GBSN: I had this on main watch due to the reverse split and the fact that it could tank even lower. I wasn't sure if today it would tank or it could go up based on the now reduced float size and the fact that the shareholders don't have their new shares yet. However, what I didn't see and what I failed to do was check the SEC website and see that new shares were issued so it could have continued to go lower, and it certainly did. I saw that it had stuffed at the open but didn't get in it there as I was still unsure. It tanked a bit and I said ok this isn't ripping it's going lower so any pops should be good. It got to vwap in a hurry and I shorted there. What happened next is it looked like it peaked vwap and then it just shot up on big volume. This was the real entry and a big stuff. It is tough to know what to do in these scenarios if I should have waited for some other move or wait for a stuff. The stuff may not have happened and it could have peaked at vwap and headed lower. The good thing was that I didn't panic here and saw the stuff for what it was. I wish I had added instead but again I didn't know about the dilution. It got back under vwap and then I tried adding to full size but I never got filled. It went a bit lower but I didn't know about the new issuance so I just thought maybe it retests lows and that's it. I was also not being patient with the win and everything was going in my favor. So when it started to push a bit I covered for a small win thinking that with such low volume it could push back at any moment. That wasn't the case and it stuffed $5 (which I said but never got back in) and then proceeded to go $2 lower in a very short amount of time.. Complete miss. Later on in the day I saw that it was perking back up and it looked like it was vwap stuffing. I was thinking of shorting it here but said I think it can go higher first and I wanted to wait for a better setup. So that is what I did. I waited and it did go up higher and then it stuffed again with big volume. I then shorted and got a very nice fill and rode it down and covered half at vwap and let the rest ride. I covered the rest later below vwap because it was such low vol, even worse than before, and I wanted to take a walk. I made more money on the second trade than the first when it went down $2 - not sure what to think of that.. Positives: Didn't get scared out due to stuff and waited for the chart to tell you to get in with the stuff later in the day with perfect entry. Negatives: Didn't research SEC filings like I should have and was therefore too scared and covered for small gains. Didn't reenter stock when I saw it stuffed again. Thought about the money and losing potential gains instead of focusing on the trade. Neutral: Shorted at vwap instead of waiting for some other move like a stuff. It could have peaked into vwap and that was it so tough to say.
CRBP: I had the right read on this but completely traded it the wrong way. I saw it going parabolic a bit and said I don't want to pick a top so I will let it come back down and then have a lower high. This looked like it was a short term top as there was a lot of volume today and it went parabolic vs. other days where it just grinded higher. It started putting in a lower high so I got in. I said this might need to inch up above high of days to get everyone out then it will fall. So I only had half size at this point because I did think the lower high was it. I saw it tried to pop and then fall a bit so I shorted even more (went against my plan) and this was right into support. I got too enthusiastic about it. So what ended up happening was I was full size and it started coming back and so I got out of the add and said forget it to the initial, It made new highs and then sat back down. I said ok this might have gotten people out. I reshorted again half size and it broke the uptrend so I thought this could be it but then it came right back with a small pop and I said forget this low volume stock and what it does so I got out for a tiny tiny profit. It then proceeded to hit the original targets I laid out with going to vwap and then to r/g on the day and eventually hit red. Frustrating and a complete miss. This was a very good setup but I traded it poorly. Positives: Waited for lower high and reshorted after it had failed breakout. Negatives: Added way too quick into support and then didn't respect initial plan to only get out of my add and keep the initial for .80s over/under. Then covered when I had the right entry because I was scared and emotionally depleted and said fuck this.
Things to work on:
1. Read SEC filings
2. Be reactive, not predictive with charts. Let the stock do its thing and then react. Don't predict. You predicted the stock would fade at vwap but it went higher instead. 50/50 it would have worked
3. Stay cool, calm, and collected during the trades. Respect your plans.
4. Don't think about the money!
5. Be patient when trend is your friend. Don't think about unrealized gains you may miss by not selling/covering now.
6. Don't add too quick.
No comments:
Post a Comment