Shared by
dpaleo
Tags:
exact same action as low $13s earlier. Volume churning without much advance - heavy. This time entered before the slam. Well done.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2021-04-15 15:32:35 | WHLM | -1000 | $12.250 | -1000 |
| 2021-04-15 15:36:05 | WHLM | 190 | $11.400 | -810 |
| 2021-04-15 15:36:32 | WHLM | 310 | $11.420 | -500 |
| 2021-04-15 15:36:33 | WHLM | 200 | $11.320 | -300 |
| 2021-04-15 15:36:42 | WHLM | 100 | $11.160 | -200 |
| 2021-04-15 15:43:09 | WHLM | 100 | $11.070 | -100 |
| 2021-04-15 15:43:10 | WHLM | 100 | $10.840 | 0 |
Comments
dpaleo
was actually risking vs 12.61 bc felt like it needed to work soon and if got back above .60 then good chance its running to 13
burnerMike
That's a nice trade. The high volume on the bullish candle right after 3pm followed by the immediate rejection on even higher volume was very telling. Then the added confirmation of a second lower high (double top) on lower volume was an excellent set up. It was a good indication that there was no demand above 12.50.
Joes_Trading_Shop
Need some words of wisdom from you again if possible :) Im finding myself changing courses a lot with trading. I used to only short the small caps, got a way from it due to always trying to find borrows and since I work in the financial industry I cannot have my account anywhere I want so it can be an issue, switched to large caps for over a year, profitable, but nothing to brag about. A few months ago I went back to shorting small caps but once again with borrows and some of the moves these stocks can make with the bottom falling out only to reclaim HOD and run some more I just am not sure quite what to do........and of course I am thinking about switching back to large caps again. Any advice on your end? Also, in the beginning did you scale your risk on each trade......or did you have a certain $$ amount you were risking and it grew from there?
hey dtd. Thats a tough spot to be in. I think you need to do what's most profitable and what youre most comfortable doing (likely the same thing). Ideally, you'd be able to trade the small caps where borrows werent such a huge issue and then trade large caps as well. It helps to have the ability to do both so when small cap action dries up you can trade the large caps (and vice versa). If large caps are in-play i always prefer to trade those. Like you said, the low floaters where one or two algos are controlling the float can be really tough as they are so good at trapping and running/squeezing shorts.
I had a certain daily loss limit and it grew from there. I try to size each individual trade based on a % of my daily risk.
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Another nice trade! We’re you risking off of 13 or HOD?