OREX, PDT Warning !!

OREX



01/05/17 10:38 AM EST Buy 800 OREX Executed @ $3.07
01/05/17 11:06 AM EST Sell 800 OREX Executed @ $3.04

Ugh.. My stop loss was 2.99 and I raised it thinking $3.05 proved itself enough.. but lo and behold I tried to dip buy this shiet in the AM close to noon.  M'fer low for the day was $3.00.. I cut losses too quickly maybe? and didn't let the play work out?.. M'fer reached $4.00 at day's end.. $700.. still uneasy on this one.. I will only buy reversals in the am if it's panics at the open to support.  2nd day reversals will be bought in the PM for a 2day F3 Pattern.

01/05/17 2:09 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:14 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:29 PM EST Sell 300 OREX Executed @ $3.84
01/05/17  2:29 PM EST    PDT Qualification Warning !!!

I missed my entry at 3.08ish where my original entry in the morning was since it wasn't 2pm yet.  Looking back at ETRM chart though and other charts, I'd want the confirmation of a higher low holding so I can set a risk.  One thing though, I don't have a platform for e-trade and use the webpage and mobile.. I only wanted 500shares but I guess when I swapped to change the order on my phone, it inputted a second 500share order on top off what I already had.  When I sold what I thought was half of my position at my profit target, I got a PDT warning and my P/L was alot higher than I expected.  I'm still new to the E-trade website but I finally got a confirmation on what my actual position was.  I'm in waaay too big for my risk, It's already triple topped at $4.00 with a huge seller blocking the way with 16,000+shares.  I wish I can sell all today but i'll end up with my account frozen for 90 days. FML.. I'm glad E-trade Extended hours starts at 7am vs ToS at 8am.  I'll be locking in at least half my shares ASAP and let the rest ride to see the January effect+Friday short squeeze can break through that seller.  May the force be with the healthcare sector today.

IDXG / December Review

IDXG

01/03/2017 09:58:41     Bought  300 IDXG @ 7.9
01/03/2017 10:10:10     Sold       150 IDXG @ 9.36
01/03/2017 10:11:42     Sold       100 IDXG @ 9.25
01/03/2017 10:11:42     Sold       50 IDXG @ 9.24
01/03/2017 10:39:46     Bought  100 IDXG @ 8.5
01/03/2017 11:06:05     Sold       100 IDXG @ 11.575
** Not sure why I can't load pics atm **

I noticed IDXG spiking with volume using the thestockmarketwatch.com and it was a familiar stock from the previous day.  Broke the pre-market high at 5.5, decided to chase a lil bit but was sized in too big for my normal risk tolerance.  Took profit when the momentum shifted on the 1min chart.

I noticed that the longer TF was still upwards with the price holding the short TF downward.  Bought the dip and sold when the momentum was changing.  Since I went big on the first trade, I got scared out and downsized from my normal sized position even though this entry was alot better. Sold whole position instead of my normal just half just because my position was small to begin with.


DECEMBER REVIEW 

6 Red Trades         (1,022)
3 Green Trades  + 874.81
33% Win rate and (147.48) for month

2 Red trades caused (701.14) or 67% of my total monthly loss in damage

On review, I traded against the trend and chased the entry.  Tried to buy the breakout but instead found the top/false breakout and whipsawed me.  Zombie trading/having no plan prior to the trade resulted in my largest loss to date.

On review, I should've noticed that the momentum on the 1m/5m/15m/30m chart wasn't all aligned.  To make it worse is the face I chased and tried to buy the breakout which failed and momentum whipsawed me.  My position size was way too big but i did cut the loss faster than AKAO.


Goals for the next two weeks:

1)  Create watchlists daily/develop patience and only trade what's on my WL > FOCUS only on Go-To-Setups

2)  100% compliance with pre-trading requirements prior to making the trade.  If i stick to this plan = 0 ZOMBIE/REVENGE TRADES

3)  Stop thinking about money and focus instead of making the right plays.  The money will follow.

"Think of it this way, as traders, Our job is to be patient. Most of our time should be spent watching and waiting.” -LX21

"Aim Small, Miss Small." -T. Sykes

"No one ever went broke locking in profits !!!"- Superman