Shared by
dpaleo
Tags:
Earnings
Fade
havent had a trade like this in a while; guess i was due for a bomb after such a good run. Put on big size on initial entries but didnt put a stop in despite seeing how sitcky the price action was and how the bid was absorbing all the selling. Then trapped myself in the "but the setup is getting better" line of incorrect thinking. This isnt poker, cant be pot committed. De-risk to keep myself in the game and gain back some objectivity.
Very much underestimated potential of this move - float isnt that small and not much short interest but the volume today is what told the story.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2020-05-06 12:15:23 | MGNX | -100 | $18.720 | -100 |
| 2020-05-06 12:15:23 | MGNX | -600 | $18.720 | -700 |
| 2020-05-06 12:15:23 | MGNX | -100 | $18.720 | -800 |
| 2020-05-06 12:15:23 | MGNX | -100 | $18.720 | -900 |
| 2020-05-06 12:15:23 | MGNX | -100 | $18.720 | -1000 |
| 2020-05-06 12:16:15 | MGNX | -98 | $18.250 | -1098 |
| 2020-05-06 12:16:15 | MGNX | -68 | $18.250 | -1166 |
| 2020-05-06 12:16:15 | MGNX | -2 | $18.250 | -1168 |
| 2020-05-06 12:16:18 | MGNX | -32 | $18.250 | -1200 |
| 2020-05-06 12:16:18 | MGNX | -68 | $18.250 | -1268 |
| 2020-05-06 12:16:18 | MGNX | -16 | $18.250 | -1284 |
| 2020-05-06 12:16:18 | MGNX | -16 | $18.250 | -1300 |
| 2020-05-06 12:16:18 | MGNX | -100 | $18.250 | -1400 |
| 2020-05-06 12:16:18 | MGNX | -600 | $18.250 | -2000 |
| 2020-05-06 12:18:15 | MGNX | -700 | $18.870 | -2700 |
| 2020-05-06 12:18:15 | MGNX | -100 | $18.870 | -2800 |
| 2020-05-06 12:18:15 | MGNX | -2 | $18.870 | -2802 |
| 2020-05-06 12:18:15 | MGNX | -100 | $18.870 | -2902 |
| 2020-05-06 12:18:15 | MGNX | -80 | $18.870 | -2982 |
| 2020-05-06 12:18:15 | MGNX | -18 | $18.870 | -3000 |
| 2020-05-06 12:19:47 | MGNX | -862 | $18.800 | -3862 |
| 2020-05-06 12:19:47 | MGNX | -100 | $18.770 | -3962 |
| 2020-05-06 12:19:47 | MGNX | -300 | $18.810 | -4262 |
| 2020-05-06 12:19:47 | MGNX | -100 | $18.780 | -4362 |
| 2020-05-06 12:19:47 | MGNX | -100 | $18.780 | -4462 |
| 2020-05-06 12:19:47 | MGNX | -213 | $18.740 | -4675 |
| 2020-05-06 12:19:47 | MGNX | -125 | $18.790 | -4800 |
| 2020-05-06 12:19:47 | MGNX | -200 | $18.770 | -5000 |
| 2020-05-06 12:19:53 | MGNX | -300 | $18.620 | -5300 |
| 2020-05-06 12:19:53 | MGNX | -16 | $18.620 | -5316 |
| 2020-05-06 12:19:53 | MGNX | -34 | $18.630 | -5350 |
| 2020-05-06 12:19:53 | MGNX | -200 | $18.640 | -5550 |
| 2020-05-06 12:19:53 | MGNX | -66 | $18.600 | -5616 |
| 2020-05-06 12:19:53 | MGNX | -100 | $18.600 | -5716 |
| 2020-05-06 12:19:53 | MGNX | -200 | $18.610 | -5916 |
| 2020-05-06 12:19:53 | MGNX | -200 | $18.610 | -6116 |
| 2020-05-06 12:19:53 | MGNX | -186 | $18.600 | -6302 |
| 2020-05-06 12:19:53 | MGNX | -84 | $18.600 | -6386 |
| 2020-05-06 12:19:53 | MGNX | -25 | $18.610 | -6411 |
| 2020-05-06 12:19:53 | MGNX | -200 | $18.620 | -6611 |
| 2020-05-06 12:19:53 | MGNX | -2 | $18.600 | -6613 |
| 2020-05-06 12:19:53 | MGNX | -61 | $18.620 | -6674 |
| 2020-05-06 12:19:53 | MGNX | -148 | $18.610 | -6822 |
| 2020-05-06 12:19:53 | MGNX | -100 | $18.610 | -6922 |
| 2020-05-06 12:19:53 | MGNX | -52 | $18.630 | -6974 |
| 2020-05-06 12:19:53 | MGNX | -26 | $18.600 | -7000 |
| 2020-05-06 12:21:43 | MGNX | -100 | $18.920 | -7100 |
| 2020-05-06 12:21:43 | MGNX | -1290 | $18.920 | -8390 |
| 2020-05-06 12:21:43 | MGNX | -100 | $18.920 | -8490 |
| 2020-05-06 12:21:43 | MGNX | -100 | $18.920 | -8590 |
| 2020-05-06 12:21:43 | MGNX | -100 | $18.920 | -8690 |
| 2020-05-06 12:21:43 | MGNX | -100 | $18.920 | -8790 |
| 2020-05-06 12:21:43 | MGNX | -210 | $18.920 | -9000 |
| 2020-05-06 12:22:48 | MGNX | -16 | $18.450 | -9016 |
| 2020-05-06 12:22:48 | MGNX | -19 | $18.480 | -9035 |
| 2020-05-06 12:22:48 | MGNX | -200 | $18.450 | -9235 |
| 2020-05-06 12:22:48 | MGNX | -600 | $18.440 | -9835 |
| 2020-05-06 12:22:48 | MGNX | -11 | $18.420 | -9846 |
| 2020-05-06 12:22:48 | MGNX | -52 | $18.450 | -9898 |
| 2020-05-06 12:22:48 | MGNX | -102 | $18.440 | -10000 |
| 2020-05-06 12:24:12 | MGNX | -100 | $18.220 | -10100 |
| 2020-05-06 12:24:12 | MGNX | -900 | $18.220 | -11000 |
| 2020-05-06 12:35:32 | MGNX | -100 | $19.980 | -11100 |
| 2020-05-06 12:35:32 | MGNX | -54 | $19.980 | -11154 |
| 2020-05-06 12:35:32 | MGNX | -10 | $19.980 | -11164 |
| 2020-05-06 12:35:33 | MGNX | -36 | $19.980 | -11200 |
| 2020-05-06 12:35:33 | MGNX | -100 | $19.980 | -11300 |
| 2020-05-06 12:35:33 | MGNX | -1064 | $19.980 | -12364 |
| 2020-05-06 12:35:33 | MGNX | -100 | $19.980 | -12464 |
| 2020-05-06 12:35:33 | MGNX | -400 | $19.980 | -12864 |
| 2020-05-06 12:35:33 | MGNX | -100 | $19.980 | -12964 |
| 2020-05-06 12:35:33 | MGNX | -36 | $19.980 | -13000 |
| 2020-05-06 12:44:40 | MGNX | -200 | $21.180 | -13200 |
| 2020-05-06 12:44:40 | MGNX | -100 | $21.180 | -13300 |
| 2020-05-06 12:44:40 | MGNX | -100 | $21.180 | -13400 |
| 2020-05-06 12:44:40 | MGNX | -100 | $21.180 | -13500 |
| 2020-05-06 12:44:40 | MGNX | -100 | $21.180 | -13600 |
| 2020-05-06 12:44:40 | MGNX | -100 | $21.180 | -13700 |
| 2020-05-06 12:44:40 | MGNX | -20 | $21.180 | -13720 |
| 2020-05-06 12:44:40 | MGNX | -100 | $21.180 | -13820 |
| 2020-05-06 12:44:41 | MGNX | -100 | $21.180 | -13920 |
| 2020-05-06 12:44:41 | MGNX | -100 | $21.180 | -14020 |
| 2020-05-06 12:44:41 | MGNX | -100 | $21.180 | -14120 |
| 2020-05-06 12:44:41 | MGNX | -200 | $21.180 | -14320 |
| 2020-05-06 12:44:41 | MGNX | -100 | $21.180 | -14420 |
| 2020-05-06 12:44:41 | MGNX | -100 | $21.180 | -14520 |
| 2020-05-06 12:44:42 | MGNX | -100 | $21.180 | -14620 |
| 2020-05-06 12:44:42 | MGNX | -100 | $21.180 | -14720 |
| 2020-05-06 12:44:42 | MGNX | -100 | $21.180 | -14820 |
| 2020-05-06 12:44:42 | MGNX | -100 | $21.180 | -14920 |
| 2020-05-06 12:44:42 | MGNX | -80 | $21.180 | -15000 |
| 2020-05-06 12:45:20 | MGNX | 200 | $21.940 | -14800 |
| 2020-05-06 12:45:20 | MGNX | 1 | $21.950 | -14799 |
| 2020-05-06 12:45:20 | MGNX | 10 | $21.950 | -14789 |
| 2020-05-06 12:45:20 | MGNX | 1 | $21.950 | -14788 |
| 2020-05-06 12:45:20 | MGNX | 10 | $21.950 | -14778 |
| 2020-05-06 12:45:20 | MGNX | 100 | $21.950 | -14678 |
| 2020-05-06 12:45:20 | MGNX | 100 | $21.950 | -14578 |
| 2020-05-06 12:45:20 | MGNX | 100 | $21.960 | -14478 |
| 2020-05-06 12:45:20 | MGNX | 100 | $21.960 | -14378 |
| 2020-05-06 12:45:20 | MGNX | 100 | $21.970 | -14278 |
| 2020-05-06 12:45:20 | MGNX | 25 | $21.980 | -14253 |
| 2020-05-06 12:45:20 | MGNX | 100 | $21.980 | -14153 |
| 2020-05-06 12:45:20 | MGNX | 1 | $21.980 | -14152 |
| 2020-05-06 12:45:20 | MGNX | 20 | $21.980 | -14132 |
| 2020-05-06 12:45:20 | MGNX | 200 | $21.980 | -13932 |
| 2020-05-06 12:45:20 | MGNX | 233 | $21.990 | -13699 |
| 2020-05-06 12:45:20 | MGNX | 50 | $21.990 | -13649 |
| 2020-05-06 12:45:20 | MGNX | 100 | $21.990 | -13549 |
| 2020-05-06 12:45:20 | MGNX | 2000 | $21.990 | -11549 |
| 2020-05-06 12:45:20 | MGNX | 50 | $21.990 | -11499 |
| 2020-05-06 12:45:20 | MGNX | 30 | $21.990 | -11469 |
| 2020-05-06 12:45:20 | MGNX | 20 | $21.990 | -11449 |
| 2020-05-06 12:45:20 | MGNX | 200 | $21.990 | -11249 |
| 2020-05-06 12:45:20 | MGNX | 200 | $21.990 | -11049 |
| 2020-05-06 12:45:20 | MGNX | 500 | $22.000 | -10549 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -10449 |
| 2020-05-06 12:45:20 | MGNX | 200 | $22.000 | -10249 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -10149 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -10049 |
| 2020-05-06 12:45:20 | MGNX | 400 | $22.000 | -9649 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -9549 |
| 2020-05-06 12:45:20 | MGNX | 25 | $22.000 | -9524 |
| 2020-05-06 12:45:20 | MGNX | 5 | $22.000 | -9519 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -9419 |
| 2020-05-06 12:45:20 | MGNX | 1 | $22.000 | -9418 |
| 2020-05-06 12:45:20 | MGNX | 3 | $22.000 | -9415 |
| 2020-05-06 12:45:20 | MGNX | 500 | $22.000 | -8915 |
| 2020-05-06 12:45:20 | MGNX | 473 | $22.000 | -8442 |
| 2020-05-06 12:45:20 | MGNX | 75 | $22.000 | -8367 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -8267 |
| 2020-05-06 12:45:20 | MGNX | 152 | $22.000 | -8115 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -8015 |
| 2020-05-06 12:45:20 | MGNX | 500 | $22.000 | -7515 |
| 2020-05-06 12:45:20 | MGNX | 33 | $22.000 | -7482 |
| 2020-05-06 12:45:20 | MGNX | 5 | $22.000 | -7477 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -7377 |
| 2020-05-06 12:45:20 | MGNX | 962 | $22.000 | -6415 |
| 2020-05-06 12:45:20 | MGNX | 500 | $22.000 | -5915 |
| 2020-05-06 12:45:20 | MGNX | 1 | $22.000 | -5914 |
| 2020-05-06 12:45:20 | MGNX | 300 | $22.000 | -5614 |
| 2020-05-06 12:45:20 | MGNX | 25 | $22.000 | -5589 |
| 2020-05-06 12:45:20 | MGNX | 50 | $22.000 | -5539 |
| 2020-05-06 12:45:20 | MGNX | 791 | $22.000 | -4748 |
| 2020-05-06 12:45:20 | MGNX | 300 | $22.000 | -4448 |
| 2020-05-06 12:45:20 | MGNX | 1548 | $22.000 | -2900 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -2800 |
| 2020-05-06 12:45:20 | MGNX | 1 | $22.000 | -2799 |
| 2020-05-06 12:45:20 | MGNX | 4 | $22.000 | -2795 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -2695 |
| 2020-05-06 12:45:20 | MGNX | 1 | $22.000 | -2694 |
| 2020-05-06 12:45:20 | MGNX | 93 | $22.000 | -2601 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -2501 |
| 2020-05-06 12:45:20 | MGNX | 1 | $22.000 | -2500 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -2400 |
| 2020-05-06 12:45:20 | MGNX | 100 | $22.000 | -2300 |
| 2020-05-06 12:45:20 | MGNX | 300 | $22.000 | -2000 |
| 2020-05-06 12:46:11 | MGNX | 200 | $22.470 | -1800 |
| 2020-05-06 12:46:11 | MGNX | 100 | $22.500 | -1700 |
| 2020-05-06 12:46:11 | MGNX | 100 | $22.500 | -1600 |
| 2020-05-06 12:46:11 | MGNX | 100 | $22.500 | -1500 |
| 2020-05-06 12:46:11 | MGNX | 100 | $22.500 | -1400 |
| 2020-05-06 12:46:11 | MGNX | 100 | $22.500 | -1300 |
| 2020-05-06 12:46:11 | MGNX | 100 | $22.500 | -1200 |
| 2020-05-06 12:46:11 | MGNX | 310 | $22.500 | -890 |
| 2020-05-06 12:46:11 | MGNX | 20 | $22.500 | -870 |
| 2020-05-06 12:46:11 | MGNX | 280 | $22.500 | -590 |
| 2020-05-06 12:46:11 | MGNX | 370 | $22.500 | -220 |
| 2020-05-06 12:46:11 | MGNX | 100 | $22.500 | -120 |
| 2020-05-06 12:46:11 | MGNX | 100 | $22.500 | -20 |
| 2020-05-06 12:46:11 | MGNX | 20 | $22.500 | 0 |
Comments
dpaleo
2020-05-08 16:16:32
metp2202 - i really appreciate you taking time to write that out. Everything you said was SPOT ON. I made so many mistakes in this trade but obviously the biggest was not putting a stop in at $19.26 or $19.31. Getting involved where I did wasnt great for the reasons you mentioned - there was no candle expansion, volume climax, price skipping etc - but that mistake is no problem if I put a stop in at $19.26 or $19.31 after it was clear the bid was still in control. It may have been partly bc i was oversized and afraid (fear kills) to take the loss. Its certainly a trade I will/must learn from.
Thanks again for your insights and well done trading it.
Cheers and have a great weekend.
Valencia
2020-05-08 21:54:06
When looking at your trades i see the skill and talent... but this is a total s*** show.
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First off, huge respect for being transparent. If I can give 1 or 2 words of wisdom, take it or leave it: when a stocks trade a multiple of its float, regardless of the size of the float, you must be aware/prepare for a potential squeeze or unusual directional move in either direction. Secondly, when I see a stock making new highs slowly but surely, I don't fight the power of the trend, I wait for either an overexertion (blow off top/ parabolic move) or a kill candle (break of trend) to get involve. On your first trade I feel like you did a good job at waiting for a change in character before initiating the trade. On your second trade, I hardly see a signal or a sign of weakness that would suggest that you start shorting. For me personally, I only started to short at around 23.5 when the candles were becoming much bigger and when the tape was starting to skip levels. That was my sign that the top was potentially IN. And again, I was with 1/8 or 1/10 of my max position. I was willing to let it run to 30 if it really wanted to. Lastly, when shorting on the front side of a move, if you keep doubling down you NEED to pay yourself on small flushes or at least take a small loss and reduce your exposure. If you accumulate and accumulate like you did without taking some off on the quick dips, than your exposure is exponentially higher and you are WAY more likely to blow up or take a massive loss. And even if you don't take the loss, this is just bad habits and a recipe for disaster in the future. If you are not able or willing to take the risk that the stock might continue to squeeze, then you have no business getting involve on the front side, you rather want to wait for a top to have a SET LEVEL to risk off of. Take this as a lesson, all great traders take massive losses at some point, the best of the best learn from them and survive. I'm sure you'll get back on track. Have a good night.