Decent day today, lots of small scalps added up to over 1k, then one lucky "add, add, add" trade on AMCN added some more. I feel like I am fairly good at "top ticking" and "bottom ticking" entries at HOD/LOD or just of that parabolic/washout at the time. Because of this method of trading, I often minimize my profits and "leave a lot on the table", as I am usually only looking for the immediate pullback/bounce and then will cover/sell if it looks like it's not going to go much more in my favor AT THAT MOMENT. Sometimes, my exits are good and it has "another leg up/down" and my small profit that I took would now be a loss, other times they were good and then it setups up again and I don't get back in (lower high/higher low, etc.), other times it keeps going in my favor right away and I missed some. No one can be perfect, it's going to happen a lot with the way that I trade, just quickly in and out for small scalps, I'm okay with it, it goes both ways, sometimes I make my tiny profit and it would have been a big loss had I held longer, or I get lucky with a huge unrealized loss that comes back to profit (which has been happening a lot lately).
I went above my 7k max shares rule again (to about 9k shares), I'm not very good at having the discipline/self-control to follow my own "rule". I have decided that I'm not going to worry about it anymore, but I just have to be smarter with size, and still have that as a "guideline" but not a "rule". Also, trying to use the amount of size RELATIVE to the SETUP, not just "add, add, adding" because I'm down on the trade and trying to turn it into a profit, "mid-day action" is almost never a good enough "setup" to have that much size.
CANF was somewhat frustrating, I fought it all day yesterday, and today it gapped down to 3.15-3.25 and washed to 3.08 at the open, bounced to 3.20's and then faded to 2.90's. I missed all my entries on it today (I would have an order waiting and it wouldn't quite get there). In this case, premarket highs (and failing to go back green on the day) worked perfectly as a shorting opportunity on the gap down washout and bounce back.
UPDATE: Not exactly sure why the text went different in some parts of it, I am just leaving it because it is too "finicky" to fix, if I change it, it messes up other things and will take me a while to fix it all.
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.
UNXL
Had a big gap down (40%+) from negative news afterhours yesterday from 5.83 down as low as 3.40-3.60, some buyers came in around 9:10 premarket and it went from 3.45 to 3.70's before the market opened. It popped from 3.73 to 4 on the opening minute candle, then was "holding" around 4.75-4.88 for 2 minutes, then spiked up to 4.22. I had an order waiting for 1k at 4.18, and another for 1k at 4.22, and was willing add even more if it kept spiking higher, to size in pretty big into that parabolic. All I got was 1k at 4.18, it pulled back to 4.01, and was holding 4 as support momentarily, it looked like it might "perk up again", so I covered at 4.06, it hit 4.12 but then was rejected, I knew it would probably fade to 3.90's now but I couldn't get back in because of SSR. It hit 3.90, then bounced to 4-4.05 again and was acting weak there just above VWAP, I should have gotten back in there but I didn't, and it broke below VWAP and slowly faded to 3.70's, then washed out from 3.73 to 3.57 in 2 candles. I put an order for 1k at 3.57 and got 200 filled, then put an order at 3.58 for another 1k (and left in the order at 3.57), I got 1k at 3.58 and still had 200 from 3.57 (didn't get the rest filled). I sold a few minutes later at 3.68 for a quick scalp, which was a good sell at the time but I ended up missing a slow grind up to 3.90's because I didn't get back in on the higher low at 3.60.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short |
4.18 |
4.06 |
1000 |
$0.12 |
$120.00 |
2.87% |
| Long |
3.58 |
3.68 |
1200 |
$0.10 |
$122.00 |
2.84% |
AMCN
Completely missed this one today, someone was talking about a negative article/news premarket in chat, it had already faded from about 5 down to 4.65 premarket but then popped back up around the open and was trading at 4.81-4.95 for about 7 minutes, then it dropped to 4.60 in 3 candles. I went long at 4.47 (LOD was 4.46) for a quick scalp when it looked like it was holding, I sold at 4.48 when it still seemed weak, it popped back to 4.50's and I missed shorting it (I was waiting at 4.58 and the highest it hit was 4.55). Then dropped to 4.30's, grinded back to 4.50, then a "Citron tweet", sent it from 4.50 to 4.18 in about 5 minutes. I was wanting to scale in long from 4.18-4.10 into that washout (I had some orders spread out around there), all I got was 100/1000 shares at 4.18 and I sold it for 8 cents at 4.26, it popped up to 4.35 on the next candle which would have been a 15+ cent scalp on my 1k shares, but all I got was 100 shares unfortunately. It ended up grinding back up to 4.40's then popped from 4.45 to 4.55 (right through VWAP at 4.48) in one candle on big volume. I started in at 4.58 and had some "fishing orders" 4.59-4.64, it popped to 5.64 and filled then all, then went to 4.66 and I got a little bit more filled, I ended up with 6200 shares 4.62 average and it pulled to 5.58 on that candle but I had some orders waiting lower than around 5.56-5.52, it bounced back to 4.65 and I got a 434 partial fill add. Then it came down to 5.58 and I got 100/1000 filled and then the rest filled, it was 5.57 by 5.58 with at least 3000 shares on the ask at 5.58, unfortunately, someone took the ask and "SSR popped" it right back up to 4.63. Then it "hung around" 4.61-4.64 for a few minutes, then popped to 4.75, "hung around" 4.67-4.72 for a few minutes then popped to 4.80, I had added some on the way up and I was now in about 9200 shares 4.666 average (down around $1000 unrealized), thankfully/luckily, it came back to 4.60's and I covered everything 4.60-4.67 for a tiny profit. This wasn't a very good trade, when I was sized in 6000 shares already (which was somewhat more than I had wanted to), I should have made sure to cover more than 1k so that I could add more higher and manage it from there, I figured it would come back down eventually and this was just an "SSR squeeze" but it could have still went to 4.90's first and I would have been down a lot and with no more room to add. It was a very "crowded short" with SSR on, and it held 4.60's the rest of the day and squeezed "R/G" up to 5+ in the last hour, I wish I had gone long as I was somewhat expecting more squeezing since it was a "crowded short" with SSR on and was basing/higher lows ABOVE VWAP, but at least I stayed away from re-shorting it.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
3.47 |
3.48 |
1000 |
$0.01 |
$10.00 |
0.29% |
| Long |
3.18 |
3.26 |
100 |
$0.08 |
$8.00 |
2.52% |
| Short |
4.66 |
4.62 |
10234 |
$0.04 |
$417.70 |
0.88% |
- Be careful of "add, add, adding" too much, always try to make "smart add's" and MAKE SURE TO SIZE BACK DOWN into dips, take a small profit/small loss
- Slow grind up with SSR on and ABOVE VWAP = NO REASON TO SHORT/BE SHORT, have to wait for a parabolic or for it to "top out" or make lower highs (I was too early on my first short and didn't size back down accordingly, but I did a good job of staying away from the reshort after I exited that trade, because I knew there was no reason to be short when grinding/basing above VWAP, especially with SSR and "trapped shorts")
VLTC
Was watching this at the open, then changed to a different stock for a minute when this wasn't doing much for the first 1-2 minutes. Then looked back at it a minute later and saw that at 9:32 it washed from 9.40 to 9.05, I watched it back back to 9.60 on the next candle, it went to 9.75 then bounced back to 9.50 and held support at VWAP for another "leg up" to 10+. Then faded from there and washed out from 9.42 to 9.10 in one candle. There were still sellers at 9.11 and I took the ask with 1k shares at 9.11 quickly and I was trying to sell around 9.22 and it went to 9.21, I added another 1000 at 9.15 to try to "help it pop back up" and had a sell order at 9.21 for half (and was hoping on selling the rest 9.25+), I got a partial fill there but it still seemed weak so I hit the bid on 1k shares at 9.16 (I had sized in so I was staying safe and sizing back down when it still seemed weak), it popped back to 9.24 and the rest of my order filled at 9.21. I then put a "fishing order" for 1000 shares at 8.82 and it washed from 9.12 to 8.80 (nailed the bottom), I tried to sell for a tiny profit in the same candle but missed it, then was trying to add another 1000 at 8.83 and got 100/1000 filled. I sold too early at 8.92ish when it seemed somewhat weak at the time, always have to stay safe with SSR and stocks that are red on the day (especially junk stocks like this). It popped back over 9 and slowly bounced up to 9.80, I would have never held that long but I still could have made an extra 15-30 cents on this trade with having such a good entry. Later, it washed out from 9.55 to 9.17 in two candles and I got 900/1000 filled at 9.17 and sold immediately at 9.29 for a quick scalp.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
9.13 |
9.19 |
2000 |
$0.05 |
$110.00 |
0.60% |
| Long |
8.82 |
8.92 |
1100 |
$0.10 |
$108.00 |
1.11% |
| Long |
9.17 |
9.29 |
900 |
$0.12 |
$108.00 |
1.31% |
AGEN
This stock has had a pretty big run in the last few days (from 5.60 to about 8), yesterday it ran from low 7's to almost 8 and then faded all the way back to low 7's again. Today, it gapped up from 7.24 and hit as high as 8.40 premarket on positive data news (which some were saying was old/rehashed news). Then a perfect slow and steady, "lower highs" (and under VWAP and VWAP rejecting) fade from 8 all the way to 7.23, giving back the entire gap. I thought it would bounce a bit off of this "r/g" level, I got 200/1000 filled at 7.32 then I canceled that order, then added 2k shares at 7.23 into the washout and sold immediately on the bounce at 7.29 and 7.34. It went to 7.38, then came back to 7.26 in one candle, there was a 5k seller at 7.28 and I had my "finger on the trigger" for 2k shares at 7.28, I was going to take the ask if it looked like it was holding a HIGHER LOW. It popped back up too quickly and I missed it and it was soon 7.50's, I shorted 2k shares at 7.52 (using VWAP as a guide and it was a quick move from 7.35 to 7.50's in 2 candles) and it pulled back to 7.43 on that same candle and I covered 1k at 7.43. Then, readded 1k at 7.53 and 1k at 7.51 and covered 2/3's into the dip at 7.42-7.43, and then the last 1k at 7.38, which were all great exits at the time, I just didn't get back in around 7.50 and it slowly faded "green to red" on the day and went as low as 6.85.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long |
7.24 |
7.32 |
2200 |
$0.08 |
$176.75 |
1.11% |
| Short |
7.52 |
7.41 |
4000 |
$0.11 |
$420.46 |
1.40% |
- Lessons:
- A big gap up with no follow through is a good short on all "lower highs" and "VWAP rejects", looking for it to give back the entire gap and possibly go red on the day eventually
- Can always get back in when it sets back up again, usually with a higher low or lower high (the higher low at 7.26 would have a great place to re-enter a long position, the lower high at 7.50 would have been a great place to re-enter a short position)
ISNS
Former runner, had some momentum today with DGLY running, I was wanting to scale in short into the 3 parabolic, and all I got was 700/1000 at the very top at 3.03 and covered it at 2.94 for a tiny scalp, I was wanting for it to keep spiking higher and I would have scaled into more size.
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| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
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| Short |
3.03 |
2.94 |
700 |
$0.09 |
$63.00 |
2.97% |
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