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Mark D.

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Mark D. last won the day on September 12 2019

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  1. Thank you Vikram! I am doing well but not making any money. Still trying though
  2. Thursday September 12th, 2019 Sleep: 7 hours. Mood: good, ready to trade first trade was in $BHGE trying to catch a 5min ORBD early. (3/4). got in on the new 2min low risking the HOTD after closing below the VWAP on the 2min chart. it ended up pressing back up through the MAs and all the way to my stop. happy with this trade though I wasn't thrilled with the rejection of the LOPM in the first five minutes, i waited for an entry and sized appropriately. GOOD: got out at my stop, good setup, short below VWAP at VWAP, had all MAs above RFI: could have waited for the break of the 5min body MOOD: good CONSISTENT: yes last trade was a wedge trade to the long side of $BHGE (3/4). the stock was really strong getting through all the MAs and breaking the HOTD. waited for the HOTD break and a pullback to get in. i didn't wait long enough on the pullback but i think the entry was ok. profit target was 22.08 (3R) i was hoping for pop over the $22 level. it missed me by a penny and then made a 2min doji and i bailed at 2R out of fear. No need to though, it was so strong. Look at these huge orders after i got out. these are divided by 100: that's $3M in buying at 10:12. i'm torn on my exit because it rejected over $22 really quick but i was still seeing a ton of green on the T&S. my nerves ended up winning over and i got all out at 2R. it got close but never went back to my entry as of the time of writing this. GOOD: good trade, made it to my profit target RFI: spooked out of a 3R trade MOOD: feels good to have a trade so as planned. it's been a while CONSISTENT: no, should have held to my plan What i did good today: took good setup trades with reasons for entering What i did bad today: gave up an R on a profitable trade. What can i do better tomorrow: hold my winners
  3. Wednesday September 11th, 2019 Sleep: 7 hours. Mood: good, ready to trade. Missed the really nice ABCD in MU earlier in the day because i was not at my computer. i was watching it right after 10 for a drop below VWAP, then a pullback that i could take to the short side. every new 5min low was being bought back up and it was moving sideways between two MAs on the 2min chart. i was watching it thinking there's no trend or setup here so i should just wait for a trend and then it made a new 2min high on volume (not great) with the time and sales all green and like a moth to the flame i jumped in on the long side no setup (0.4). got sold the high of that candle and then i got out right above my stop. guess i could have held for a bounce to get out more favorably but i respected my stop. GOOD: got out at stop RFI: no setup or trend MOOD: ok CONSISTENT: no setup. last trade of the day was a MA trend trade in ZS (3/4). ZS was trending down nicely. i see this move a lot when a stock will rally on decent volume to the 20 MA on the 5min then head lower. i waited for the new 5min low on the doji and got in short. i set a range order because i had to leave my desk so i would have got out a little earlier than i did but it was stilla -1R trade. i'm happy with this trade, the only thing that gave me pause was that descending triangle breaking the LOTD got bought back up. but i'd still give this setup a B+ happy with the trade. GOOD: setup, R/R, stop loss level RFI: watch all your trades or don't take them MOOD: good CONSISTENT: yes What i did good today: took one setup that i was confident in What i did bad today: jumped in on MU without a clear trend or setup What can i do better tomorrow: My goal for trading tomorrow is to only trade my setups. if i take two trades and they're both setups and they don't work i'll still be happy that i was able to take trades that i'm proud of regardless of outcome. i'm not sure what happened in my thinking that started me down this road of taking trades based on flimsy ideas but it has been tearing me up on my P&L last two or three weeks. thankfully i have small risk and i stick to my stops religiously so the actual money lost is inconsequential. What bothers me is that i'm still having elementary issues like not trading setups but i know it's all part of the learning process and it takes time. hope everyone had a green day!
  4. Tuesday September 10th, 2019 Sleep: 7.5 hours. Mood: good ready to trade. First trade was a wedge on CTRP (2/4). as soon as i got in, i realized i chase it and then i got out before my stop. also didn't have a profit target that made sense. GOOD: got out before stop RFI: chased the entry MOOD: ok CONSISTENT: yes it held all those levels and looked like it was going higher so i got in long again. realized i made the same mistake and got out around my stop (0/4). GOOD: got out RFI: don't take the same trade again unless it gives a clear signal MOOD: angry for taking the same trade again. CONSISTENT: got out at stop i was pretty frustrated with myself, looking at pretty much 2R loss 10 minutes in to the trading day, wishing i was in SIM and not live. looked down at my trade log and noticed i was in sim! forgot i switched my montage over to sim yesterday. it became clear that this was turning in to a descending wedge in CTRP (3/4) so i got in on the short side risking a new 2min high. bought 75% at about 2R, which was a mistake, i meant to buy 25%. then another piece at 3R, one bad buy seconds before another down move. got all out at the moving averages on the daily. GOOD: setup, R/R, risk level RFI: selling MOOD: good CONSISTENT: yes. What i did good today: took a nice short when i saw the long wasn't working What i did bad today: still FOMO trying breakouts that aren't working What can i do better tomorrow: take better setups.
  5. Monday September 9th, 2019 Sleep: 6:45. Mood, tired but ready to trade. feeling calm this morning Overall market is up again, SPY is over last weeks highs, up about half a percent. Gappers list: $MU, $ROKU, $PAYS, $ACAD, $T, $NTNX first trade was an ABCD in $MU (4/4). liked the trade but i keep trying to go long right before 10 o'clock and these trades just turn around on me consistently. i feel like i'm going crazy taking the same long trade over VWAP just for it to come back and stop me out. GOOD: everything about the trade technically was good, entry was good, reward was HOTD, got in on a pullback after a bullish 2mins. RFI: trying to go long right at 10 o'clock when it's time for them to head lower. MOOD: tired of getting stopped out. CONSISTENT: yep, saw the trade wasn't working and bailed early next trade was in $T (0/4). so what i wanted to to was get in right where i would have got in if i was paying attention. i did that but then i realized it lost the MAs and i held for almost a full R loss. also realized it's not a setup so no points (0/4) GOOD: waited for the entry i wanted RFI: not a setup. could have bailed earlier MOOD: ok CONSISTENT: yes. tried the same long trade in $MU after a big run up to the HOTD. i wanted to go short near the high because i thought it was an overreaction but i chickened out. got in on a pullback after a new 2min high on volume that also didn't work. i set a range order because i had to get up from my desk and I got stopped out immediately. GOOD: waited for the pullback RFI: another dumb long trade that didn't work MOOD: frustrated CONSISTENT: yes last trade was a frustration short trade in $MU. as soon as i put it on i realized i was just doing it out of revenge and i sized too big so i got out half and then when it wouldn't make a new 5min low i bailed the rest for a breakeven GOOD: realized i made a mistake and got out RFI: shouldn't take revenge trades. MOOD: angry at myself for taking emotional trades CONSISTENT: yes got out as planned What i did good today: managed trades to 1R or less. What i did bad today: took no setup trades, or bad setup trades 0/4 trades went as planned What can i do better tomorrow: need better more reliable setups. So i really don't want to go back to SIM but i feel like i have to. i'm just taking the same ABCDs that don't work and then just throwing my other trades away out of frustration and it's pretty much the same story every day for the last two weeks or so. I'm doing a great job managing trades, much better than i've ever done but the problem i'm having now is that basically none of my trades make it to the profit target before my stop so my plan is to go to SIM and work on my setups and i need to have two weeks in a row where i have 3R trades that work more than 34% of the time. Until then, it makes no sense trading real money if i don't have an edge to exploit.
  6. Week 36 Recap Took some poor trades Tuesday and Wednesday that killed my week. Only had one trade that went to my intended profit target for the whole week. Thursday and Friday entries were much better, proud of those entries. The main issue, in my opinion is just not waiting for the best setups even on trades with good entries and at worst just FOMO jumping on trades that have already risen a ton on the day (ROKU Tuesday, MU Wednesday). Couple those bad trades with an order mistake costing a whole R and that leads to a -2.5R week. I was focused on profits and not setups or getting in on pullbacks Tue and Wed and my results reflect this. Last week my focus was on smaller stop losses. While that is still important, I think my focus also needs to be on better setups that actually hit my intended profit targets. I can’t be profitable with only 8% of my trades hitting my 3R profit targets. Every week I review my trades and every week I can point to one or two trades where I was not at my best and think if only, I didn’t do such and such I would have had a better week. This is an ever-present reminder that it’s never the markets that are wrong or choppy or whatever reason I give for losing money and it is always 100% my efforts that either make or lose my money. Reminds me of a quote from Trading in the Zone (I think) that says your daily P&L is how you viewed yourself as a trader that day. · Weekly stats o 22/48 46% grade on trades out of 4 (Goal: above 80%) [Previous Week: 83%] o 1/12 8% trades hitting PT without hitting stop first (Goal: 33%) [Previous Week: N/A%] o 6/12 50% Non-optimal Entries (Goal: 0%) [Previous Week: 50%] o 0/12% Letting Losers Run (Goal: 0%) [Previous Week: 0%] o 4/12 33% No Setup (Goal: 0%) [Previous Week: 17%] o 3/12 25% true win percentage (Goal 45%) [Previous Week: 17%] · Highlights o Great entries on Thursday and Friday. o Great job limiting losses on most trades towards the end of the week o Didn’t think I would like knowing about why the stocks are gapping (because of bias) but I’m seeing that it is valuable because it gives more context to the price action so I’m going to keep doing that. · Ongoing things to work on o Have to find more reliable setups that actually hit my intended profit target. o Working on incorporating research into the gappers time in my morning routine o Don’t enter on the 2min breaks, enter on the pullback to the MAs on the next candle o Great entry + small stop loss = easier price targets = more 3R trades.
  7. Andrew is crazy good at reading price action so i'm sure that's a lot of it also he's more of a scalper so $0.35 cents for him is a nice move. i thought about getting out some at the 5min MA but it was too close with my R/R so i just let it ride. Just happy i got out before it really dumped.
  8. Friday September 7th, 2019 Sleep: 7.5 hours. Mood: good ready to trade. have family in town so i really didn't have a lot of time to concentrate on my trades today. i wasn't planning on taking any but i saw some opportunities and i though, why not. First trade of the day was an ABCD on $DOCU (3/4). Docu was gapping up on earnings. missed the ORBU but then i saw it was making an ABCD on the 5min. got in on a pullback to the MAs. didn't like the rejection of the MA on the 5min and i got out before a new 5min low at break even. GOOD: setup, R/R, trade management RFI: maybe skip the trade because of the MA resistance. MOOD: glad i was quick enough to get out CONSISTENT: yes. Last two trades were in $TNAV. $TNAV gapped up after yesterday's collapse from news GM was partnering with Google. the first trade was a bull flag on a 2min chart. waited for the new 2min high on volume and the pullback to the MAs. cold not break though the daily level of $6.03 so i got out at breakeven or small win. (3/4) GOOD: good setup, entry. RFI: wasn't in love with this trade. MOOD: good CONSISTENT: yes should have got back on after the new low but i didn't and i pretty much took the same trade again with the same result. liked it better the second time and i'm happy with the entry just wasn't the right time again. GOOD: good setup, entry. RFI: had i got in lower, it would have been a decent trade. MOOD: good CONSISTENT: yes
  9. Hi Glenn, be careful with those ORBs after that inverted hammer. I used to take those ORBDs like the one on DOCU right after that 2min inverted hammer until Vikram pointed out its actually a reversal signal. Thor took the opposite side of that trade today because of the hammer.
  10. Taking two trades at the same time successfully is really tough, excellent work!
  11. Thursday September 5th, 2019 Sleep: 7.5 hours. Mood: better than yesterday. i was feeling crappy about my six losses in a row this week and my struggle with waiting for pullbacks. I had a chance to watch the Bellafiore interview and it was a good reminder that i am still really new to trading and that i have a long way to go. it did a really good job of putting my progress in perspective. Also i need to do a better job understanding the overall market and the catalysts in the stocks i'm trading. SPY is up breaking the 284 - 294 range it's been in for the month of August. watch list today was $CIEN, $SIG, $LYFT, $WORK, and $HOME. $SIG had an earnings beat and raised guidance with the stock up over 20% pre-market and has a short interest of 26%. my plan was to take it long if the setup was there. So the first trade i did in $SIG did an ORBU (3/4). i took it long on a pullback to VWAP after a 2min engulfing and closing above VWAP. it did break the pre-market high but just couldn't go higher and i got out before my stop on the break of VWAP. i'm overall really pleased with this trade, i waited for a pullback to support to get in. had a stop loss that was a level though probably too far and i got out when i saw it wasn't working. GOOD: i like everything about this trade. RFI: could have decreased my risk MOOD: good CONSISTENT: yes. i tried to take $SIG long again on a wedge trade (2/4) on the 5min chart. got in before the break that never happened. had several chances to get out early that i didn't take and when i got out at my stop, it blew through so hard i lost 10 cents on slippage. yikes. grading myself a +1 for a setup that i trade even though it wasn't the best wedge and +1 for my stop loss level was at a new 5min low. +0 for trade management and the HOPM not being 2R from my entry. GOOD: got out of the trade RFI: could have bailed earlier, not a great setup, too early on the entry, have to wait for the breaks then get in MOOD: not too pleased with this trade CONSISTENT: yes, i can't help the slippage, i got out at my stop. $HOME gapped down on mixed earnings and guidance but i felt that it wasn't that terrible of news so i was also long biased. saw that is was making a pretty nice ABCD (3/4) so i got in on a pullback to the moving averages after it starting making new 2min highs on volume. really happy with this trade. i did botch the selling a little bit. i don't mind the first sell because that was over 2R and it wasn't really moving, i don't like the second sell because it was out of fear and not price action, had i just waited a minute longer i could have sold at my price target. this should probably be a (4/4) but i'm going to leave it. GOOD: setup, entry, R;R RFI: selling could have been better MOOD: happy CONSISTENT: yes. What i did good today: finally got a winner! much better entries today, excluding the second $SIG trade What i did bad today: second $SIG trade could have been skipped all together What can i do better tomorrow: keep trading setups and waiting for good entries.
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