Day trade report - 24. July 2017 - +$537

 

A great day today.
Nate suggested that i trade lower value stocks to capture a larger range.
He also thinks im too antsy and that i exit too quickly, which i definitely agree with.
On the other hand, im trying to capture profits as quickly as possible, so i do have to be a bit antsy.
But letting something run while i have time is definitely something i have to do more, so here we go.



SRPT was first. Regarding price, this was already a bit high for me after Nates advice, but i liked the movement, so i stepped in.
I put a fishing oder out there at 42.60 for 300 shares. It took a while and was fizzling around just a bit higher, so i hit the Ask to get in with 300 shares and shortly after it dropped down further and picked up the other 300 shares as well. Thought was buying this bull flag and riding the momentum up to see if it wants to go green for the day.
When it struggled wih the 43 mark i sold half the position just in case it drops back down but it ended up going higher so i sold the rest when it failed at the previous days close line. I actually set a stop at 43.30 which it picked up nicely.
Overall i think the reason why i exit early is shown here nicely.
I lack confidence/conviction. Will definitely have to work on this in the future.


Simultaneously i was also looking at AMD and waiting for a bull flag and a bounce off vwap.
Which happened there nicely. I bought 1000 shares and kept it on until my bedtime had come.
Turns out the timing for this could not have been more perfect. This is the kind of trade i always wish for. Going my way right away with a perfect exit. Gotta love it.



Lastly, DRYS.
I had it on watch and was hesitant to trade it because Nate had warned in chat about "know what youre doing if you trade this one" so i thought i should probably stay on the sidelines and just watch it. But then i saw this PERFECT ABCD pattern and a break out on volume over VWAP and thought ok, thats one too many indicators that match and went in with 1000 shares. It was already past my bedtime (2am on a workday) and i knew i had to get to bed, so when it spiked higher  and past that upper bollinger band kind of thingy in ToS, i jumped out for another nice profit.



After the loss on Friday i was so mad at myself and LITERALLY speant the whole weekend watching trading tutorials and studying charts and webinars etc. I feel like this was a nice way to come off that loss and get back into it.

This week ill try and start trading the last two hours of the trading day and see how that goes.
If this works i could actually trade every day and make even more profits once i start trading real money.