EXEL
I had no business here shorting a stock that is not clearly overextended , and trading on regular ATR . Rule #1 is : has to have a overexertion so I can have an edge which is Longs to take profits.
EXEL
PACB
Shorted the break of PDH which was a legit try got stopped for tiny loss I, OK with this trade.
PACB
BCO
I think it was OK trade by my rules and just did not work out just like PACB didnt.Nothing works all the time that's why I plan how much I can lose.
BCO
MRC the winner same set up as previous few but it worked. It was short on break below PDH after being overextended. Took quick profit but when I re-entered short aging ( rushing not to miss bigger drop ) took a small loss .
MRC
DGLY
Same set up again it worked , but should have maybe re-enter on lower highs since the big picture is in profit taking mode IMO
DGLY
RYAM
I was talking about this on the live stream yesterday and it did what I was looking for , which is the same thing as the rest and it worked too good on this. Wish if it works like this all the time. It seems like the steeper the move up is, it works better on the short side, but I am not sure , since I've seen a lot of grinding up moves drop as quickly too ( as long as the stock big picture is well overextend)
RYAM
TWI
Still short from 11.95 and looking for LOD to cover or trail stop exit 11.91.
TWI
TWI the cover 11.91
ASPS
I was very patient to get nice confirmation on this and shorted 30.35 stop 30.55. Noted the increased volume traded at HOD , was a sign that momentum up is getting to an end in addition to the RSI divergence (RSI sloping down when stock is making new HOD)
ASPS short 30.35
ASPS some just do not drop quickly as I want ..
ASPS cover for a scratch / small win
NOTE to myself
What could have I done to have a better green day?
So far I am thinking not to avoid stocks like EXEL, Simply not overextended stock may drop too, but the drop may have lot more choppiness, lower risk reward ratio, which I alread ydo avoidm but there was nothing to trade that moment so I got in. I sill need to get better on waiting. At the EOD I still had plenty of trades.
It doesn't really matter if it is a big board or not, over-extension is almost always followed by profit taking by the smarter money.
My name @DaChopa comes from being chopped out so badly for many years by the markets. I just share my experience real time to save sheep from being taken to the slaughter house.Do not copy my trade alerts.Just watch me trade live and understand the concept. Play small if you are new, very very small just to be in the game long enough to learn it. The only way to learn it is to stay in the gladiator arena long enough.You are entering a losing game before you plan to have any steady profits.
Great Savings
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