May 12

 Slow day today. Market big dip buy yesterday, charts are so ugly out there. 

I scan ~800 a day, only found 6 im interested in

OTRK RUBY NLS PATH MVIS RBLX

And going into the bell, its not looking like ill get any right from the open so ill be sitting on hands quite a bit today it seems.

Yesterdays problem was risk again. I have a few things ive set up for myself.

1. I have sticky notes in front of me on main monitor 

    -Do market conditions allow me to trade?

2. RISK

    -Where is stop placement + space?

    -What will option prem look like in worst case scenario there?

    -What does that make my starter size?

3. RISK $$$ Plan

    -Depending on Star rating, how much i am willing to risk per trade


I also on my journal have step by step, # of contracts to buy, and risk by the penny I will have to take on each stock.


NLS

Only name strong at open, above prev high and in.

In at .90 in with 3, I missed original starter + add so meeting myself in the middle. Meant to be 2 and 2 so stuck with 3 and waiting on pb.

Risk is .20 cents and accounting for space and worst case.

Market conditions are good, decent pop higher at open so far. 

Market turned, we followed, new LOD, must wait and see.

Collapsing on me. Down 3 R. No pull up at all. 

How can one be so wrong so frequently in so many aspects. Lost 60% of total premium, still no recovery. 

Made 1.3 ATR move against me. 

Small pause, pulling up now. Looking to get out at vwap if im lucky enough. 

Out .45 market turned lower to LOD. NLS no vol on move up. 

Well clearly I underestimated risk again here. 

Where did I get .20cents from? 

Looking last night at option chart, found range, gave it range high and low and a little space. Looked like .20

Didnt account for open. Even if I did, I wouldnt have anticipated it losing an ATR move + to start the day. Part my fault, part wouldve been screwed anyways. 



Doesnt look like anything else in the cards for today. 


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