It's also annoying missing some opportunities and being forced to only go long because there are no shares available to short, like today I had no shares of PTBI (had them yesterday), GEVO, CERE, VLTC (had them yesterday), ICLD, and others. It was probably good that there were no GEVO shares but still would have nice to be able to go "both ways" potentially, but PTBI could have nailed, VLTC could have nailed, ICLD could have nailed, CERE could have maybe nailed (it probably went further than some people expected but then pulled back a dollar off the highs).
I'm not going to explain as much on the trades anymore, just look at text below it to see the trades, usually if it's a very small number of shares it was a partial fill and I just "ditched it" for a small profit/loss. I had lots of small scalps (in terms of cents) today on GEVO because most of them were either a "washout scalp" or a "chase" so I sold very quickly, my only "really good entry" for the "bigger picture move" was at 3.78 and I sold for 10 cents for no reason and watched it go up another 2 dollars.
Not really the best trading today either, I didn't make very much for the amount of size that I sometimes had/amount of shares traded, but had I held my PERFECT ENTRY on GEVO I could have been up huge like I already mentioned. I still don't really know what's the "best way" to trade, I don't really like how I've been trading lately, I want to get better at holding for "bigger picture" moves, rather than just scalping in and out in and few minutes for very tiny profits.
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.
PTBI
Day 3 of this big run, it gapped up from 8.60 to 10.27 open with no news, washed out at open and spiked back up again, I unfortunately missed that "washout long", I had an order waiting at 9.82 and it held at 9.88 and bounced back to 10.50. it still felt "weaker" today and it couldn't get back above VWAP, but I didn't have shares to short. I scalped it long a few times into washouts and missed one of my entries at 9.42 (hit 9.44), and also got some partial fills on them. It "hung around" 8.70-9.30 most of the day, then broke under the lows in the last 2 hours and faded down to 7.85, I bought 1k at 7.85 (the bottom was 7.85) for a scalp and sold for 22 cents on the bounce. Then went long again with 3k shares at 7.50 (scaled in) and it bounced to 7.57 but I didn't sell any, I was greedy and thought it might have a quick "SSR pop" back to 7.60's. Then I added lower, and luckily sold most for breakevenish, then readded some at 7.32 and sold for a small profit. This was a bad trade and I could have easily given back most of my day. It closed at 7.30ish but is now gapping down to 6.90-7.10 range. 
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 9.78 | 9.92 | 1000 | $0.14 | $140.00 | 1.43% |
| Long | 9.17 | 9.31 | 500 | $0.14 | $70.00 | 1.53% |
| Long | 8.94 | 9.14 | 100 | $0.20 | $20.00 | 2.24% |
| Long | 7.85 | 8.07 | 1000 | $0.22 | $220.00 | 2.80% |
| Long | 7.45 | 7.48 | 5700 | $0.03 | $196.00 | 0.46% |
GEVO
Today's "low float runner", 5.5mil shares float, big gap up from 2.45 previous day close to 4.30 premarket on positive news, there are no shares to short, so I can only play the long side on it today. It faded to 3.60 open and washed out to 3.30, then bounced back to 3.65, and "hung around" 3.30-3.40 for about 5 minutes, then broke back above VWAP at 3.45 and made it's way to 4.05, I didn't chase that move and I waited for a dip to go long, and bought 2k shares at 3.76 and added 2k shares "to a winner", taking the ask at 3.80 (using VWAP 3.71 as a guide), then I sold it all for 10 cents for absolutely no reason and watched it go to 4.30's right away. It pulled back to 4.15 and there was a 40k seller on the ask at 4.18, and I was going to "take it" with 4k shares if it was getting "hit", but as I was changing my position size from 2k to 4k, it got taken out, then I didn't take it at 4.20 or higher. It went to 4.80 in the next 10 minutes, then pulled back to 4.48, and I was trying to go long at the very bottom of that at 4.48 but didn't get filled, then it went higher again, and pulled back to 4.57 and I was trying to go long again at the very bottom of that and missed it again, then didn't chase the 4.80 "breakout" and it went up to 5.70 from there, I tried to go long on some of those dips in the 5.25-5.30 area but didn't get filled/would be waiting "too low", I was going for the "dead bottom" prints again and I missed everything and it went up to 6+. Pretty frustrating, I sold my first entry for 10 cents for no reason and missed a 1-2 dollar move on 4k shares = 4-8k, and also missed all my re-entries because I was going for the "dead bottom" of the washouts/dips, I should have just made sure to get in, 2-5 cents difference won't mean much in the "big scheme" of things on such a "big runner". I scalped it some throughout the rest of the day, mostly a washout scalp or a "chase on the ask", I couldn't hold anything for very long because it was either a "scalp" or a "chase". I wanted to go long with 3k shares at 3.78 at 14:53, I put the order in for 3k shares when it was 3.77 by 3.78, and only got 550/3000 filled, then an 80k seller showed up on the ask and I decided to cancel it and either try to get a better entry lower, or take out the ask only if it was getting hit. It came down to 4.74 and I was trying to add more around there but didn't get filled, I was still planning on taking the ask at 4.80 if it was getting hit, but it popped to 4.89 in one candle, I only had 550 shares so I just decided to sell it for 10 cents. There was another big seller at 4.85 and I was going to take it but I was too slow and then it uptrended from there. Then was busy with PTBI and missed other entries in the last hour or so. It closed around 5.50 then slowly went to 5.70 or so in about an hour, then "sped up" from there and parabolic'd to 6.70, pulled back to 6.10ish, and is now back to 6.40ish, such a crazy market we're in, should have some good range/opportunity again tomorrow. I'm keep talking about "taking the ask" on a big seller, I'm not sure if it's the best, sometimes it works, sometimes it doesn't, it's better to get a good entry on the bid but sometimes when a big seller is taken out, the stock will have a quick 5-10 cent pop and then decide where it wants to go from there.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 3.78 | 3.88 | 4000 | $0.10 | $390.00 | 2.58% |
| Long | 5.24 | 5.34 | 2000 | $0.10 | $207.00 | 1.98% |
| Long | 5.86 | 5.91 | 4000 | $0.05 | $203.50 | 0.87% |
| Long | 5.45 | 5.45 | 5500 | -$0.00 | -$5.00 | -0.02% |
| Long | 5.20 | 5.25 | 2000 | $0.05 | $100.00 | 0.96% |
| Long | 4.78 | 4.88 | 550 | $0.10 | $55.00 | 2.09% |
- 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
- 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" (4.15 base, 4.50 base, 5.30 base, 4.90 base/double bottom/higher lows than 4.75)
VLTC
VLTC parabolic'd from 9.80 to 10.80 in about 5 minutes, on some random news (BS sort of), I wanted to short it but didn't have shares (I had them yesterday) and then went long for a scalp, had 10-12 cents on 2k shares and missed it, then it slammed down, and I added once more, then only got 1/3 of it sold into the bounce, then readded that sell, and it washed out lower again and had very little volume and I gave back my $800 profits on the day that I had at the time.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 10.29 | 10.10 | 4000 | -$0.20 | -$780.20 | -1.90% |
- Lessons:
- Big very careful going long after a big parabolic on a "junk stock" that has been trading with low volume and "choppy", if there is no follow through momentum/volume, it'll usually just go right back down once no one cares about it
No comments:
Post a Comment