Gross PnL: -$667.
Net PnL: -$987. $164 in borrows.
Oh man what a terrible day. Could have been a monster that would replenish a tonne of psych capital. Bit all over the place; details below:
Started the day with the right mentality. Need to recoup psych capital. So at the top of my watchlist I wrote in capitals SMALL SIZE, REBUILD.
So I had a couple of shitty trades, where I had slightly wrong strategy but took stops and/or profits (as a side note: with more confidence these would have been good trades). Then came along ESPR, and I was comfortable with the setup - slowing piecing into it. For some reason I ended up pretty deep short ESPR. But I realised and covered down most size at breakeven, then just took the profit that would have been non-greedily at vwap. Thankfully I did because that was the low.
At this stage I realised I was trading poorly, so stepped away for half an hour. It hadn't been super bad, so seemed pretty easy to continue for the day. Just needed one or two mediocre trades that were clean.
Came back from break, completely misplayed NVIV getting too deep, and not fixing mistake when I realised... Got chopped around on TSLA (although happy enough with trades there). Then finally IMTE (which I had seen earlier but was too low volume and out of the blue?) started to offer some clean setups. Very obvious long to the moon at this stage, and a great scalper opportunity (although still illiquid so some caution required). Anyway nailed the clean trades and wasn't super greedy - was literally childs play.
One of those trades that I've been waiting for, for months... And I nailed it. Not to mention it would have been a great rebuild.
So naturally I took the next trade (SEII) which had shitty liquidity with big size and gave it all back. Completely retarded. Not to mention NVIV gave a nice exit and I didn't take it, ended up stopping on size on it.
So the lesson (and I already knew this, which is why the emphasis is on psych capital here). Even when the opportunity is a complete gift, if you're not trading well - will still fuck it up. My limitations at the present point are purely psychological, and so if I'm not on my game there is no point pushing boundaries too hard.
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