Trade #5 – $AVEO 6/28/17

  • Position: Long
  • Entry: 2.20
  • Risk: 2.04
  • Size: 500 shares
  • Risk ($):
  • Target: 2.35


Sizes into the morning dip with 4 x 100 shares @ 2.16 sold into strength shortly after. 

Tried to buy a dip later @ 2.30 6:58, but stock crashed down, tested support at 2.20 and failed, sold for a small loss. Overall, a positive trade +17

I played this perfect until the crash. Buy the morning dip and sell into strength.

Since I had four 100 share trades & my account size < 25k, I believe I triggered the PDT rule.

Now, how to replicate this trade consistently.

  • Perfect breakout after morning dip
  • Daily Volume: 23.5m
  • Average Volume: 3.1m
  • Market Cap: 231m
  • Sector: Biopharmaceuticals

Trade #4 – $FRED 6/27/17

  • Position: Long
  • Entry: 12.75
  • Risk: 11.75
  • Size: 150 shares
  • Risk ($): 150
  • Target: 14.15

Thoughts: steady fundamentals, strong long potential.

Sleepy, will continue updating post tomorrow (9:24 PM 6/27/17 – this is where I messed up…)


Stopped out for a $150 loss

lessons:

  • don’t place trades past midnight when you’re tired and not @ 100%
  • do not trade before confirmation. Had thought positive PR was released about merger between Rite Aid & Walmart, next morning, negative news, market also finished in the red for the day.
  • stopped out at risk level for a $150 loss.

 

Week 1 Recap: 6/19/17 – 6/23/17

Unrealized P/L: 78.45

Realized P/L: 0

Three trades, three wins.

I have not closed FOLD or IMGN because my targets have not been hit. I will cover half of my DCTH position (250 shares) to lock in profits tomorrow morning.

I plan on managing these three positions tomorrow and not jumping into anything new until Tuesday.

Week 1 Positions

Part of me thinks this is beginner’s luck. The other part thinks I made the right moves and started to build some good trading habits.

What did you do well?

  • sat tight and respected risk
  • did not give into emotions
  • prepared trade strategy the night before execution
  • knew my entry, risk, target, source / catalyst & strategy for each trade

Areas for Development:

  • focus on one or two strategies, be wary of “strategy hopping”
  • be prepared for internet outages, like with T-mobile this week. You can’t be in the dark for any reason, it’s dangerous
  • think about tightening your target / risk spread from entry
  • keep watching HTMM, you’re still new, don’t let a few successful trades get to your head
  • You are only as good as your last trade
  • You are a retired trader, only come out of retirement for perfect plays

Trade #3 – $DCTH 6/23/17

Position: Short

Entry: 0.212

Risk: 0.262

Size: 500 shares

Risk ($): 25

Target: 0.162 cover


Placed this trade, based on information from Tim Sykes video, DCTH is trash / a junker and is on the verge of crashing. Second half of a supernova. 5 cent risk reward spread on order.

3rd trade of the week, capped by PDT. Will close out my positions later today and do a week 1 recap.

Watchlist – 6/21/2017

Watched this video on the commute home.

Some takeaways:

  • $DCTH is the first supernova we have seen in a long timeDCTH1.JPG
  • My thought here is, this is going to crash because there is no catalyst
  • The current trend (based on sykes) is Junk that Runs.
    • Sympathy Plays seen in:
    • $ITKG
    • $AMDA
    • $MARA
  • IB has 550k shares of $DCTH available to short for 6/22/17. Question is, do I put in my last weekly trade as a short for $DCTH, say for 2000 shares?
  • Potential trade:
    • Entry: LMT Sell 2000 @ 0.25
    • Risk: LMT Buy 2000 @ 0.30
    • Exit: 0.15
    • Loss / Gain Targets: $(100) / $200
  • I’m only watching DCTH tomorrow, nothing else. Let’s fuckin get it.
  • I’ll be looking to close my positions on IMGN & FOLD as well.

Trade #2 – $IMGN 6/21/17

  • Entry: 6.05
  • Size: 100 shares
  • Stop 5.50
  • Target 9.1
  • Risk / Reward: 1 to 5.55
  • Strategy: 52W High, strong uptrend, potential breakout – next resistance at 9.1
  • Source: finviz top gainers, average volume > 500k, biotech sector hot, touching resistance, new HODs
  • Plan: strong uptrending channel, if can break above channel, target @ 9.1

finviz source chartIMGN5

trading view w/ target & riskIMGN6

2 day / 5 min IB chartIMGN4

 

1 Minute chart shortly after execution around 7:45 AMIMGN1

DailyIMGN2

WeeklyIMGN3

 

Trade #1 – $FOLD 6/20/17

  • Entry: 10.15
  • Size: 100 shares
  • Stop 9.15
  • Target 12
  • Risk / Reward: 1 to 1.85
  • Strategy: Multi-day breakout
  • Source: Turbobob profitly 6/20/17 watchlist. Price Action, Analyst upgrade to Buy by bidaskclub
  • Plan: If can break 6/19 HOD (10.15) then target of 12
  • Note: Human error, looks like I put in a MKT order instead of LMT, average fill price of 9.99

First trade with IB today. Used 33% of account, probably wasn’t a good idea to start with such large position sizing. Minimum commission is $1, 200 shares @ $0.005/share to optimize commission spending.

Respect your risk. Sit tight. Will deposit another $2,000.

FOLD1

7:50 AM tested yesterday’s HOD resistance, failed

Question: is 7:40 price action a result of 10.15 shorts covering or is it from bullish buying pressure? Or is it both?

FOLD2

7:58 AM uptrend, testing 10.075

FOLD3

Jesus, that 8:00 AM candle, drop from 10.06 to 9.9

8:05 AM Glued to the screen on my morning commute. Mistake

8:14 AM thought … look at sector, industry, capitalization performance YTD. Top down?

FOLD4

12:17 PM touched prior HOD then faded. Fuck. Touched 200 SMA and we’re dipping. Do I close my position, hold or buy more?

FOLD5

7:19 PM Faded and closed @ 9.55

Closing thoughts:

  • Potential morning panic tomorrow?
  • Other traders locking in profits or buying to push higher?
  • First red day?

8:01 PM I need to improve my knowledge of trading. I feel like I’m going in blind.

Current unrealized loss of $(44). First loser in the books.

Watching Timothy Sykes HTMM.