Trading Review: 10-04-2016

Gross PnL: +$4549.

Net PnL: +$4269.

Preparation:7/10
Patience:6/10
Risk-Reward:6/10
Discipline:6/10
Flexibility:7/10
Greed:6/10
Over-trading:6/10

7/10 psych rating at 10:30. Made some pretty good decisions to lower risk. Perhaps a little tilted from missing some big trades but whatever.

Bit of a frustrating day. Had 2 high conviction setups lined up (NVFY, NTNX), and a decent setup lined up (SMMT) but missed the high conviction setups which dropped too quickly - and both would have been monster trades. They didn't give good risk-reward entries (at least initially) so it's fine to miss them though. If they had behaved along with SMMT it could have easily been a 10k+ day which is kinda cool.

Something worth noting - a minor mistake in execution. Off the open I planned to trade SMMT with up to 1000 shares (this was later increased to 2000 when it behaved), and NVFY with 4000 shares, and NTNX with 500 shares.
I put a "starter" on SMMT of 300 shares at the opening price - which literally doesn't make sense for a few reasons: (1) I had higher conviction in NVFY/NTNX, I would have been comfortable being squeezed on a starter position. (2) SMMT was day 1, thus higher risk of spike and subsequent continued trend.
Starter should only be about 1/5th size, so 300 was too large - but overall point still stands.

As a side note: I would have hammered in short on NVFY on the pop at around 9:50am if it hadn't behaved so weirdly yesterday.

When trading NVFY I got faked out at a relative peak. My thought process at this point in time was that it was either the spot to add (and I did have more bullets), or the spot to stop-out. I think this was a mistake - stop should have been $4.60 above the morning pop. Being tired clouded my judgement, and think I would have been more aggressive if it weren't for yesterday.