Updated: Apr 19
Hey there! I hope you had a great week! Another week in the books! This past week has been an absolute blast, to say the least. Today’s post there will be a Video Recap, along will a recap of trades which I took this week. Along with some of the recent runners from this past week. Let’s dive right in!
3 Trades this past week - $OBLN, $AGNPF and $KNOS
As I mentioned in the last week’s weekly update my main emphasis was to filter out the noise. Not allowing FOMO ( Fear of Missing Out ) place the trade. Along with not using a larger max dollar loss on a given trade. As for my Account Size, that max dollar loss would be $30-$40 not taking into consideration slippage. This past week I am still struggling with that very problem. Again I know what must be done, but saying it is one thing, but doing it is another. $OBLN was another FOMO trade that I went long into strength! Once more I need to focus on buying weakness and selling strength. I did not notice the double dop, and I was like a dear in headlights. I ended up holding $OBLN overnight, simply because I did not manage to get out after hours since I was working. I take full responsibility for my actions. $AGNPF was another buying into strength, this was an OTC stock. I was aiming for a potential morning spike, but my thesis was invalid. I got the hell out. Minor loss on that one. $KNOS was the top percent OTC runner on the day. I am currently long 10k Shares from a $.024 avg. Again I will play by the odds. $KNOS is a top sector play with the COVID-19 pandemic. If there is no gap, then my thesis is busted. OTC has not been holding their spikes lately, but it’s all about adapting.
Once more I am not proud to share my losses, but its all Market Tuition. I must learn what NOT to do, in order to help my trading in the long run. Being Transparent is my main objective within every post as I strive towards the state of consistency. My main goal as a Trader as first Long term survival. 90-95% of those who come to the Markets Fail or Quit within 1 year. I am willing to suffer now, so I can make it in the long run. It May sound odd, but I am glad that I am loosing. I’ve said this is a prior Blog post. This was before I even traded. I told myself that the worse thing that could happen would be if I started winning out of the gate. By winning out of the gate, that would blow up my Ego. Leading to the conclusion that Trading is easy. I am glad that I am loosing, sound odd, but I hope one day you understand. Failure gives success is flavor in the end!
Recent Runners from this Past Week: $SNGX $ENDT $ATOS $MEIP $CPHI $APDN $TRNX $ICD $WORX $CYDY
It seems like every day there has been another COVID-19 sector play. Once more you don’t have to play guessing games. Focus on Big% gainers and let the trades come to you. There is a lot of people that I see trying to Predict! Once you stop trying to predict, and strat to REACT everything will fall in place. As well you do not have to be first to take apart of the move, there has been tons of Range on these stocks lately. Have your set entry price and entry when the price action proves your hypothesis. You exit when your Thesis in the Trades is busted! As well another common problem I see it other traders playing follow the leader mentality. Understand that every trader is unique in their own way. That is the beauty of the Financial Markets. There is tons of way to make money out there, the key is to focus on your Niche. Focus on your personality as a Trader. Now I am not going to lie and say I’ve found my Niche. That would be a lie. Once more the goal is to track my trading process in route of becoming a Consistent profitable trader!
Gap Shorts ( $SNGX $ENDT $ATOS $MEIP $CPHI $APDN )
What is Gap Short?- There is no exact definition, but this has been one pattern that I have tracking since late 2018. I’ve noticed that this one pattern never fucking changes. Again there is going to some differences, but nevertheless, the pattern holds true. Simply a gap short is a stock that Gap up from the Previous close and retraces 10-15% off the pre-market highs. The odds say that the stock will not reclaim the pre-market high. For more info check out the live footage below. In addition, I am going to drop some additional footage of Gap Shorts from my Paper Trading days a Trader.
$TRNX was a massive short trap. Congrats to all Longs as they will be rewarded. Ideally, wait for the first red day along with volume exhaustion. $WORX and $ICD were First Red day’s that were great Shorts. Congrats to all shorts who nailed those two. Understand that you don’t have to catch the exact top long or short to take part of the move. Shorting wise, these stocks can go higher than you think. Wait for the trend to change, volume and topping action. As going Long you do not want to chase a stock that has become over-extended. For example, $CYDY was a gift for shorting. I know some people who held $CYDY thinking it was going to go higher, and now they are underwater. Holding and hoping is not a strategy as my Guru Timothy Sykes would say.
Once more I am long $KNOS. I will report back next week! See you soon!
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