Tuesday 01/21/2020
I had a well-being score of 7.5/10 this morning.
I took 3 live trades this morning both with MS, TSLA and JD.
My watchlist: MS, TCOM, AAL, JD, TSLA and TAL.
I tried my first ever rising devil trade on MS this morning and was stopped out. I have never tried it before so I went half shares. MS gapped down and was heading into the open weak. It popped at the open and I planned to split my shares into two. I would short at the $56 mark and again at the 56.18 tech level. My stop would be at a PM level at 56.36. I stopped out a little early. The good news is I lost exactly the planned -0.5R. So at least the risk management was well executed for my first try at this setup.
TSLA was showing its usual strength. I missed the 1min ORB but at 3 minutes it was breaking a daily level (3 days ago close). So I went long at the break. Stop was tight at 537. I took a partial at 1R and set my stop at B/E where it immediately was reached and I was stopped out for a small profit.
JD was showing strength but not very good volume. So I went half shares on a 5min ORB. I entered a little early when the price broke the 39.40 level. Shortly after a huge bullish L2 signal appeared on the ask so I added the rest of my shares to my position. My stop was the all the way to VWAP with a $40 target.
L2 when I added shares:
I tried to take partial profits at the top of each 1min candle. My second partial was taken because I was giving up on the trade, but the price popped higher as soon as I took the partial.
What did I do good today? Tried my first rising devil trade and maintained good risk management.
What I am grateful from today? A profitable JD trade making my day well into the green.
What I should improve on: Keep practicing the rising devils.