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Got out of RWLK. Looking back I must not have paid any attention to the volume -- just not enough to support any moves. Result -15% Yuck!
SPY continues its fade to the down side and continues to move through S/R lines. I'm sure that didn't help the RWLK trade but -15% !!! F!!! I let that one go 'cause I was looking at the $ amount and not the % of the loss. Can't let that become a habit. Gotta stick with the % of the move.
This GSAH position is weighing on me. Took it as a buy and hold until news of a merger but like most blank SPACs it's following the market - makes sense, what else would be pushing the price action. So going to have to cut it loose right around the $11 or under and cover that with an options entry. That will screw my metrics big time as the exit will show as a large loss but I need to loosen up some equity for day trading. The upside is it will force me to start trading options more often.
T - another failed trade. Took a starter position on an alert at opening bolstered by news. Weak news but news none the less. Let it ride up and then added on a pull back using R-PB strategy. Then I really messed this one up. I missed my exit and decided to ride the pull back for an add. I missed the add and entered on the way backup but way later than I had any business entering. All of this taking place on decreasing volume. I then made a hail mary move and rode the price down waiting for a third pull back.
Again, a very small $$ loss which is what I was playing instead of the % but if I'd paid attention to the strategy I would have been green within the first 40 minutes instead of fussing around for almost two hours only to lose.
I've lost focus over the past few days. I can see it in my written trading notes that I take during the day. They are incomplete, no clear designation as to which names are my picks from out of the scans, no trading tickets showing me proposed entries and exits, no checking off the moves made.
Taking tomorrow off to figure out which strategy I'm going to focus on for the coming week. I'm trying to trade three or four different strategies and doing a lousy job on all of them. Also have to take into account the change of the type of market from up to sideways and threatening to move to a downward trend. Way more difficult to trade this type of market.
F - cut it loose at a tiny loss of $23. Gotta clear the decks and clear my mind. Decide what strategy will work best for me and for me in this market. I fully expect the market to bounce off of the macro trend line from March and take a shot at the SPY 400 level but that may take the remainder of March.
GSAH - bought far out options to cover my position
Can you help answer these questions from other members on NexusFi?
Bought a starter position in GE with a long swing in mind. I like the direction GE is going as a company but more importantly, price just cleared the high set in later part of Feb 2020. I fully expect price to come back and test that former high. Such a move will also give the D20ema time to catch up so price is not so extended. I'll plan on adding on that dip. We may also see (hope hope hope) SPY retest 400 between now and the GE dip. Perhaps even close over, retest, and move higher that 400. I think GE would respond well to that.
Otherwise I found I'd lost confidence in my strategies and was simply staring at the screen so at about 10:15 I took the rest of the day off and worked on my scanner.
SPY being fickle again. After moving nicely to the up side Monday, it then closed at Monday's lows in no uncertain terms and drifted sideways post market. Today it gapped up right at 4AM, (Monday's closing shorts being squeezed just a bit?) then moved sideways, threatened to go down, and has moved up up up since open into the lunch hour.
I made a few $ on FEYE day trade (literally -- like $20) Nothing else in my wheelhouse seemed to be confident of moving clearly up or down. I'll take the rest of the day to catchup on documentation. Will move the GE trade to my margin account to save on the PDT allocations since GE will stay in my portfolio likely til the end of March. Need to look into options a lot more. Still not comfortable trading them. Taking using options to hedge I sorta got but even that simple strategy is a bit foggy.
That's it for today, I think.
Nope. Opened a small swing position in TRVG. Not the best volume profile on the daily but sudden increased volume on the intraday charts. Yesterday news saw a large increase in IV and it is lifting off the D20ema after a pull back $5.23 is the first macro pivot so it's worth giving it a try with a stop at today's low.
In the first screen shot (which is of the Daily chart) the white line at the top is the pivot going back at least three years. The volume makes an extreme appearance and continues to be high though it is steadily decreasing which was my hesitation at first.
The the following screen shot is of the 5M chart. I entered the position right around noon roughly 30 cents above D20ema -- a bit more than I like for my strategy but acceptable. The pull back to VWAP is exactly why I didn't like entering so far away from D20ema but on the other hand, it was just returning to VWAP as the market got soft in the afternoon and it is a swing trade and I am prone to giving swings more room to breath than day trades.
I'm happy with the green around 14:00 both in terms of the size of the move and the increase in volume -- someone is very interested in TRVG.
March 10 2021
I liked my trade management today. All small sizes as I rearrange how I trade from stock selection to monitor real estate layout and my pre-market trade tickets. Grabbed a few $$ from CETX within the first few minutes after the bell. Scaled in and scaled out using R-BP strategy, a variant of Fibonacci. One weakness I have now plugged is that I exited the last portion of the position on a return to VWAP. That was wrong in that the stock was respecting the 10M13ema, not VWAP. I likely would have made a few more $$ in this case. Regardless of today's trade, I've added a place on my trade tickets to ID the respected MA for each trade.
Not much happened today. Put SIEB, CLNE, VET, and BCRX at the top of the watchlists and then took a chance on RIOT moving. It moved but against me and I stopped out at right around b/e
Was supposed to be a popcorn day for watching the SPY settle in to consolidating before the big push to 400 and beyond. But instead I put GOEV FCEL ALT MVIS and PLTR at the top of the watch list and ended up taking a full position on GOEV JETS and FRSX as they all tripped alerts to the upside on either M20 or IPO strategies. Allowed a large draw down on both GOEV and FRSX as I got in about 20 to 50 cents too late (still ok with that given the upside potential) and I was willing (but not happy) to give them room to breath down the their respective D20ema.
The only worrisome thing is GOEV snuck back under the macro descending trend line that sits right on top of a short but meaningful S/R line and is right by the D20ema. So it's trapped again. The alert was to let me know that price had cleared all those hurtles, which it did (and is the only thing that gives me hope for Monday) but it was NOT supposed to drop right back to the day's starting line.
I now have four swings right under the SPY 400, two of which have drawn down and two of which are having a bit of a time getting up of their butts and moving into the green. One bright spot is that the options on GSAH moved up today. Bad thing is that the move was without news so it was likely the boys in the backroom at GS fiddling with their options. NOTE to self: Don't mess with a SPAC that has not yet made a deal -- the waiting sucks not to mention side lining my money while I wait for a deal to be made.
Arrrgh! Looked like a reasonable but it wasn't. Market seems to me to be very skitterish -- I'm assuming because we are so close to SPY 400 and the Fed is supposed to speak tomorrow. Done for the day early at break even on one GOEV trade.
Was not around to see the SPY (and the market in general recover after the Fed spoke soothing words. That's fine. Nothing I wanted to trade reacted to the words.
I tried a trade on the NTF OCG and that was a miserable failure. Waited for it to break a previous high and for the pull back, or rather, what was in my mind supposed to be a pull back, and because of the volatility of the instrument I let it go down to the full extent of my stop loss and while I stopped the loss it was after quite a loss. Fucked that one up. Ony saving grace was that it continued it's travels down so at least I got out at my stop loss. Screen Shot 03-18-21 at 12.27 PM
