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Tuesday, December 29, 2015

Trading Recap 12/29/15

Well I traded again today (trading 2 days in a row??) and it was a winner! So that makes it 3 winning trades in a row and one breakeven. My account is back over $600 and I am slowly coming back it seems. I am entering uncharted territory in my trading and I hope for it to continue. I have been focusing more on the stocks I know what to do with and know what is going on in the stock. I guess I am getting to the point of truly not giving a fuck and that is reflected in me actually taking trades.

White arrows are entries followed by exits.

NURO: I saw this gapping on BS news and compared it to the similar news on 11/20 where it went up then came all the way back down. At the open I saw it go to 3 on big volume and get rejected and then fail further so I tried to short $2.8 but didn't get filled but kept the order open hoping for a pop and continued downside. I got filled and it started ramping back up to my dismay. I was ready to cover if it went past $3 and held but I saw it get rejected at $3 on bigger volume and I knew that was most likely it. I would have definitely added there if I could have but since it was under $3 there was no margin allowed and I already went in with my 200 shares. I am not holding that against me (going in too big) since it's the best I can do with the account but I definitely would have been adding into that with risk on premarket highs. My entry definitely wasn't the best but I thought it would continue to fade and didn't want to miss any move. FOMO? Perhaps but I had good confidence that this would fade eventually and wouldn't squeeze or go much higher judging by the news and past history. Anyway, I was being patient since I know a lot of these end up red but I didn't want to stick around for that much and I thought there were other plays (I did end up sticking around and there were other plays..that I didn't touch) so I covered when it looked to start fucking around at $2.57. Right after I covered it made new lows and it had an all day fade. In the future on plays like this I will definitely either cover most and ride the rest or I will just keep all of it and still ride it down depending on what is happening with the stock and other stocks.


FXCM: I saw an ABCD pattern but didn't want to go long since I didn't get in on the dip. However, there was an opportunity later in the day which I missed were it flushed the support, reclaimed, held a higher low, and pushed. With it still holding trend after the huge moves it has had and reclaiming and possibly trapping shorts, it was a decent potential trade.


ROVI: I didn't look at this since I was focused on NURO at the open but it played out nicely and how I wanted it to for the short. It failed the prior day's support and then consolidated and then headed lower. Perfect opportunities to start in and then add to the winner.


WTW: I saw Nate mention that Oprah had tweeted about WTW and the stock was holding trend afterwards, especially after being down so many days in a row. It made an ABCD pattern that could have been longed on dips or the breakout of $18.5.


INVT: This was sort of a miss since I was watching it trend higher for most of the day but was wanting it stay up for an easy short tomorrow. However, it decided to start fading after reaching the prior high from when it last ran. I stupidly forgot to mark that area with a line as resistance and totally forgot about it, although it kept trending higher at that point and with being past 11AM I wasn't too interested in shorting it. However, once it got in the $2.50s and broke the uptrend line it looked like it could come back up but it didn't and had a similar pattern to FXCM yesterday where it looks weak/heavy and has that last lower high before dumping. I saw it in realtime and thought that it might be good for a short but I wanted to be patient for tomorrow. I guess the sheep decided to get out today instead and it broke the important support and faded mostly into the close. Mostly I thought it wouldn't be a good price to short now since it was just in the $2.80s but that didn't matter and I could have risked off $2.60.


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