A well deserved losing day, traded insanely big, like 2-3x what I would normally, added to losers, fought the trend, was stubborn. It could have been a lot worse, I have to stop these bad habits and be more careful. I had freaking 4800 shares on CRMD at once, and 9000 shares of GERN at once. I turned a good $300-400 dollar winning trade on CRMD into a $1000 dollar unrealized loss, and eventually got out for basically breakeven total (so I gave back my realized profit). Here is what happened there, I was short 2k at 7.11 average and I covered 1k at 6.95 and tried to cover the other 1k at 6.88 and got 300/1000 filled, and then I decided I didn't want to pay a few extra bucks commission to cancel the order and just cover 6.90-6.95. I let it grind back up and then I re-added more shares in spots where I wouldn't normally short, I tried to cover on the bid around 7 a few times but was missing fills, then a 12k bidder starting propping it up at 7.05, I tried to stop out on everything at 7.10 but only got 400 filled out of the 2200 shares I had at the time, then I re-added a bunch 7.20ish (just past the previous HOD, no reason to still be in and definitely not a place to be adding). Was down a bunch at the top and got bailed out when it came back down.
GERN is a very thick stock and slow mover, which I'm not as good at trading and I usually would just avoid it, but I decided to try to force a trade that wasn't there. I had 2k shares 3.61 and I was up 5 cents but I was looking for more than that, then I re-added more, still around my average so there was really no point to, and the stock WASN'T doing what I thought. It hung around my average for around 15 minutes, it would seem so close to breaking down and then it would continue to keep holding higher lows each time and it would be hard to fill where I wanted when it popped back up. (I had some orders in at 3.56-3.58 to scale out for a few cents profit). It finally broke over 3.65 after a few tests, and I was already in 5k shares 3.63 average, I did a major add, add, add just past the HOD. I now had 9000 shares 3.67 average, it went to 3.82 and I was down over $1000 at the top, luckily it came back to 3.65, I should have had orders in for all of it or almost all of it 3.65-3.70, instead of just like 1k. Each time it retested 3.65, I kept thinking it might finally break and I had orders in 3.55-3.63, I got too greedy and I was still in WAY TOO BIG. I only covered 3k 3.65-3.70. Covered some more above 3.74ish, and I still had 4k left, it hit 3.69 and I had some orders just below like 3.65-3.67, and then it popped back up and continued it's push into the last 15 minutes, had I taken the rest off at 3.70 I would have saved myself $300-400. I was in so big that I was worried about every penny.
I regained some of the losses by trading OREX afterhours, I was too slow on the initial move, I almost shorted the bounce at 7.50ish, had an order in at 7.48 but then decided to cancel it, tried to scalp it long a bit and got 100 share fills twice, then scalped it short twice. The second time, I only wanted to be in 500 not 1000, that's why I covered so early, oh well I guess, missed some profits, happens, I wasn't that confident in the trade and it's afterhours, anything could happen.
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.
CAPN
| Type |
Entry |
Exit |
Shares |
+/- $Amt |
$ PnL |
% Pnl |
| Long |
7.51 |
7.65 |
1500 |
$0.14 |
$210.00 |
1.86% |
| Long |
6.82 |
6.92 |
1000 |
$0.11 |
$105.00 |
1.54% |
- Lessons:
- Be careful on first few minutes washout scalps, don't be too greedy on exits, I could have sold my first entry (7.71) at 7.99 but I was too greedy and changed the order
- Can always get back in when it holds a higher low (my second trade)
CRMD
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short |
7.16 |
7.16 |
7200 |
-0.00 |
-$23.02 |
-0.05% |
- Lessons:
- Don't worry about commissions, if you get a partial fill, change the order and exit the rest
- Don't turn a good trade into a bad one, trying to make a partial position work
- Stay away from the grind, especially on thin stocks
- Don't add, add, add to a losing position, never be in that big at once
- Don't short close to previous HOD when it's gearing back up
EYES
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
16.56 |
16.87 |
100 |
$0.31 |
$31.00 |
1.87% |
GERN
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short |
3.67 |
3.74 |
9000 |
-0.07 |
-$670.00 |
-2.03% |
- Lessons:
- Never short the frontside on thick stocks like this, dips just get bought up and it continues to grind and uptrend, this is a trend where you want to be buying dips
- Don't add, add, add to losing positions, never be in that big at once
- Have to be covering when it's holding a key level (3.65) multiple times
SKUL
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
11.10 |
10.86 |
200 |
-$0.24 |
-$48.00 |
-2.16% |
| Short |
11.37 |
11.18 |
150 |
0.19 |
$28.50 |
1.67% |
OREX
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
6.83 |
6.99 |
100 |
$0.16 |
$16.00 |
2.34% |
| Long |
6.82 |
7.06 |
100 |
$0.24 |
$24.00 |
3.52% |
| Short |
7.10 |
6.92 |
500 |
0.18 |
$90.00 |
2.54% |
| Short |
7.13 |
7.01 |
1000 |
0.13 |
$129.00 |
1.81% |
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