2 Day Evaluation

Daytrading continues to be challenging to put up a good sized green day. I'm still in it even with pretty bad risk management even though I'm trying. I can get a couple good trades in but end up giving it back with just average setups or tickers I know are tougher. From what I have had infront of me there are usually only 1 or 2 GREAT setups in a whole day. It really hasn't been worth it to trade anything other than those. I had some big losers on TSLA puts. The daytrades that come the easiest for me are shorting overbought spikes intraday.

My options and positon holding account does way better than the daytrading at this time. I'm doing more in that account now. I just put on a ton of shorts and puts. I've been longing USO calls every week and doing well with those. My strategy for crude oil that works is just being in the trend. If it is in a daily uptrend I buy calls, downtrend buy puts. I just took a put because I can afford to try and catch overbought here. Shorting multi-day spikers or Supernova's as popularized by Tim Sykes is a crowded strategy now in my opinion or atleast crowded enought to prevent easy low risk trades that can be held overnight or awhile without risk of squeeze or chop. I am not the fastest with entering orders with daytrading and it takes skill as when these movers are in play they move up and down 2,3,4 or more percent in split seconds. I always prefer market orders because I never want to miss a great trade but it can be costly with intraday movers. I focused more today on getting a lot of these 52 week low type stocks on and ones off bear flags near lows. I went small size with wide stops and plan on trying this stratedy multi day as long as the market keeps downtrending. I just pick ones with steady downtrending charts and consistent red to red candles. My theory is short seller manipulation looks like long side manipulation just in reverse. Usually these ones are lower market cap and less than $10. Like XPEV or NEOG is right now.

Selection was better today but still another red day. I was busy just putting on a lot of shorts and puts in the am. missed the Weed stocks shorts at open because I got started late. CGC was a short sellers dream today.