I posted all my trades everyday on this blog for three months (March, April, and May), then took a break for two months (June and July), I was thinking about starting it up again for August but I only posted four days worth and decided to stop doing it again. The blog will always stay "up" for anyone to look at, but I will not be doing any new posts for a while unless I decide I want to start it up again. I will try to post the occasional chart on twitter as I did on August 13 with EBIO, https://twitter.com/JGram135/status/631877082201456643. Please email JGram135@hotmail.com if you have any questions about trading in general or about the trades I took, I will try to do my best to give brief explanations and share screenshots occasionally. I'm no expert and I think there are lots of better traders out there to learn from, but I will try to do my best to help if I can. I hope this explains things a bit, so you aren't looking at the blog and saying "when are you going to post again?" or "you're a little behind on the blog posts." Thanks for reading and good luck out there.
Actual post from August 6th, 2015:
Awesome day, I actually "pulled the trigger" near the open and actually sized into a trade. My main watches were WTW and GENE, looking for a "gap and crap" sort of play, I really tried to focus on those, as I thought those were the best opportunities that are my "style of trades" that I'm comfortable with. GENE didn't really "pop" enough so I sort of chose WTW, looking for a fade similar to July 6th, 2015 with the gap up (that I also made some on).
I was away from the computer for quite a bit of the day and tried to force myself not to trade anything unless there was something "perfect", I came back around 2 PM and I could have easily nailed a 6.50-6.80 short on RCAP with the intraday "bad earnings" results and halt but didn't take it. Oh well I guess, hard to really know what's going to happen, the only "edge" seems to be shorting these early on but even then, something crazy could always happen. Best to short it early with small size and somewhat of an idea of risk or just avoid, pretty much the only decent way to play these it seems. I didn't want to do anything stupid because I'm up quite a bit, didn't want to force anything, I always seem to lose on these "news plays" (I had some of my biggest losses on these last month) so I'm trying to have the discipline to not trade them for the most part.
Basically "three trades", and the last trade done at 11:20 AM, very stress-free day, biggest day in the last month other than my KONE and NYMX days, I forced myself not to over-trade and give it back, quite happy with 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. Using two monitors can be useful (one for the full-screen chart and one for the text/trades), that's how I personally do it whenever I am reviewing my old posts.
WTW
Gapped up from 4.46 to 5.60 on positive earnings but this stock is very "beat" and there's a lot of bagholders, last gap up on 07/06/2015 faded from the open and I was looking for more of the same.
Type
|
Entry
|
Exit
|
Shares
|
+/- $Amt
|
$ PnL
|
% Pnl
|
| Short | 5.42 | 5.16 | 8500 | $0.26 | $2,177.50 | 4.73% |
The action was pretty jumpy in the first 5 minutes, ideally I would have gotten in 5.55-5.65 on the lower high with risk on HOD, but I sort of missed that/wasn't sure. I "chased" (hit bid) 2k at 5.50, risk 5.60ish looking for a washout/fade on the 5.50 and VWAP rebreak, I covered 1k at 5.22, then readded much too early with more size on the bounce (especially 1k at 5.32) since my idea was working and had some small profits ("house's money"), looking for VWAP "over/under" to fail again and 5.20-5 (or lower) was my ideal target. My readds weren't the best overall but it worked out okay, I had 6500 shares 5.44 average and I covered 5.23-5.06 with another 1k add at 5.21 in there.
- Lessons:
- Can cover ALL if you get a big washout like that, then just look to reshort again on a bounce
- Don't be too quick to readd covers right after a big washout
CAPN
Had no news that I could find, I think it was just a total "short squeeze" on this "low float former runner", that's coming right off the very lows on the daily and off the 1 dollar whole number and also had SSR and was easy to borrow which helped add to the squeeze. I was going to "bring the hammer" on the short (5-10k shares) at 3-3.20 (because I can use more size above 3, there are margin limits under 3 with Suretrader), I had one order waiting at 3.02 for 1k but the top was 2.98 unfortunately and I didn't take it 2.90's/2.80's/2.70's before the big washout.
Type
|
Entry
|
Exit
|
Shares
|
+/- $Amt
|
$ PnL
|
% Pnl
|
| Long | 2.42 | 2.51 | 5300 | $0.09 | $478.50 | 3.73% |
Risk was 2.35-2.40 (VWAP was 2.36), initially 2.45 avg 3.3k shares, sold 2k 2.50ish when it still seemed weak and rebought those at 2.36-2.37 looking for 2.40 reclaim, then 2.50 reclaim and ideally 2.60+ (held VWAP and has SSR on and is a "crowded short", these can really bounce/squeeze back up, as I usually experience when "stuck" on the short side). I ended up selling it all in the 2.50's a few minutes before it popped to 2.60's, but I just didn't like how long it was taking and thought it might snap back to 2.40-2.45 with one "SSR candle", I would rather take 10-15 cents profit than have one candle bring it back to my average.
| Short | 2.68 | 2.35 | 3100 | $0.33 | $1,012.50 | 12.19% |
Risk was 2.70ish, I was trying to be "early", scaling in on "pops" looking for the "uptrend break" (I had that trend-line drawn on there in real-time) and 2.50 retest and break and also the 2.40 (around VWAP), retest and break. Worked out perfectly, covered 2.1k shares a bit early around 2.40 and 500 at 2.30, 500 at 2.20.
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