Chapter 2 Trading journal #83 — 05/08/2019 +$10
Trading overview:
Tough day for me. A day of missed opportunities. I did not take the entries I was watching closely, just because I did not want to rush in and I wanted to give a stock time to set up. And all the adds I took, all reversed against me.
The biggest flaw I had today — I did not hold. I was covering for 1:2 or 1:3 risk-reward, but I was missing out on so much more. Tomorrow I will be fucking holding. Yesterday I got into the chop and was super concentrated on the entries.
- Hold
BURG +$27
#1 when it broke low and reclaimed it in the end — I should have gotten out for the half I had left — just to lock in all the gains.
ATAI +$15
55 was soaking — but the spread would open up and don’t give me any fills. So I hit the bid.
I Allowed myself to get shaken out and missed the real move.
AKRX +$10
They flushed 70K offer — so I basically doubled up in 42s — thinking it will go down now. Instead, the offer was canceled, and VWAP was holding — so I got out for what I had left. Missed the main move
$SUNW +$6
First entry — volume was not there. It did only 200K shares, so I took a starter against 97 level from Yesterday. after the move — no one was hitting the offers — so I decided to re-add — And got stopped out immediately — spread opened up to 7 cents.
$MBRX +$1
Flipped down — I was sitting on Exchanges trying to cover, as soon as it flipped up — I tried to cover on the bid again — nope — got out on the mids.
WKHS -$22
The stock per se is outside of my playbook — what I’m noticing recently — the stocks that are not low floats a lot of times have different algos I’m not used to. Perhaps the better idea would have been to paper trade it.
ATIS -$28
The first entry was complete of the tape — it felt as 50s were holding. Should have been an avoid for me. Although risk/reward was there — the probability of going in my favor was not in place.
Was setting up as a MATA. The only two setups at this point were either to get short against and as close as possible to $2.90 or use a tight stop at the 2.63 area.
Read next: Chapter 2 Trading journal #84–05/09/2019 -$48
Read main Chapter 2. “Peter, you have to start putting green days on”
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