2026-01-09 · 3 min read
A qualitative run-through of every trade from 2026-01-09: setups, thought process, and outcomes.
Day P&L: $+340.41 | Total R: +0.76R
The morning opened with PAVS making a strong move right out of the gate. I caught a long at 2.92 as it bounced off the VWAP after initially dipping below. The tape showed good buying pressure, and it quickly reclaimed the VWAP, allowing me to exit around 2.99 for a solid gain of $363.43. That felt good—getting in at the right moment and seeing the stock respond positively. It was a classic sub VWAP trap setup, and I executed well.
After that, I turned my attention to MTEN. I took a washout long at 0.27, but it didn’t take long for that trade to go south. I was looking for a strong reversal, but it just didn’t materialize. I cut it for a small loss of $14.50. I took a couple more stabs at MTEN, trying to catch the bounce as it kept fading. My entries at 0.220 and 0.195 were based on similar washout setups, but my timing was off. The stock just continued to bleed lower, and I ended up taking losses of $72.40 and $52.61 on those attempts.
The midday action was tough. I tried to catch another washout long at 0.185, but it just bounced around, leaving me with a measly gain of $50.32. I felt like I was chasing the move too much. The tape was choppy, and I was getting whipsawed. I tried to stay patient, but the market sentiment was clearly shifting against me. When I took a long at NBY, hoping for a quick bounce, I was met with more downward pressure, exiting for a $65.19 loss.
MTEN was still on my radar, and I saw a potential setup at 0.1289. This time, it finally squeezed up, allowing me to exit for a small profit of $93.57. It’s frustrating to go through so many trades and only come out with a few winners, but I reminded myself that sometimes the market just isn’t cooperating.
Looking at the broader picture, the consumer defensive sector showed some strength with PAVS, but most of the action was in consumer cyclical, particularly with MTEN. The low float on these names created volatility, but the volume was erratic, making it difficult to find a consistent trend. It was clear that the market was in a mixed state—some names were moving well, while others were just stuck in a range.
What I did well: I executed my entry on PAVS effectively and recognized when to cut losses quickly on MTEN trades. I also managed to stay in the game without forcing trades after the initial losses.
What I did poorly: I overtraded on MTEN, trying to catch too many washouts without waiting for confirmation. My timing was off, and I didn't respect the tape as much as I should have on those trades.
Trading grade: B. I had some clean entries, especially on PAVS, but I let the frustration of losing trades lead to poor decisions on MTEN.
Tomorrow, I need to focus on being more selective and patient. The market's not always going to give me the setups I'm looking for, and I need to respect that.
Trade charts
Selected notable trades (by P&L) with time-of-day vs price (entry → exit).
PAVS 09:30:11 – 09:30:25 — P&L $+363.43
MTEN 11:29:09 – 11:43:59 — P&L $+147.43
MTEN 12:34:31 – 12:36:38 — P&L $-98.14
MTEN 13:24:59 – 13:28:16 — P&L $+93.57
MTEN 11:55:42 – 11:56:56 — P&L $-72.40
