05/22 – Missed opportunity

I started my trading career with Tim Sykes and when I was lost I joined Investors Underground. The DVD’s that helped me the most were Tim Grittani’s Trading Tickers and Nate Michaud’s Tandem Trader.  Software that has helped many traders, Trade Ideas, can be found here: Trade Ideas software.

Tuesday May 22, 2018 – long list, traded two tickers

My watch list this morning was quite long: SESN, TRXC, SNES, ADOM, SHLD, HEAR, ASNA, I, VSTM, SMRT, ARWR, VKTX and IPI.

SNES

I was watching the breakout of SNES and bought at support of VWAP. This ripped and sold into the 1.80 – 1.90 rip. My plan was simple, as described above: If VWAP hold, I buy at 1.70. My Initial plan was to buy at 1.45. But SNES ripped at open. My ideal plan would’ve been to buy at 1.45 if VWAP held and size in if VWAP keeps holding (if, for example, 1.70 – long term resistance from November 2017-  held). Breakout point was at 1.70 anyway, so with that 25c per share cushion, I could’ve size in some. This did not happen and I chickened out, due to fast moving ticks and spread at open.

SESN

The missed opportunity was on SESN. Sweet washout to 2.00 at open and a nice 10% jump to 2.30. Then failed r/g action at 2.30 back to 1.95ish. My plan was actually to dip buy the panic (as before on April 27, 2018). However, I was watching / trading SNES and totally missed my trade.

You are probably wondering why I am crying like a bitch, but what I did was completely stupid and ridiculous. I deviated from my 85% winning strategy, almost blinded by money and profit. I should’ve held my balls and traded what I always trade and am comfortable with (hence EBIO/SESN). Been trading this baby all month now almost, so I know this ticker a bit.

TRXC

Currently I am short TRXC (3.25 avg.) and this is a slow trade (10:53AM). Very strong and still giving a fight! It really wants to breakout. But, for me to go long, I would like to see some basing around 3.00 and a slow but sure rise/climb towards 3.70 – 4.00 breakout. TRXC did hold 3.05 again today, so who knows. I might cut my losses and go long. Not sure yet unless I see some basing and climbing again.

SHLD

Same as above really. Retail seems to be doing well. But this is crapping like a boar and bears are hungry. Missed my opportunity here, being in TRXC, lower volume and other tickers showing more action. However, I will keep this ticker on my watch list as volume is still promising.

ADOM – HEAR – ASNA –  I – VSTM – SMRT – ARWR – VKTX – IPI

Tracking these babies with keen eyes. I look for volume, so any volume and I’ll have my eyes on these yet again. ADOM I would like to add that this seems dead to me. Wanted to see some more morning washout, but didn’t happen. Also, HEAR – ASNA –  I – VSTM – SMRT – ARWR – VKTX – IPI are alll lacking volume for me to be interested. I’ve been caught so many times by crap volume and not being able to exit, that I have learned my lesson. I am a volume trader after all. Also short biased. Easier to find resistance then support. Also, stocks fall like a house of cards. So if the ticker is crashing, it will crash.

  • kindly note here that this should not be treated as advice, trade advice or any of the sort. Always trade your own plan, cut losses quickly and never follow any alerts. Always do your own research!
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