Trading Recap 5/14/15

Today I got a new lifeline on my account and made a decent gain while also killing my losing streak. I just traded one stock and while there was a lot of other stuff going on today, I thought this was the best setup at the time. I might have missed other stuff that might have netted me more money but whatever. I am just happy to get an extension from blowing up.

White arrows are entries followed by exits.

ACRX: I saw that it was gapping up in pre-market with some BS news and I had actually said screw it since it wasn't on many people's radar until I saw it mentioned again in chat and thought it might be a good play. It setup perfectly out of the gate and when it cracked for nLODs I shorted 1k shares (all my BP) at the retest of support around 3.43 and was never down on the position, I think. I thought this would fade nicely, possibly to 3, but the lowest it went was 3.23. I ended up covering at 3.3 since I tried to be patient but saw it making higher lows and I needed a win so I took my profits, which was the right thing to do, especially since it just screwed around the rest of the day. It was a slow mover since it was not on anybody's radar but it made it a great trade for me since it moved slower so I could use full size 1k shares without too much worry.

Things to work on:

1. Nothing really of note here. I played it pretty well. Just keep the green streak going.