Weekly Positives:

+Made my first trade in a long time.

+Gained confidence & competence by both taking and missing trades.

Weekly Negative:

-Missed some obvious trades.

 

This week has been a very positive experience, as I made my first trade in quite a while. Have been studying a lot and honed down my focus since the first period of trades.

The trade I made was on CUR, and I am happy that I was able to spot a strengthening biotech sector, and the potential of shorts getting squeezed. The trade was not perfect, but decent.

I also missed two really good opportunities, and two decent ones. The tickers I should have played was DPW, OHRP over last week-end and VTGN on Wednesday. I also could have longed GLBR overnight.

My biggest problem with these missed trades is that I fail to recognize big upside potential when stocks already have big % gains. Especially when there is a lack of good news, and too sketchy of a company. But in these scenarios when the fundamentals are at their worst, shorts can create big squeezes. My problem is not that I fail to see the pattern in real time.

Missing OHRP was more of a silly mistake when I misread the warrants in the 10K-file. Wont repeat that mistake again. VTGN was also a silly mistake, as I went to the toilet for 3 minutes, and missed my entry. However, I thought it would move slower, so it might have missed it anyways. I was looking to buy when it broke 2.15, after pulling back at 11.15am.

For next week i will up my risk to $20, in the trades I have the strongest conviction in. I think this is the right thing to do, although I'm uncertain of my profitability still. The main reason is that is does not make much sense to play with as small size as I do, when i have $1 in commissions per execution. I will still keep $10 as risk in the trades where I have less conviction, to gain experience and practice with less money. Ideally I would have had more trades as a guide to my position sizing, but I'm still very comfortable losing only $20 per trade.

If you want to check a more detailed trade journal, feel free to check my "Tradervue" account:(https://www.tradervue.com/shared/users/20928) I would definitely recommend this service as it's free version has some good features. Mainly I like it for its charts, the tags, and unlimited characters in the trade comments. I will still post my trades at profit.ly, at least in the near future.

 

Weekly P/L:

$14.