Profit/Loss:
Down $8.00 this week on 1 red trade.
Thoughts:
Another scratch week. As the overall market has been collapsing, shares to short have been scarce as i mentioned previously. Been forced to pivot and have been looking into trading mid-caps. Its more difficult to find reliable patterns, but i have a couple ideas im working on. Also my approach radically changes, i cannot use data the same way, i cannot use fundamentals the same, and it becomes mostly technical analysis, tape reading, volume etc. and risk management. My 1 trade this week was testing a dead cat bounce setup, which looked good, but it was far too illiquid and as soon as it popped up market makers took over and stacked the ask and it sold off completely rest of day. A few small cap long setups have been showing up here and there. Ive noticed gap and craps seem to be coming back so if that's the case next week i will be interested in shorting those again. Would still like to setup another trading account with a broker that has good borrows because i still see opportunity in small caps but need to resolve a few issues on the money side of things first. Thats it pretty much, just another boring week.
Lessons:
- Dont be afraid to pivot to new trading strategies
- When trading mid-caps, volume and liquidity is a must
- T
Join now or log in to leave a comment