Gross PnL: +$1991.
Net PnL: +$1444.
Preparation: 7/10
Patience: 6/10
Risk-Reward: 6/10
Discipline: 6/10
Flexibility: 7/10
Greed: 4/10
Over-trading: 7/10
4/10 for psych score at 10:30. Low score because I saw some glimpses of opportunity and feel too aggressive.
I think doing this score paid off a little bit today, because it helped to realising that I was wrong on RGSE - and helped increase level of caution - which then resulted in me finishing off the day early. If I hadn't it could have easily turned out nasty!
INVT was the trade of the day I think. Correctly read that I need to start into the position into the up move. Then looked for a way to add while still being a little cautious. Real grinder type trade, no way of sizing into it completely, but also a clean setup for pretty much free money.
UVXY trade completely didn't work. Lucky to get out of it for roughly even. If I had stopped out at the bottom would have been roughly $400-$600 loss. Simply put, I made the final scale to full size too early. I could have done with making the middle add slightly smaller (therefore leaving room for final add to be larger). Could have also had a better price for the final add - UVXY was at premarket lows, but SPY wasn't.
Big miss on ARRY today. I was concerned about being too biased given how thick it trades and that it's a real company. I looked at the history of the stock after a big up day and saw that it was a range day/slight up day after that - so became too focused on that idea. Instead of recognising when it was down-trending and simply joining it.
Finally RGSE. Escaped cleanly, could have been very nasty. Was looking at someone else who traded it and it got them emotional, and they ended up trading very poorly (link below). This makes me feel better about the way I traded it because I had a bit of stubbornness creeping in, but eventually made the right call. The question is, would I have cut my losses correctly if it had made a new high with me still in a decent position size. I would like to think that I would have - but perhaps been a bit slow to do it. Overall, very happy though.
Put far too much size on RGSE. It was a great opportunity, but goal for this week has been to downscale a little and keep the psychological consistency. So while I think tomorrow there will be an amazing opportunity on RGSE (if it gaps up), I will trade it with 6000 shares max.
Side note: As I called it a day, I kept thinking to myself "okay I covered RGSE which is the correct decision, now why aren't I going long". This thought process turned out to be correct, but I didn't want to continue in my sub-optimal psych state.
http://bull-zone.com/0927-recap-on-rgse/
Flipping UVXY short would have been a great trade. But can't nail them all. Was too biased on it being a ranged day, and besides I was somewhat pre-occupied by RGSE.
No comments:
Post a Comment