Shared by
dpaleo
Tags:
failed new high
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2020-09-16 14:09:45 | NVAX | -100 | $125.920 | -100 |
| 2020-09-16 14:27:40 | NVAX | -1 | $124.900 | -101 |
| 2020-09-16 14:27:40 | NVAX | -99 | $124.880 | -200 |
| 2020-09-16 15:14:04 | NVAX | 3 | $123.120 | -197 |
| 2020-09-16 15:14:05 | NVAX | 11 | $123.120 | -186 |
| 2020-09-16 15:14:05 | NVAX | 5 | $123.120 | -181 |
| 2020-09-16 15:14:05 | NVAX | 5 | $123.120 | -176 |
| 2020-09-16 15:14:05 | NVAX | 5 | $123.120 | -171 |
| 2020-09-16 15:14:05 | NVAX | 5 | $123.120 | -166 |
| 2020-09-16 15:14:05 | NVAX | 1 | $123.120 | -165 |
| 2020-09-16 15:14:05 | NVAX | 10 | $123.120 | -155 |
| 2020-09-16 15:14:05 | NVAX | 5 | $123.120 | -150 |
| 2020-09-16 15:24:28 | NVAX | 5 | $122.150 | -145 |
| 2020-09-16 15:24:28 | NVAX | 5 | $122.150 | -140 |
| 2020-09-16 15:24:28 | NVAX | 28 | $122.150 | -112 |
| 2020-09-16 15:24:28 | NVAX | 12 | $122.150 | -100 |
| 2020-09-16 15:24:51 | NVAX | 50 | $121.760 | -50 |
| 2020-09-16 15:27:35 | NVAX | 50 | $120.550 | 0 |
Comments
dpaleo
Morning Joel, i'm sized wayyyy down right now bc i'm in the midst of a 6 week brutal draw-down that has destroyed my confidence. Sizing down, slowing down, and being very selective is how I usually get out of slumps. Sizing down is obviously important to protect capital but for me to try and re-capture good process trading. I size down so much so that the PnL (gain or loss) is so insignificant that it allows me to shift all my focus back to my process and to setups+execution. During prolonged slumps or sizable draw-downs my focus tends to sway toward every PnL tick and away from Process - sizing down significantly is a way for me to re-shift my focus.
Joel
Thanks for the reply. Makes total sense....I too struggle with tick by tick PnL when sizing. I'm doing the same today after my largest daily gaining streak, I made a bonehead move thinking I was sized small enough to start short on SNOW ipo and covered my "starter" in panic after the halt, in an almost $40 1min candle, ending up top ticking the damn thing at $319 in an instant...for my biggest single execution loss ever. That's me buying the top print for this stock probably for the year..........haha yeesh!
damn. it happens tho. I bot (covered) pretty close to the CHK top bc of risk issues.
I stayed away from SNOW yesterday bc still in rehab mode and didnt need that heroin in my trading life. Normally i would be shorting the heck of it.
Forgot to mention the best/biggest part about sizing down - regaining objectivity in the setup and price action. Removing emotions. This week i finally feel like i'm starting to regain some of that objectivity.
Joel
Good call. Important to gain objectivity for the RIGHT setups too... I've been finding a drastic drop in number and quality of setups for myself compared to previous months. Which led me venturing into things like SNOW ipo.
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I notice your size is way down compared to prior months. What led to that? how are you going about this and why?