I should come back to this post over and over. and not forget this lesson. Even if this turns out to be a big day, I should never regret taking my piece. What an excellent hourly rate to make 6% on my account in 35 minutes!
I love how I traded today. I didn't really love any of my picks before the open, but I like this method of
clockwork trading
- small positions
- PAY MYSELF FIRST
- tight stop is the right stop
As my account grows, it seemed counter intuitive to take small positions, take off half+ on easy (12%, is that so easy?!) targets, and use tight stops. It seemed like I would leave so much on the table. But you know what... so what? I was having a hard time making (keeping) money using other methods. This way is low emotions, and the small gains add up especially when the losses are small/none. PEACE
TSN
Gap down. Initial entry after surge, watching premarket levels esp 9:29 surge bar. Took off first trade on target and stop. I missed the precise entry when it moved again, but waited for a micro pause and watched lvl2. First exit when it stalled before my p/l target. Then trailed/squeezed stop on the rest.
BA
Gap down. Short failure to bounce. Exit on tightened stop, without reaching target.
This is the best example of the tight stop is the right stop.
BILI
Gap up against red bar. Spread was wide and it stalled at/without filling my p/l target so I yanked it all. I missed the money on this trade, but I do not regret that I stayed sane and didn't have to wait out a loss.
AAPL
When the market bounced off the bottom, AAPL went bonkers. I refrained from grabbing a runaway train, waited for p/b which was vwap bounce in this case. This pos was big-ish bc expensive options. Trailed stop as it dallied under p/l target but hit eventually. Then trailed/squeezed. G-d I love how I traded today!!
