Monday 3/25/2019
I had a well-being score of 5/10 this morning. My nerves were really bad this morning, heart was pounding on both trades. I made it worse because I was a little rushed this morning with a late gappers list so unable to do breathing exercises before open. This was the third weekend without preparation for the week. This should be the last weekend like this. Will definitely be working hard to make up for it next weekend.
APPL was setting up as a possible scalp so I was watching it at open. A whole minute went buy with no scalping opportunities. Then on the second minute it was setting up, though the target was 30 cents away which is a bit of a stretch for AAPL, but since the stock was moving so much today I gave it a try. So I went long when it broke the 20MA with a target of the 50MA. It didn’t make it, though close. I did take a partial at the high but it reversed so fast I only got a dime out of it. I did plan on taking a 50% partial not the full. Then it stalled and I got out. I did get my 10 cents. 10 to 20 cents is a normal scalp for AAPL.
Next trade was a 2min ORB on AMD. My instinct was to take the trade when it crossed the 26.38 tech level, but the 5min 200MA was there to reduce my R/R <2. So I waited patiently for the price to cleanly break it. The candle was still below the <0.5*ATR criteria. I waited for a clean break of the 200MA then went long.
Checklist:
I usually take a large first partial on 2min ORBs, but I was more confident on this trade than usual, so my first two partials were small. Then AMD was setting up for a mini ABCD for the 5min ORB so I waited. Then I heard Andrew taking the trade. There were no good TLs to take partials on except the $27 level. So I tried to take partials on the 1min candle highs. I missed the last one since I was waiting to see if it would break $27. It didn’t and I got out when it showed weakness.
What I did good today: Was more patient at the open.
How did I challenge myself today? Traded through my nerves and took smaller partials
What I did bad today: Aimed to high on an AAPL scalp.
What can I do better tomorrow: Really need to work on my nerves. Will try and do some prep work tonight.