Gross PnL: +$227.
Net PnL: +$181 ($30 in borrow fees, HTGM was really expensive!).
Discipline day count: 2. Need 20 disciplined days in a row to consider increasing size. A disciplined day is considered to be a day where stop is always set with entry and where max size isn't exceeded.
Came across a slight issue today; which will need further consideration. Similar to how I can't set a profit target and a stop on stops that I am long and can't short; if I have a odd lot (e.g. 50 shares) I can't either. Obviously the stop takes priority; but as it gets close to target need to swap, and remember to swap back. Can create issues when the target is quite tight as well.
I think the solution will be to work out how to place OCO orders... But a quick google did not solve that, so will need to delve deeper.
Really happy with the day overall. Mistakes across the board... But again, keep trading like this and I am a consistently profitable trader.
A slept in this morning and wasn't prepared for the open. Luckily I knew exactly how I wanted to trade HTGM; so focused on that until I found time to prepare for other trades. Happy with this because I did the right thing, instead of forcing trades on a lack of preparation. It is a shame though because I probably would have caught a monster long on APOP (had spent all weekend thinking about how the climate was right to get long day 1 runners).
One other thing notable about today that I'm really happy with. I'm very clearly not in the right mind to be shorting size on my "conviction" setups, and under no circumstances am I going over max size. HTGM fell under this type of setup and I didn't take any additional size on it; so really happy there.
Minor mistakes for the day:
(1) Size of TSLA trade. In general the TSLA trade was marginal; purely because it's a stock that I shouldn't really be trading 100 shares on. I was only risking 40c (so around $60 with slippage) but it was an arbitrary stop to some extent. Risk-reward wise the trade worked out, at one point I was up $190; but then that being said that's probably too much.
(2) Was slow to stop on TSLA trade, was a clean loss of momentum prior to where I stopped out my trailer.
(3) GBR although I encountered slippage - it actually had a small bounce from where I should have been getting long. Dumb trade.
(4) Somewhat unlucky to get stopped at the high. That being said I need to allow some room on these types of trades, AND it is somewhat unexcusable not to revisit trade. Was a clear trend trade setup later.
(5) Finally on HTGM I opted not to take any profit into morning move. I am okay with this decision. Problem is: On any setup you can either trail stop quite aggressively, then be open to get back in or reduce position, maintain wide stop-loss and then be prepared to add back to position at good prices. In this case I did a weird mix - with a wide stop-loss (to try allow for fake-outs). So when I re-initated the position I was at risk of falling into that trap of entering, stopping, entering, stopping and losing a lot of money that way.
Any good day - and definitely progress forward.
YTD PnL Curve:
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