MY TRADES

Overall ended up making $358 and losing $55 so a net profit of $303 yesterday.

 

I have thought about sizing up my position to reflect the size of my account as currently i am taking $1500 to $2000 position sizes, but i run into the conflict that this may have a bad impact on my mindset as i will be getting success and a feeling of success without putting the real effort and such from real trading so I think that i will stay with the same position size just so i am use to it and will be ready to trade once i get my IB account.

But enough about my problems lets get into the trades, I took 4 positions on $spex so i will put them in order of time from first to last then $DXTR

(also if any of you didn't know today was an early close 1pm.)

$SPEX- My first trade on $spex i took in the pre market hoping to size my position into today i believe i need to create a spread like Grittani to have a look at the trading setups that are working for me because sizing a position into the open has not been working well lately. They were up on the closing of the acquisition of another company not a good catalyst but i just ran big a few days back. there was 10% upside from my buy but i didn't know whether this would spike or we would have a plummet from sellers. Need to review Lesson- Create a spreadsheet to track setups.

$SPEX-Took a position as it started ramping up into the open pre i entered at $3.36 i was looking to see this run but i topped out at $3.7ish and started going red and looked liked it may go green to red i played it safe got out at $3.53 not the greatest exit and locked in profits therefore i was unjustifiable to hold from price action so the only other question is should i of sold earlier as it topped out well no, i believe i gave it a sufficient amount of time and when it started going red and was unconvincing i got out. Lesson- Don't get greedy 

First 2 trades above i don't have pre market charting :( 

$SPEX- Was Buying off the retrace of the spike onto the first spikes top as shown in the chart my thoughts behind this buy as there was solid support i could dip buy off and either catch the bounce or get a position before this really spiked on the day. Don't think i made a mistake i sold when it couldn't breakout and as you can see it just faded off the rest off the day. Lesson- ???-Buy at support of the first real spike with volume.

 

$SPEX-Last trade i over traded on, i know what a rookie mistake. After my success of my last buy i decided to try and dip buy $spex again but this did not have solid support in fact a couple minutes later it ripped through support. Lesson - DO NOT OVERTRADE 

$DXTR- Wait a stock that isn't SPEX oh ok,  tim had been buying $dxtr the last couple days but this had proven to me it had solid resistance in fact after i sold short it tested the resistance and failed to breakout  and faded off i had some at $0.349 and added at $0.35 to average up a bit. It came down to $0.335 and looked like it may have some solid support i compared this time to last and saw that last time it had a pattern like this found support and re spiked i decided that it was best to lock in profits even though a few minutes later it cracked support and ripped down to $0.315 it seemed my risk/reward was correct i just wasn't patient enough. Lesson- Recognize the pattern you are shorting and don't convince yourself of anyone side to hard trade it like its the first time you have ever seen the stock.

Missed Trading Opportunites

$DXTR- No other opportunity

$SPEX-unable to short $spex, Would of definitely taken the short on the heads and shoulder reversal on $spex

$MSDI and $OPXA are both Merger plays so they are Ignores Learn Tim' s Rules if you are unaware of that rule.

$pran- considered buying as i saw it start spiking i watched it and simply didn't want to chase, its a bit too choppy for me and I heard others say that aswell.

$DPW- There was potential to short $dpw near the top but always hard to tell exactly where top is going to be with stocks like these if you risk of $1 resistance or 99c from $0.96 that's pretty good risk/reward 

$epti- forgot about pump didn't miss it but forgot