Trade Journal - HCMLY, Apr 8 (long)
Tracking
Apr 8
+ Went long 20 shares to have exposure to sand for long term thesis
- Again, converted it into a swing trade
- Again, did not enter based on TA
- TP was quickly hit, did not scale out
Jun 10
- Increased position size by 35. This is fine for DCA strategy, and might have been what I did. However, I made the decision to swing it or take profits at some point, which should have been based on price levels and TA.
Nov 14
+ Took profits
- Did not scale out by 50%, but a smaller amount
Dec 19
+ Took profits
+ This happened shortly after it crossed the baseline. It should have happened immediately, but at least we scaled out this time.
- Still a weird amount to scale out by. Follow the system!
Feb 2
+ Trade ongoing, maintaining TP/SL levels
Trades
Apr 8, +20 @ 9.18 (4.95 fee)
Jun 10, +35 @ 9.37 (4.95 fee)
Nov 14, -17 @ 10.33 (4.95 fee)
Dec 19 -18 @ 10.07 (4.95 fee)
Outcome
Ongoing. Trade is poor quality, but shows signs of improvement. We need to stop changing investments into swing trades. Both styles should be following a rigid system. Might be best to do it across two accounts so it's more clear what system each belongs to.
We should try to have fewer transactions per trades since that will help with the fee overhead. Should we factor the fees into the risk of each trade? It is lost balance, after all.
Tracking
Apr 8
+ Went long 20 shares to have exposure to sand for long term thesis
- Again, converted it into a swing trade
- Again, did not enter based on TA
- TP was quickly hit, did not scale out
Jun 10
- Increased position size by 35. This is fine for DCA strategy, and might have been what I did. However, I made the decision to swing it or take profits at some point, which should have been based on price levels and TA.
Nov 14
+ Took profits
- Did not scale out by 50%, but a smaller amount
Dec 19
+ Took profits
+ This happened shortly after it crossed the baseline. It should have happened immediately, but at least we scaled out this time.
- Still a weird amount to scale out by. Follow the system!
Feb 2
+ Trade ongoing, maintaining TP/SL levels
Trades
Apr 8, +20 @ 9.18 (4.95 fee)
Jun 10, +35 @ 9.37 (4.95 fee)
Nov 14, -17 @ 10.33 (4.95 fee)
Dec 19 -18 @ 10.07 (4.95 fee)
Outcome
Ongoing. Trade is poor quality, but shows signs of improvement. We need to stop changing investments into swing trades. Both styles should be following a rigid system. Might be best to do it across two accounts so it's more clear what system each belongs to.
We should try to have fewer transactions per trades since that will help with the fee overhead. Should we factor the fees into the risk of each trade? It is lost balance, after all.
Trade active
Trade closed: stop reached:
SL hit, trade closed, -20 @ 11.83 (4.95 fee).
Net profit: +$81.92
Net profit: +$81.92