Another good day, most of my gains are coming in the first hour lately, and then the rest of the day, I'm trying to just "take it easy" and protect the gains and add to them if I see good opportunities. I think I have been improving at this, I haven't been forcing as many trades during the middle of the day, and I've been protecting my early profits for the most part. Today, one of my problems was being too greedy on some of my exits, I would have an order in at a good spot and then I would think it might go more in my favor, and I would cancel it and put it in a bit higher/lower and I would miss my exit entirely.
I didn't realize that there was a StreetSweeper article on ANTH when I was buying the washout from 5.95 to 5.56, I was trying to check for news but didn't look hard enough. I had 5-10 cents profit but I was too greedy on my second exit I had an order in 5.70-5.75 a few times, and then I would cancel it and move my order a tiny bit higher (5.77-5.82), then when it failed, I wouldn't be able to get filled where I was trying. It started rolling back over and I missed another fill at 5.68 by canceling it and moving it higher, then it pulled to 5.42, I had some adds and managed it to around a break even total trade (after being up like $100-200). Then I was shorting it and barely missed fills (order was 5.17, it hit 5.17 but no fill and then popped to 5.30), then got a partial fill (200/1000) at 5.22 when I tried to take the ask. I kept barely missing fills (I was trying to cover my adds at least), it kept grinding up, all of my adds were in good spots but I kept missing covers. Eventually, it made a lower low, and I covered everything for around 7 cents total, mostly because the volume was thin and it could easily pop back up from one order.
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.
| Type |
Entry |
Exit |
Shares |
+/- $Amt |
$ PnL |
% Pnl |
| Short |
5.98 |
5.75 |
2700 |
0.23 |
$622.00 |
3.85% |
- Lessons:
- Always make sure to cover some into a quick washout when shorting parabolic's especially in the first 10 minutes and especially with SSR on (I had an order in for half for 10 cents profit but got greedy and changed it and then it popped back up too quick)
- Covering some into the first quick pullback reduces risk if it goes much further and also gives you the ability to re-add that cover at a higher price
CRMD
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short |
8.56 |
8.40 |
2000 |
0.16 |
$318.00 |
1.86% |
| Short |
8.87 |
8.91 |
2600 |
-0.04 |
-$99.00 |
-0.43% |
- Lessons:
- Be careful/avoid shorting relative strength around 11 AM (well above VWAP, at HOD's), only parabolic's for scalps, stay away from grinding up action
- Wait for a double top or lower high, and then short with a set risk
- Do not add, add, add randomly, even if you think you are adding to a winner, only make "smart" adds (where you would be shorting if you had no position), usually if you are hitting the bid on an add, it's not a "smart" add, especially on thin stocks
- Did a good job of covering most in front of the big bid support at 8.85, when it wasn't breaking down, and stopped out on the last 800 at 9 rather than fighting it to 9.30
- As Nikkorico says, "when upside down and stubborn and you get a chance to cover for even, take it, don't try to squeeze a profit out, it was a bad trade to begin with so be glad with breakeven."
ANTH
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
5.52 |
5.52 |
4000 |
-$0.01 |
-$25.42 |
-0.14% |
| Short |
5.35 |
5.27 |
3800 |
0.08 |
$287.46 |
1.42% |
- Lessons:
- Always figure out why something pulled/spiked (5.95 to 5.56 in one candle doesn't just happen for no reason), then trade accordingly, I would have been all out had I know that there was a negative article and it was acting weak, should have been out anyways once the bounce was failing
- Don't get greedy on sells/covers, if you have an order in at a certain spot for a reason, let it fill, don't worry if I goes a bit higher/lower afterwards, I missed sells and covers many times on this stock today and the trades could have been much better
- Stay away from the grind, make sure to cover some/all if it continues to hold higher lows, this could have kept grinding to 5.50+ potentially and then I would be in a bad situation because of my size
- 5.35-5.40 support area became resistance on multiple attempts and it would have been a good re-short into that 5.40 push, I missed the perfect entry and didn't chase it down to 5.30, it slowly faded to 5 in around an hour
UNXL
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short |
7.54 |
7.43 |
500 |
0.11 |
$55.00 |
1.46% |
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