CELC Trade on Apr 12, 2021 08:18 from JustAPenguin: Tradervue User Stock Trades.

Gravatar

Shared by
JustAPenguin

 

Margin call !!
I know this will be the last trade since my persistent losses, with down to $1k in capital..
It all started with the stock having a wide spread of $0.5-0.8, when it hit my intended stop-loss at $21.8, i refuses to sell due to the large spread. Then the waiting game and brain freeze starts. The more i wait, the larger my losses. When it reaches $300 losses, i just decided to leave it to rot.. and waalaa margin call.
Guess will just rest awhile for my next paycheck to enter the game.
This is my 7th month into day-trading, putting small capital of $1-2k each month but sadly none able to last before the next paycheck (blow-up account 7th times in 7 months). Day-trading is hard because of the psychological part. Need to willing to loss small at times in order to win big. The only good thing is I am still having a fixed salary job, i do not take any loan and i have a supportive wife..

Technical Analysis
-a stock with previous trading day catalyst, gap up for ~70% but unable to sustain post market opening on D1.
-D2 low float stock with pre-market downtrend, decided to short to earn the price retracement, with aim to cover at 50% Fibonacci level.
-however problem with low volume is the large spread and susceptible to attack by large capital. There is a trader/fund that keep hit 'market buy' at around 50k shares and causing the price spike, which follow by 'market sell' few minutes later with equal share size. This cause a sense of volatility and attract others traders and thus the overall price hike. Underestimate the price hikes, hitting new high with much lower volume compare to D1 catalyst.


Execution detail:

Date/time Symbol Side Price Position
2021-04-12 08:18:34 CELC sell $21.500 short
2021-04-12 09:28:35 CELC buy $21.100 0
2021-04-12 09:39:00 CELC sell $21.330 short
2021-04-12 11:42:18 CELC buy $24.400 short
2021-04-12 15:53:24 CELC buy $27.898 short
2021-04-12 17:58:04 CELC buy $28.500 0


Leave a comment about this trade!

You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes just a few seconds to sign up, and it's free!

View plans, Sign up for free, or Log in