heavymetaltrading

[heavymetaltrading]

Buying the Dip

1. Parabolic Daily chart. Don’t buy the breakout. Terrible risk reward.

2. Buy the dip at support levels with strong parabolic daily chart.

3. Draw support levels from the daily chart.

4. Look for high short interest - https://shortsqueeze.com. Look for 50% short interest to squeeze.

5. Wait for the setup to come to you.

[heavymetaltrading]

Swing trading breakouts overnight

Shay mentions a potential strategy for trading small accounts with PDT rule. Look at the daily candle minus wicks, on strong volume breaking out over previous highs into the close.

When closing above previous resistance on volume, good time to buy and hold overnight.

Also note that green days had higher volume than the red days.

Here’s the stock screener she recommends to keep stocks on watch:

https://finviz.com/screener.ashx?v=211&f=cap_small,exch_nasd,sh_avgvol_u500,sh_curvol_o500,sh_price_u20,sh_relvol_o1&ta=0

We also need a fundamental catalyst. Any positive news that could increase the company’s earnings short term. Sector hype too.

If everything matches up, enter the trade around 3-4pm near the close.

[heavymetaltrading]

Tips from The Humbled Trader

https://www.youtube.com/watch?v=qL7Z7XQ6tPA

1. Don’t chase high of the day breakouts

2. Don’t add to a losing position

3. Have a trade thesis with entries, exits, and risk/reward - at least 1:3

4. Stay away from penny stocks - harder to predict than mid-caps. Easier to gain consistency trading mid-cap and large-caps.

5. Analyze the stock’s news like your account depends on it.

6. Step away when you feel emotional. Need to stay detached from the money.

7. Avoid trading the market open (first 10-15 minutes). It’s a hot mess out of the gates.

8. Be realistic about your profits. Take the meat of the move.

9. Do not aim for home runs. Take base hits.

10. Prioritize risk management.

[heavymetaltrading]

$WINT - 2021-06-04

Another undisciplined trade, where I didn’t have anything going on with my planned trades, so I did another scan and tried to buy the intraday breakout. I didn’t wait for the head and shoulders pattern to emerge and watched this low float selloff tank my position. I took a very small position, but this was a bad play.

Symbol: WINT WINDTREE THERAPEUTICS INC Qty: 100 Open: 06/04/21 Cost: 320.81 Close: 06/04/21 Proceeds: 296.99 Gain$: -23.82 Gain%: -7.42

[heavymetaltrading]

$SKYE - 2021-06-02

What are the odds. I had to get a winner in there eventually. I bought the breakout and it felt good being validated, but this was still a bad play with no real plan. Buying breakouts is probably not the strategy for me.

Symbol: SKYE SKYE BIOSCIENCE INC Qty: 1,500 Open: 06/02/21 Cost: 282.91 Close: 06/02/21 Proceeds: 316.76 Gain$: 33.85 Gain%: 11.96

[heavymetaltrading]

$ONTX - 2021-05-18 - 2021-05-19

Can’t remember this one all that well, but I think it was another one off a scan that I bought into the hype and sold at the morning panic. Dip buying that morning panic would have been far more productive. A few days later they did a 1:15 reverse split. Garbage stock.

Symbol: ONTX ONCONOVA THERAPEUTICS INC Qty: 100 Open: 05/18/21 Cost: 91.12 Close: 05/19/21 Proceeds: 83.97 Gain$: -7.15 Gain%: -7.85

[heavymetaltrading]

$HITID - 2021-05-19 - 2021-05-20

Bought more at the dips, but it was mostly revenge buying after fucking up my $FRMA trade so badly. This at least averaged my position down to below $8.00.

[heavymetaltrading]

$FRMA - 2021-05-20

My worst trade to date. Bought the hype off a scan and rode it down to the dip and sold near the bottom. No excuse for this, it was just bad gambling with no discipline or plan.

Symbol: FRMA FIRMA HOLDINGS CORP Qty: 2,500 Open: 05/20/21 Cost: 355.81 Close: 05/20/21 Proceeds: 179.14 Gain$: -176.67 Gain%: -49.65

[heavymetaltrading]

 $PTE - Polaryte Inc - 2021-05-10 - 2021-05-11

Couldn’t have fucked this one up much worse. Bought near the highs, and then added to my position when it started to correct, and then held overnight where it started to panic sell premarket, and so I sold into that near the bottom, as it immediately started to bounce up and I could have been out for a wash.

Symbol: PTE POLARITYTE INC Qty: 1,300 Open: --- Cost: 1,607.10 Close: --- Proceeds: 1,364.96 Gain$: -242.14 Gain%: -15.07

[heavymetaltrading]

$HITIF - High Tide Inc. - 2021-05-05 - Current

After the frustrating round trip losses I had been seeing, I stumbled into this message board darling, High Tide. The company has sound fundamentals and was scheduled to list on the NASDAQ, which seemed like a no brainer long to me. I had bad entry points though, seeming to always buy at the top of dips. I told myself I wouldn’t worry since I am looking for long term gains on this one. The company has gone through two more tickers since then and has since uplisted to NASDAQ under $HITI. I bought more under the intermediate ticker, $HITIF (which came after they did a 1:15 reverse split to meet the uplisting criteria).

[heavymetaltrading]

$SNGX - Solegenix - 2021-04-26 - 2021-05-05

Had a good intraday gain on 4/26 from my buy at 1.52, but it couldn’t hold its gains. It began a gradual downtrend. I added to my position on 5/4, but when it didn’t do anything the next day, I cut my losses. Good thing too, because there was an eventual selloff and gap down.

Symbol: SNGX SOLIGENIX INC Qty: 800 Open: --- Cost: 1,183.92 Close: --- Proceeds: 1,095.97 Gain$: -87.95 Gain%: -7.43

[heavymetaltrading]

$SEEL - Seelos Therapeutics - 2021-03-12 - 2021-05-07

I went long on this stock after the breakout over previous highs and analyst BUY ratings with price targets of like $18 or something ridiculous. Loved watching it keep me in the green over the next few weeks, and was shooting for a PT of around $8. it peaked at $6.60 and gradually tanked after the earnings call. I added to my position at $5.85 thinking it would continue its undulating climb upward, but it only declined and when it started to get close to the key level of $5.00. I don’t think I really paid attention to the earnings catalyst. I eked out a tiny profit, but overall it was a wash. A guy on Stocktwits called me an idiot, but at least I got to see his position decimated in the coming weeks. Getting out when wrong was a good choice here. Better would have been to take the 15% profits when I had the chances instead of swinging for the fences.

Symbol: SEEL SEELOS THERAPEUTICS INC Qty: 400 Open: --- Cost: 1,982.55 Close: --- Proceeds: 2,019.00 Gain$: 36.45 Gain%: 1.84

[heavymetaltrading]

$NLSP - NLS Pharmaceuticals - 2021-03-12

FOMO took over again and I jumped in on this off of a scan. Tried to ride the momentum but sold RIGHT into the panic. Instead, I should have bought the panic dip. This was a text book bad trade and someone somewhere profited off of my stupidity.

Symbol: NLSP NLS PHARMACEUTICS LTD Qty: 100 Open: 03/12/21 Cost: 567.00 Close: 03/12/21 Proceeds: 494.18 Gain$: -72.82 Gain%: -12.84

Unrelated: Here’s my VIM parse string for TDA statements:

:%s/\t\(.*\t.*\)\t\(Sell.FIFO\)\?\t\(.*\)\t\(.*\)\t\(.*\)\t\(.*\)\t\(.*\)\t\(.*\)\t\(.*\)\t.*Short/Symbol: \1\rQty: \3\rOpen: \4\rCost: \5\rClose: \6\rProceeds: \7\rGain$: \8\rGain%: \9\r\r/  

[heavymetaltrading]

$CMPS - Compass Pathways

Buy - $40.65 - 2021-03-11

My first stock buy in over 7 years. I have been out of the game so long, I wasn’t sure where to begin, so I bought a mushroom stock. It had strong analyst buy ratings and a 52 week price target of $60. As of now I am still long here, but currently down 18%. Not a good entry, and reminds me that I’m not really much of an “investor” type. I will continue to bag hold this one because I do believe in the product, but it’s a frustrating one none the less.

[heavymetaltrading]

About

This is just a blog to track my trades and try to learn from my successes and (more likely) failures.