in after the volatility halt. However, mistake arose when I added back. Should have been adding against the lows, so by adding where I did I was forced to stop where I was. This ruined a otherwise great trade. Little bit of greed, fomo, and impatience showing up here. Had I been patience for the good entry it would have been a great winner.
Remember when trading below vwap should always be looking to add against the low. If looking for a trend type trade higher.
(3) WATT was a marginal lapse of discipline, but also a fail of "trading idea". I didn't take a stop quite as early as I should have. However, the big mistake was in my whole idea of trading it. Had planned to short it on pops, and if it got up to yesterdays high I was prepared to go 2x max size (pre-meditated, so fine with that). However, the way it worked out was that when original trade didn't work out I was adding to a loser - especially when I narrowly missed the cover on the first pullback. The fill around 10:10 was for like 50 shares...
(4) When the trendline broke on WATT I added back what I had covered. Should have tried for a really good entry on adds (when above vwap should be shorting against the high).
(5) Stop-out on WATT. I only took off half. I also gave it too much. Actual stop-out should have been 20-30c earlier. This equates to about $400 savings (assuming I had taken the full stop-out). Reshorting once trend was broken, against the high would have easily made back what I lost - even though it only pulled into vwap.
Overall they were quite difficult trades that required perfect execution. However, I should have perfect execution - so I'm not happy about it - but certainly the stocks didn't behave too well.
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