132 [BIG opportunities ruined by the gap down. Did nail $NKLA short though. Jun 9, 2020]

  • Gap down super annoying, ruined setups. Now we have to wait for secondary setups.
  • NKLA gapping up though, I sold my last shares at the close yday so I would be able to focus on the short today. It could be very choppy even go to 120 today, it doesn’t have to go down, ideal scenario goes 120 today then big trade comes tomorrow, but def gonna be there today if starts showing weakness. Shorted some NKLA [15kshares] anticipating 1min orls. Halted down, wanted to add more. Straight down, covered tiny maybe I should add more, no I’m not gonna add randomly. Down 30% from highs, covering more [40% covered], gonna keep 60% incase it wants to go 60/55 tomos. Fat fingered covering all shares and went long then reshorted a dollar higher, lucky. Gave us another short opp, 70 break on the downside, was too quick I didn’t get it. Covering more in 60, never get fullsize on these, have 1/3 left. Mid/high 70s [vwap] would be a nice add area. So what I’m looking for now is the first red 5min candle on this bounce as a potential add spot. This is why you wait for technical setups and not just short randomly bc you think it has bounced too much. Big bounce so far, 45/50%. Took starter on break of 1min candle [10kshares], will add on break of 5min. Building lhs on 5min chart, added some more [13kshares]. Covering some here into this flush obviously. So far holding vwap, maybe an add later on if it has a tight setup, 75area, but not now.
  • NKLA I paid 23k for locates, most I’ve ever paid. Sometimes you gotta pay to play, when you see an opportunity this big. You just have to recognise opportunity and if you have to pay to trade it, that’s what you’ve got to do. Trading is all about conviction, absolutely true.
  • Airlines, idk what they’re gonna do, they could go up they could go down. Ideal scenario they bounce back, test r/g then maybe i’ll stalk for a setup. That’s why it’s so hard when you have these short setups that gap down, bc they can go straight up or straight down. So orls, I am gonna short some, most of these stocks they could go down 20% to get to the rising 10day, which I think will be the first support for them, but again they don’t have to go down, they could very easily bounce rest of day. That would be ideal scenario, if they just go straight up out of the gate, don’t even give us a orls entry on the short side, just straight up and test the r/g.
  • NCLH and BA shorted 1min orls. Now bouncing, this is exactly what I was afraid of, they gave us a short entry orls then now they’re all bouncing and prob gonna stop us out, this is why I hate gap downs on these things. BA used too much size, took a nice fat loss on it. Just like that I lost 100k out of the gate on NCLH and BA, boom. Reshorted rangebreak downside. BA reshorted 6kshares.
  • SHOP is actually gapping higher, did cover up a bit yesterday before close bc not breaking down. It’s actually showing rs, gonna set a stop for half I have left, I don’t like to be short stocks that show rs, it’s a big nono. Big big nono.
  • This is the reason 99% of people don’t make it in trading, this frustration. Making money is easy, it’s the frustration you get daily. This is the reason most people don’t make it, they just can’t handle it.
  • AMD bought 30kshares, it’s a little bit of a slower name but really tight r/r setup. 3 1/2-4* setup. Beast, already up a dollar on it. Ideal entry was around 54.
  • These Megacaps are strong, all breaking out from bull flags. I don’t think we’re gonna get a major pullback in the indices, until those things do. As long as there’s setups like these, it’s very hard to believe in a pullback in the markets.
  • WKHS, they’re trying to pump this thing. Long 50kshares on breaking out, anticipating the vol coming in. If they can double this pos SOLO, why can’t WKHS go to $5-6. It’s actually a legitimate company too, even Trump tweeted about it. There’s just endless speculation money, once they stop pushing one sector, they go on to another sector.
  • If something has huge range that’s a bit different, I might move my stops more aggressively, but generally I don’t move my stops the first day, sometimes I don’t move my stops for several weeks.
  • I only withdraw money when I have to buy something. My biggest % year was 2014 I made 646%. 2011 was a losing year, 2012 was a losing year, 2013 was my first winning year 252% pretty much in the last 6 months, was b/e first 6. Made 646% in 2014, 107% 2015, 217% 2016, 414% 2017, 89% 2018, only 52% 2019, already up 150% this year and not even half way.
  • I don’t think there was one thing, I think there were many things. I mastered a few setups that I knew worked, then I kept doing more of what worked, and less of what didn’t work. After a while, your money starts compounding. Making 100% on 50k is not the same thing as making 100% on 5M. Now that my accounts are pretty damn big, I can have a 30% return and I’ll make several million. It kinda gets easier after a while.


  • If I buy a private island, I’m not gonna stream, I’m sorry guys. If I get rich enough to buy a private island I will cut all communication with losers, I’m sorry. It’s how it is.

#shorting #masterclass

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