Shared by
dpaleo
Tags:
kept sizing small off open and it was clearly being held up so was alert for the run of new high and fail. Stopped the small starter on news highs to be safe and then hit the fail with 3x the size. Great trade.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2024-01-09 09:39:02 | NKTX | -500 | $11.130 | -500 |
| 2024-01-09 09:54:16 | NKTX | -200 | $11.150 | -700 |
| 2024-01-09 10:11:06 | NKTX | -200 | $11.030 | -900 |
| 2024-01-09 10:15:19 | NKTX | 400 | $11.265 | -500 |
| 2024-01-09 10:29:25 | NKTX | 92 | $11.495 | -408 |
| 2024-01-09 10:29:25 | NKTX | 408 | $11.500 | 0 |
| 2024-01-09 10:30:18 | NKTX | -1204 | $11.250 | -1204 |
| 2024-01-09 10:30:22 | NKTX | -101 | $11.260 | -1305 |
| 2024-01-09 10:45:25 | NKTX | 305 | $10.580 | -1000 |
| 2024-01-09 10:45:37 | NKTX | 100 | $10.550 | -900 |
| 2024-01-09 10:45:38 | NKTX | 200 | $10.520 | -700 |
| 2024-01-09 10:48:03 | NKTX | 100 | $10.430 | -600 |
| 2024-01-09 10:49:29 | NKTX | 200 | $10.370 | -400 |
| 2024-01-09 10:57:23 | NKTX | 100 | $10.270 | -300 |
| 2024-01-09 11:05:35 | NKTX | 200 | $10.170 | -100 |
| 2024-01-09 11:05:39 | NKTX | 100 | $10.080 | 0 |
Comments
dpaleo
8Ballz, wow! I m blown away by this. Thank you.
After doing a 2023 Review I came to a similar realization. I try to contra too many names that arent truly extended. Something being "up a lot" or "up too much" (what does that even mean?) is not a reason to contra. So I'm trying to be much more selective and focusing on quality of the setup (true extension, aligning timeframes) and also trying to become more systematic with entries and exits. I've had a few good ones so far this year: CRWD yesterday, SATS on 1/10, ZIM on 1/5 was decent but missed the better setup in afternoon.
Really looking forward to you thoughts. Cant wait to keep the discussion going.
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I'm currently going through all your trades. I'm on page 345 from 600's. First Thank you for sharing your knowledge/ journey! Second I just want to bring this up to your attention since I sorta have an intimidate relationship with your style of trading now.
This setup tends to take more than it gives. Yes it works sometimes but THAT IS THE PROBLEM! Since it works sometimes we are creatures of habit and we'll take the setup the next time and so on. Look at today's AMD trade you took, the first trade worked but the second did not. Price is not Overextended and that trade didn't work twice but it worked here in small cap land. Your best trades are always when price is Overextended ON ALL time frames.
I will share my thoughts with you soon. Just something I noticed that you keep doing but it usually doesn't end well.