Friday, I over traded a bit today, because of that I am sure my commissions will eat nearly all my profits. 3.4R day, but when R=$10, too many tickets makes it a BE day instead. I'm ok with that because I still think I traded well today. My patience is improving, and I am seeing more indicators before jumping into a trade now, Aiman's recaps have really helped me look at a few more charts for confirmation before entering. I bet there were 4-5 times today that I stopped myself from entering by looking at the overall trend of the stock, and checking 5,15,day charts for resistance levels that are not on the 1min.
I was long biased on AMD pre-market, that caused me to take these three longs. I'm ok with the second trade, but the 1st and 3rd trade in this pic should not have been taken.
Great 5minOrb-1minABCD Combo
2 shorts and a long, the first trade I failed to look at the 5 for confirmation, I was only looking at the 1min break below moving averages. shorted again immediately, revenge trade. Later tried BO over a daily level I had, it failed, the BO was actually several candles earlier when it broke my prior level of 109.07.
I probably should not have entered below VWAP like that.
Tried BO, didn't continue.
Curling down, broke my pre-market level and tested it, spy direction helped for confirmation.
My pre-market notes said to look for break of 24, as I was scanning my watch list looking for a trade, I noticed MRVL had just broke VWAP, test it, and start to head to 24. It went well
5MIn lightning bolt down with retest of VWAP.
JPM and MU trade, I think I may be moving my stop too close to the price, they both ran down much further after my last partial. What I usually do is move my stop to just above the 20EMA on the 1-min, if I would instead move it to the 9EMA on the 5, maybe I could stay in these trend trades longer.
What do you think?