Day 6: daily P/L +44.70, overall 88.70. 3/5 sleepe...
# active-trading
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Day 6: daily P/L +44.70, overall 88.70. 3/5 sleeper holds were profitable and 2 i got out with a small loss. Took one additional mean reversion trade to short the SMH for a slight gain by moving my stop loss up even though it jumped back up quickly away from my target price. I improved how i am tracking my trades myself since Fidelity does not calculate it correctly until later if you have traded the same stock before, hopefully trade station will do better. I am excited to scale up the amount about 3-5 times next week i am trading with and set a goal for 100-300 per day. I also had one interview already with Mint Mobile and have put in another dozen applications at what look like good targets. Thanks for the support here on my first week after getting laid off from work, good shabbos.
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• BSX : Long : 102.97 : Sell : 104.05 : P/L + 1.05% $16.20 • ETN : Long : 362.44 : 361:33 : P/L - .30 % $4.44 • DASH Short : 269.85 : Cover : 265.50 : P/L + 1.61% $21.75 • SE : Long : 149.50 : Sell : 150.75 : P/L + .84% $12.50 • MDLZ : Long: 62.50 : Sell : 62.43 : P/L - .11% $1.75 • SMH : Short : 292.85 : Cover : 292.74 : P/L + .04% $0.44
Play of the day: SMH short mean reversion trade, i was watching for the upper wicks on the candles to increase showing selling pressure and a trend reversal confirmed on the 1 minute as well as RSI overbought condition. Shorted at 292.85 with a stop of the break of the upper wick of the previous candle. I then pulled a Fibonacci retracement from the previous low pivot to the upper wick of the previous candle and was hoping for a 382 retrace but once i saw it bounce very clearly off the 236 i moved my stop down to about half way up the candle in case it reverse i would get stopped out for a small profit instead of holding if it went higher. Before i could even check the price again it bounced and i had stopped out for a .44 cent gain instead of holding with the possibility of it going higher and turning a winning trade into a losing trade. This is one of my personal favorite types of trading with tight stop losses second to the sleeper hold, eventually you get one of these that takes off with a decent gain, and the ones that don't stop out for a small loss or gain.