SAEX: This was pretty much a carbon copy of what happened on OPTT yesterday. I had it on watch because it was gapping up and holding up compared to the other junkers. I had a very good first entry on the stuff near the open and it immediately washed out. I wanted to be patient though which while in the end worked out I should have covered and reshorted because it was quite a big washout and it happened quickly. What ended up happening was it retested vwap and it failed so I added in there with the add risking vwap over/under. Unfortunately it went quite a bit higher and retested the highs where I covered everything due to having a case of the "what ifs" and it being right at the HOD but it never broke to nHOD. I then saw it might have stuffed due to the huge volume again so when it went under vwap I reshorted and then covered near the lows to make back my loss on it from before. Pretty much the exact same thing as OPTT. Oh and the big fake bids were here too. Lesson: When a stock washes out like that just take the money because it will most likely rebound for another entry. When a stock goes higher like this, similar to OPTT, either add for low additional risk if it doesn't work or just sit tight. It's not much different to get out 10 cents higher if it makes new highs. No what ifs here and while you gave it enough room on the add you shouldn't have stopped out of the initial.
ARIA: I have been keeping this on watch. Today it looked like it had failed follow through momo so I shorted when it looked weak and then added when it went under vwap and consolidated. I was pretty patient with it and the market helped but it didn't go as far down as I thought but there can be more downside for sure. I remember it made a new low by a penny and then reversed back up quickly. I thought that was it but gave it the room because I knew thesis > price action and it did end up working in that instance. While I didn't get out on dips and covered when it popped up, it's ok because I was waiting for it to really go lower, possibly like EXEL, but when it wasn't doing that I just put stops above prior highs to get me out. I wish I had more size of course given the feeling I had but only on proper entries because you never know what's going to happen. I probably should have waited for more of a clear sign to cover like at 2 after it reclaimed the support from there. Lesson: Thesis > minute price action, look for better areas to cover (partially hindsight of course)
GNCA: I only shorted this on the second stuff. I saw the first stuff but didn't think anything of it although I should. It washed out then a new price target came out it stuffed pretty hard into r/g so I shorted then. I got a nice washout but was looking for more and put a breakeven stop that was triggered. It hovered around for a bit - went a little higher then came back down. Then it tanked to 5 as I was looking for. So I had the right idea but my timeframe for how long it would take was off. I will note this going forward. Part of it was I wasn't so confident in it and didn't want to lose money in it but that's a mistake. Hard to say really. Lesson: Not sure if anything can be said. It did work out but it just took a while and could have easily not have worked. It never triggered my stop but these are the grey area trades.
Things to work on:
1. No what if!!!
2. Give things enough room.
3. Be prepared for the worst, hope for the best.
4. When you get a big move in your direction quickly, just take it and look for another shot when it rebounds/dips again if need be.
5. Don't stop out of initial when the initial's stop hasn't been triggered. Possibly add at the spots you would cover.
6. Thesis > minute price action. On ARIA the stock made a new low but then came back quickly. This time it went lower afterwards which was different than the BBRY trade. You were a lot more confident in this trade than that one.
7. Stay in the present!!
No comments:
Post a Comment