Goal: (One Thing you Are Trying to Improve upon)
Grade: (How Well Did you Achieve your Goal)
B - Did not have the best entries today but on the trades i did take, i cut my loss when I was supposed to and sold at a proper time for most of my trade. There was 1 small trade I sold a bit soon on LIFW
Morning Temp: (Emotions, Sleep, Energy)
Slept well and was ready to tackle the day
Overview for Each Ticker: (Chart Screenshots, news, stats, General Performance, etc)
Ticker & Sector: LIFW
Details: This stock faded hard after the rally up to 17 bucks on the previous day, this was a prime candidate for a dead cat bounce setup. I actually was not prepared for this, I should have anticipated this premarket. I was really conservative coming into the open which made me not capitalize on moves that required chasing and buying high. There were no pullbacks on LIFW you just needed to buy high and sell high on micro dips on a fast moving, large spread, parabolic stock. These are the moves that can make you lots of money but the risk is also high if you are not experienced in these types of moves. I did not trade the frontside at all, I traded the first pullback, and I was a bit early which caused me to fumble to trade and we never had any significant bounce on the backside on this. Especially since it was a dead cat bounce setups the backside is likely rough and little support since you have shorts adding to their position now instead of squeezing out and you have trapped longs trying to cut their loss. The opportunity was the frontside, but you had to be extremely aggressive.
Ticker & Sector: CDIO
News: Family Medicine Specialists Selects Cardio Diagnostics’ Epigenetic-Genetic Tests for Assessing Heart Attack Risk for its BlueCross BlueShield Patients
Details: This is another multiday runner, which I thought would not be the best one in play but we did get a 30 cent move out of the gates that I slept on because I was a bit too conservative because of the lack of premarket momentum. The idea was to wait for strength, but by the time i saw strength the move was over. This dips on this did not hold up either. I tried buying the first pullback after the fresh breakout and it did not hold up. This ticker was overall choppy, we got a half-ass attempt at the mid morning push, I was able to catch a quick pop but we didn’t accelerate to HOD and squeeze out which was disappointing.
Lack of taking any quality trades today, a bit more conservative than I should have been
Easiest Trade(s) of the Day: (if you traded it, what were your entries/exits) (how did you trade it)
LIFW was NOT the easiest trade of the day, these were very risky advanced setups.I would say CDIO was the best setup for the gap and go trade through the highs.
What I learned or Improved upon today:
Sometimes waiting for strength means you miss the move. Need to anticipate the winning ticker premarket, for example LIFW was more obvious than i though after the fade from 17s and no dead cat bounce but forming a solid support.
Changes I need to Make:
More technical analysis on recent tickers that may pop back into play. Looking for technical setups