I'm mostly frustrated with the missed long opportunity on VLTC from 11.50-12 up to 12.50-12.95, that was the type of move I was looking for but I completely missed it because my orders were "too low". I'm also frustrated with my poor management of my VLTC trade, I knew it was "stalling" and I didn't hit the bid to sell the rest, then I knew it looked weak and would probably washout again but I didn't sell for breakeven/small loss because I was too greedy after missing about $500 if I had sold into that push. I got lucky that it came all the way back to 11.60-11.70, it could have easily went lower on the "11 dollar wash" or it could have easily "rolled back over" from 11.50-11.60 back down to 11 and I had missed selling any around 11.50-11.60.
Later, I forced two trades on VLTC when it was UNDER VWAP and just grinding/choppy action, the first one was somewhat decent and it worked out well, I sort of "held it up" and helped it squeeze "R/G" and I made $500, then the next one, I was went long and had a small profit but didn't sell all, then I was "trying to hold it up again" after it already failed at holding above "R/G" and it wasn't working very well and I got partial fills on some of my exits and never got it all sold, then I was readding again lower still "trying to keep it up" by taking the ask at times and hoping to sell into a small push. It washed out lower, and I already had almost 5000 shares with a bad average (around 10.59), then I missed selling into bounces and got some partial fills on some of my exits and ended up selling some at 10.31, some at 10.28, and luckily, I sold my last 2000 shares 10.50's during afterhours. I turned my $1300 into $500 by forcing that second trade on it after it already FAILED at holding green on the day.
Thankfully, I still finished +$500 today, it could have been much worse, I could have lost 3k on my first VLTC trade and I could have lost a lot more on my last trade if this tanked 50+ cents in the last 15 minutes (like it did yesterday) and I was stupidly in with 4000-5000 shares when there was no reason to be long (lower highs, way under VWAP, red on the day = ZERO REASON TO BE LONG).
The total for the week is about $6600 before commissions, completing another awesome week, I just "strung together" my three best weeks of trading of all time.
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.
VLTC
I already explained some of what happened on this stock in the text above, but I am repeating some of it again here, basically, I missed all my entries in the first 15 minutes and there were probably about 3-5 times where I could have scalped 10-40 cents on some of those first candles, I was just waiting "too low" on some of my orders or I wouldn't "pull the trigger" because everything was moving too fast and I was too slow today. The "big move" that I missed, was from when it held 11.60-12 for a few minutes (11.65 was HOD yesterday which as a key area) and then broke through the 12 dollar whole number and VWAP up to 12.50 in one candle and then up to 12.95. I missed the good entry around 12 and I didn't chase it up into that move. It came back to 11.82 and I scaled in with 2k shares 11.88 avg and it bounced to 12.08 on the next candle, I originally had an order at 12.08 but then I changed it to 12.12 (too greedy), then when I was trying to sell some around 12.05, I couldn't get filled and it went back to 11.85 again, I added 1k at 11.94 ("chasing it on the ask" thinking it would do a quick pop over 12). I had 3k shares 11.90 average and it popped to 12.15, I had an order waiting for 1k at 12.13 and 1k at 12.17, I got 1k sold at 12.13 and tried to sell another 1k at 12.14 as the "best ask" and only got 100/1000 sold. I was too greedy/slow to just sell it all at 12.10, and it went back below 12 right away, and I didn't want to stop out around 11.80-12 for breakevenish after missing about $500 that I would have been. It washed out to 11.21 in one candle and I added terribly into that at 11.72 and 11.41, I had 3900 shares 11.73 avg and it bounced to 11.60 and I missed selling any, it faded lower and washed out to 10.95, I added only 300 shares (just about all that I could) at 11.08, which changed my average to about 11.68. Luckily, it bounced all the way back to 11.60-11.70 and I sold it all there for about a $200 dollar loss on that part (after realizing about $250 on the first sell). I didn't take any trades on it for a while since it was just slowly grinding BELOW VWAP so there's a much higher chance it's still going lower, yesterday it was grinding but ABOVE VWAP, where there was a higher chance it will still go higher. I almost went long around 10 when there was a hidden buyer absorbing a lot of size (probably mostly DerrickJL covering haha), I was wanting it to break and I would get a better entry around 9.80's, it bounced from there and hung around 10.30-10.60 for a while. It looked like it was still "holding" pretty well and could possibly squeeze "R/G" and I tried a different type of trade than I would normally do. There was about 3-4k shares on the ask at 10.45 and the spread was 10.42-10.45 (and it had been trending well between 10.35-10.60), I had my "finger on the trigger" for 2k shares to take the ask at 10.45, someone took some, so then I pushed my order and got 1550 shares filled. I then added 1k more on the ask at 10.50, and then tried to add 1k more at 10.49 and got 200/1k filled. It still seemed somewhat "weak" and there wasn't much volume yet and I still wasn't that sure about this trade (it is not the type of trade I would normally do), so I sold 750 as the "best ask" at 10.54, a little bit more volume came in and I sold another 1k at 10.63, it seemed stronger now and had some volume so I was still expecting a pop to 10.70's and it ended up going to 10.89 and I sold my last 1k at 10.78 for a decent trade of about $500. It failed at holding green and washed out again, I got the exact bottom of the candle at 10.57 but only with 500/1000 shares, I could have sold for about 10 cents but I missed it, then tried to add some more and got partial fills, I had a small profit into the bounce but only got about 700/1300 shares sold, then I added more again and didn't get it all sold, then added more again when it still seemed weak and was looking like it could washout below 10.50, I had about 4700 shares 10.58 avg (from so many stupid adds around my avg "trying to hold it up" when I should have just been selling my 1-2k shares for breakeven). It washed out below 10.50 and traded between 10.35 and 10.55 for a bit, but I missed selling any into that 10.55 bounce by being too greedy, having my orders 10.57 and higher and not hitting the bid when it was "stalling". Then, I was trying to sell around 10.45-10.47 and I got about 250 shares sold with stupid partial fills. I ended up selling 100 at 10.36 (partial fill again) some at 10.31 (about 800) and getting liquidated on some at 10.28 (about 1500) and I still had 2000 shares into afterhours and I luckily sold 1k at 10.51 and 1k at 10.54 for a tiny loss on that part of it. 
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 11.73 | 11.73 | 5300 | $0.01 | $34.00 | 0.05% |
| Long | 10.47 | 10.66 | 2750 | $0.19 | $527.00 | 1.83% |
| Long | 10.58 | 10.47 | 7537 | -$0.11 | -$797.41 | -1.00% |
- Lessons:
- When scalping washouts (especially below VWAP), make sure to SELL ALL into the bounce, as that's all you were looking for, just a small scalp, can always hit the bid if it's "stalling" and you didn't get it all sold or got some partial fills, even if I missed the "perfect top" of the bounce, I still need to take a small gain or breakeven rather than staying in, there is a good chance it will washout lower especially if below VWAP
- A "R/G" squeeze on a down-trending chart will usually only work once, if it goes back red, there's not much chance it will do another "R/G" squeeze again, that was "the move" and it failed to hold, there is no reason to be going long again after a failed "R/G push"
- Do not add to "too much size" for midday grind/lull trading, one candle can change everything and there's no reason to be in that big when it's just "hanging around"
- Do not add to "too much size" just because you are "trying to make it seem weak or seem strong" when are are already in the size that you wanted to be
- Lower highs, way under VWAP, red on the day = ZERO REASON TO BE LONG, only small SCALPS on quick washouts, there's no reason to be long when it's just "hanging around"
- Be careful/avoid being long on a down-trending chart in the last 30 minutes (I got lucky that I only lost $800 on the last trade, this could have easily washed out 30-50+ cents and I would have lost a few thousand)
TROV
Very thinly traded stock with about a 10 cent spread, and it had only traded about 300k shares on the day leading up to this (then it traded about 100k per candle into the spike). There was a ridiculous $80 price target that came out (and was alerted in chat), and it spiked from 8.27 to 8.69 in one candle. I was just looking to scalp the parabolic, I shorted 1k at 8.69 and it pulled back to 8.52-8.55 during that candle but it was too quick and I didn't cover, then I added 1k at 8.75 and still could have covered 8.60's if I was quick enough. Then it went all the way to 9.09, and I added 3k into that from 8.88-9 to give me 5k shares, 8.85 average. It pulled back to 8.80 and I didn't cover any yet, I was looking 8.70's to cover some, it still seemed "weak" and I thought it go lower, so I was patient for a minute or two, looking for that "8.80 break". It broke and I covered 3k right away, 1k 8.76, 1k 8.68, 1k 8.63, then because it is a fairly "thinly traded stock", I decided to just cover then rest thinking that it might perk back up again and I could reshort again higher with a completely new trade. I covered 1200 more 8.66ish (got 800/1k on one order), then took the ask at 8.73 on the last 800 when it looked like it might be "perking", it came back down and hit 8.56 on that candle. I never got back in and it ended up breaking below VWAP (8.55ish) and fading down to 8.20ish.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Short | 8.85 | 8.71 | 5000 | $0.15 | $744.00 | 1.68% |
- Lessons:
- Try to be more patient with 1/4 or 1/2 of the position if it's still "working in your favor", try to exit only when you actually have a reason to (this was still acting weak around VWAP "over/under" and making lower highs but I covered it all just because it's somewhat "thinly traded", and it ended up fading another 30-60 cents)
No comments:
Post a Comment