Trading Recap 5/29/15

Well, that's a wrap, folks. I blew up in spectacular fashion due to my own stupid thinking. I'll be out of the game for a while probably unless either: a) there is a huge runner that I go long with 100 shares and get back to over $500 or b) somehow get money to refill since I am broke by selling a school laptop that isn't even technically mine yet. I had a lot of foolish ideas of how I would come close to that $500 mark and somehow make it from there and while it was possible, I just was somehow too stupid to do it even in this crazy market. Anyway, I'll probably take a minimum of at least a week off from trading unless some runner does appear. I have around $250 in my account now with no margin. My stupidity caused me to have my biggest loser yet because I was already in that "fuck it" mode with being so close to $500.

Anyway, here are my horrible trades for today.

White arrows are entries followed by exits.

HRTX: Didn't even know this was a crowded play but anyway I saw on twitter that the data they released was junk so I had a short bias. Also, if you look at the weekly chart it has pretty good resistance around 18. In premarket it went to 18 and came back down and opened around 17.2. I saw that the 17s were basing and when they fell and retested as resistance I thought I was good and entered a short with 17 over/under. For a little I thought I was good until it came back and popped through 17 all of a sudden and I covered. This loss combined with commissions had me at just above $500 and I thought well Monday it will either be do or die.

Until..

VBLT: I lost money going long. Yes, that's right. After all the money was made going long from 7s to 8s I monitored it to see if there would be any continuation. I saw an ABCD pattern forming and decided to go long after the C broke. I didn't think this was such an extended chart since the daily was flagging so I thought it would be ok to buy since it wouldn't stuff and we are in the market for things to run anyway. Well, I was pretty fucking close to top ticking it (top was 8.69 and entry was 8.65). It came back down immediately after I bought it but I thought it might just be setting up for a nHOD. I also thought that if this doesn't work then I'm done and under $500. Not even a breakeven would save me since there would be $10 in commissions at least. However, I didn't care to think and say "well, if I cut if off even if I am under $500 I can refill a little and get back". So I stuck with the trade as it flushed and I had my biggest unrealized loss and at that point I just said fuck it. It spiked up a few times which gave me a little hope of a rebound but it just fell and I ended up selling after my stop limit at 8.05 just didn't get hit as it flushed a bunch past that. Total loss of $255 + commissions. Very stupid.

Things to work on:

1. Get more money somehow so I can probably lose it all again.