Two trades today, nothing to be too excited about. I traded CVS and KNDI. CVS was down huge on the day and KNDI was up huge on the day. Two different types of plays and it will allow me to get on both sides of the trade when I need to.
KNDI – I was anticipating the breakout here and trying to get on the right side of the trade. I traded a bit longer than I usually do to trade in the morning knowing that KNDI is a former runner and has the potential to make huge runs very very quickly. It didn’t happen right away so I got out immediately
Great historical chart here for reference but it didn’t move as expected. If it goes up on news another day I will be looking for the same type of trade here. Looking for the massive breakout.
KNDI – two trades loss of $91.
CVS was another trade that was on the run to the downside. This is the one trade that I like to short here. What I have learned is that I cannot short this type of trade here and I should be looking for what the ticker is telling me what is going on before I develop a bias in the trade. One thing that I noticed with these types of trades is that there is a defined direction for this type of trade. Either it will start off down huge on the day and recover everything making higher highs and higher lows or have an initial bounce and fade off the rest of the day. These are the two type of patterns that I need to look for.
This is one example that I should have traded initially to the upside but the pattern is not clear and then it faded off through the rest of the day. Small profits here on the trade because of the size that I was trading here. This is the type of trade that I need to watch on a shorter time frame to allow me more time to better analyze the trade.
Another good day here in terms of understanding what is going on with the trading scene and breaking through my chops to go on to making the type of money that the markets can offer on a daily, monthly and yearly basis.
All in all. Learning and Earning. Keep it coming.