Chapter 1 Trading Journal #1 - 01/04/2019 +$33
$FLKS Got long biased here. Got in with the first half, added the second half, as soon as I saw stock moves in my favor. Got stopped out here.
Lesson learned: I need to use proper stops or don’t take a trade — here the stop was 0.49 cents
$FLKS As soon as I saw volume spikes up. with no follow through I got short at 0.65 cents, my stop was above PM HOD. There was one more push ans then stock slowly sold off.
Lesson Learned: I should have sold half at the panic candle (12:30) at 0.52 cents, instead of covering at 057 cents
$DBVT I did morning prep on this stock. Basically, they have cash, no warrants or whatever, since like they fully executed their offering of $150M in March. The market wasn’t shocked by this offering as well. The only thing was FDA rejection in December that made this stock to sell off from $15 to $5. To sum it up, this one seemed to be a real company, although with a questionable future long term. It was day 4 since it’s gapped up, so I assumed there might be a bunch of shorts who would stock in squeeze and got long.
Sold half at range resistance, the other half by accident — otherwise, I would have been stopped out.
$WATT I missed the main move of this stock right on the open. The stock was squeezing for 2 days in a row, and Shares Interest was above 30%, Technically this was an uptrend, so I waited for the first correction and got in the consolidation zone. Sold a little bit too early on 80ish.
The second trade on it was when I saw that stock can’t hold above 84 cents and I got in it using the top of the candle as my stop ( my plan was it rips higher, I stop out right away and re short in7s ) Eventually, I got stopped out, re shorted and covered into the close for 6 cents gain.
$CCCL Trade 1 — I was expecting a push higher to 90ish — so I got long — stopped out.
Trade 2- It was at around 15:15 no follow-through in regards to the push higher I was expecting, so I got in with stop at 76 cents (if it rips up). Covered into the close.
Overall review:
I was patient with my entries and was trying to add only if in the money. Didn’t take a couple of trades because they were far away from a stop I had to have, in general, It helped to stay away from trouble.
Read next: Chapter 1 Trading Journal #2–01/07/2019 -$29
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