Goal: (One Thing you Are Trying to Improve upon)
Grade: (How Well Did you Achieve your Goal)
Morning Temp: (Emotions, Sleep, Energy)
Slept Well, positive, ready to tackle the day
Overview for Each Ticker: (Chart Screenshots, news, stats, General Performance, etc)
Ticker & Sector: PXMD
News: PaxMedica Announces Publication of Its Autism Spectrum Disorder Phase 2 Study Results in Peer-reviewed Journal
Details: Yesterday was $LIFW which had a 500% move. Coming into today there was definitely a possibility of sympathy. PXMD was a micro float up about 100% pm and consolidation at vwap before a classic dip and rip red to 2 green setup. Really good momentum. I was really able to tap into my strategy of buying micro pullbacks and scaling out into pops or waiting for 1min pullbacks or 5min pullbacks. I also traded breakout or bailout strategy today.
When you have a stock like this you lean into it with your share size because if you happen to take a few bad trades you can make it back since opportunities are there. Before I would have stopped trading this after i made 200 bucks but I knew there were more setups and I was able to take more trades on higher share size and it paid off. I can even go bigger and I plan to.
There is a time for small size and there is a time for big size. When the market is hot you size up! Do not buckle under volatility, that is where you thrive. Focus on the next setup and dial in.
In slower markets like in October its small to take small size because you dont drawdown too far off the high, then when its hot you can flip it back to big size and add profits instead of making back losses
Solid risk reward. Longer hold time on winners than my losers, low accuracy but by letting my winners run and hold a winning trade till target I was able to have a solid day
Easiest Trade(s) of the Day: (if you traded it, what were your entries/exits) (how did you trade it)
I was able to get some green on the red to green. The reason I gave myself a B today instead of an A was because this was a quality setup and i took my profit too quick and I even jumped back in at the halt level but sold out of fear.
I did redeem myself on the halt resumption and on the first test of the 9ema I was able to catch some shares at the low and hold till my target was hit, which was the 1min new high
What I learned or Improved upon today:
Trusting myself and my strategy, knowing when to trade more aggressively
Changes I need to Make:
Being more patient trading the frontside and scaling out slower