AMD, ATAI, CERN, AMD, INPX, SFET, FTFT, GLG, CTRM, KTOV, PHUN
AMD – AMD gapped down on the day and it started to retrace upwards. I was looking for AMD to start going in the direction of the gap. I waited for it to go in the direction and started to get short. AMD is definitely a ticker that I can be traded more often because of how it moves even with the float currently outstanding.
I need to make sure that I am trading things that are in the news only and make sure that I continue to be patient with what I am trading going forward. My win streak is good so far and now I need to continue to manage risk when trading as to not get into a huge draw-down position.
ATAI – This was not easy to trade as the morning session didn’t offer any substantial pullbacks on the 1 minute time frame or the 5 minute time frame. I got in and out very quickly on the trade as it wasn’t the best setup for me to trade here. I made some money but got out of the trade immediately. follow through has been an issue on this trade. The tape on this one wasn’t that tricky and I didn’t see many walls at whole and half dollar numbers.
CERN – CERN was up on news but the beginning of the day the tape started to trade higher but it was unsustainable. After it sold off, I waited on the retracement that was happening before I set my risk on the trade and entered the position. I didn’t take advantage of the trade as I should have. I got out of my full position after it broke through a whole number with the expectation that it may bounce. It didn’t bounce and continued to move down another two points before a larger retracement happened. I missed out on the two points that I should have had. I need to be more comfortable in taking these positions and holding them for a longer period of time.
Another good day here. I watched an waited on the trade and what I expected to happen happened. I need to start sizing in with more size to take advantage of the moves more that are currently happening. These stocks are moving sharply 15 to 30 cents almost immediately. the follow through on the trades has been minimal. I would be looking for more follow through going forward as that is where the bulk of the money to be made will be. I need to shoot for starting with a smaller position and adding after a pullback into full size for the position to take advantage of the larger move.
AMD, ATAI, INPX SFET
AMD – Gapped up in the morning. Shorted into the 1st pullback after the run up. I wanted to wait on the pullback, I should have held longer on this trade but it didn’t happen. Small loss here.
ATAI – Small gap up. ATAI has been in play the last couple of days and trading this would have been good. I missed the trade in the afternoon where ATAI made its larger move. I
INPX – I took a small position on this trade as this was my initial trade here. I should have finished the with this one loss but I didn’t, I compounded the losses throughout the day. After the gap up, I was looking for continuation in the trade, and it didn’t happen. I didn’t have any shares to short there was no profit on the other end. The reason for entry on this trade was the gap up opportunity to go long in the direction of the gap and it didn’t prove out. I need to tighten my stops and identify them more concretely before entering in a trade.
SFET – This was the biggest loss so far this year. I should have gone after the initial break of the high and stopped chasing SFET higher. I missed the initial break higher. This should have definitely been a winner easily with the trade breaking over the then HOD. That was the only trade on this on the long side.
I need to make sure that I am getting out of the trades right when I need to. I cant wait for a rebound back to my levels. If it is not immeidate and I have on a decent amount of size I need to get out of the trade immediately. Which is what happened here. I let the trade go against me HOPING that I was going to be made whole with a rebound to the breakout level. Breakout or bail.
FTFT – Up on news, there was a huge fake out starting the day, definitely hard to trade. Starting to see no patterns and no follow through on breakouts. Most of these tickers are not short eligible with my current broker and I don’t want to pay for borrows. FTFT basically moved sideways all day and didn’t make large moves to the upside. I took long position on at the break out point and it failed immediately With the size I was trading a small move against me amounts to a decent size loss.
GLG another one that was a breakout contender. I started in right under the whole dollar and got a break out over. I sold a piece of it anticipating a small pullback and a move higher. That didn’t happen and I sold the rest for almost breakeven. The 1st trade was okay, the second trade is where I wiped away my profit on the trade and finished the day with a small loss.
The follow through that is not happening is a problem. I need to make sure that I am getting out of the trades at the right point and do not let them go against me at all. No wiggle room nothing. It needs to break out or bail out.
CTRM, KTOV, PHUN
CTRM – a choppy trade today that I couldn’t get a hold of. Large loss on this trade and it was not a pretty loss. I was up and immediately down and couldn’t recover. I definitely need to get tighter on my trades to make sure things are working the correct way.
KTOV – Couldn’t get the right entry for the breakout here. Was up and couldn’t recover. Went against me and I didn’t eliminate the position when I was suppose to.
PHUN – I was expecting a larger breakout on the trade and I got greedy and held too long. I should have taken a small position off and looked for another trade here which didn’t come.
This was a hard a week. Definitely the worst week, I have had in a while. I am having large losing days after 10 to 12 days of profitability. If i can eliminate this occurrence, my account will be headed in the right direction. I am still profitable but I just don’t like the large draws downs every month that I have. the one thing that needs to be done is taking off the position after it goes against me and tighten up my stop loss to limit the size of the loss and do not let the trade go from green to red take it off and move on. I can always get back in. This was definitely a hard week on my trading but also on my trading psychology.