Day 9: Daily P/L + $20.40, overall +$149.87. I inc...
# active-trading
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Day 9: Daily P/L + $20.40, overall +$149.87. I increased the spend on sleeper holds by 2x and took twice as long to pick out the best ones i could find. A couple went up right at market open and i cashed out, 2 were going up and down small amounts and i held for a couple of hours as it went my direction and finally cashed out for a decent gain. One went against me pretty badly RDDT and it was -100 at market open, i watched the trend closely and rode it down to take a loss almost half of that later in the day. I also just got my tradingview / tradestation setup working and started some of my aggressive stop loss trades. It does not update reports to next day in detail but overall i am + 2.88 from a handful of trades there. On my swing trading account i got my first margin call yesterday and went over my 10% max account risk and stop levels. I checked the market and swing trades in detail and decided to fund the margin call of a few hundred dollars and wait today to re-evaluate since we are at new all time highs and this may be a short squeeze. Thankfully today the swings are up several hundred and i am back under my 10% stop but if a market reversal does not play out in the next several weeks i may have to start realizing some losses there, and evaluate how to avoid that in the future. Relative volume on the S&P was really low considering it just hit new all time highs, if it was a real breakout there should be volume behind it, based on the insider market theory. Taking the rest of the day to prepare for my second interview with Mint Mobile.
• KO : Sleeper hold : Short 70.64 : Cover 70.25 : + .55% $15.60 • CRM : Sleeper hold : Long 231.76 : Sell 233.50 : - .75% $5.96 • MO : Sleeper hold : Short 65.97 : Cover 65.53 : + .67% $22 • RDDT : Sleeper hold : Short 223.77 : Cover 226.30 : - 1.13% $56.04 • TEAM : Sleeper hold : Long 158.25 : Sell 160.25 : + 1.26% $30 • Trading view misc trades : + $2.88 • Total + $20.40
Here is my play of the day from my preferred day trading style. The IWM was getting volume on the 5 minute around the 20 day EMA so i switched to the 1 minute to see what was happening. I saw a bottoming tail with a 9 count, and increasing volume and price action. I got in where the blue arrow and line are at just a couple minutes after the reversal. I kept moving the yellow stop loss line up as the trade got in the money to the previous candle, and got stopped out for a small profit right after taking that screenshot. I was using small amounts as i was getting used to it at first but plan on scaling up as my confidence with the tool and strategies increase. I could have got a big gain on TQQQ for a reversal but i was too aggressive moving up the stop loss and ended up getting stopped out for a small gain right before a big breakout happened.