Mark D.
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Content Count
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Joined
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49
Posts posted by Mark D.
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great job not getting chopped up. a black day is always better than a red!
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1 hour ago, Mike B said:Great risk management on $BX. I was watching $BX too but the price action was to crazy for my tolerance level to get in.
thanks Mike! I was tempted to short it after that but it was too crazy.
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Thursday April 18th, 2019
Sleep: 7 hours. Mood: good, ready to trade.
First trade of the day was BX. i got in right at the break higher, sold half when it stalled out and the rest when it made a new 1min low at my breakeven. glad i got out becuase it dropped hard!
GOOD: entry, R/R and trade management
RFI: could have held longer and sold more when i had the chance
MOOD: great, really happy with how I handled that trade.
CONSISTENT: yes.
The last trades i hulked out a little bit. I noticed in the pre-market that if CRON came down to the PPDH that would potentially be a good place to take a long position. I noticed it did exactly what i thought it would at 9:46. i waited for it to come back to the 16.40 level but i got impatient and decided i would take half size and put my stop at the level i wanted my entry. it came all the way down to it and i got stopped out. then i tried the same trade again, with the stock making new 5min lows below VWAP, i didn't get much better entry the second time either and then held past my $10 stop. then i gave it one last try right at where i wanted my original entry giving it to the LOTD, again it crossed my stop loss and i held for another big loss.
GOOD: stopped trading.
RFI: amateur trading forcing my opinion to be right when it was clearly wrong.
MOOD: not that bad, i'm working on positive acceptance of my mistakes.
CONSISTENT: big no!
Another max loss day. and i broke my rule of only two losses allowed after a max loss day. i'm going back in to sim for the remainder of the month. I'm breaking my rules, letting losers run, and forcing my trades and i hit my max monthly loss so it's back to sim to try and work on my emotional control before stepping back in to real trading.
What i did good today: Great trade management in BX.
What i did bad today: CRON trades were about as bad as they could be
What can i do better tomorrow: need to focus on trading with the trend and focus getting out of trades that aren't working
Other comments for tomorrow: Back to SIM until i'm making better trades.
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hi Rob,
great job holding on to your trades! i've noticed the last week or two you've been giving your trades some room to run
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nice $QCOM shorts!
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59 minutes ago, Brandon K said:You managed your losses well. I was SUPER long biased on QCOM and actually got a great move out of it after the first 5 minutes on a pullback. Then, I kept trying to catch a move to the upside again and got burned twice. A bias will definitely have you overthinking and second guessing yourself. Also, you'd throw strategies out to then overtrade.
thank you, glad one of your long trades worked!
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1 hour ago, Rob C said:Hi Mark, that was a really good first trade. I actually have a post-it note on my station saying, "if it spikes IN your direction, get out, it will reverse." Which sadly I can't remember ever following. Though I sure remember a few trades I was upset at myself for not following that rule. It's a tough rule to obey.
Thanks Rob! that spike threw me for a loop. i know what you mean about following rules in a trade, much easier said than done!
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Wednesday April 17th, 2019
Sleep: 7.5 hours. Mood: good, ready to trade.
First trade of the day was in QCOM. i was very long biased on QCOM because i've tried shorting strong stocks in the past and i've been burned bad so i try and keep with the daily trend. the problem is this bias is bad too. QCOM ran up great in the first five minutes. i thought about shorting but it seemeed like a bad idea to risk it so i waited for a long oppurtunity. it sold off to $79.50 then came back up to VWAP. i was hoping to catch it going higher, risking the previous 5min low to one of the levels i had marked on the daily chart. it did and algo jump at 9:54 that i did not like and once it made a new 5min low i bailed for a small loss. glad i did it hit my stop.
GOOD: waited for the 5min trend to not make a new 5min low.
RFI: pretty happy with this trade. the only thing is i was banking on a V reversal that doesn't happen very often.
MOOD: good, glad i handled that as well as i did.
CONSISTENT: yes.
After that good trade, i turned around and took some greedy trades with bad stop losses in QCOM. i was hoping for a pop over VWAP but i put my stop loss way too close and got stopped out. that was ok, i respected my stop.
GOOD: respected stop.
RFI: greed, no setup, stop too close.
MOOD: ok
CONSISTENT: yes, i respected my stop.
Then i took the same trade again as i was convinced it was going to pop. it did but it didn't quite get to my profit target so i held. then i got no follow through and held past my stop. Glad i hit max stop loss because i am very frustrated about my trading choices today.
GOOD: got out before the auto stop
RFI: no setup, greed, held past stop loss.
MOOD: frustrated.
CONSISTENT: no.
What i did good today: took a good trade in QCOM to start the day
What i did bad today: let my long bias and greed get out of control. hit max loss.
What can i do better tomorrow: no bias on the trade, just look for good setups. Respect your stops.
Other comments for tomorrow: two losses only tomorrow per my rules. i'm going to have to go back to using range orders with my profit/stop loss because I'm making a habit of letting my losers run again.
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18 hours ago, Brandon K said:Interesting first trade on $ROKU Mark. While you went short, I was going long and riding the squeeze along with everyone else that covered. Then, when you were going long the second time, I was selling shares and should've been holding like you. Great discipline on your entries and stop out points.
thanks Brandon! good call going long under the VWAP and catching the squeeze. i thought after it broke the 200 MA on the 1min it would be good to go lower but it wasn't meant to be.
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Tuesday April 16th, 2019
Sleep: 8 hours. Mood: good, ready to trade.
First trade of the day was a sort of double top off VWAP in ROKU. i got in short below the 200 MA on the 1min chart setting my stop loss to the PDH. I was hoping it would keep going lower on the break of the LOTD but it came back up i hesitated on getting out and it ended up costing me a little more than my $10 risk.
GOOD: i think the premise of the trade with the support was good, good R/R.
RFI: looking at it after the fact i chased my entry.
MOOD: fine
CONSISTENT: yes but barely, should have got out right when it hit my stop.
Next trade was in ROKU again. I felt comfortable going long again over the $58 dollar mark. added more on a new 5min high over VWAP. sold half just shy of my initial profit target. then half again on another break in an ABCD pattern. held the rest for just under $59 then moved that down to $58.90 after it stalled out. i should have got out earlier but i held on for the breakeven.
GOOD: added more when the trade was going in my favor. scaled out above 2R.
RFI: held too much too long, need to do the first 75% above 2R and then half the remaining at the next level then only save 12.5% for the last bit or just get all out. i'm getting killed in commissions.
MOOD: glad to have a winner, wish i would have made more.
CONSISTENT: yes.
Not a bad first day back from a couple day break. I need to change something about my trading because if i have one loser (at stop loss) and one winner (at profit target), then i should be +1R on the day. instead i was 0.2R positive and negative with commissions. i need to at the very least ALWAYS get out of losers at -1R and be patient enough with my winners until they're at 2R then get out almost all at or above that level. i'm not going to be net profitable until i can do those things.
What i did good today: Kept a level head and made a good trade in ROKU after getting stopped out.
What i did bad today: Not being flexible enough in my profit expectations. should have exited my final shares well before getting stopped out at B/E. also still hesitating to cut my losers.
What can i do better tomorrow: Cut losers at determined stop loss. no exceptions. keep working on scaling out on winners.
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Week 15 Recap
Started off the week not by taking some bonehead trades. Wednesday was ok and Thursday was good. Hopefully i'll be able to trade Monday but it's not looking good as of today.
· Weekly stats
o 1.7 R/R (Goal: above 2.0) [Previous Week: 2.3]
o 23/40 58% (Goal: above 80%) [Previous Week: 88%]
o -$23.10 (Goal: $250) [Previous Week: -$55.67]
o 7/10 70% trades with the trend (Goal: 100%) [Previous Week: 40%]
o 1/10 10% Early Entries (Goal: 0%) [Previous Week: 30%]
o 1/10 10% Letting Losers Run (Goal: 0%) [Previous Week: 0%]
o 2/10 20% No Setup (Goal: 0%) [Previous Week: 20%]
· Highlights
o Made some good trades this week. MU on Tuesday and WTW on Thursday
o Entries were better this week and most trades were with the trend
· Ongoing things to work on
o Let losers run on me and got auto-stopped. First time maybe 3 weeks.
o Don’t watch the chatroom while trading.
o Continuing the practice of thinking like a trader and in probabilities
o Still selling too early on winners
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Friday April 12th, 2019
No trades today.
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Thursday April 11th, 2019
Sleep: 7.5 hours. Mood: good, ready to trade.
Only took one trade today, an engulfing crack on WTW. i waited for a pullback to the VWAP to get in risking the 19.01 level to the LOTD. I was so volatile in that minute and i got a bad fill. The risk was too far away to begin with but i was trying to risk 20 cents and ended up risking 30 cents messed up my R/R pretty bad. Selling was good and according to my plan. if i'm nitpicking, i should have wait to sell my first half until it broke lower.
GOOD: good plan
RFI: sold too early
MOOD: more comfortable in the trade than earlier in the week.
CONSISTENT: yes.
What i did good today: took only good trades.
What i did bad today: selling too early
What can i do better tomorrow: sell less earlier
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Wednesday April 10th, 2019
Sleep: 7 hours. Mood: good, ready to trade.
I missed the first 45 minutes of the trading day so I was just watching for signs of a reversal. i noticed that DAL made a hammer of the PDC and some other previous lows. i waited for a new 1min high and then i waited for a pullback. i got in 20 shares thinking it was going to touch the PDC line again so i could add more but it never did. I risked the break of the PDC and the PPDL to the VWAP. it hit my profit target but my range order didn't get filled. i hesitated hoping it would try to break it again but then the volume started dying and it was strating to get choppy. it made two new 5min lows in a row and i got out at b/e (with commissions). I got out at the low and it turned around and went right past my profit target.
GOOD: great entry and R:R, good waiting for a setup
RFI: overthinking and not taking profit at VWAP and talking yourself out of a trade when it wasn't at your stop.
MOOD: ok
CONSISTENT: no, i deviated from my plan by not taking profits.
What i did good today: Waited for a good entry on a double bottom.
What i did bad today: didn't take profit at the profit target. got spooked out at a low.
What can i do better tomorrow: take some profits close to your target, it doesn't have to exactly hit it.
Other comments for tomorrow: Keep working on getting good entries in the right direction. profit taking is second to that.
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Tuesday April 4th, 2019
Sleep: 8 hours. Mood: so-so but ready to trade.
First trade of the day was an ORBD in MU. i waited for a pullback and got in short at around the VWAP. this was too soon as it had a little more to go higher. i held it past my stop which is the worse thing to do. pretty ashamed that i held it past my stop and what's even worse is it came back down to my profit target. i felt that with the PPDL and the MA and the premarket levels it was going to come back down at least to my entry so i wasn't too worried about it but that's not the point. sold half too early and the rest at or past my profit target.
GOOD: didn't chase the entry.
RFI: too soon on the entry though and held past stop.
MOOD: ok
CONSISTENT: no, held past stop.
Next trade was in CERN. i don't normally keep the chat in an open window because I've learned that i am biased to Andrews trades or the callouts in the chat but i kept it open today and i saw andrew went long in CERN right under the VWAP so i took the trade too risking a new 10min low. i'm really disappointed in this trade. first off i should have been short biased because it was below the VWAP and trending lower on the 5min chart. then worst of all, i held again past my stop and this time i paid for it with an autostop at 1.8R. turning my green day red. lessoned re-learned, i can't be trusted to watch the chat room and trade at the same time.
GOOD: waited for a pullback after a green 1min candle to get in
RFI: everything else, not taking the trend, not respecting stops, no setup
MOOD: disappointed in myself
CONSISTENT: no.
What did i do good today: Waited for a pullback in MU before going short
What i did bad today: taking trades with no setups, holding past my stops. taking trades from the chatroom
What can i do better tomorrow: It's crucial not to hold past your intended stops. i'll work on making sure i don't do this the rest of the week. can't watch the chatroom and trade, it is too biasing to me.
Other comments for tomorrow: It's unlikely i'll be able to trade tomorrow anyway which might not be a bad thing, i'm getting beat up in the markets right now. I haven't had a trade go to my profit target without first hitting my stop in a week and a half. sometimes i feel like i'm finally getting the hang of this and some days, like today, i feel like I haven't learned anything. Need to regroup and come back and focus on taking good trades.
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Monday April 8th, 2019
Sleep: 7.5 hours. Mood: ok, ready to trade.
First trade was a MA trend trade in BA. it did an engulfing crack and i waited for a good entry but i ended up chasing it after a selloff on the 1min chart. should have waited about 30 more seconds. not a terrible entry though. unfortunately, it turned out to not be a trending stock so i got stopped out when it spiked above VWAP. not a full R loss but pretty close, glad i got out.
GOOD: waited for a pullback to go short.
RFI: chased the entry a little bit
MOOD: not happy with getting stopped out so many times in a row
CONSISTENT: yes i respected my stop level.
Last trade of the day was worse. i was hoping MU was going to break over $43 so i took 100 shares. this was a bonehead move, it stalled at the 200 MA on the 15min chart and then couldn't close above the 200 MA on the 5min chart and didn't make a new 5min high so i have no idea why i got in on the long side. another trade where i'm not thinking critically about the price action and just taking a position hoping it goes my way. Per my rules, only one trade allowed a day until i get a 2R winner. if i get stopped out on my trade tomorrow, i'll go back to SIM until i get a 2R winner. no sense in losing money if i can't get in tune with the markets.
GOOD: got out at stop loss
RFI: no setup, PA didn't call for a long.
MOOD: ok, I got what i deserved on that one.
CONSISTENT: yes, bad plan to begin with but i'm still respecting my stops.
What i did good today: Respected my stop loss level and got out of my trades.
What i did bad today: The trade in MU was really bad.
What can i do better tomorrow: Have to start picking better trades. I need to wait for signals then find a good entry.
Other comments for tomorrow: Per my rules only one trade allowed until a trade that hits my profit target.
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Week 14 Recap
I was pretty down on myself Friday and though i traded much worse than last week, it wasn't too terrible. i started trying to take V reversals again which is a big no-no for me so i'll be making sure to look out for that next week. Also, only 40% of my trades were in the direction of the trend so it's no surprise i was red this week. all in all, not my best and not nearly as good as last week but it's all about slow, steady, small progress.
· Weekly stats
o 2.3 R/R (Goal: above 2.0) [Previous Week: 2.2]
o 35/40 88% (Goal: above 80%) [Previous Week: 87%]
o -$55.67 (Goal: $250) [Previous Week: $42.36]
o 4/10 40% trades with the trend (Goal: 100%) [Previous Week: 92%]!!!!!!
o 3/10 30% Early Entries (Goal: 0%) [Previous Week: 15%]
o 0/10 0% Letting Losers Run (Goal: 0%) [Previous Week:0%]
o 2/10 20% No Setup (Goal: 0%) [Previous Week: 0%]
· Highlights
o Didn’t let any losers run past my intended stop.
o Good trade in MU holding on a pullback.
· Ongoing things to work on
o Started Taking V reversals again. Need to stop doing the immediately. Be patient for an entry or let it pass.
o Way too many trades in the wrong direction. Need to trade with the 5min trend.
o Get out on ORBs quick if they’re not working. You can always get back in.
o Took two awful risk/reward trades in MU on Thursday, shows I’m looking at my R/R before the trade.
o Get out before a full R if the idea of the trade changes.
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Friday April 5th, 2019
Sleep: 7.5 hours, Mood: good, much better than yesterday, ready to trade.
First trade of the day was an ORBD in SNAP. i thought it would break down to the PDC with the levels and MAs above, that was wrong. i should have got out earlier than i did but i held on for a full R loss.
GOOD: not a bad setup.
RFI: should have bailed earlier
MOOD: not happy about it.
CONSISTENT: yes, got out at planned loss.
Next, i tried to take a double bottom in AMD twice, chased my entry on the first one and got out for a 0.5R loss when I realized i got in too early. tried the trade again with a little better price but i should have bailed on a new 5min low, instead i held for a full R loss.
GOOD: some what of a setup, it did work the second time, it just didn't follow through.
RFI: too early, FOMO chasing entries.
MOOD: frustrated with my trading.
CONSISTENT: yes, got out at planned stop.
Finally saw it was a short and i got in on a pullback after a big selloff. i put my stop loss way too far and only got 50 shares so i got out when it wasn't going any lower.
GOOD: realized i was wrong to try and force a long and saw a good short
RFI: stop was way too far so i had to get all the way to the PDL for this to be a good trade which is too far
MOOD: ok
CONSISTENT: yes, i got out when it wasn't going lower.
Last trade of the day was the worse one. i decided AMD was a long now but i only had a couple minutes before a meeting so i chased an entry and had to put my range way too far. i was right, but again, too far on my risk/reward for the trade to make sense for it's range and by the time i got back to my computer, it had already broke VWAP and came back down. should have got out at b/e but i held it for a little over a 05.R loss.
GOOD: got out of the trade.
RFI: don't take trades with 1 minute of thought and not be able to watch the price action.
MOOD: frustrated.
CONSISTENT: yes i got out on the price action.
What i did good today: not much. didn't totally blow up today.
What i did bad today: FOMO trades, chasing entries, stubborn losses. amateur trading yesterday and today.
What can i do better tomorrow: I'm counting this as a max loss day even though it's under the dollar amount. so only two losses on Monday before stopping. i'm considering instituting a rule where if my first trade is a loser then just quit for the day. i' haven't looked at the data but i'm willing to bet if my first trade is a full R loss, the rest of day only gets worse. need to do more research on this first.
Other comments for tomorrow: I lose two days of trading traveling and i'm back to making the same beginner mistakes i was making in January.
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April 4th, 2019
Sleep: 6.5 hours. Mood: tired.
I was not really feeling it this morning, i didn't get enough sleep and I didn't see any trades i loved. i liked a short in SQ when it got close to the VWAP but i talked myself out of it. it would have been a good trade. Instead i took two long positions in MU, i don't know why i did that. on the first one it was trending down on the 5min so no idea why i decided to go long. the second one did make a new 5min high but that was it, the second one was a little bit better but i should have known it was probably going to go up a little bit before going lower. the whole chart was rolling over and it really didn't any strength so I have no idea why i thought this was a long, twice. not happy with my trading today, need to get more sleep and come back tomorrow refreshed.
GOOD: got out at my stops. Quit before hitting max loss.
RFI: no setups, bad entries. bad trading today. embarrassing trading this morning.
MOOD: tired and pissed
CONSISTENT: yes, respected my stops.
What i did good today: Got out at my planned stops and quit after two losses
What i did bad today: taking trades without setups, against the trend. revenge trading, not waiting for a good entry with good R/R.
What can i do better tomorrow: sleep more, don't trade if you don't feel like it. take trades that make sense to your R/R with the trend.
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On 3/30/2019 at 5:31 PM, Rob C said:Live trading summary of the month of March.
I have not gone hulk in two months!! I have not hit my daily max loss in 2 months!! I also never looked at my unrealized gain for the whole month of March.
In March I read Mastering Trading Stress by Ari Kiev
Great job on not hulking out and not hitting max loss for two months!
Do you recommend that book?
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18 hours ago, Rob C said:Great sticking to your stop loss on MU. I am sure my nerves would have taken control and I would have bailed around 10:30am.
Thanks Rob, i've bailed on so many trades before my stop only to see them hit my profit target that i know there's a good chance i'll regret it later if i bail so i just hang on. if my nerves get too bad i'll put in a range order and look away from DAS for a little while.
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Wednesday April 3rd, 2019
Sleep: 7.5 hours. Mood: good, happy to be back at the trading desk!!
Not happy about missing the ORBs today. had someone come talk to me right at 9:33 so i had to look away for a couple minutes. First trade was a double top/ 5min engulfing in AMD. knew it was a risky trade but i got a good entry and i figured if it broke through 29 i could get out with only an $8 loss. actually popped quicker than i expected and got stopped out for $12. i'm happy with the trade, the only things i would change are a limit order at $29.01 and i should have waited for a red candle, i went short on some big volume towards the HOTD, which is a sign it was going to punch through. i saw it and chose to ignore it.
GOOD: small risk, accepted the loss
RFI: i should not have ignored the volume cue on new 1min highs. I made the same mistake last week in NVDA of not putting in a limit order to get me out on a big pop through the HOTD.
MOOD: fine, i knew it was a risky trade.
CONSISTENT: yes, i got out a little past my 1R but just because it happened so fast.
Last trade of the day was in MU. it made a hammer below the WVAP then punched through on the next 5 minutes. i got in long right at the moving averages on the 5min chart. it was having trouble breaking through $44.50 but i held on to the trade, risking $44.21 to $44.73. i put in a range order because i had to walk away from my desk and when i got back and saw it was stuck at around $44.70 i just got all out at 1.9R.
GOOD: got out at almost 2R, stuck with the trade.
RFI: don't take V reversals.
MOOD: good, made a good profit on this trade even though it didn't end up hitting my profit target.
CONSISTENT: yes.
What i did good today: only took good trades.
What i did bad today: probably should not have shorted AMD with it being so strong.
What can i do better tomorrow: always pay attention to volume.
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1 minute ago, Rob C said:Wow! Great week Mark.
Thanks Rob!!
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Week 13 Recap
· Weekly stats
o 2.2 R/R (Goal: above 2.0) [Previous Week: 2.0]
o 45/52 87% (Goal: above 80%) [Previous Week: 92%]
o $42.36 (Goal: $250) [Previous Week: $32.16]
o 12/13 92% trades with the trend (Goal: 100%) [Previous Week: 92%]
o 2/13 15% Early Entries (Goal: 0%) [Previous Week: 8%]
o 0/13 0% Letting Losers Run (Goal: 0%) [Previous Week: 8%]
o 0/13 0% No Setup (Goal: 0%) [Previous Week: 0%]
· Highlights
o Happy to have a green week to start my live trading.
o Win rate was crazy high, I’m really starting to nail my entries
o Respected stop loss on all trades.
· Ongoing things to work on
o Taking too small of a profit on my winners. Need to work on not scaling out until at least 2R.
o Still making hot key errors.
Rob C's Trading Journal - starting Feb 1 2019
in Day Trading Journals
Posted
you're definitely forming skills. For one, your no emotional reaction to getting stopped out is a huge mental skill!