SUNE
Long overnight 1000 SUNE @ 1.71
Plan is to sell half at open, and sell the rest at 3$ if it tests it or sell all within 10mins of the open.
Sold 500 SUNE @ 2.29 08:00:08
Locked in half profits on a lower high in pre-market. I still had doubt's whether i should lock in profits or not but this is another assurance that cutting my risk in half for guaranteed profits is a much much better strategy. Take profits and move on.
Sold 300 SUNE @ 2.4234 09:41:40
Top was at 9:35-9:36 @ 2.77, i shoulda have at least seen the trend change MACD bearish crossover at 9:38 and stopped out at 2.5. I was still a little greedy and should've locked in 1$ per share profits but i wanted it to hit 3. Since i had already locked in half, I was comfortable with seeing if it will hold the spike a bit.
Sold 200 SUNE @ 2.37 09:43:58
Closed myself out completely when it broke below VWAP, sucks that it ended up being the low but I can work on my exits later, there's bigger mistakes to focus on atm.
If I had traded this ideally, I would've
1) Bought full size 2000 shares instead of 1000
2) Sell half at the same point when i did *** +1 did right ***
3) Closed out at 2.7 if was day trading, Closed out at 2.5 if i wanted to let it to test 3.
I missed the top by 30cents... I still had that "hope" mindset and because of it i missed out on locking in 1$/share profits. I AM A TRADER, I need to stop thinking about getting homerun plays and just bat singles.
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In comparison to how i traded 2 weeks ago:
I've significantly changed the way how i control my greed, Aiming less for big gains and instead aiming for consistent profits playing ideal setups instead. What coulda, shoulda, woulda been a $700-$800 gain ended up just over $600.
However, the big thing that killed my possible gain today was the fact that i only took half my normal size due to:
Impatience: Forced 2 trades AGAINST my rules during midday, instead of letting the play come to me, i tried to make the play happen instead.. 2-3hrs into it the market humbled/beat me down and was eventually scared out of my position. Due to my impatiience, i developed a fear and caused me not to go full size in the afternoon.
Fear: What coulda, shoulda, woulda been a $1400-$1600 gain on a full size position ended up just over $600. Funny, I've seen the top traders get scared out by being too early and you really have to experience it yourself to fully understand how it feels instead of just hearing/reading/learning it from someone else.. Being too early in a trade is SCARRRYYYY... I really would just either miss potential profits/miss the play completely than to be in early. This fear would easily be more compounded on short positions. I think fear here is a good thing though, the core problem here was the impatience, if i wasn't early on my trade, i wouldn't have been scared out in the first place and only went half my normal size.
On a side note: I called out on Wednesday that CLOW Breaking down past 0.35 cents would send it too test 0.30 and if it broke below that, it'd crash huge.
This pump was a gimme and i'd easily rate it a 4*. To help me with impatience, i will start using LX21's system of rating plays and i would only take 3*+.. I woul'd've rated my ETSY/ENOC/1st SUNE trades as 1*, SUNE o/n 3*, CLOW 4*. This would prevent me from going in useless/stupid plays.
I'm seriously thinking about just focusing on shorting. I've seen so many earnings winners fail so much and this overall market just SUCKS for being long. ClOW is now trading at 12cents from 35cents EASY EASY 66% Gain. My biggest problem right now is that I need that e-trade account open to short, and prolly just use TD Ameritrade for longs / Learn NASDAQ Shorting. This is going to be a huge change in my strategy and prolly be a good idea to take a week or two off from shorting to prepare myself shifting strategies from a long to a short seller.
