One of my best days in months, up $2,403.88 thanks to MU, and VKTX. My LEAPs on NKE and MU are also doing extremely well, I’m close to the point where I can start selling some calls on them to generate additional income and reduce cost basis.
I traded a lot today, way more than I normally do, but was able to get out of VKTX with a win. I traded it four times premarket, two wins, one flat, and one loser, and then at the open, got in when the bear flag sort of failed (see chart). I got in thinking the reward was gonna be $26.07 or $28.01~ but I knew I had to lock something in as I was already up more in two minutes than I was in all of the last few days. $2-3 move and I was able to capture just about half of that in 6 trades feels good. I managed my risk how I’d like to, especially when I got back in for the $23 retest (which kind of failed for me, I profit stopped out, and didn’t get to enjoy the $24 test), but still a great trade.
MU was the easiest one of the day. Take a look at the chart, such a clean bull flag just below that gap entry. I got in long, and rode it up. My buddy @reiss.trader
took the similar move, good to see that I wasn’t the only one seeing that move. Especially because I’ve been extremely bullish on MU. Really feels good to get these wins, but I also made plenty of mistakes. I could’ve had better entry targets on MU. I lost on AMD after being up significantly on it because I went in big size. The confidence of being up so much on VKTX carried over to AMD and I hit my stop on the drop below $33, taking out my initial wins on it for the day.
Emotions are such a big deal in momentum trading. Yeah all this crap is easy to see after the trade but when things are chopping around, it takes a lot of backbone to hold true to your rules. Glad for the win, but also humble that it could’ve gone the other way had I not calmed down after the first win.
Looking to take this experience with me into the days to come and trade confidently but carefully. See you guys tomorrow. Steak for dinner 😏✌🏽
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