Alright this is 2 week trade review. Looking back at them all, damn thats a lot of random shit. Lets get to it.
$FIT had acquisition rumor by google, took a position thinking it would have more upwards motion after its strong FGD. possibly test PHOD. This didn't happen in the morning, but it did spike into power hour. Exited early, best to keep it on radar into the close. Timing was off on this trade. Is it ideal? I thought the catalyst was really strong, and the reaction to the news day prior was positive. Gotta work on the correct price action. Next time let it consolidate, set a new high, and when it breaks HOD, game time.
$AMKR was a ER winner that broke HOD into PWR HR. I wasn't prepared when it broke, but when it retraced back down to BO zone, I took a position there to see if it can ramp higher into the close. Notice trouble to break above $15, exited for a scratch.
$CUR was a LF with positive reaction to licensing agreement with a big Chinese Bio firm. Not ideal chart, but it was setting higher low. Notice a solid volume come in to push it above its resistance zone at 1.85. I took a position there risking off VWAP since I notice this ticker beens bouncing off it all morning. Goal was to sell when it retest P/M HOD 2.20. The hard pull down to $2 gave me sense it may not have what it takes. Exited on the next pop towards $2.06 for a positive gain.
$FIT play this one again, this time I play on a gamble... not ideal because I based my entry on the news, not on the price action. And I know its an acquisition play, which rarely does anything. Google bought it at $7.35/sh, price I entered was at $7.19, thinking maybe it will test $7.35, easy $.15 gain, wrong it dipped 3 censt. I exited for a small loss. Revenge traded it again later when it dipped lower, thinking it must bounce back towards 7.20, allowing me to make my money back... realize I wasn't trading my usual style. Cut it for a small loss. and just took it off my watch.
$JCS ER winner with positive reaction, with multi-month B/O. I took a position at the open thinking the gap up will hold at the $6 mark. Didn't continue higher so I cut it for another scratch.
$XNET set a solid Doji candle the day prior. I took a position at the r/g test looking to a chance for it to push higher. Lost patient with it. It did trend higher later in the day. I need to figure out ways to improve my entry. As I review these I realize my morning entry gets me chopped out and I miss the entire run into the close. Which is what I am looking for. Adjust this upcoming week to improve my trading position.
$LOCO was a positive reaction to ER. I took this morning position thinking it will continue to run. Discovered on this trade I prefer a few minutes out the gate to figure out what position I want to take. The pull back made me exit for a loss. If waiting helps me determine if I should trade, I will implement it into my strategy.
$SLS was a FGD O/N swing trade. I was in at .19 and it ramped strong into the close. I wanted to sell in the .22. It did get there P/M but I didnt pull the trigger. bad news came in p/m on its R/S, I didn't exit in time. Put me in a tough position. I reacted by dip buying the p/m Low to average down my position. I know its risky, Pick up shares in the .14's, bringing my position down to .16. Short covered out the open allowed me to exit my trade for minimal loss.
$NIO was also a FGD O/N swing trade. I was in at 2.19 anticipating the Multimonth BO at 2.25. It broke and closed strong. Was really happy to be on the right track. P/M hit my goal at 2.50 but I didn't sell then, waited for it to open to see if theres more continuation. It failed to hold so I exited for small gain on the gap up. Goal is to build my account up gotta grow it even if its a $5-$10. I know I prefer to be making 10%-20% on my trade. But when the trade doesn't do what you want you gotta get out. I did trade this ticker again later in the week thinking after the BO failed was a consolidation day for a second day run, Gap up made me feel it may retest b/o zone. Got stuffed got out for a small loss.
$COTY was a late day panic dip buy. It was a ER winner that held all its gain all day above VWAP. Panic down to VWAP I took my position in hopes it may bounce back towards the HOD to close strong on its ER news. No solid bounce I exited for another scratch. Notice I am getting better at noticing when the trade isn't doing what I want.
$FCEL was my last trade. Friday short squeeze was my approach on this trade. After looking at it, I think the support bounce at .39 was the best entry, even if I entered at the VWAP break at .40 would have put me in a better r/r position. I entered the consolidation high thinking a squeeze would happen. Higher lows, and than lower highs were enough for me to exit.
Two weeks of takeaways: FGD is best traded in the morning if I was to play it for a second-day continuation, its best to wait to see what it does into midday. Work on my time entry and not get wicked out. Remind myself that I am in the position to BUILD my account. Focus on that, rinse and repeat it. We can anti up the position later when I am more comfortable in pattern recognition.
- 1.00 -- JCSby LongCao
- -9.00 -- NIOby LongCao
- -23.00 -- LOCOby LongCao
- 2.00 -- COTYby LongCao
- -3.45 -- FCELby LongCao
- 6.20 -- SLSby LongCao
- 18.50 -- CURby LongCao
- 2.50 -- FITby LongCao
- -2.00 -- XNETby LongCao
- -30.00 -- FITby LongCao
- 15.50 -- NIOby LongCao
- 18.10 -- AMKRby LongCao
- -3.00 -- FCELby LongCao
- -6.60 -- FITby LongCao