Monday February 25th, 2019
Sleep: 7.5 hours. Mood: good, ready early and ready to trade.
First trade was an ORBU on AMD. got a great entry risking the high of the pre market to the break of HOTD and above. i sold half at the high of the day then another half at close to the $24.50 mark then held the last 25% for break even. had i got out at a new 5min low, I would have made a little bit more on the trade.
GOOD: entry was good, R/R was good
RFI: shouldn't have held my first sell untill the break of HOTD not at it.
MOOD: happy
CONSISTENT: yes.
Next trade was an engulfing in AMD. I was hoping for a breakout to the HOTD again but it ended up double topping and dropped significantly. glad i got out.
GOOD: got out when it didn't make the move i expected
RFI: engulfing is not one of the setups i'm working on right now so i shouldn't have taken that trade. that was a little bit of a revenge trade on just getting stopped out of my AMD shares the trade before
MOOD: glad i got out of the way when i did
CONSISTENT: yes
Last trade of the day was a MA trend in MU. once i realized AMD might just chop around all day i noticed MU was trending nicely. i got in on a pullback, i could have got a better entry but I didn't want to miss it. i set a range order and walked away. it hit my exact target but i didn't get filled. i almost bailed after that but every time i bail on a trade just because i don't like it and it hasn't hit my stop, it usually ends up at my profit target. so i moved my range up to $42.95 and left it again and that one got filled.
GOOD: didn't overreact when i didn't get filled at my profit target. stuck with it and made a good trade.
RFI: need to watch the market even if i have range orders in
MOOD: happy that the trade ended up working
CONSISTENT: yes.
What i did good today: Discipline on the trades that i took.
What i did bad today: Took a trade that was not one of my setups.
What can i do better tomorrow: on your ORBS in your favor, give a minute or two to break the HOTD.
Other comments for tomorrow: First time hitting my daily goal in over a month. keep up the good trading tomorrow.