Hey Guys,
I bought DKNG right at the opening bell this morning and the price took off. If you look back at my trades, the huge majority don't explode like that. But every once in a while one does. I grabbed DKNG off the watch list and before the market opened I set up a "buy limit" order at the Potential Entry Price from the watch list. Because the prevailing price was so much lower than my limit price, I got filled at a much lower price. DKNG is volatile right now, so we'll have to wait to find out whether it keeps going up or reverses course.
I haven't closed any positions yet today. I have a couple reaching their time limit tomorrow (NXPI and TD), so I'll close those positions first thing if they don't hit a profit target or stoploss today.
My portfolio today is a mixed bag. NUE, TD, and RCL aren't very happy right now. But NXPI is up nicely, even after the dividend. Other positions are scuffling near breakeven. It's actually a pretty normal situation. Although in the last few weeks I had many days where nearly all my positions were green, I would say it's probably more typical that at any given time there is a mixture of winning trades and losing trades open in my account. So I'm not bothered by my portfolio's unrealized profit situation. It's certainly not great, but it's not abnormal.
One thing I want to point out is that for my open MES futures trade, I bought the September contract (MESU21). The June contract (MESM21) was still available at the time I entered the trade, but it was about to expire so I bought the next expiration. If you bought the June contract, then keep in mind that the contract will expire at the end of this week. My open futures trade times out on Thursday anyway, so if you plan to follow the trade you can just close out the June contract on Thursday when the trade ends. If you plan to hold it longer, or want to be extra cautious, you could roll over from the June contract to the September contract before then. If you want to get a better understanding of the basics about my futures trades, you can click here.