Last 2 hours of the market, struggling.
Last 2 hours of the market, struggling.
Markets on march 10 , 2016
Short sell $JCOM:
That was a decent move to the downside for JCOM. I was travelling from work to home by train and checking my mobile for interesting tweets and saw that Citron had tweeted a new negative report. Tweet was only 9 minutes old so I fired up my broker account checked the charts and figured that the Risk Reward was pretty decent. With Citron’s latest call on VRX still fresh in mind $JCOM had only 1 way to go and that was down:). Sold 100 shares short. For the first time ever I scaled out 2 x 50. Liked that as well. Pretty solid gain of $449. Erased the loss from yesterday + a nice profit! And that while commuting 🙂
Lesson Learned. Not really a lesson to learn, maybe following the right people on twitter? Oh and scaling in and out that is something worth to practise I guess.
Markets on march 9 , 2016:
Trade 1 $TSLA:
Short entry at 206.80 and stopped out at 209.01. Thought double top so just short it. That was just a plain stupid entry. Stock took off moments after executing the sell short order. If I had a better look at the chart I would have noticed that the stock was trending in channel. I should not have been short biased. Better waited for the proper setup . A break of the low of the channel for a short or the breakout of the upper side of the channel and maybe a break of the former top for a long. In general this was not a weak chart. From yesterday it bounced of a triple bottom. Topped out on yesterdays top, retraced a bit and looked pretty strong. Instead made an early short and failed to execute the proper stop just above the HOD. Result of my stubborness and stupidity a loss of 250$….
Begin to look at the chart unbiased. Find the support/ resistance, channels etc. Then make a decision what to do. Looking for a quick scalp? Short the top of the channel not the bottom of buy the bottom. Place tight stops!
Trading Plan for 12-dec-2014:
Trade Execution on 12-dec-2014:
Trade 1 DVAX:
LONG Dvax pre market on news that Cowen raised Price target from 6 to 60 with remarks that DVAX is extremely undervalued. Without any research I bought in at the offer premarket of 17$. Terrible execution. After 2 minutes research I decided to get out asap. Target raise due to RS …1 for 10. Definitly worse trade of the year.
First research before jumping in with both feet.
Trading Plan for 11 dec:
Trade Execution on 11dec:
ss entry 18.37 based on double top, market down. Put in another ss at 19.27 just above double top to average. But that one did not fill. Put in a bid at 17.16. It only went to 17.22 so did not full unfortunately and price eventually spiked through 18 towards 19. In that spike I managed to get out at 18,17 ish. Small profit.
When the price went down and almost hit my bid the first time and bounced I was tempted to raise my bid to 17.30. Also because less than 30 minutes to trade. However I was stubborn and did not raise it. So I was forced to cover higher and lucky to be not down on the day for this particular trade.
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