Glenn Budde
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Everything posted by Glenn Budde
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12-18-19 AIS 0810, 3.5 hrs, 5.5/10 PAT: No over trading....... FOMO...... Quality of setups.... Notes: Adding a challenge for the upcoming days and beyond to Meditate @ 0915 for 10min to calm myself MU PB#1 .... ORB coming back to VWAP for entry but continued to sell off..... Went a little faster and lost a little more than anticipated..... -1.6R PCG PB#2 / PB#3.... first trade I jumped in a little too early and got out with the momentum and blasting down and hitting my stop...... -1R second trade..... I realized I was long biased and need to stop being biased...... L2 and T&S signals were short..... I took A short and added in when price action confirmed my position.... took partials at .75 to .70 as this was a new support level.... I took most off when it came back close to my BE and added back in when price action was back in my favor....again took partials at the .70 area of support... once it broke support I had .45 as my target and took a partial there.... added back in about 30% on a new trend pattern and took two more partials and all out at the bottom of what looked like a reversal to me as the L2 was exhausted... (it ended up trending to the long side) +3.6R Cons: Took a biased trade without signals on PCG and MU Pros: Regained focus and traded without bias and managed it..... Playbook Trade: -PCG Notes: Even though I did Meditate this morning I was supper tired and in need of rest..... Rs: +1R
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12-17-19 AIS 0800, 4 hrs, 6/10 PAT: Overtrading..... Spread..... Trade quality..... No FOMO Notes: After exiting a trade in play keep it on the main screen early in the day..... PCG PB#2 Stopped out both times.... should have stuck with it and took it for a short right after the second stop out... -1.3R CLVS PB#1 10min ORB... not a great L2 signal .... ABCD on the 2min.... I should have had my stop set below VWAP and would have been able to catch the move..... -1R PB#3... FOMO.... too Extended....stop was 11.27 and target was 12.00..... I did manage my trade very well till the end where I added in on a reversal signal.... I had it in my head that I wanted to add in on a pull back and I missed a couple opportunities and again this add was FOMO Cons: Over traded.... FOMO ..... Poor quality trades.... Pros: Leaving and happy with just -1R... Feels good to stick by my stop rules.... Playbook Trade: none Notes: I over traded before 1100 and even though I wrote my notes above I also took poor quality trades and FOMO trades.... I added a bit of exercise right before the open and I did not meditate to calm myself.... Rs: -1R
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12-16-19 AIS 0755, 6.5 hrs, 7/10 PAT: Trade quality..... Spread..... Notes: Stay focused and make sure I take the trades when they setup and not before..... When in a trade make sure I am using the correct hotbuttons..... MU PB#1.1 with confirmation on the ASKs took this for a complete momentum scalp... took two partials and all out at BE..... stop was below VWAP.... +1R Took another quick scalp trade but as soon as I took it I knew I was over trading and I was already at goal for the day so I got out... -.3R PCG PB#1 PB#3..... also making an ABCD... went in for 1/2 size and added on confirmation..... L2 was starting to stack and the T&S was showing strength.... my hard stop was at the bottom of the previous white candle but my mental stop was below the last candle as I was reading the tape...... All partials were taken using L2 as price points..... All out at 10.16..... +2.5R UBER FOMO..... urghh...... -.5R Cons: FOMO on UBER and MU later in the day... Pros: Took trades when they felt and setup right.... Reading the L2 and T&S...... Playbook Trade: PCG and MU Notes: Woke up with good rest and felt good.... was a bit anxious before the open but I did a bit of meditation and read my weekly notes to refocus.... Rs: +2.6R
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Week 12-09 to 12-13-19 What I did Bad this Week: I traded more than 3 times before 1100 twice this week Took a pre 1min on one trade Jumped the gun on one trade Made a Hotbutton mistake 3 time this week What I did Good this Week: Respected all my Rules Feeling good about my pre 5min decisions Doing a better job of getting in on trades when I see them setup Saved money by reading the L2 and T&S and getting out before my stop and before a big dump Changes to be made this upcoming Week: None Rules to stick by this upcoming Week: After I call it a day by either MAX Loss, Profit Target or what I am comfortable with, only use the rest of the day for Chat, Journal, Playbook ect. In-Trade and Daily Stops Only A or better setups Do Not chase or revenge trade Challenges for myself this upcoming Week: No Voice Chat before 1000 Max of 3 trades or 2 loosing trades in a row before 1100 Take a planned break at 1100 for other Bus. Notes: One of the days I slept in and was rushed in the Pre-Market causing me to feel a bit rushed at open On another Day I skipped my workout and meditation and I never felt quite right during the trading day Goals and Rewards: +20R at end of the month to consider trading with more size +12.6R for the week
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So for the last month patterns by themselves do not seem to work on AMD.... Even with LVL2 it is tricky...... Yes the smaller T&S window is 2K and above..... I use this to see if there is a large seller/buyer at the same price for a period of time and if it coincides with the LVL2..... I use CMEG...... try going into LVL2 Configure.... I went up on my Tiers....
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12-13-19 AIS 0843, 6hrs, 6/10, PAT: Spread..... A or better..... Notes: Do not hesitate but also do not jump the gun.... AQST PB#6.... first attempt so I kept my risk very low..... on the third min. it broke above VWAP an as soon as it came back through I had an order sitting at 5.47 as this was on SSR... L2 also started showing some nice BIDs in a ladder...... My stop was tight above VWAP and target was low of day... +1.3R CIEN PB#3.... Trending the 9ema on the 1 and 2min and making a nice ABCD on both, touching the 9ema on the 1min..... in as soon as it made a new 2min high..... stop was below C, the previous two candles on the 2min and ultimate target was a daily level of 44.41,....as soon as it got to the L2 prices at .87 the price action changed..... it chopped for a couple min. and BIDs started showing up giving me a Reason2Exit.... -.6R MU Took two stabs at MU Long and one Reversal...... The first and second I took with a trend above the 9ema and L2 was giving some light signals.... one of the things I have been noticing is that MU will often have some nice L2 signals and when the action approaches them they are pulled.... both were either partialed or stopped early with this information..... the Short was taken on the same L2 but BIDs this time... I was off looking at other tickers when it was at the 51.20 area and I missed some good partials..... the last red green was an all out.... I accidentally hit sell position instead of cover..... +1.6R AMD These two AMD trades were taken as possible trend trades... the first one I was stopped out of the ABCD pattern... the second one I took 1/2 of the first and I added in once I seen that the T&S didnt want to let it go past .45 and the L2 started to pick up.... Took partials and all out at BE..... -.3R Cons: Over traded..... Hit a buy key on mistake Pros: Saved money on following the L2 and T&S getting out early on the changes..... Playbook Trade: AQST Notes: Slept in today and was a bit rushed in the premarket.... Rs: + 2R
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I am looking for blocks of 80 or more and in a ladder to a much bigger move....... I felt like it was gonna blow through .80 with the T&S printing .79 on the ASKs and once it breaks .80 there was a ladder to 40.00..... and on the BID side there are a few orders over 100 at .70 but no type of ladder to get to them..... As it approaches 40.00 the ASKs keep stacking below it and the BIDs are disappearing.... I was feeling like I need a partial here because the next large ASK was at .05 so it could slow up..... Once it got past 40.00 it pulled back as expected, made a nice ABCD and gave me a signal to increase size...... I took another Partail just above 40.00 with a little slow down of action but it soon came back..... Once it got past .05 the ASKs stacked back up in 5 cent or less ladder all the way to .35 and beyond..... I got all out once the ASKs were exhausted..... Hope this helps explain my thoughts through the trade.....
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The trade was just under 25min and over 300 MB ..... not sure I can send it to you..... but Ill try to upload it ..... It is silent but I was using my mouse to show what I was looking at..... The first entry was a little late and I did not have an ABCD pattern like I did on the second entry..... I should not have let it scare me out and the second entry should have been an add on.... but Ill keep learning..... If I can not get it to upload Ill go back and take some screen shots....
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Live Journal Exercise – Learning to Trade an Edge like a Casino
Glenn Budde replied to Mike B's topic in Day Trading Journals
Yea... I dont usually like to trade stocks over 100 bucks..... -
12-12-19 AIS 0830, 4.5 hrs, 6/10 PAT: Wait 1 min..... Spread..... Notes: Manage trades reading the price action.... NUGT PB#1.1...... 2min ORB.... using LVL2 ASKs as the trade..... I did not record this one but I did the AMD...... Gold was up today putting it in play...... I took this scalp on only LVL2 and T&S price action and it was also bullish on the 2min ORB..... entry at 30.50, Stop loss below prev. candle 30.45 and target was 30.68..... took partials at LVL2 ASKs hit.... and all out when BIDs were coming in and the T&S tapered off +.66R AMD LVL2 Momentum Trade...... I did record this (saved as 12-12-19 AMD LVL2 Momentum)...... The first stab I probably should have waited for that small pull back but I did get right back in.... I also only took 100 shares on this one.... the second attempt was with more confidence and confirmation so I took 200....... My risk was very tight as I was trading off the LVL2 and T&S...... and my targets were staggered with the LVL2 action but my main Target was 40.20...... Partials were taken at all the different LVL2 large ASKs being hit.... I added on with a large ASK at 40.00...... and all out when LVL2 was exhausted and T&S was petering out.... +4R Cons: could have waited for the pull back on AMD... Pros: Took the trades as soon as they presented itself... Playbook Trade: AMD Momentum.... Notes: I will try to continue these momentum trades as this is where I did do well in the past in SIM.... Rs: +4.6R
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12-11-19 AIS 0850, 4 hrs, 7/10 (slept in about 1/2 hour..... Late long night at work..... Im a little anxious..... PAT: Over-trading.... Notes: Allowing for pre 5min trading with smaller size..... Did not leave time for exercise or meditation.... Careful... AEO PB#2...... A setup.... Took this short on the gap down.... it broke up past VWAP then back down below VWAP where I entered.... unfortunately it did go back up stopping me out..... stop below VWAP and target at 14.31 -1R GME 2 trades A setup on both first PB#2...... took it long on the higher green entry and stopped out below VWAP with a target of PM level of 5.68 -2R second PB#2...... came back through VWAP again and this time there were more ASKs stacking.... with a better R/R and same stop and target..... +5R Cons: Jumping in on the pre 1min candle was probably not a good idea.... Pros: Felt good about the pre 5min VWAP momentum trades Playbook Trade: GME Notes: Will entertain a later day setup if it presents itself.... If it is not very clear I will be done..... Rs: +2R
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THX I almost ditched it.... had two losers in a row but when I went back to look in SIM I was right at 60% including the last two losers and the winners were big.....
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12-10-19 AIS 0805, 4 hrs, 5.8/10 PAT: Spread...... A or better..... Notes: Allowing for pre 5min trading with smaller size..... SFIX Without much time again today I traded SFIX very early -1R CLVS VWAP and Trend plays -1R AMD PB#3 very little profit TVIX on the spy dump for an opportunity trade +3R Cons: Over traded today.... Pros: respected all rules... Playbook Trade: none... Notes: Rs: +1R
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12-09-19 AIS 0805, 4 hrs, 6/10 PAT: Spread.... A setups or better.... No chasing or revenge..... Notes: Max of 3 trades or 2 loosing trades in a row before 1100 CGC M CLVS Ill be back.... Time for Anniversary Brunch.. Cons: Pros: Fav. Trade: Notes: Rs: +3
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Week 12-02 to 12-06-19 What I did Bad this week: Took trades after I was up to goal Jumped the gun on 3 trades for the week Took too many partials on 1 trade Did not Flip position when everything was telling me to on 1 trade Over traded on 1 day What I did Good this week: Did not hesitate on all but one setup for the week Realizing that when I am searching for too long that I start to fabricate trades to take Got out early on 2 trades on price action changes and both would have stopped me out for a larger loss Changes to be made the upcoming week: None Rules to stick by this upcoming week: After I call it a day by either MAX Loss, Profit Target or what I am comfortable with, only use the rest of the day for Chat, Journal, Playbook ect. In-Trade and Daily Stops Only A or better setups Do Not chase or revenge trade Challenges for myself this upcoming week: No Voice Chat before 1000 Max of 3 trades or 2 loosing trades in a row before 1100 Take a planned break at 1100 for other Bus. Read the sticky before each trade Goals and Rewards: +20R at end of month to consider trading with more size
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12-06-19 AIS 0755, 5 hrs, 6/10 PAT: Spread..... A setups ...... Notes: Careful after a couple small losses to not over trade, opportunity will present itself....... BIG Reason2Trade..... On Scanners.... RVOL at time of trade 60.0.... Dividend announcement.... PB#2...... A setup.... 1/2 size ..... After review this was a bad setup, maybe a B at best.... did not have an ABCD and the Wick on prev candle was too large.... I stopped out when the as price action was changing on me very early..... My original stop was below VWAP to which I would have been stopped out at 0945 for a larger loss anyway..... I only wish I would have kept this on my watch and reentered at 0948.... -.5R AUPH Reason2Trade.... 2nd day play.... RVOL at time of trade 1.75.... PB#2...... A+ setup.....full size..... Made an ABCD on the 1 and 2min which I jumped the gun on (If I would have stuck to my plan I would not have been in this trade as it never confirmed the ABCD on the 2min)...... stop loss was below VWAP and target was 15.45 PMH...... I stopped early with price action change.... .5R CLVS Reason2Trade.... previous in play .... RVOL at time of trade 4.0 PB#3...... A setup.... 1/2 size..... My entry had a .04 slip and my stop slipped .13 which destroyed my 1/2 size....... Trending the 9ema on the 2min and no new low on 5 or 15min..... no ABCD...... -1R Cons: In on BIG and AUPH without confirmation, Pulling the trigger a little too early... Pros: Got out on BIG and AUPH early with price action.... Fav. Trade: CLVS Notes: CLVS was the only trade I am happy with and I may end the week here.... Rs: -2R
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12-05-19 AIS 0805, 4 hours, 6/10 PAT: Spread..... A or better..... No Chasing..... Notes: No voice from 0930 to 1000..... Max 2 trades before 1100..... Read my stickies and my weekly..... ARDX Reason2Trade.... On Scanners.... FDA Nod for lung cancer drug..... RVOL at time of trade was already 1.1..... Upsized Public Offering PB#1/PB#2...... A setup..... 1/2 size..... 5min ORB with a VWAP play..... with decent ASKs on LVL2...... entry at 7.03 (slipped was supposed to be 7.00), my stop was the bottom of the 2min candle and below VWAP 6.95, target was 7.15 HOD... stopped out again with slip at 6.90.. -.75R ACAD Reason2Trade..... On Scanners..... + phase iii dementia related drug..... RVOL at time of trade was 1.3 1st trade PB#2.... A+ setup... full size.... broke VWAP, 9 and 20ema on the 5min, made a nice ABCD on the 1 and 2min.... LVL2 did not have much going on....... entry 52.70, stop was below the 9 and 20ema and below C on the 1min 51.96, target was just below HOPM 54.49..... took profit at 1R top of white candle but again with slip got abot .6R and stopped at BE..... +.6R 2nd trade PB#3..... A setup..... full size (on accident).... trending the 9 an 20ema on the 2 and 5min.... a pull back and confirmation on entry.... when I tried to stop out I hit Sell Pos. doubling my size and the candle was moving fast so by the time I exited I lost double...... -2R...... Reentered 1/2 size...... breaking the 20ema on the 2min, took partials and all out at BE.... Took my eyes off of it a bit and missed another move..... ugh... +1R -1R Cons: Started to over trade on a small loosing day (just about BE) and with a mistake Im at -1R Pros: Took the trades when I seen my opportunity .... respected my soft stops (just a mistake on 2nd ACAD) and my daily stop..... Fav. Trade: ACAD 1st trade Notes: Make sure after a loosing or BE morning that my trades A+ in the afternoon (New Challenge) ...... Rs: -1R
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12-04-19 AIS 0810, 3.75 hrs, 6/10 PAT: Spread..... A or better...... Notes: no voice between 0930 and 1000...... Evaluate my trade before taking it and pounce on it with full size if A+ EXPE Reason2Trade..... On Scanners... Buy Back.... 1st trade...... PB#2..... A setup.... 1/2 size.... in a clear uptrend in the premarket..... held 105.00 on the tape for a couple min and got in on break of VWAP with a stop just below VWAP and Target of HOD... stopped out... I wanted to flip my pos. but chickened out.... -.5R 2nd trade PB#2.... A setup..... 1/2 size..... 105 was a serious level of support and if it gets past this I believe it will get to HOD of 107.20... the LVL2 was a little biased on that move at the time.... the prints on the T&S were soaring and at break of VWAP I took an entry at 104.93 with a stop just below VWAP and my target of 106.99.... I took partials at 2x , 3x , 4x and in between... along with partials all the way up and am now holding onto 6 shares for BE or just below HOD of 108.98 as my risk in this chop is 5.50 and a target of 24.00.... reevaluating with a new downtrend on the 5 15 and 30min charts Im all out at a new pullback on the 2min to the 9ema... +2R Cons: Should have went with my instinct and took a Flip on the first one..... Maybe a little less partials on the way up.... Pros: Did take both entries on the plan setup.... Fav. Trade: EXPE 2nd Notes: I am done for the day as this has me at a comfortable profit and at my daily target, I do not want to give any back Rs: +1.5
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12-3-19 AIS 0800, 7 hours, 6/10 PAT: A or better..... Pull the trigger and do not chase.... Notes: No voice till 1000, only 2 trades before my 1100 break..... read sticky..... Kept Voice on since Andrew was not on and it gave me just as much anxiety even with Brian and Norm..... I will keep it off for now on till 1000.... LK Reason2Trade On Scanners... Hedgefunds are buying bringing volume.... PB#1..... A setup?..... 1/2 size..... Pull back on 5min ORB with ABCD on 1min.... my R/R was bad at 1:1...... I thought I could maybe listen to Brian and Norm for the open but it gave me just as much anxiety as normal and I took a trade with bad R/R and a setup that after reflection was not an A setup at all..... I feel like I should have got out earlier with the price action changing but I did not want to change my plan -.5R UBER Reason2Trade Pointed out in Chat... RVOL 2.0 ......... PB#3.... A setup.... 1/2 size.... on the 1min it was trending the 20ema, on the 2min trending the 9ema and also made a nice ABCD using between the 9 and 20ema for a stop and a target of 28.98 from prev day.... took a partial when it broke the 200ma on the 2min and more partials on the way with price action changes and all out on new 5min low.... +.5R CLVS Reason2Trade..... On Scanners... 3rd day..... RVOL 2.8 at time of trade.... 42% short float PB#3.... A setup.... 1/2 size.... trendinfg the 9 and 20ema on the 5min.... the 1min 50 and 200ma were coming together in a wedge stop at 14.98, several targets at apx .15, .25, .40, these were all large ASKs ..... all out a BE +.5R Cons: I hesitated on UBER..... Price action changed on LK and I feel like I could have got out with 1/2 the loss..... Pros: Talking about CLVS with other traders and decided it was a good entry after talking about the different time frames and the LVL2..... Stopped trading when I realize that I am just not finding things and I may start fabricating things to trade Fav. Trade: UBER Notes: Stay on track this week.... Rs: +.5R
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12-02-19 AIS 0800, 7 hrs, 7/10 PAT: A or better setups... read sticky.... Notes: No voice chat before 1000..... ASLN Reason2Trade.... On scanners... RVOL was 8.0 at time of trade.... + preliminary results.... PB#2.... a setup... 1/2 size..... moving with volume and breaking VWAP..... bounced off a PM level..... in at 6.86, stop 6.74 below VWAP, target 7.31 Daily level..... took partials on the way up without a good clear sign only on the fast price action.... got halted..... resumed to a sell off to which I partialed towards the top and all out above BE...... +2R CLVS Reason2Trade.... On Scanners.... RVOL 3.1..... General news for sector..... PB#2..... A setup..... 1/3 size..... Was looking for an entry and when I turned my attention it made the move I wanted.... waited for a clear sign for an entry using the 2min ABCD... breaking above VWAP with increased volume..... in at 16.15, stop at C 15.91, target at 16.50 for PMH and large ASKs stacked to that point..... I was late on the first pop and partialed on the second then all out on LVL2 changes and price action slowing..... +.3R Cons: Probably could have done without the CLVS trade but I did take a very small size.... Pros: Took the trades that setup the way I wanted them to and did not hesitate Fav. Trade: ASLN Notes: Out for the day with two trades.... Rs: +2.3
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Week 11-25 to 11-29-19 What I did Bad this week: Beginning of week I was still gun shy and took small sizes even on A+ setups Took a trade out of boredom (costing money) Took a trade from an SMB setup.... All indicators said it was an A+ but this was my first time trying it so I should have been in SIM Took 3 loosing trades before 1100 What I did Good this week: Took A or better setups (at least that is what I thought at the time) only Limited my trades Changes to be made the upcoming week: None Rules to stick by for the upcoming week: After I call it a day either by max loss or a profit that I am comfortable with, only use the rest of the day for Journal and Playbook for evaluation In-Trade and Daily Stops Only A or A+ setups Do not Chase Challenges for Myself for the upcoming week: No voice chat before 1000 so that I can focus Max of 2 trades before 1100 (which is also my planned break) unless both are green Read my sticky note before each trade Goals and Rewards: I will need +20R at end of month to consider trading with more size
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Vikramaditya Trading Journal - Live 08Apr2019
Glenn Budde replied to IamKarthi's topic in Day Trading Journals
Congrats..... That is what I am aiming for..... Good Work.... -
11-29-19 AIS 0800, 5 hrs, 6/10 PAT: no boredom trades.... If the trade is right take full size... A setups only.... Do not overtrade or chase..... Notes: If I am up and feel a bit overtraded, Quit....... No voice chat till 1000...... Max 2 trades before my planned 1100..... Read before trade sticky.... ASLN Reson2Trade.... Squawk announced... RVOL 180.05 at time of trade..... PB#4 / PB#1....... A setup..... 1/3 share size as this was my first Squawk trade..... on the 5min ORB without an ABCD but high volume, nice LVL2 and T&S....... Squawk announced it about 1min before I took the trade.... I did not take it right away because I had promised myself I would not trade in the first 5min..... Got it on a very slight pullback..... took profits each time the T&S looked like it may be turning and all out when LVL2 had no more ASKs and the BIDs were stacking...... In at 4.43, stop at 4.23, target 5.49...... +4R Cons: None.... Pros: One and Done Fav. Trade: ASLN Notes: took first trade using Squawk but made sure I had something to go on other than Sqk.... Rs: +4
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11-27-19 AIS 0810, 3.5 hrs, 6/10 PAT: If the trade is right take full size... A setups only.... Do not overtrade or chase..... Notes: Careful later in the day on boredom...... If I am up and feel a bit overtraded, Quit....... No voice chat till 1000...... Max 2 trades before my planned 1100..... Read before trade sticky.... Took 2 trades on BBY One new play from SMB for 2nd day perfect setup and like a fool I took it live and for full share size as this is the first attempt on this new strategy.... 2nd one was a VWAP play that I got stopped out on ...... not sure what I am thinking today so I will just get out for the day.... The first one was an A+ by SMB standards and the 2nd one was an A setup.... I dont feel bad about the setups only that I took the first one Live.... Cons: Probably should have sat on my hands till something slapped me in the face.... Pros: none Favorite Trade: none Notes: Rs: -2
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11-26-19 AIS 0805, 4.5 hrs, 6/10 PAT: If the trade is right take full size... A setups only.... Do not overtrade or chase..... Notes: If I am up and feel a bit overtraded, Quit....... No voice chat till 1000...... Max 2 trades before my planned 1100..... Read before trade sticky.... DKS First PB#1..... A setup... 1/2 size (ORBs elude me).... abov VWAP and on a slight Pullback on the 5min and a nice ABCD on the 1min.... stopped me out to the penny (I even moved my stop down a few cents) I wanted to get right back in but felt like it would be a bit of a revenge trade..... -.5R Second PB#2/PB#3.... A+..... full size..... on the 1min making a nice ABCD with two touches to the 9ema with volume rushing in.... the 15min was holding VWAP as support.... Entry was 44.95 Stop 44.72 Target 45.96...... Think I took the first 50% partial too early..... Took partials up to a 2 point move.... +2R took one more trade on BBY.... It was very extended but gave me an entry for a trend and it was just too slow, with a partial and all out at stop it was BE..... Cons: Took BBY on Boredom and ended up wasting time and money (commissions) on a BE trade Pros: Felt in control in the DKS trades and happy with the second entry even though it could have been earlier.... Favorite Trade: 2nd DKS Note: Even though I didnt get right back in on DKS I feel like it may have been revenge so I waited for a better opportunity..... Rs: +1.5R