$1200 today, it looks good on "paper", but I honestly didn't trade very well, all my gains came from scaling in and out for a few cents profit just with huge size, didn't really make any "great" trades.
I use wiring out as a way to control my BP and position sizing, and my account is just bigger than usual right now and a wire out that I sent in hadn't gone through yet. But as Nikko tells me, "wiring out is only a temporary solution to the problem, you need learn to control your emotions and position sizing on your own." I am still trying to work on that, but I am still sizing in insanely at times with no reason to. In the future, I want to look at a stock and say, "okay, my absolute max size on this stock will be "X" amount", and then work my adds/readds, and covers and sells around that idea of having a max size on that specific stock.
I was too greedy on MVIS, I sized in fairly big as I was fairly confident in the trade at the time and I was right at the moment, had 4k shares 3.35 average and it pulled to 3.26, I only covered 1k at 3.28. I readded 1k at 3.31 (lowered my average), and covered that add for breakeven, I still had 3k shares and it was grinding back up towards HOD. I readded more at terrible spots (it was still around my average the whole time and I was already in very big size), I had orders in 3.28-3.33 but it kept holding higher lows and I didn't cover any. I soon found myself with 9400 shares (way way too much) 3.377 average, the most I was ever down was 5 cents at HOD 4.43 (with the 100k ask), but that's still about $500, and if it kept going it would escalate very quickly, every 5 cents = $500. It came back down and I covered 5.4k 3.36-3.39 for basically breakeven and then covered the rest around 3.31 for a small profit. Trading it perfectly, I should have covered ALL at 3.26ish when it was still holding a higher low and basing and then reshorted 3.38-3.42 with a set risk at 4.43 and been patient with a winner.
AMRN, I wanted to short at the open but it washed out in the first minute, then bounced back up to 3.33 for the perfect entry but didn't take it, ended up scaling in and out long for just a few cents profit with not the best original entry.
Missed really great shorts on ANTH and AMPE today, I scaled in and out of ANTH long for small profits but I was in huge size again at one time (5300 shares), and it could have easily went down another 10 cents and I'd be looking at a $500+ loss, have to be more careful of my my position sizing, especially when trying to find the bottom on these red, all day fade, type stocks. Tried again in the last 15 minutes and took the 1 cent loss when it wasn't bouncing, had an order in at 3.77 to try again but changed it to 3.72 and missed it, and it did a mega bounce to 4.10 in the last 5 minutes (I probably would have sold for 5-10 cents anyways, did not expect that much).
FOR NEW READERS ONLY: If I am scaling in and out of a position, that is considered one trade until I am completely out of the position and then it becomes a new trade, that's why some trades have a lot of shares, even if I never had that much at once, if I cover half and then re-add my cover, it's still considered one trade until I am completely out. The entry is the average of the entries and the exit is the average of all the exits. The entries/exits are rounded to 2 decimal places, but the exact number is calculated for the PnL, so that's why the dollar amount may look different than what you see. (it may be 7.165 instead of 7.17, etc). Also, you can click on the charts if you want to make them bigger to be able to better see the entries/exits.
AMRN
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
3.03 |
3.06 |
6000 |
$0.04 |
$210.00 |
1.16% |
MVIS
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
2.89 |
2.92 |
500 |
$0.03 |
$15.00 |
1.04% |
| Short |
3.37 |
3.33 |
11400 |
$0.04 |
$422.50 |
1.19% |
- Lessons:
- Try to be more patient with an opening minute washout on a green chart, put your stop just below your entry and be patient, I had the perfect entry but sold for 3 cents because I thought it looked weak
- Always make sure to cover ALL when it's still basing and holding higher lows, it's still the front side of the move
- Once it starts to top out and make lower highs, can short with risk on HOD and be patient with a winner, slowly moving your stop down (it hits 3.30, move your stop to 3.35, etc.)
- Always make "smart adds and readds" and never have that much size at one time
INO
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short |
8.37 |
8.17 |
1000 |
$0.19 |
$193.78 |
2.30% |
ANTH
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
4.29 |
4.27 |
1000 |
-$0.02 |
-$20.00 |
-0.47% |
| Long |
4.12 |
4.16 |
7300 |
$0.04 |
$324.00 |
1.03% |
| Long |
3.91 |
3.90 |
1000 |
-$0.01 |
-$10.00 |
-0.26% |
- Lessons:
- Try to get better at joining the trend on these red, fading stocks, most of my shorts are always on the front side and I rarely get a big move like this (ANTH, ADMP, and NTLS are 3 "fade, fade, fade" charts just from today, I always see these type of charts but I hardly ever short them early on)
- Always be careful trying to find the bottom on these fading stocks and do not size in too big
LL
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short |
29.99 |
29.81 |
300 |
$0.18 |
$54.00 |
0.60% |
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