This week trades are from the following tickers:
AMD, FCSC, MBIO, RWLK, UXIN
4-15-2019 Trading Day
FCSC – Great trade here easy to identify and back to my usual trades here. I am getting into the zone and understanding what that zone is helped me on the trade. there was a breakout trade. Traded in the direction of the gap and it continue to move in that direction. That is the move that I took part of. took two trades on the position. I was expecting more continuation on the trade but it didn’t happen.
Easy lesson here: do not hesitate when making the trade. Make the trade based on your analysis and watch the exits to keep losses at a minimum.n Great execution on the trade, took the profits that I needed to take which was good. These are the types of trades that I need to take advantage of and make all the time.
4-16-2019 Trading Day
Traded two stocks this day:
AMD – Has been moving all over the place and it definitely makes for a good candidate to target on the long and short side. The patterns are easily recognized. I like trading stocks that are a bit on the thicker side regarding float. The patterns are more defined and come to resolution better.
RWLK – Another breakout trade that didn’t
I need to get out when the trade starts to go against me immediately no reason to take a larger loss than necessary. Losses are a necessary part of this business which I need to be impartial to the loss or the gain and focus on the reason why I am in the trade.
Another trading day in the books. I was trying to buy the breakout a few times and didn’t get it. UXIN closed near the highs. I took 4 stabs at the long trade and none of them worked out. Closed the day down. I need to start tightening up on my entries and where I enter.
I need to develop a better framework in which I can put a ticker through if it makes it to the end then I take the trade if not there is no trade to take.
MBIO – This was a good trade here. I should have held longer. I took the short side on the trade and made a few trades to end the day up pretty good. I got up late this day, but still made the trade happen.
I need to make sure that I am holding the trades that are profitable for a longer period of time and not taking quick profits. This trade could have definitely been a larger win for me but I was taking profits too quickly basically going in and out racking up the commissions on the trade. I need to hold until the ticker gives me a reason to sell the stock.
No trades on Friday – Good Friday. More lessons to learn and go over. Definitely not a good week for me. The losses are still there and I am still have an issue picking my points that I need to get in an out. I’ve cut out the holding and hoping so that is good. Other than that, I need to tighten up on the entry and let my winners continue to run.