Date: 10/30/23
Goal: (One Thing you Are Trying to Improve upon)
Exit Strategy
Grade: (How Well Did you Achieve your Goal)
(C) - purely based off not recognizing the risk and did not define my exit strategy with a 10-15 cent spread causing me to insta-loss multiple times
Morning Temp: (Emotions, Sleep, Energy)
Still Somewhat Sleepy and Groggy, Moderate to low energy
Overview for Each Ticker: (Chart Screenshots, news, stats, General Performance, etc)
Ticker & Sector: RVPH
News: Reviva Announces Positive Topline Results from Global Pivotal Phase 3 RECOVER Trial of Brilaroxazine in Schizophrenia
Float: 17m
Intraday Chart:
Daily Chart:
Details: This stock had a 10 - 15 cent spread on a 4$ stock price. I was not very prepared trading this. It was a heavy backside out of the open and I was taking 10 cent losses 3 times on the spread alone. I was working the opening range dip and rip setup and potentially through the highs, my backstop was vwap. I followed the system well but it didnt work out, the only thing I would have done different is sit on the bids instead of buying market orders. I did well cutting 90% of my shares before the breakdown of vwap. I also did well by keeping my head straight and was able to make some profits on VYNE
Ticker & Sector: VYNE
News: VYNE Therapeutics Announces Positive Data from Phase 1b Trial for Novel BET Inhibitor VYN201 in Patients with Nonsegmental Vitiligo
Float: 3m
Intraday Chart:
Daily Chart:
Details: This stock had weak momentum after the open and had minimal opportunity other than a few dips here and there. I was able to follow a dip strategy system on a ranging stock. So this mean I was focusing on buying dips off support levels, in this case, vwap. And sell on the reversion back to the mean on small time frames. I was not holding for new highs, and because of that I was green. This stock did not break the key pivot point of 3.50 indicating ranging price action. After a break of 3.50 then it is more reward potential holding for new highs
Statistics:
Easiest Trade(s) of the Day: (if you traded it, what were your entries/exits) (how did you trade it)
The easiest trade of the Day was probably RVPH mid day, I was not trading at that time but it did look pretty clean and moved with some momentum from 4-6 dollars. Halt Resumption Trade and First Pullback after breakout, and the 5min ema dip and retracement
What I learned or Improved upon today:
Getting back on the horse after a setback, not letting a dumb mistake beat me up mentally.
Changes I need to Make:
When there are 3% spreads on a stock, you sit on the bids instead of buying market orders. This was the cause of my red day
Youtube Recap:
