A few good and many bad trades. Need to pull back the reigns as I am trading really sloppy recently. This may be some ill feelings due to my poor decision making today. Which I will go over in next week trade review.
I started the week with $TGTX and $OBSV. Both are BIO stocks running on positive result news. One was preclinical (TGTX) and OBSV was phase III. Took $OBSV position out the gate with a very tight lease. Exited 3 mins later as its failed mkt open low. Minimal loss. TGTX failed to hold $9 so I cut it as well. Now looking at TGTX, its actually reached my sell goal now trading at 10.25. Will work on keeping big % gainers on my focus.
$SPCE was my o/n trade. Speculative trade because its spiked earlier in the day but held all its gains off analysis upgrade news. It closed near VWAP line. I like buying on a dip as it gives me a better r/r, if the trade fails I cut for smaller loss, than to wait to buy near b/o zone and find out it stuff and Im stuck selling for a larger loss. SPCE I kept a tight lease on it, if it fails VWAP down in $8.35. It gap up the next morning and spiked all the way up to 9.70 on more hype of this company being the next big deal. Sold a bit early but I am happy with this trade.
$VRAY was a stock I was just testing out how to size in my trade. I notice it was bouncing off the $4 zone and stuffing at 4.30 area. When it perked above it and stay above it, I took my size and added to it on dips. Feel confident with this style of adding into trade I attempted it on the next trade was was $AMRX. It was consolidating nicely near $5. I added my size and held nearly all day looking for possible HOD break. I made the mistake thinking the HOD break was going to keep going so I added more size, chasing it up. Bad mistake as its turned and trended lower.
$ROYT was a trade I took after my AMRX trade. I felt the loss really gets my psyche in a funk. I bought this one that spike early in the morning. And pulled back down towards a key number .50 and near VWAP. I want to see it retest HOD of .60. Got trigger happy and exit too soon to see it trend all the way up into the .70 before failing.
To work on in the NEW Year. Stick to my rules. Never trade P/M, Keep Depending on what the technical are on the stock, figure out clearly where a good exit will be and size in accordingly. Wait to see next week review, really disappointed in myself.