Bought sm@15.8899 (should have had a much earlier trigger... I was looking at supply out a very long time ago). Will clean this up to focus only on near term supply manually sold CBT because it was clear my signal wasn’t a breakout @58.375. Will resetup
Code: Date Ticker Shares Open Close Realized P/L Unrealized P/L 3/1/2021 SLCA 1000 13.8436 13.2301 -$613.50 3/1/2021 APPS 50 89.13 $0.64 3/2/2021 APPS 50 100.4596 97.1624 -$164.86 3/2/2021 EOLS 300 13.1802 $0.00 $173.94 3/3/2021 FIX 100 67.5399 $0.00 $71.01 3/3/2021 CPE 500 29.1599 $0.00 $945.05 3/3/2021 CTB 250 58.5076 58.375 -$33.15 $0.00 3/3/2021 SIG 100 53.6363 53.0509 -$58.54 $0.00 3/3/2021 SM 1000 15.8899 15.5604 -$329.50 $0.00 A few course adjustments need to be made. I'm going to move to standard sizing. I was ranking them before the breakout, and weighting them. I think that's a mistake. It'll also prevent me from getting starry eyed, especially for irrational reasons (and one could argue all reason is irrational, it's just whose irrationality are you going with). I'll save the scaling up question for later (I'm also open to feedback). I've been a tad loosey on the breakout levels. While I understood there would be false BO's... I was trying to prevent it too much. I did a good job of it on CTB cutting it as soon as I saw no movement. SIG was just a false BO. There's nothing to be done there, except reset it up. SM... That's just poor breakout leveling on my part. I was looking at supply that existed at a tad bit of a higher level a-ways back. I'm used to that being a consideration on an instrument that hauls volume. SM is not that. I'm resetting it up. I'm still working on the BO levels for CDXC... Right now it's a bit loose. I'm also looking at SOS for BO levels. Side note - this many trades/day feels like my hands are more than full, even if I'm not actually pushing the button most times. It's certainly different that my base positional trades, which happen in-often, and are done during accumulation phases... the opposite of breakouts. This will be a good arrow to have in my quiver once I work the edges off. I'm already able to tie some ideas together for me to contemplate between the two. 8 trades in 1 day feels like serious overtrading. Certainly I can mange the number of stocks I look at in the future.
OK, just getting to this now. Checking to see what's has happened in depth. First up, EOLS EOLS I bought @9:34, 300 shares. Stop was at 13.12. It got filled at 13.1802, or 0.06 slippage (0.46% that's seems big, but maybe that's the gig on market orders. That's almost a full percent round trip). The range on the 15M was 0.95, or 7.2%. Combined I'm looking at 7.7% of the price (in reality the slippage is contained in the range, and I can and will use it to pull my stops in). That's certainly not the range I'm playing. This was not really a breakout so much as a move to the breakout level. Volume did not follow. Which are sometimes BO's on their own. This was not the case here. It was followed by a down day today, after touching 14.72. Next breakout set above 14.72 following a cup and handle. I'll be looking for volume to follow. I'm tracking range and slippage for everything including when it wasn't a breakout. FIX So far this would be considered catching the BO, but volume didn't follow... I'm expecting this to tail off and get stopped out. I'll see if it follows through tomorrow on volume. If not, then there are no institutions playing along yet. B @9.42am. stop @67.17, filled @67.53 (0.54% slippage), range 0.99 (1.5%, much more manageable than EOLS). The 1M had 4.8k (300 were mine) opened at 66.95, and I got the high print. Which also means I was the last to the table. 67.06+ is where the move began. 0.11 of play there. Not too many participants for this one. Lets see what happens next. The only real successful breakout catch so far has been CPE. The rest have been false. I missed on SM with shitty levels. It happens. I'll do more later. I added more tickers. We will see what kind of day tomorrow brings.
I'm going to shortcut the images, and just post the trades- TS +250 22.265 MCS +250 21.32991 MCS -250 20.86008 -$117.46 ELOS -300 12.8401 -$275.97 FIX -100 66.635 -$161.50 I resetup MCS, and FIX and ELOS. TS wasn't much of a "breakout".
One false breakout today... SLCA +1000 14.49696 SLCA -1000 14.0001 -$496.86 I manually exited this position as it clearly didn't break. Summary so far in the image. Net/Net after a week, +$3,060.55 Selling 1/2 of CPE on Monday.
A flurry of activity this morning. I’ll get to looking at each later. A bunch of failed breakouts, one breakout that I stopped out, and ran away... I also sold 1/2 CPE locking up some gains.
2 new positions opened and stopped out. This is the relevant 2 entries (plus about 6 more stop outs, most of which I re-setup).