Shared by
metp2202
Tags:
Penny stock ticker running on some poor catalyst, wish this one would have gone more parabolic, the real trade was above 0.7 but we never really got there. Took a stab at it but quickly realized that I was being a picker so I took it off. SSR too, just a bad situation, better to avoid and wait for those better opps.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2022-01-25 13:10:23 | XELA | -15000 | $0.5971 | -15000 |
| 2022-01-25 13:20:00 | XELA | -1 | $0.5851 | -15001 |
| 2022-01-25 13:20:08 | XELA | -15000 | $0.5850 | -30001 |
| 2022-01-25 13:20:58 | XELA | -82 | $0.5840 | -30083 |
| 2022-01-25 13:20:58 | XELA | -7911 | $0.5840 | -37994 |
| 2022-01-25 13:26:40 | XELA | 37994 | $0.5879 | 0 |
Comments
metp2202
There's no great answer for this question unfortunately. Experience I guess. I think that I have a good understanding of my playbook/ what makes me money and I have a good feel for the pivotal point where I know it needs to go down or else my thesis is totally wrong and I need to cut. Keeping a book of chart and tracking those trades on a daily basis helped me quite a bit I think. I have captured 2000+ charts in the past 2 years and I study them few times per week. Eventually you just develop another sense and you're able to put some size cause you have a lot of conviction.
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I've been looking at a lot of your trades and you seem to be really good at sizing in heavily into the trades that work for you and are able to stay relatively small when you are on the wrong side. I am struggling to find that point where I have enough confirmation to feel confident to size into a trade. What give you confidence that you are on the right side of the move?