Finding Good Setups and Working It

It’s been a pretty hectic week week here at the Grind. I was able to trade yesterday but with a lot of Internet issues. In fact, I had to have Spectrum come out and help. This was the first person in my house in 8 weeks. He had a mask on the whole time but who knows what that actually did. The good news is he was able to get me squared away. He also helped me figure out why I wasn’t able to take advantage of my 480Mbps speed. I was running at about half that. I feel like the speed is much improved and I’m not having any drops. WIN!

Let’s get into the trading. Yesterday was a down to up day and I’ll take it considering the Internet could have screwed me at anytime. I ended up in the green by about $45.

Trades Taken

The first trade I took today was on SNDX. This was the break out of the opening price. It was a solid setup and I wimped out again and took a tiny loss only to see it run .75 in my favor soon after. This is obviously one of the two main things I’m suffering with. Scaling out too soon and not staying in the trade at the beginning.

SNDX Profit and Loss = $.11

After this trade I noticed NCLH was starting to head to green territory from being down on the day. I was able to grab some shares and sold them too soon once again. It was a good setup but I didn’t let it follow through. My best sell was 16.41 and it had run all the way up to 17.48 without even looking back that much until later in the morning.

NLCH Profit and Loss = $36.22

SM was probably the set up of the day. This was called in the room and although I didn’t get a lot from it I was happy I made this trade based on the parameters. It ended up rolling over later but I did hold some for the bigger move.

SM Profit and Loss = $64.18

One of the better trades was AVEO. I was watching this and it was called in the room as well. I got in at the 7.00 break and got out with some small gains. The stock did run a full .78 and I only took about .15. I will overcome.

AVEO Profit and Loss = $38.25

I did have a decent little trade in CAPR. This was fairly pain free and had the chance to squeeze so I had my last 100 shares only to see it get stopped out. No biggie since I gave it a shot. Working on the things that may be holding me back.

CAPR Profit and Loss = $30.01

I also took tiny trades on ROKU, CEIX, TSLA, TLRY, MSFT and UAVS. These weren’t worth my time to write about. Small winners and losers. These were all pretty much forced trades. I get rid of these since they had no parameters and my end day P/L would be even higher.

Taking small gains is great but not catching the bigger moves on the risk/reward has got to change. I need to trust the setup and let the trade work. Sure, sell some but not all too early.

Total Profit and Loss = $115.11