Awesome day again, it's been an insane last few weeks of trading, I "left some on the table" as always, missed about a dollar (per share) on CNYD and almost a dollar (per share) on JNUG, and some on CLNE, but oh well, like I've said before 1-2k per day is incredible and I should always be satisfied with that, 2.5k is even better, I'm happy with it. It was also better today that I didn't have any huge unrealized losses, it is much more stressful and less "fulfilling" if have a "big profit day" by holding through huge unrealized losses. I still had some unrealized losses today, but nothing really huge (like 1k+ as I've had many times over the last few weeks), I was down around 500 on GPRO, around 500 on CLNE, and around 500 on JNUG, but they all were right back to profit within a few minutes. Those types of unrealized losses are expected to happen with the size that I've been trading lately (can't perfectly top and bottom tick everything obviously, everyone will have some unrealized losses everyday), I'm okay with unrealized losses around that much but when it gets over 1k, that's a lot worse and it feels like I got completely "bailed out"/"lucky" if I squeeze out a profit from it, and I don't feel feel very good/proud of my trading for the day if it was all from big unrealized losses that came back to profit (which has been happening a lot lately).
What I am adding now:
After watching CRM fade from 77's down to 72's without taking a trade on it, I started forcing a trade on it. I had a small profit many times from not the best initial entry and readds, but only covered some of the position. Eventually, I had covered everything but 200 shares for a tiny profit overall, then I readded again higher trying to "make it work" instead of just taking a small loss on 200 shares. I got bought in on some, then readded again and got bought in again then it tanked a dollar in the last 2 minutes and I would have made a small profit instead of losing about $500 on that part of it. Completely stupid, forced trade in the last hour of a good day, it reminds me of ALTR (but that was much worse and I lost 2k), it's frustrating to see it wash out in the last two minutes but this trade could have still been much worse, there's no one to blame but myself, it was completely my fault for not covering ALL and then readding and going over 2:1 margin past 3:30.
Still a really good day overall, +$2.2k, it's just frustrating to give back about $400 at the end of the day from a silly forced trade with too much size and never covering all from a bad overall average, it still could have been much worse so I can't complain too much. Also, CNYD could have been a HUGE trade with a bit more patience and/or size, that was a "golden setup" and I could have sized in bigger and been more patient, it was just very "thinly traded" so I was trying to be careful, I wish it had more volume (1mil+) and I would have been more comfortable trading bigger on it.
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.
GPRO
Big gap up from 47.02 to 51.50-53.50 area during afterhours and premarket today, on positive earnings results yesterday. There was a lot of "emotional candles" for the first 20 minutes, 50 cents to a dollar candles up and down. It opened at 51.98 and started spiking right away, it went to 52.92 on the second candle, then all the way up to 53.91 on the third candle. I scaled in too early into that third candle and ended up with 800 shares 53.36 average, and it hit as high as 53.91, it then pulled back to 52.89 on the next candle and I got 400 covered at 53.17, then it pulled to 52.75 and I had my order waiting at 52.72 and I missed it, then I changed it to 52.86 and I got 200/400 filled there and it spiked back up another dollar on that same candle, I readded 600 shares into that spike and now had 800 shares again 53.55 average and covered it at 53.21 and 53.07 into the washout. My covers were good, as it bounced right back on the next candle and eventually popped about 10 cents over the HOD to 54.06 and did a perfect "HOD rejection" and slammed down from there, and eventually faded $2-3 dollars off the highs (Emil, in IU chat, nailed the short for probably $1-2/share). I missed the reshort, I thought it might spike higher past HOD but it was rejected perfectly.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short | 53.45 | 53.09 | 1400 | $0.37 | $515.50 | 0.69% |
CLNE
Somewhat overextended chart up from 5.50's in a few weeks and from about 7 to 9+ in the last few days, Nate was short biased on it today. I shorted into the parabolic at 9.42, then added 1k "to a winner" at 9.40, I was wanting to cover some at 9.32 to size back down but it hit 9.33 and perked up again. I added more on the way up to have 4700 shares 9.45ish average and it hit 9.60 at the very top. It slammed down to 9.37 in one candle and all I got filled was 100/1000 at 9.37, I should have taken the ask at 9.38 with 1-2k shares to size down and be able to readd again higher. It bounced to 9.50ish and made a lower high, then started washing out from there. I let the rest fill at 9.37, then covered another 1k at 9.36 to size back down, then covered the rest from 9.23-9.30 into the washout that hit 9.21 at the very bottom. It reclaimed VWAP and then VWAP acted as support when it came back down, then it eventually got back up to a new HOD. I was wanting 9.70's to short, there was about a 15k seller at 9.65 and it got taken out and went to 9.68, then it was "refreshed" (or someone else came in) with about a 10k seller at 9.64, it was "rejecting HOD" and slammed down to 9.45 in two candles, I scalped it long 9.46 to 9.53. It came back to 9.60 and there was a big seller there again and then it slammed down to 9.20's in about 10 minutes, I completely missed the short again. Then I almost shorted it 9.36-9.42 but I thought it might just be slow action and it was now above VWAP, but it slammed back down below VWAP again and faded all the way to 8.87 (9.20's to 8.87 in about 5 minutes). I started scaling in long, I had 3k shares 8.93 average and it popped to 9.03 and I got 1/3 sold at 9.02 (would have liked to have sold more but I missed some), it came back down to 8.89 and was still holding that support level and I quickly took the ask at 8.89 and added another 1k, I put orders in for a very small profit as I still wasn't sure how much it would bounce, and I scaled out 8.97-9.05 into the candle that went as high as 9.10. I accidentally ended up short 1k shares at 9.05, when I was trying to sell the last 1k that I thought I still had long but I had already sold it, I covered my accidental short at 9.03 for 2 cents because I didn't want to "try to make it work". Later it spiked from 9.19 to 9.39 in one candle, I was wanting to short around there but was looking for 9.40's again and it didn't get there.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short | 9.45 | 9.31 | 4700 | $0.14 | $674.00 | 1.52% |
| Short | 9.05 | 9.03 | 1000 | $0.02 | $20.00 | 0.22% |
| Long | 9.46 | 9.53 | 1000 | $0.07 | $70.00 | 0.74% |
| Long | 8.93 | 9.01 | 4000 | $0.09 | $350.00 | 0.98% |
- Lessons:
- Make sure to size back down when it's not doing what you thought or if you were in too big (I should have covered some at 9.35 when it was still holding, and I should covered some at 9.38-9.40 at the bottom of that big washout, so that I could have readded again higher, I ended up covering 2k shares right around there anyways because I didn't size down earlier and those covers ended up being super early on the second retest and it washed out to 9.20)
- "HOD rejections" and lower highs are great places to short on a "big runner"/overextended stock, don't be afraid to "jump in" if you see these setups/signals, even if you have to hit the bid
CNYD
Very thinly traded stock, with no news and SSR on and 750k share float, I saw it on my HOD list in Dastrader at 3.60 (from 2.85) and could have bought at 3.60, the volume was about 30k shares at the time. It slowly made it's way up to about 5, I was looking for a big parabolic or 5.50 area to short. It eventually got there and I scaled in with very small size, 300 shares at a time to have 900 shares 5.68 average (very top was 5.80), It pulled back to about 5.40 and I covered half at 5.41. It dipped to 5.22 for a minute but I missed covering the rest into that, it perked back up again and I readded 200 (out of my 500 share order) at 5.58, almost covered around 5.32-5.45 but I was looking for a bit more than that. It popped back up to 5.73 and I got 300 more added at 5.71, I had 950 shares now 5.67ish average, it was very "thinly traded" and 10-20 cent spread at times, and I covered 450 shares at 5.47 as the "best bid" when the spread was 5.47 by 5.64, unfortunately that was right as it tanked to 5.20. I got a 100 share partial fill at 5.27, then covered the last 400 at 5.18 just because it was super thin and didn't washout yet. As soon as I covered there was about a 2k seller at 5.18 (and still a bidder at 5.17) and I knew it was going much lower, but I couldn't get back in because of SSR. It washed out to 4.61 in two candles and I had an order in for 500 shares to go long at 4.82 (I was expecting a washout but not that much of one), I knew my entry was poor and I tried to sell at 4.87 and got 400/500 filled, then "ditched" the last 100 at 4.70, it washed to 4.36 and I scalped it long again 400 shares 4.36 to 4.48. It was "hanging out" just below VWAP after that and I was expecting it to go lower still but I didn't trade it again since it was pretty much "untradeable" now with very low volume and a 10-20 cent spread. Decent trade overall, I wished I had sized in bigger and been more patient with it, but I guess I had to "play it safe" because it was so "thinly traded", I still could have went a little bit bigger and held longer, a 100% move on no news has a long way to fall once the momentum shifts, I used about 1/10 of the size that I could have and covered about a dollar too early, this trade could have been my biggest trade ever with a bit more patience and/or size.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short | 5.67 | 5.35 | 1400 | $0.32 | $450.00 | 5.66% |
| Long | 4.82 | 4.84 | 500 | $0.02 | $8.00 | 0.33% |
| Long | 4.36 | 4.48 | 400 | $0.12 | $48.00 | 2.75% |
JNUG
FOMC meeting today, I was watching this when it was at about 25 dollars, and it dropped to 24.30's in about 5 minutes before the meeting started. I put a "fishing order" for 300 shares at 23.61 and surprisingly it tanked over a dollar and I got filled, I probably could have sold for 20-30 cents if I was quick enough but I missed it, and it hit as low as 23.22 on that candle, I added another 300 at 23.23. I could have sold at 23.40-23.59 for a tiny profit but I missed it and then it dropped to 22.85, I added another 300 at 22.92. I had 900 shares 23.25 average and I was going to "scale out" for a small profit into the bounce, but I remembered my trade on UVXY during the FOMC meeting last month where I sold only HALF and missed the rest and then it tanked and I lost a bunch, so I decided to put the order in for ALL at 23.48 for a tiny profit. I got filled on the way up and it hit as high as 24.10 on that candle and 24.49 on the next one (I missed about a dollar but oh well I guess). I accidentally still had my 300 share order in at 23.87 and I got filled on that (as a short), then added 300 at 24.27 and covered it at 23.66 for a decent profit.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 23.25 | 23.48 | 900 | $0.23 | $204.00 | 0.97% |
| Short | 24.07 | 23.66 | 600 | $0.41 | $246.00 | 1.70% |
CRM
Huge spike up from 66 to 78.46 on buyout/takeover rumors/news, many "pro traders" (Nate, Bullzone, D4yTrad3, Modern Rock, Kaos) were shorting it in the 77's and it faded all the way to 72.10 eventually. I didn't pull the trigger on the short at all and just kept watching it fade and fade, I wanted to go long at some point when it was in the 72's but I missed the perfect entry and didn't chase it up. It bounced from 72.10 to 74.46 in 3 candles, and I shorted too early into that with about 700 shares (more than I wanted to), 73.91 average and it pulled back to 73.61 and I only covered half at 73.77 even though I knew my average was terrible, I readded some and it pulled to 73.60 again but I missed it and it spiked to 74.99 on that same candle, I added a bit more into that, then it came back to 73.80's and I covered everything but 200 shares for a tiny profit from a fairly bad overall average (I think it was about 74.10). I had realized a few hundred in profits total but then I was way too patient/stubborn on the last 200 shares and I didn't cover them for breakeven/small loss. It was holding VWAP "over/under" pretty well and it perked back up again. I should have been taking the small loss on my 200 shares but instead I was readding again back around 73.50-73.70 to 730 shares again. I had a "smallish" loss on some of those candles but missed covering any, I got bought in on 400/730 at 75.10 because I was over 2:1 margin past 3:30, I was still expecting a washout before the close and thought I could be quick and not get bought in again so I readded more higher (in not very good spots), I had 730 shares again about 74.95 average and then I got bought in on 400 shares again at 75.57, it then tanked to 74.50 in the last 2 minutes in one candle and I covered the last 330 shares at 75.08 for a small loss (I didn't want to hold overnight). It ended up grinding up afterhours and hitting as high as 76.98 at one point, but mostly trading around 75-76.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short | 74.44 | 74.64 | 1965 | -$0.20 | -$391.15 | -0.27% |
- Lessons:
- Avoid/be careful on news related 20+ dollar stocks (I had stayed away from them so far this month but forced on this one today after missing the good setup and I was forcing on the poor setup)
- Only trade small size if not very confident in the stock/setup (if you feel you "have to" trade it)
- Make sure to cover all if you know your entry isn't very good, don't try to turn it into a "homerun", just take your small profit and then look for better re-entries again later
- Pay attention to VWAP and respect it, VWAP worked well as an indicator on this stock today, it bounced off of VWAP initially but then couldn't hold and broke below it and faded another 2 dollars, then when it reclaimed, it acted as "over/under" support and bounced another 2 dollars
- Be especially careful and do not fight the trend in the 30 minutes on a "news related play", there is still a lot of uncertainty and an update/more news could happen at any minute and anything could happen into the close/afterhours
- Do not go over 2:1 leverage past 3:30 even if you are "trying to be quick", it doesn't work, I'm sure I've lost a lot more than I've made by trying to "be quick" in the last 30 minutes and getting buy-in's and extra fees
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