Gross PnL: -$257.
Net PnL: -$318. $7 in borrow fees.
Disciplined day count: 13.
Bit of a lame day. Too many losing trades on same symbol. Patience for entry wasn't quite there either.
Was too focused on taking profits quickly. Although I did keep things tight on the losing side of things.
3 losing trades on JPM (before initial idea actually worked out but I missed it). 4 losing trades on AAOI (long) before catching a nice short that I covered too quickly.
Tried to keep things too tight on TSLA before idea actually worked out. If I had a wider stop-loss (combined with an entry where I was stopping) I would have had an enormous risk-reward trade on it.
Entries not good enough on:
(1) ADPT.
(2) DRYS.
(3) TSLA.
So I guess a bundle of small mistakes today.
Things to improve on:
- Mainly stop placing trades straight after getting stopped out. 2 losing trades on one idea max.
- Patient entries.
If you look the opportunity was there to make money today:
(1) DRYS should have made money.
(2) AAOI should have lost money on long side (perhaps a little less than I did) before making at least the same on short side.
(3) ADPT would have made the same amount, but would have been higher probability if I had waited for entry.
(4) JPM, marginal but certainly should have lost less money. Maybe if I didn't exhaust myself I would have eventually caught the move.
(5) NVDA. Offered a really nice reshort for another $50+
(6) TSLA better entry and stop placement would have caught a $100+ move.
Not saying all this to dwell, just the highlight the improvements.
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