Friday 9/06/2019
I had a well-being score of 5.5/10 this morning. Taking half share size today because it’s Friday.
I took 1 live trades this morning, with BABA.
So AAPL and BABA were on my market open watchlist with MU, AMD, ROKU and LULU on my 5min ORB watchlist. Centerpointe now finally has shares to short for ROKU!! I was quite surprise to see them this morning. I feel much more comfortable having ROKU on my watchlist now.
BABA daily looks interesting, maybe on the verge of a break out. Then BABA had a nice drop 5min before the open. But I still had no bias at the open. APPL was interesting that it had a lot of tech levels above the current price and none below. I also, had no bias. If the price dropped there are no levels to stop it, but if it goes higher there are levels to attract it.
Both stocks were setting up so my attention was split. BABA really respected the PDC in premarket so I was waiting to go short if it broke through it. The price broke through it and I shorted, or so I thought. Since my mind was on long AAPL at the same time and oddly both stocks had approximately the same R value for the trade and similar stock price, I accidentally went long. Except for my issue switching to and from SIM I have not had a hot key mistake in 5 months. But, I was pretty quick to realize it and correct it. There was only 3 seconds from sending the buy order, selling the buy order and sending and executing the short. Sadly, I lost 10 cents on both trades. So I was already 20 cents in the hole.
When setting up the trade I was planning to aim for the 176.50 level as my target and the 179.25 PM level as my stop. But that’s a R/R~8 which is too big and unrealistic. BTW it did reach that target in 4 minutes J So I chose the 177.94 daily level as my target. After the hot key mistake my R/R<2 but since I really like the 176.50 target and I was taking half shares (it’s Friday) I thought the risk was still fine. Again, I did take a lot of partials but kept them small. I still had almost half my shares after 4 partials. Then once I reached 3R I partialled heavily and all out at 177. I don’t look at my P/L anymore, but I can tell even with the hotkey mistake the trade was a +2R or better.
Instead of switching to SIM I rewarded myself, for the one and done, to turn off my platform and help get the kids get ready for school.
Score card (live trade) hotkey mistakes are not included in my score card.
BABA
93%
What I did good today: Traded something besides AAPL. Took a good setup.
What I am grateful from today? Recovered from hotkey mistake quickly.
What do I need to improve on: Taking partial profits of course.