I hope you all had a really nice weekend. It was nice to get away from the screens for a day or so and recharge. That being said, I was able to complete part two of the trading course. So far I’m impressed and I see this being a great thing for my future as a day trader.
There were a lot of headlines today including the crushing blow to oil prices. The markets set up with a fairly strong gap down and then rallied a bit to give a few good trade setups. I did miss one or two today. A nice trade I missed you can see in the video below. Watch how my limit price got jumped when the price hit my number.
Trades Taken
The first trade of the day was on CAKE. This stock has been getting beat up since COVID-19 hit the US. There were definitely a lot of shorts on this stock so a squeeze and a market rally were all I needed. I got a nice pop off the whole number 20 and saw .38 on one of my trades. I only traded 200 shares.
CAKE Profit and Loss = $48.40
The second trade was the break of the 134 level on ROKU. This gave minimal pain but I didn’t take full advantage of this one. I saw the price in my favor by .40 but only ended up with .14 on 100 shares. Nothing big here nor did I think it was going to be.
ROKU Profit and Loss = $14.67
The pot stocks were stepping up including TLRY. I’ve had this on my watchlist for some time and today, being 4/20 the markets were looking this way. I took a break of 7.25 level and it did end up getting to 7.43 but I only took my small piece which I’m fine with. It ended up fading the rest of the day.
TLRY Profit and Loss = $23.00
FRO was the last trade I took today. It did have momentum based on oil news through 11. I was able to get the pop and saw green but it ended up reversing for a small loss. I only took 100 shares of this.
FRO Profit and Loss = $9.08
Although this morning set up pretty well I didn’t take full advantage as I should have. I’m still learning the setups and playing extra defensive currently. I’m good with that. I missed several pullback plays and a couple of others. If I can pull the trigger more often I think I will see bigger days. Time is and isn’t on my side but I have to give it the wiggle room it needs.
Total Profit and Loss = $76.99
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