Trading Recap 8/31/16

Today was a good day. While it wasn't a monster green day, it was a green day nonetheless and my process was solid. I was very patient with stops and added at appropriate times. Nothing else to say really. I traded the best stocks. There were some ideas I had that would have worked and some that didn't.

BZUN: I had this on watch due to the overextended chart. I saw it pull red and under vwap which was a good sign based on prior days where it held vwap the entire day. So I started in and got a wash but was looking for a big picture idea so I wanted to add on a retest of the prior lows at the .20-.30 area. I added in when it looked to be rejecting at the time but it did go a bit higher. My stop for the add was .30 o/u. It did pop up through it but I held firm and I got the wash I was looking for. I took the first wash in case it bounced all the way back. It did end up washing more all the way to 12 but for now I have to lock in on things like this.

VEEV: I had this on watch due to earnings/guidance being good. I saw that prior times it pulls back and then goes back, possibly due to profit taking. After it fell off the highs, it consolidated and had a good pattern going. I drew a trendline and while I was debating getting in before the trendline broke, I didn't want to waste my time if it never broke it. After it broke and had a higher low, I got in with risk to 40 over/under. If held higher lows later so I added a little more. It really tested my patience and my ability to stick to my stop. My stop on the add was if it cracked the two prior lows above 40. It did do that so I got out of just the add, unfortunately that was a bottom. But I still held my initial. It did move around quite a bit and each time it looked like it was breaking out it came right back down. Eventually, it looked really good then came all the way back to my entry after stuffing at vwap. I just sold there for flat on the add. That too was also a bottom. It didn't do much afterwards but it did grind higher slowly. It wasn't worth it for this, I thought it would go back to 42. But either way it was a good process and entry. My stopping out could have been better but this was quite a tricky chart.

SPU: I thought this would be still stuck with shorts so I did chase small size when it looked good, but it didn't work at that particular time. They really worked over both sides until it decided to break out. I knew with the SSR on not to chase a potential breakout which is why I did it with small shares and was definitely not going to add. It did look like it was done afterwards on the level 2 but it never came and from there it had a nice pattern of holding up towards EOD that I saw but I didn't think it could do a lot in 10 min but I was wrong.

Things to work on:
1. Trade the best
2. Continue being better with being true to stop