164 [How to lose 1.5 million by accident… Jul 29, 2020]

  • DXCM had a great great report, and it has a great great chart, it’s been pretty much going sideways for the past 2 months or so, while it’s been building hls, I really like this chart, and obv the report and guidance and everything is pretty damn good. Bought half size orhs [4500shares], looks like it’s starting to breakout a bit, but has almost no volume, $6 spread, no interest on it on the earnings. Stopped out, okay, looked good and now it’s not looking so good. DXCM had a huge washout, then again built another hl, this is bullish price action, they’re not going straight up but they’re just building their bases, they’re improving their bases.
  • DT gapping down, they reported too also great report and also great chart, it’s just surfing the 50day, bit slower of a mover, but could be interesting if it starts breaking higher. So look at what DT did, it faded, undercut the 50day, now it’s back in range and it built another hl, this is bullish action. I think DT could be a great setup in the coming sessions especially if it can tighten up a little bit in this range, so far this is bullish action even though the stock is down, it’s building a base, building a very nice looking base.
  • TSLA went short when it broke this range late day yesterday, but it kinda held the lower end of the range. I started seeing a bit of weakness in a lot of names and also in the markets late day, I never like late day weakness, so I went short a little bit [1/4]. Gonna use hods as stop. I see some rw in TSLA compared to QQQs overall, QQQs pretty much at hods almost challenging yesterday’s highs, TSLA is way off highs and way off yesterday’s highs, something to keep an eye on, it can’t rally with the QQQs, obviously that can change at any moment, I’m always looking for these types of clues.
  • KODK am watching for a short, have 50kshares located (half or third size), but not super excited, will see how it acts, even though it is up like 700% in two sessions, that’s a big move. Straight up, thing wants 20. Shorted 50kshares, halted down now gapping down a little. Another leg lower, gonna cover tiny (18s). Trying to find another add spot. KODK halted up, now wish I’d covered more. Still strong, stopped out hod and halted up again. We haven’t had something like this for a while, I was supposed to take a 60k loss but my stop didn’t work so I had to manually cover it higher, took and 87k loss but if I hadn’t I would be down 500k rn, this is why you take your losses guys, you don’t think, you don’t start second guessing, you just take it and move on, that’s exactly the reason. It’s a kodak moment. This is even bigger than the move they had a couple of years ago back in 2018, I remember I shorted this move here, went up 300% in two days, this thing went from a legit company, AAPL of their day, to a piece of sh*t penny stock, releasing a kodak coin, getting govt loans, getting into pharmaceutical ingredient making, wtf, imagine if AAPL or GOOGL or AMZN gets like this in like 20years, just completely gets out innovated and falls from grace, it could happen, it’s probably gonna happen to some stock that’s a household name today, guaranteed, which one though?
  • Oh sh*t I f*cked up rn, I did the fattest finger trade of my trading career rn, you’re not gonna believe this sh*t, unbelievable. I double clicked in the wrong place, let’s just say I’m short 85kshares in this halt, I’m down 350k on it. As soon as it unhalts I’m gonna cover it, unless it gaps down. It’s not a big deal, 500k is not a big deal to me nowadays, I’ve had bigger losses than that, but a fat finger, I can’t believe this sh*t. If I sacrifice a goat rn will it open down, will this be the top, is it possible, I need to get a goat though, where can I get a goat in the next one minute? 33.15 is my avg, I wasn’t even gonna short it, I wanted to wait for the first red 1min candle right, so I was ready to short it incase it starts getting some downward momo, but I accidentally double shorted it, I wasn’t even gonna short it right there. Okay it’s going down from this candle, I’m not covering yet, nvm I’m out, I’m out, oh I didn’t get filled it halted up again, now I’m down almost a million on it, unbelievable, I need to instantly cover it when it unhalts, I hesitated because initially they pushed it lower, I thought maybe it’s gonna dip now. Funny thing is it feels like this is gonna be the last halt, then it’s gonna go lower, this thing is a double in the past 30mins, why can’t this thing pullback a little. There’s no way I’m gonna avg up on this, that’s how you blow up, I’m just gonna take my loss like a man and then take the rest of the day off. When something like this happens, the best thing to do is just ignore the same stock, just ignore it, bc I’ve done it before in my trading career, where you start to make it on the same stock, it never ends well. I’m not gonna look at the chart this time around, I’m just gonna look at the level 2, bc the chart is lagging. Okay I’m all covered, biggest loss of my career, no matter how long you’ve been trading, or how experienced you are, there’s always gonna be these wtf moments, and this is just one of them, wow. If I had just been quicker to press the cover button first time it got unhalted, I would have saved myself over 1M. I’ve never been stuck in a halt like this on the wrong side, and it’s even worse bc it’s a fat finger. I was gonna be prepared for the first red 1min candle, I even made a video about this setup, you’re gonna see it, it’s gonna put in the first red 1min candle, then it’s gonna go straight down to 30, with a bunch of halts along the way. 1.467M. Now I’m sitting here thinking should I short it if I see a good setup. Up 1700% now. Not gonna revenge trade it. One thing I accidentally shorted it that was bad luck, not only did I short it, I double clicked the short button, so now I’m short twice as many shares as I would have been on a normal fat finger, and then it just keeps halting and halting and I can’t get out. Never experienced anything like this, and that’s the thing with trading, you gotta be prepared for literally anything to happen, every year something crazy happens to you in trading. Now it’s trading in the 29s, why couldn’t it open down the halt where I covered, I covered 50.48 avg, yeah I could have covered in the 59s that would have sucked. Yeah If I had just covered a bit quicker, in this halt, I’d have lost about 300k, I’d have made it back on the next trade, now it’s gonna take me 2/3 good trades to make it back, assuming no losing trades in between which I will back. But thing is making back a 10% drawdown is very easy usually if the market is good.
  • Look after a big loss, you just have to forget it, it was just totally unrelated, it wasn’t like I took a trade that went sour, I wasn’t even supposed to make the trade, I black swanned myself, on a black swan. Well at least I have a new big loss, but you know what happens, every time I take a big loss, my trading goes to the next level, bc if you take a big loss, and you make it back or most of it back, you know that, okay I took a big loss, I survived, then you can take you trading to the next level. If you’re gonna scale your trading up right, if you’re gonna take your trading from 10k positions to 100k positions to multimillion dollar positions, you’re always gonna take new record losses, that’s how you scale your trading, both record gains and record losses, you gotta get used to it, it’s gonna happen to me many many many times over in my trading career.
  • BA, it keeps building lhs and it just can’t rally, if it keeps breaking down from this area, has to be a good short right. Did a 10kshare starter, may do more later, did another 15kshares, now having some follow through to the downside.
  • LRN, that’s a htf, low 48s that’s a perfect entry on the 60min.
  • BE, going to see how it acts if it can reclaim or if it’s going to close below the 20day. Okay need to size down, bc it’s about to confirm the previous candle. Sized down a little on break of 60min candle, but will see how it closes, could still reverse and close in the high 14s, that would be a very good thing. Not selling all of it, still have about 40% initial shares, still need to see buyers step in.
  • NVAX, looks good on the 60min, unless it starts showing some backside there is absolutely no short here, it’s just picking tops and picking tops doesn’t work. It could fade a bit find support on the rising 10/20emas and then go higher, I’d prefer to see the 10/20emas start to act as resistance, then I would be looking for a short, rn it’s kinda just randomly picking the top.


  • If I sacrifice a goat rn will it open down, will this be the top, is it possible, I need to get a goat though, where can I get a goat in the next one minute?


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