The Super Terrific Happy Hour

Well this is my best day in a long time so its tough to bitch, but at the end of the day, i ABSOLUTELY had the price action on IRBT nailed, in my head i thought there would be a dollar or 3 short s queeze into the close cause its SSR and also cause support was at 80 on the daily,

"Who in their right mind would not be covering into that move on IRBT at 80?


The problem was that i was only trying to start small in an attempt to not ruin a good day, but then i got double filled, and when i thought i was out i got filled on another long order i had forgotten about for like 4 times the size, which i ended up puking at the DEAD BOTTOM, only to see IRBT make exactly the late day move i knew was coming.

There was no way it was going clean through 80, not that late in the day, and not while its on SSR....... look at the daily......

So my thought process was 80 had to hold, unfortunately i got double filled then triple filled, etc etc........ i was sloppy i left orders out, so instead of making money being long IRBT into the end of the day i basically puked the bottom......... There is no excuse for this, i finished up about 2800 best day in a long time, but i should not have fucked this trade up this badly.

Im really mad at myself, cause i knew the squeeze was coming off of 80 at the end of the day, i called it perfectly and lost money instead of making a ton.

Anyways thats the story of the hardships of my life, im sure there is lots of people out there who did far worse, but it pisses me off to ruin a perfect trade due to sloppy execution.

I was anticipating the bounce off 80, i thought it would close near 83 to be honest, but i bet it touches 85 at some point tomorrow. Not much i can say i totally screwed this one up even though i had the exact right idea.



IRBT.PNG
 
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K ive been asked this question a couple times.

"What do you mean when you say a stock wont go "Clean" through a level."

What i mean by that is that i dont think a stock will explode through the top or bottom of the range, without putting in some kind of a bounce first.

This is one of the core principles of my trading, im always trying to determine, if a stock will explode "Clean" (unscathed) through a level or whether it will bounce there and hold for a bit before it makes up its mind, which gives you an opportunity to buy or sell.

Most of the time my trading is geared around the thought process, of "What can i get away with"

So when i say i dont think a stock will go clean through a number...... i really have no idea if it will explode there, but im just betting against the stock going through that number without a single bounce.

90% of the time stocks bounce atleast once on support and resistance numbers, it is very rare that it goes clean through those levels without there being a bounce or any kind of fight.

So when i say a stock wont go "Clean" through a number, im just betting on the fact that there will be some kind of a bounce at a support/resistance number before it goes through it.

Hope that makes sense, if not your on your own sorry. :D
 
Can someone tell me if this makes sense afterwords cause for some reason i keep getting this same question, its annoying when someone asks me a question about terminology......

If you look at IRPT today it was a big overextended chart going right into support after the second day, so when i say its not going "Clean" through 80 what i mean is its not just going to cruise through that number without atleast chopping around for a bit.

Sorry, not taking anymore questions on this, if you dont get it now, its on you.....

Is there anyone on here who trades who DOESNT know what i mean by that statement? Its getting annoying when i get asked this over and over.

IRPT i didnt think it was going to go through 80 before it bounced and chopped around for a bit, I.E. i didnt think it would explode through that number, I.E. i didnt think it would go "clean" through that number.

Im all for helping people, but having to constantly define basic terminology becomes really annoying.

Pretty sure more people have now asked me what i mean by "Clean" then have asked me how to trade....... :D

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Sorry guys havent placed a trade since Thursday was looking at KEYW this morning on SSR noticed it at 6.55 but i didnt take it so of course now its going to blow through 7 bucks, no trades last 3 days for me so far, this market is garbage.
 
mt2rules said:
I just picked up some of the UVXY Sep 29'17 19 Puts for .09, Mid is already at .12. This thing got destroyed today.
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Doubled my position at .06 to my max size. Dirt cheap right here in my opinion with .5 M1 still over Spot and the market not giving a care about what is going on in the world. We'll see what happens.
 
mt2rules said:
Doubled my position at .06 to my max size. Dirt cheap right here in my opinion with .5 M1 still over Spot and the market not giving a care about what is going on in the world. We'll see what happens.
More...

Normally i dont short UVXY at new lows but it Could be real good if this republican plan on healthcare gets pushed through.

Still nothing for me guys, im holding on too some FCX though from last week which was a swing trade from last week, nice day on that thing today.
 
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Max E. said:
Normally i dont short UVXY at new lows but it Could be real good if this republican plan on healthcare gets pushed through.

Still nothing for me guys, im holding on too some FCX though from last week which was a swing trade from last week, nice day on that thing today.
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I'll stay short as long as Contango remains this high and nothing changes in the term structure. With huge moves like yesterday usually the vol drag and commish of the UVXY forces it lower. They have to pay the full spread on every contract they buy or sell.
 
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