It’s getting a bit boring, but yesterday I traded SOLY again. There is just not that much in play that’s matching my (Tradenet) criteria. Tried to repeat the same as yesterday, looking for a bounce mid-day and then short the top of the bounce. The bounce was none to nothing and sold for a loss. Took the other side and opened a short position. Made up for the loss with a little extra. Ended the day with a gain of $59. The account is now at $15,945. For Wednesday I’m more biased to the long side. SOLY needs to find some support at the MA50 and the pretty solid support line. The down move has been on relative light volume. As far as I can see it’s imminent for a bounce. Resistance upwards is at $18, that’s almost +20%. Got to love this stock. But as always, I will trade what I see happening in the moment. So let’s see the price action today and ride the wave up or down.
SOLY didn’t bounce as expected, but did find support at the level mentioned above. Would be interesting which direction will be taken tomorrow. I still think a bounce will come. Yesterday took a short in SOLY and closed it when it stalled on the tape. Ending the day with a gain of $81. A new stock joined the party, which was APRN. I saw the dump starting after the pump. Opened a short and rode the wave down. But then at the end of the day suddenly a large short covered and APRN bounced 20 cents in a couple seconds, stopping me out. I’m VERY interested in follow through to the downside tomorrow. Ending the day with a gain of $142. I ended the day with a total gain of $222. The account is now at $16,168. Today is Thursday and that means I have a full trading day. I have hunch it’s going to be a GREAT day with these large movers being on my watchlist: SOLY for a bounce or continuation to the downside APRN for a bounce or continuation to the downside ZYNE for a bounce or continuation to the downside
As anticipated, a big day it was. Not a great day, but a big down day. I did some bad trading, chasing and with way too large size. Also the spreads in the stocks I was trading were ridiculous. It’s good this happened though, the profit gave me room to widen my risk. Now I need to get back to sticking by the rules. At the end of the day I managed to reduce the loss to -$518. The account balance is now at $15,650.
Played it a bit more safe in ZYNE and rode the wave down. Made a good chunk and made back yesterday’s loss plus a bit extra. Closing the week at all time high for the account. I made a profit of +$610. The account balance is now at $16,260.
Below the results so far, plotted in a graph. X-axis is trading days and Y-axis is cumulative profit.
I was out of town last week and didn't really visit the site. Glad to be back and see you crushing it. Keep it up man
Thanks man, glad to see you’re back. Was already missing the updates in your journal! Unfortunately there are not that many active journals on the board.
Too bad I couldn’t trade the full day yesterday. APRN, SOLY and ZYNE, my favourite stocks, were all bouncing >10%. I anticipated in the afternoon while buying in the consolidation. APRN and ZYNE didn’t do much. SOLY showed continuation and I unloaded in the break-out. I ended the day with a gain of +$133. The account is now at $16,393. The rallies in APRN, SOLY and ZYNE are typical short covering after such large down days. This is temporary and could rally even further. But when it’s done, it’s done. The great thing is that I can ride the wave down once more!
Agreed, more journals would be awesome. That's where a lot of the potential value on this site is. I misread your thread title today and thought it said you were up $23K
Mainly played support/resistance yesterday. That worked out pretty well. Below some screenshots of the trades I took. Ended the day with +$263 profit. The account balance is now at $16,655.
It wasn’t really my week, had quite some losses. Ending the week with an account balance of $15,459. But positive to this is I found an exceptionnel opportunity. Look at that chart of BYND. That’s going to implode sooo hard! Monday are earnings. I’m looking for a huge blow off top on huge volume. That’s the signal to short the crap out of it. Until then I will just trade what it’s giving me.
Hi @T0rm3nted , I was fed up for the entire week, haven’t posted because of that reason. Unfortunately I’m done with Tradenet, hit my max loss last week on Thursday. I was short in WKHS, but it didn’t dump quick enough so covered. Later in the day there was a dump and I saw a bullish pattern develop. I decided to open a large position for a quick end of day move to the upside. I don’t know what happened next, but the floor fell down and the stock dumped 30-40% in 10 seconds. Then it recovered. But I hit my max loss with this dump and that ended my journey with Tradenet. Shouldn’t have taken such a large position, but this was just ridiculous.
I’m planning to open a small account with Tradezero in the coming period. I will start over, with smaller amounts, and fully trading my strategy, which was not possible with Tradenet. Lesson learned again
Sucks that it didn't work out, but it was a learning experience and house money. Good luck in your future endeavors, hope you'll stick around though!
That's how you know you are well on your way to success. Trading should be boring. You find the setup that works, then execute. Very boring. Very, very boring. That's the goal.
Good news, I funded an account with Tradezero. Hopefully Monday the funds will arrive in the account. It’s small, only $500. I will start by trading $100 lots, so the plan is to slowly grow the account and not blow it up. Also I will update the first posts later this weekend with the updated details and strategy etc.
