MY TRADING RECAP 08/09/2019

MARKETS WERE ON FIRE TODAY!

But sadly I was working lol. I was able to get a couple of trades in later in the day. I should've walked away when I was up $700, but I gave some profits back to the markets ($200 and some change), and I will break down my trades. Overall not a bad day for momentum trading today, it was scalp central!

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1. $RKDA

Entry: 3.96
Exit: 4.21
ROI: 6.3%

This was a great momentum setup! The volatility was crazy on this stock this morning. I saw strong support around 3.70-3.80, and after confirmation pushing above the SMA... I wanted to ride the volume to $4+ buy the dip, sell the rip type of deal.

 

I didn't want to get greedy because I was up $250 on a quick momentum play, so sold at validation of a downtrend. The volume was there but very volatile. Later on in the day I attempted to re-enter but kept getting stuck in false breakouts. So I walked away for a little, and got occupied with work.

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2. $CEI

Entry: 0.3203
Exit: 0.3525
ROI: 10%

After waiting for confirmation of a reversal, I wanted to scalp this bad boy to 0.34+ after noticing more than normal volume on it.

I sold 75% of my shares at 0.3505 because my original PT was 0.34 and I wanted to ride the rest. After seeing 0.35 get rejected, I went ahead and sold the rest of my position at 0.3525.

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3. $CEI round 2

So instead of riding out the rest of my share like I originally planned, this bad boy went ahead and ran to 0.37 without me! After analyzing the 180D, a breakthrough of 0.40 and it traded above resistance. The volume was there, so I took a position again at 0.3751 to ride the breakout of 0.40+

Entry: 0.3751
Exit: 0.42
ROI: 11%

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4. $CTST

Shout out to Nick from the WhatsApp trading group. Free to join, just let me know if interested!

Once this ticker was brought to my attention, I jumped in at 2.98 to ride the volume above 3.00. I knew it was going to be big a sell-off because this was moving on no news. I locked in my profits due to the volatility of it.

Upon confirmation:

Entry: 2.98
Exit: 3.15
ROI:  5%

In the summer months it is key to focus on consistency. Take profits when you got it or at least scale 75-85%!

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LOSING TRADES: $RKDA $CEI (later in the day) $YRIV (sold to trade $CEI).

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DISCLAIMER: Please note that I do not ask for any information. I always encourage people to trade ONLY what you understand and never based on anyone's opinion.

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