TWLO: Going into the morning I was short biased and wanted any pops and lower highs to get short. I heard cramer had been pumping it so I was cautious and wanted to short on any pops in case there were market buys around the open. It pushed up at out of the gate a bit and I hesitated to short it and missed the trade. However, it then came all the way back and made a new high briefly before coming back down. I anticipated that they would need to work shorts out so after there was no followthrough with the new high I shorted there and added along the way to the winner. I did get too aggressive adding perhaps and should have waited although it's all in hindsight. It could have easily continued flushing. But it was a good cover after it was holding up because it continued higher. It went through 61 again briefly and came back down a bit and thought it was a good reshort point but it really was just FOMO and not letting things play out first. I realized it was a stupid mistake although it was a stupid mistake with the same amount of shares as what the prior win was so I barely was up on TWLO at that point. While I was busy with another stock I missed the backside of this with the push back to 64 then a lower high at the previous resistance point around 61-62. From there it dropped nicely to support. Afterwards what was good was I let it chop around in a range and while I could have shorted in it, it wouldn't be worth it. However, by late day a nice pattern of lower highs formed so I got in and when it cracked I added in. This part is where I describe above as it moving 20-30 cents (while still below support and retesting resistance) and I exited half my shares near the top of the retest. This wouldn't happen with suretrader as I would just wait it out but I need to control my emotions better and realize it's not a big deal. I was too impatient to add though and should have waited for pops or just stay at initial size - or just done 50 shares from the get go since it's not a big deal.
YY: This was the big winner for me. I had it on watch since it was overextended and it gapped up a decent amount. I didn't watch it at the open unfortunately but after it had gone red I saw a great pattern of lower highs at the lows and thought it could easily go lower. I sized in quickly to the winner and had a great cover - overall great trade. Maybe I could have done half off and let the rest ride but for now just have to lock in the gains as per plan.
DKS: I had this on watch due to overall strong earnings/guidance/revenues going forward. Any consolidation pattern or higher lows I thought would be a good long entry. I missed the initial vwap reclaim but then saw an abcd develop later in the day. After it triggered I got long small size because I wasn't so sure about it and could easily add if it held up. I gave it big room to work with the small size. It never really invalidated the stop but I had a feeling it wouldn't work. It is tough to balance between sticking to your original plan and actually adjusting it as needed. I decided to just get out on a vwap pop and fail. It ended up being a good choice as it was a very small loss and my time wasn't wasted staring at it. I thought I could always go back in if it sets up again.
ACIA: This was my main loser. I shorted after it peaked 99 because I thought it would head lower. I only had small shares so I thought it would be ok. I figured it was an "easy short" - that usually screws me over. It ended up consolidating and then shooting up out of nowhere. First it shot to vwap and that was ok but then it went higher and the "what if?s" started getting into my head - what if it spikes higher? what if I lose my gains for the day? etc. So when it looked to be holding vwap on the 1min and wasn't coming back down right away I covered for a loss (in grand scheme of things not a huge loss of course - have to remember that). Anyway it ended up going higher and I left it alone. I still don't know what the right thing was to do in that situation - was it emotional? there was some emotion involved for sure but overall did I follow the plan to get out at 99.50s/100s over/under. At the time it looked to be holding so I got out when I could so I'm not sure. Overall though it wasn't a good trade to make. I did like the stuff on volume on the retest which is what mostly got me in but I guess it didn't matter.
Other stocks of note:
EBIO: I chose not to watch this at the open and by the time I saw it, it was a little lower but still would have been a great trade. It was classic rehash of old news and sell the news.
REN: Still haven't shorted it and you have to short this when everyone wants it because it will squeeze you out if you have FOMO and chase it short.
EXAS: I saw this way before the huge flush and never took it because I figured it would just screw around. Tough when you are only allowed two positions at once and need to be picky. Oh well.
Things to work on:
1. Stop caring about the PnL!!! Don't be emotionally tied to it - it is what it is.
2. Don't freak out when in "full size". It's an artificial full size based on downside and restrictions. Don't make it a bigger deal than it is.
3. Don't parematurely add.
4. Wait for the setup and be patient for it and your entry. Your way or the highway.
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