Phew! I love how I traded today. Finally. A good solid and satisfying day. But I did some things differently that I feel really contributed to the satisfying +$.
What worked today?
Starters, there were a few solid setups for a change. That's the first big deal, right?
Next, I traded really small. And I gave a very tight leash bc I traded today's expiration. I've learned when I neeeeeeddd to use stops, I need to trade small enough to not care about the spread. And, even though I traded small, I resisted the urge to add to losers. I realize I have been doing this more lately. I start with small size, then it holds near my stop so I add (while red), but then I stop, eat the spread and it's a bigger loss.
A fault today, how did I hack so much in RIOT and NIO? Like I couldn't pick a direction?
INTC - gap down on earnings. Only support nearby was 58, which was prior support and also the 100dma. I know that people like to load INTC when it's down, so don't expect a lot of followthrough. I also know that these very popular stocks trade with wierd options action. Whether it's a little laggy, or doesn't somehow exactly correlate... so use limit orders and try not to be scared to hang in there. Last partial is a little regrettable, but that's why I put in stops when I look away.
KMB - gap down on earnings. Bigger spreads. Really wary of this one. Got in with a decent entry, possibly a limit order. It moved well, but I only wanted to get out on limits, and I got a nice piece.
The rest of the morning I spend hacking in/out of RIOT and NIO.
RIOT and MARA both gapped to their 100dma. But people love these blockchain names so I tought there was a chance RIOT would run up. When RIOT didn't dump, I hacked around both long and short in a base prior levels. But the continuation move above was undeniable and I jumped in long. Kept a tight leash and had a nice trade, at yesterday's close area, I tried another short and got burned. Then grabbed one last long, before deciding to call it quits on RIOT. Pretty big hack job for just 4% net gain
And NIO. In premkt, NIO was doing big volume and looked ripe, but hadn't moved above yet. I can't remember why I bothered trying the early puts, but the later puts paid.