Net PnL: +$93.
PnL Chart:
Step in the right direction today... But I traded terribly! Not the same mistakes as yesterday, but arguably a worse trading day.
Really nice to iron out these mistakes when my size commitments are low. This really reinforces my idea that I need to do at least until the end of the month on the small size, with $100 target.
What happened today?
I had some okay ideas; nothing concrete and needed to let some things setup. Then ETRM came out with their offering price, significantly below current market price. So I shorted it on max size on the hypothesis that it should trade down to the offering price. Had no clear plan; and therefore no stop. Ended up holding it through a squeeze.
JAZZ was actually a reasonably executed idea; I simply didn't have good enough entry prices. And was slightly slow on getting on stop in. Patience needed working on for this trade. Overall one thing is obvious - I need to be more careful on stocks with big range. I can't do less than 100 shares - so in the case of JAZZ each of the two losses were too big - therefore I need to be prepared to miss those trades OR get a perfect low risk entry.
Was down quite a lot over max loss at peak.
Today after the losses and was thinking hopeful on ETRM after I left the house; was thinking about how there's plenty of opportunity. While also knowing that only need to nail a couple of trades and can miss plenty each day to hit target. It reminded me of how I seem to trade a lot better when on a consistent streak. It's kind of funny how I have been struggling to follow the basics since starting back - despite constantly talking about them to someone I know learning to trade.
On that note: After today's winning day (despite terrible trading); I expect I will find it easier to practice proper trading tomorrow.
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