It's annoying leaving so much "on the table" on my first VGGL trade, for some reason if I "chase" on the ask, even if it was on a dip, I end up selling super early, the same thing happened on GEVO, even though my entry was a good entry on a dip, I still sold super early because I chased on the ask. I missed going long way earlier on lots of those dips, and I almost bought 3.65-3.70 later in the day but there wasn't much volume and it was under VWAP, but it "trapped there" and came back to the highs. I tried buying 3.75-3.65 the next time it got there and it kind of worked but I never had the best average so a lot of it was just sizing down for "breakevenish" so I didn't make very much. I've been trying to use a bit more size sometimes going 2-3k shares in one order, but if I end up with terrible entries or too much size, I just exit for "peanuts" anyways so I'm not sure if it's really worth it, more size does not equal more gains, it only works if you are comfortable with it.
Basically my best two trades/entries were my long at 3.20 and I sold for 5 cents for no reason and it could have been 50+ cents easily, and my long at 3.92 and I scaled out too early but still made 13 cents overall, it could have been about 30 if I timed it better. The rest were all scalps which weren't really that "ideal", but they still added up to a lot because of the size I was scaling in and out with. I still want to nail some of the "bigger moves" but it's hard to do, I'm not that good at being patient on longs and I haven't had shares to short of most things lately. To get the "bigger moves", you've basically got to be buying it early and being patient with it or buying once it's lower volume and it's holding support and "no one wants it" and hoping for it to "rip back up again", or shorting at the highs when it's topping out and everyone "wants it" and covering into washouts/low volume grinding. I'm not very good at holding onto a long when it's "early", it's so hard to know what's going to be the "big runner" or how far it can go, and I'm also not very good at holding onto a long position when it's just "low volume" and hoping for it to "rip" back up. I want to improve at "ABCD" longs, but I just don't like being in the "grind" very much and I have very little patience, there is a TON to be made in this market with being patient when long on "big runners". Right now, it's basically "buy high, sell higher", it won't work forever but that's how it is currently. Shorting at the highs into parabolic's when everyone wants it and covering into washouts/basing/grinding is what I'm good at, but it's super frustrating not having shares to short on almost anything lately. I'm forced to only go "one way" or "no trade" on all the big range $3-10 dollar stocks that have been "in play" lately, VGGL, PTBI, GEVO, CERE, ICLD, to name a few of the ones I didn't have shares to short again today. The borrows used to be decent with Suretrader (ETC clearing firm), but lately it's been pretty bad, I maybe have shares to short on 1/5 of the stocks I've been wanting to trade.
PTBI long and ZU short were two "bigger picture" trades that would have worked out well today, but I didn't take any entries on ZU, and I had troubles "chasing" PTBI "high" and hoping to sell "higher", I should have already been in with a good entry near support/VWAP.
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.
VGGL
Big former runner, low float (about 8m), with positive earnings results today. It gapped up from 2.37 to 3.07 open, it hit 3.20 at the open, then came back to 3.01, I originally had an order to buy 2k shares at 3.02 but then I decided to change it to 2.98. It held 3.01 and went back to 3.28, then dipped again to 3.15 and was holding VWAP (3.15) as support, some buyers came in and I "chased" 4k shares long on the ask at 3.20. For some reason, when I chase on the ask, I have zero patience, I sold some right away and then "ditched" the last 1k at 3.21 when I should have been readding more with a stop at 3.15-3.18 (VWAP was 3.18). It spiked up from there and eventually went to 3.70's, dipped to 3.58 and I missed that and it went higher, then it dipped to 3.65 and I missed that and it went higher. Those were the opportunities for a "bigger picture" long trade and I sold early on the first one and missed the other entries. The rest of the day I was just scalping dips and washouts for decent profits just because of the size I was scaling in and out with. Better trades to take would be buying when it's holding "over/under" VWAP (3.73) and support at 3.65ish (at 9:58, 10:48, 11:08, 11:37, and then later at 13:52 where I did trade it), have a set risk at 3.60ish and then be patient with it, and you'll be "taking profits" when everyone else is "chasing it up" higher and higher from 3.90-4+. I am not going to explain every trade, just look at the text below to see the entries/exits, I could have scalped it for 5-15 cents many more times as well but I was already up a lot from not really that great of trading overall, I mean most of my entries where just an average "washout", I could have easily done that another 10-20 times if I wanted to, but just didn't want to get it "dead wrong" that one time and give a lot back. Obviously looking in hindsight, but buying at support (3.65-3.70) and being patient with it and could have made 20-50 cents 3-5 times, it basically traded in a 3.65ish to 4.10ish "channel range" for most of the day, "short near the top of the range" and "buy/cover near the bottom of the range, but obviously you never know if it's going to have the big "breakout" or big "breakdown" but I guess that's why you manage your risk and have stops. The volume was crazy today, 40m shares traded, the most it traded before on it's "big runs" was 15.8m shares in a day, the float is 8m, so about 5x "float rotation", guess we'll see tomorrow if this is another "one and done" or if it's got a "multiday run" in it.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 3.20 | 3.24 | 4000 | $0.04 | $154.00 | 1.20% |
| Long | 3.88 | 3.93 | 9100 | $0.06 | $529.00 | 1.50% |
| Long | 3.78 | 3.84 | 2000 | $0.06 | $120.00 | 1.59% |
| Long | 3.83 | 3.89 | 3000 | $0.06 | $180.00 | 1.57% |
| Long | 3.70 | 3.81 | 2000 | $0.11 | $221.00 | 2.99% |
| Long | 3.92 | 4.05 | 3000 | $0.13 | $390.00 | 3.32% |
| Long | 3.96 | 4.00 | 10000 | $0.05 | $470.00 | 1.19% |
| Long | 3.76 | 3.81 | 16700 | $0.05 | $871.20 | 1.39% |
- Lessons:
- Be patient on a long position on a "big runner", only sell when YOU HAVE A REASON TO, try to get better at "letting these work" and holding onto a winner for a few hours (I had a good "early" entry on this, 20 cents off the lows before it ran over a dollar, but I sold for "peanuts" for no reason)
- Can always buy a "bigger runner" when it's holding higher lows ABOVE VWAP, with risk under the base/previous low, then be patient with it, sell into parabolic's or when it makes a "lower low"
- Be aware of VWAP "over/under", often it will act as a "magnet area" and if it holds that area, it will likely have another "run in it" (as it did midday around 11:10-11:40), also be aware of a key "line in the sand support area" (3.65) for going long and/or covering a short, every time it holds that level, it pops right back up 5-15+ cents
PTBI
I wanted to go long on a washout in the 7.40 area but I had my orders in too low sometimes or didn't get filled, but I would have probably sold for 10-20 cents anyways. It held green (7.34 was previous close and it hit as low as 7.40) and perked through VWAP (7.74) and squeezed all the way up to 8.30's. It would have been a good long chasing there at 7.75 or later on dips/basing, I missed all that and then scalped two washouts. It held "over/under" VWAP (8.15ish) a few times then spiked from there up to 8.80's and eventually 9.60's. Two places to "chase" were at 8.60 and 9.25 I guess, I didn't chase either and it went way higher from there. It's much better to already be in with a good average and then choosing where to sell, "buy at support" and sell into rips, can always buy at a base with risk under the base, that seems to work well in this "hot market". Also, it is is now gapping up to 9.90, I thought about buying it for overnight/afterhours, but I would rather just wait to trade it again tomorrow.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 8.34 | 8.42 | 1000 | $0.08 | $80.00 | 0.96% |
| Long | 8.17 | 8.28 | 1000 | $0.11 | $110.00 | 1.35% |
- Lessons:
- Can always buy a "bigger runner" when it's holding higher lows ABOVE VWAP, with risk under the base/previous low, then be patient with it, sell into parabolic's or when it makes a "lower low"
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