BNTC negative 131

SHIP negative 927

DFFN negative 1397

CYCC negative 1546

 

So I have tracked my losses for less than a month and felt confident to raise my share I use to trade from 100 to 2000 today. 

I felt comfortable in that I consistently pick "winning" stocks and I could profit huge today and got very frustrated that I didnt.

After shutting down my IB trading midday, I watched some Dekmar trade videos from youtube and I totally see what I did wrong. Subsequently, I refined my strategy. Hopefully my lesson will help the new people.

Dekmar videos explain making profits from the U shape breakout patterns and I noticed all the stocks I tried to play today DFFN, SHIP, BNTC, CYCC all shared a U shape pattern in common. The U shape patterns in each of these stocks resulted in a spike 4 out of 4 times.  The spike comes when stock crosses VWAP intersection with open price. 

 BNTC spike was 60 cents at 9:34. SHIP spike was 16 cents per share at 9:42.  CYCC spike was 1.00 (before it got halted) per share at 10:21. DFFN spike was 45 cents per share at 10:42.

After the morning spike I call scalping because of the smaller profit opportunities and I will not long anything after the spike any longer.  Thats where I lost all of my money today. Lesson I learned (frustratingly) is to say I will only short where shares are available after the first day spike until the 2pm move (stocks begin to move as early as 1:30 so its not good to short until after 2pm). 

My new strategy is to predict and play the one spike with 50% of my account as my only long play. I will not play longs that are not in attempt of this morning spike. I will only short after the morning spike when at the lower bounce and also after the bounce of the 2pm move spike.