Shared by
Saisxyo
Watched it all morning.1st trade: Enter @ 3.17, risk 3.09, aim for 3.40. Out 3.08
2nd: Higher lows @ 3.06. Enter with 20 shares @3.115. Risk 3.06. Aim for 3.30+. Sold 12 @ 3.30. 2 @3.36. the rest @ 3.30.
3rd: Saw it coming back from new low @ 3.27. Enter @ 3.39 with 10 shares. Risk 3.27. Aim for 3.70s. Out 3.58 when it did a quick spike then dip @ 3.65.
4th: Reenter @ 3.736 w/10 shares. Risk 3.68. Aim for 3.90-4. Sold 2 @3.83. Out on a fakeout.
5th: Moved up again. New low @ 3.68. Enter 3.81, risk 3.75. Aim for 4.00. Sold 4 @ 3.94. Sold 6 @3.745. Should've sold the rest above 3.90s. Already 3Rs.
6th: Enter 3.95 w/10 shares, risk 3.90. Out 3.88
Stopped watching the ticker. Saw it coming back again.
7th: Enter @ 3.925 w/20 shares. Risk 3.85. Out @ 3.84.
8th: Higher low. Risk 3.80. Enter 3.84 w/20 shares. Aim for 4+. Sold 10 @3.952. Sold 5 @ 4, 2 @ 4.03, 1 @4.06. Held 2 for 4.10, risk 4.00 break. Out 3.965
Mistakes:
---Overtrade. Some of my losses were from different setups than the setup of buying off the new low. Choopy trades today. This stock above 3.50 should have been just a dip buy off the low bounce and not an anticipation of higher move. Especially when it was approaching 4.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-09-15 08:40:42 | MRNS | buy | $3.166 | long |
| 2020-09-15 08:46:34 | MRNS | sell | $3.080 | long |
| 2020-09-15 08:46:34 | MRNS | sell | $3.080 | 0 |
| 2020-09-15 08:47:38 | MRNS | buy | $3.115 | long |
| 2020-09-15 08:52:14 | MRNS | sell | $3.300 | long |
| 2020-09-15 08:52:40 | MRNS | sell | $3.360 | long |
| 2020-09-15 08:53:13 | MRNS | sell | $3.300 | 0 |
| 2020-09-15 08:57:00 | MRNS | buy | $3.390 | long |
| 2020-09-15 08:57:00 | MRNS | buy | $3.390 | long |
| 2020-09-15 09:00:28 | MRNS | sell | $3.580 | 0 |
| 2020-09-15 09:17:02 | MRNS | buy | $3.736 | long |
| 2020-09-15 09:18:33 | MRNS | sell | $3.830 | long |
| 2020-09-15 09:21:55 | MRNS | sell | $3.680 | 0 |
| 2020-09-15 09:23:57 | MRNS | buy | $3.810 | long |
| 2020-09-15 09:29:15 | MRNS | sell | $3.940 | long |
| 2020-09-15 09:32:10 | MRNS | sell | $3.745 | 0 |
| 2020-09-15 10:24:20 | MRNS | buy | $3.950 | long |
| 2020-09-15 10:26:08 | MRNS | sell | $3.880 | 0 |
| 2020-09-15 10:28:17 | MRNS | buy | $3.925 | long |
| 2020-09-15 10:29:26 | MRNS | sell | $3.840 | 0 |
| 2020-09-15 10:37:53 | MRNS | buy | $3.845 | long |
| 2020-09-15 10:43:05 | MRNS | sell | $3.952 | long |
| 2020-09-15 10:45:20 | MRNS | sell | $4.000 | long |
| 2020-09-15 10:47:00 | MRNS | sell | $4.035 | long |
| 2020-09-15 10:49:15 | MRNS | sell | $4.060 | long |
| 2020-09-15 10:50:39 | MRNS | sell | $3.965 | 0 |
Comments
Saisxyo
My giving back profits trade were also poor trades. it was only some of my buying off the new low that made back my losses and a bit more. It was choppy between 3.50 and 4.00
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this cost me $65 today.. so i traded it very poorly.