Trading Recap 3/31/15

Well today I gave back all my KRFT gains on GENE. I did that by trying out size for the first time (1k shares). To be honest, if I was more careful it would have worked out. Now I have some set rules that I will definitely follow when using size as I have learned my lesson. Ultimately though, I am glad that I was able to press place order no matter the outcome. I had many opportunities earlier in the day where I could have used size successfully but did not take them until way later in the day where most of the move had happened. I was looking for scalps with my size.

White arrows are entries as discussed below.

GENE: I actually might have called the top on GENE by looking at the level 2. When it went to 5.74, the L2 looked different from the prior times it made nHOD. It didn't "refresh (not sure how else to explain it) like the other times it went nHOD. But for using size that wasn't enough evidence. However there was a lower high that was definitely shortable and it worked if you held. The other place I saw was when it tested 5.50ish for the fourth time and instead of just rebounding off, it sort of hung around there and I said to myself "this looks different from the prior times" and apparently I was right. I then sort of chased and shorted 5.23 because it was about to crack the base which it did but I put my stop at breakeven which triggered by a penny before promptly coming right down like I intended so that was aggravating but at least I was flat. However, I shorted again at 5.09 looking for the 5 wash and it came to 5.05 which was the base and it held this time and instead of putting a breakeven stop like last time which screwed me over I kept it on and let it go against me a bit until it spiked and I ended up covering at 5.20. Funny how something that was supposed to be a scalp turned into a decent loss. I think all losses start that way but at least I didn't add to it.

Things to work on:

1. When using size, always put breakeven stop or slightly above breakeven right away. If it doesn't do what you want right away take it off right away with size.