TWLO: This was the only stock I traded today and felt really comfortable with and had a strong idea of what was going on (besides ACIA which I felt even more strongly about but didn't do anything with unfortunately). I was mainly looking to go long the stock after it had setup with higher lows/consolidation. I looked at the charts of GPRO and FIT when they were first moving and GPRO had a very similar chart and I knew TWLO could continue higher, especially with everyone wanting to short it. I let it rip in the morning, although I was thinking of getting in as it went green but decided against it. This is also one of the stocks that you have to just get in even with chase size as the moves can be quick. After it made the first rip higher it came back down and hovering around vwap. I went long when it looked to be breaking out because of what I just said. I had small size and was going to give it a little room. I did end up buying the top of that particular candle, unfortunately, so that is still something I have to work on. But after it consolidated more for a bit, it looked like an ABCD pattern so I bought more after it broke out of the consolidation/flag on the 5min chart. I sold into the push in order to take the profits I had and lock it in because for now I want to start building that buffer and confidence. Later in the day I saw higher lows and it looked very good for a breakout again. I wanted to buy dips but didn't end up buying dips to $51 but I did get in a bit higher. I then added when it broke out and it sold because of the big volume candle on the breakout and level 2 action. That was my last trade in it. I did see a nice pattern right after the dip from $52 that I thought about rebuying but I didn't and it would have worked but I decided to take a walk instead and not push anymore buttons.
Other stocks:
ACIA: What a miss. In the morning I didn't really have it on watch because I wasn't so sure it would pull back. Everyone was mentioning how it will pull back (like TWLO) but it was up a lot so I didn't want to buy either. I saw that it stuffed everyone into the 92 area and pulled back. I told myself if it failed vwap, then any pops after that I would short otherwise I don't trust it for a short. Well.. It ended up having higher lows as we got closer to 4pm and it was holding up nicely. It was a very similar pattern to TWLO that I played except with this.. this was a low float "legit" stock with 1/3 of the float short. I knew this could squeeze big towards the $100 magnet (which is exactly what happened) but I was too scared to play because of my already positive green day. Perfect parabolic as well.
REN: I was not so sure about the short on this one that everyone was so confident about. It went parabolic a couple of days ago and still held up afterwards. There was no more shorts to squeeze when it goes parabolic like that so something else was going on. I don't know what but this was evidenced by today when it still held up and didn't do too much. I wanted to short pops after vwap fell but I just never did. If it went red and peaked, then that might have signaled to me that it might be over and then I would get in but it never did that.
JWN: Another miss. After looking at the charts of the other retailers and how they reacted and pushed higher, I wanted to get long on any higher lows. This had a nice pattern of reclaiming vwap and holding there. I wanted to buy the dips to vwap but just didn't and it pushed very nicely. I was thinking of buying dips higher but decided it would just fuck around the rest of the day since it already had its move and I was right on that so that was good.
EXAS: I was looking to short this on any good push and while it did offer a nice short I wasn't comfortable with it for some reason and it did just end up doing nothing for the rest of the day. My thinking was if it was going to pull it would have done that from the open and when it didn't I lost interest.
VRX: I didn't have much of an opinion on although I was thinking it could go lower and I would wait for lower highs. It had lower highs and I was thinking about but then it just went straight up and still don't know what on. I thought about scalping the parabolic but didn't and it did push higher before giving it all back. It might have been because the SSR was on and I didn't feel like dealing with especially when I wasn't so confident on it.
Things to work on:
1. You know how to trade well but your mindset is blocking you from fully achieving what you want. You need the Gorilla Mindset! One thing that comes to mind that I was just reminded of is to rehearse the worst scenario in your head and visualize it. If you are afraid of taking a trade for irrational reasons then do this and realize that it's not the end of the world.
2. Don't trade your PnL when you are up either! Always remain calm and evaluate the situation with logic and not emotion.
3. Be patient for the entry and the setup to form - no FOMO! If it goes according to your plan then act, if not then fuck it.
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