Today, I was down $1467 at one point, and got back to -$268, so I guess I made back $1200 today, which is good, but it's better to not "have to dig yourself out of a hole". I was fighting with GENE today and yesterday and using way too much size, subconsciously trying to "make back" my 2k loss on ALTR on Friday. I need to control my overall position size much better, and be sizing down into dips, and be covering ALL or sizing WAY down when its just hanging around my average after being in more size than I wanted to be. Yesterday and today, I had many opportunities to SIZE BACK DOWN for breakeven after being down more than I expected to be on big size, and I didn't take it, yesterday I got lucky and it eventually came back to profit, today I got smoked and could have been even worse than it was.
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.
GENE
Was short biased again today, but the gap up wasn't very big and it already hit 4.80 premarket and had bounced all the way back, so I shouldn't have been so short biased. I missed the short into the first spike 5.25ish, and chased it down in weakness at 5.15 not wanting to miss it if it washed out. I knew it was a terrible entry but tried to make it work, my adds were decent (ended up with 5.25 avg 4000 shares) but I was already in big size and I only got 1000 shares filled at 5.18 into the dip. It popped back up to HOD at 5.32 and I added another 2000 shares into that at 5.32 and 5.37. Now I had 5000 shares 5.29 average, it pulled back to 5.31 but then held and then went up to 5.52, pulled back to 5.35 again (only down like $300ish after being down $1000+), and I didn't get any filled and it popped back up to 5.53. Came all the way back to 5.31, missed covering any, and hit 5.27 twice and I missed covering a single share, even though it was now breakeven after being down $1000. It popped up to 5.45, then pulled back down to 5.35 and made a HIGHER LOW and held ABOVE VWAP, I missing covering any there and it went straight up to 5.60 in 5 minutes (a $1500 difference). Missed covering any into dips, 5.50's and 5.60's, then I got bought in on 2100 shares at 5.68 (liquidated by Suretrader because I was in too big and down on the trade). It came down to 5.50ish and I covered everything into that with the PLAN to reshort again higher so I had a better average. I went long 5.48 to 5.57 for a scalp, then shorted 2k at 5.59 and it went to 5.50 but I missed it ($200 profit), then it popped up to 5.67 ($150 loss), I added another 1k at 5.66 and it came back to 5.52 ($300 profit), didn't get any filled again and it popped up to 5.70 ($250 loss). Because of this up/down/up/down, not getting any fills and minimizing what could have been at least $500 profits had I just scalped the channel and taken profits and then replaced shares again higher, I covered 1000 shares at 5.60 and 1000 shares at 5.57, not wanting to miss my small profits again. That last spike was a "fakeout" for the breakout buyers and shorts panicking and then it finally did what I wanted and broke 5.50 and faded from there, too bad I only had 1000 shares left and I covered it at 5.42. Tried scalping it long but did it terribly, not taking my quick profit and then adding more at my entry when I should have been selling for breakeven, ended up about breakeven luckily. Then, shorted 1k at 5.34 and covered at 5.30 when it was making a higher low, then shorted 1k at 5.42 on the VWAP reject and added 1k "to a winner" at 5.40, but then covered 1k super early at 5.37 when it looked like it might bounce, and covered the other 1k at 5.28. Missed any re-shorts into pops and it faded nicely to 5.05. Could have traded this much better, a poorly managed first trade made me miss many other opportunities with other re-entries, and a poorly managed second trade made me cover way too early after missing earlier profits into dips and being frustrated from minimizing the trade so much.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short | 5.28 | 5.53 | 6000 | -$0.24 | -$1,467.00 | -4.63% |
| Short | 5.61 | 5.53 | 3000 | $0.08 | $240.00 | 1.43% |
| Short | 5.34 | 5.30 | 1000 | $0.04 | $40.00 | 0.75% |
| Short | 5.41 | 5.33 | 2000 | $0.09 | $170.00 | 1.57% |
| Long | 5.48 | 5.57 | 1000 | $0.09 | $90.00 | 1.64% |
| Long | 5.38 | 5.39 | 3500 | $0.01 | $47.49 | 0.25% |
- Lessons:
- Do not chase a bad entry, it's better to miss it than get in at a bad spot (I 100% knew my entry at 5.15 was a bad entry, it held 5.10 and went against me right away and "made me" size in bigger than I would have because I was trying to bring my average up and I didn't cover as much into the dip because my average wasn't as good as it would have been without that first entry)
- When scalping parabolic's and morning emotion in the first 30 minutes, make sure to COVER ALL into dips (make sure to have orders in for ALL around key levels, VWAP was 5.20 and my average wasn't very good and too much size and I only got 1000 shares filled at 5.18)
- Don't be afraid to take the ask when it's starting to bounce
- Whenever you are in a stubborn trade with too much size, have to be SIZING DOWN OR COVERING ALL into dips and then just replacing the shares again higher, even if you think it is going down by the end of the day, if it looks like it's going higher at that moment it's better to cover and then RESHORT AGAIN HIGHER (every 10-20 cents really adds up with that much size)
- Going along with that, if you are in a stubborn trade with too much size and you were just down on it and it comes back to breakeven, have to be COVERING ALL and then looking for better entries later on, don't get too greedy trying to turn it into a profit
GBSN
Was busy with GENE most of the day, so I didn't trade this earlier on, lots of range on this stock today, lots of missed opportunity from holding onto my stubborn GENE trade for so long. Shorted into the parabolic just for a quick scalp, 1600 shares 4.10 avg, should have covered some into the dip to 4 when it wasn't breaking, it popped to 4.20 but then came back down and I covered it all for a small profit.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short | 4.10 | 3.98 | 1600 | $0.13 | $202.00 | 3.08% |
- Lessons:
- When shorting parabolic's for quick scalps, have to be covering when it's holding key levels (such as 4 dollar whole number), especially with SSR on and lots of trapped shorts, it can pop back up very quickly
CRMD
Just quick scalps on this, shorting into spikes, covering into dips, first two trades worked out perfectly, the last one I should have probably stayed away from considering it was the last 30 minutes and just broke to new 52 week highs, luckily ended up with a tiny profit. Shorted 9.29 covered 9.20, shorted 9.39, covered 9.17, shorted 9.59, added 9.74-9.78 and covered 9.65ish in a few orders (got 600/900 filled at 9.57 and then just covered the rest at 9.70).
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short | 9.29 | 9.20 | 1000 | $0.09 | $90.00 | 0.97% |
| Short | 9.39 | 9.17 | 1000 | $0.22 | $220.00 | 2.34% |
| Short | 9.70 | 9.65 | 1900 | $0.05 | $89.00 | 0.48% |
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