New Trader Journal

[hailchaser2 185]

Tuesday LIVE

-3.3R 

0/3 Max Loss

How Many Trades Made 2:1? 0/3

NVDA 1MinOrbDown -1.1R

Would have hit 2:1? NO

Entered short after pushed below VPOC and PCL. The only thing that maybe should have given me pause was the long bottom wick before the open, then the 1st candle also had a bottom wick. I also may have let my pre-market bias affect this trade, I was hoping for tech sell off, and NVDA to lose 400 and drop fast after that. 

WFC 1MinOrbDown -1.0R

Would have hit 2:1? NO

This was a trade I should have stayed away from, terrible looking first candle. Again, I let my pre-market bias affect me.

 

SQ 1MinOrbUp -1.2

Would Have Hit 2:1? NO

My mistake on this trade was not waiting for re-test of VWAP after it passed through. Since I had already been stopped out twice, I was afraid of missing this move, even though I could hear Peter in my head saying "Never enter right after passing VWAP, it almost always re-tests before continuing"

 

This was a quick and bad trading day, but I see what I did wrong, and I also used this day to make a new rule. If I stop out on two 1MinOrb trades, I will not trade again until after the first 5 Min candle is finished, I told myself this today, but did not listen to myself.

I also caught myself adding up potential profits in the pre market, I was thinking 10 shares of SQ, if it dumps $20, that's $200. This type of thinking will lead to failure. DO NOT FALL BACK INTO PROFITS OVER PROCESS.

Edited July 17, 2020 by hailchaser2

[Christopher 129]

SQ wicked you out to the penny, little bit of bad luck there. 

WFC probably took a hundred traders through the meat grinder before making a move! : p 

I feel like I always get chewed up trading the banks, we're talkin 4 billion+ float. That's a lot of shares man, sometimes they do move nice though. 

Shake it off, you've been doin great. 

[hailchaser2 185]

Wednesday LIVE

-3.0R Max Loss

How Many Trades Made 2:1? 3/8

MSFT 1MinOrbDown -0.73R

Would Have Made 2:1?NO

This trade was decent, just didn't work out. 

 

DAL 5MinOrbUp -1.0R

Would Have Made 2:1?NO

This entry was late, I belive I was waiting to clear the MAs and that daily before entering, I figured if it cleared those, it had a good chance to run.....The problem is, waiting to clear those gave me a terrible R:R. I should have seen that.

 

GS.1 5MinOrbDown +0.44R

Would Have Reached 2:1? YES

Great 5 MinOrb setup.

GS.2 B.O.Down at a Level +0.23R

Would Have Reached 2:1? NO

This trade is not a current setup

GS.3 B.O. Down at a Level +0.27R

Would Have Reached 2:1? NO

Again, not my current setup

 

 

JPM 5MinOrbDown, (Kind Of) +0.39

Would Have Made 2:1? YES

I wanted to enter at the break of that first 5MinCandle wick, but again, I had a MA and daily level I wanted to see the price break, it did.

 

 

MRNA DoubleBottom +0.27

Would Have Reached 2:1? YES

This could have been a nice trade, but I got cold feet and took a quick partial.

 

Went to work after the MRNA trade, then did the following phone trade.

 

ROKU No Strategy -2.1R

Would Have Made 2:1? NO

Dumb.......I'm deleting the DaS app from my Phone, I could have saved 2R's. My phone chart looks nothing like my regular charts. This won't happen again.

 

 

I did a good job today waiting after my 1MinOrb got stopped out. I made a rule yesterday about 2 stop outs, I had to wait for 5 Minutes, well I only had one stop out and told myself to wait.  

 

I am going to regroup and get back at it tomorrow, tonight I'm going to do some reviews of my 1MinOrbs and see if I am doing something different or if the market has just changed a bit. If it's the market, I might decide to wait 5 Min before entering tomorrow..

Edited July 17, 2020 by hailchaser2

[hailchaser2 185]

Thursday LIVE

+2.0R

6/8

How many trades Made 2:1? 6/8

 

NCLH Rising Devil -0.41R

Would Have Made 2:1? Yes

Rising Devil isn't really one of my setups, but it is similar to a 1MinOrbDown.

NCLH.2 1MinOrbDown +0.35R

Would Have Made 2:1? Yes

NCLH.3 5MinOrbDown +0.45R

Would Have Made 2:1? NO

 

 

TWTR 5MinOrbUp +0.02R

Would Have Made 2:1? YES

I didn't like the way it failed to get back to previous high, so I exited.

 

JNJ 5MinOrbDown +1.4R

Would Have Made 2:1? YES

Good 5MinOrb

 

DELL 5MinOrbUp -0.01R

Would Have Made 2:1? YES

Didn't feel good about the stock moving sideways, exited near BE.

 

ROKU 5MinOrbUp +0.05R

Would Have Made 2:1? NO

Bad psychology again, exited early.

 

MSFT BO Down at a Level +0.19R

Would Have Made 2:1? YES

 

 

Very unsure of myself today, probably because I had two max loss days in a row. If tomorrow continues to show me that my trades make 2:1 on a regular basis, I am going to change my partialing plan for next week.

[hailchaser2 185]

Friday LIVE

-3.0R MAX LOSS

4/7

How Many Would Have Made 2:1? 1/6

MSFT.1  1MinOrbDown -1.0R

Would Have Made 2:1? NO

Good Trade, just didn't work. Maybe I could have waited longer into the second candle to see how it reacted to VWAP, I don't remember how the candle actually formed.

MSFT.2 5MinOrbDown +0.1R

Would Have Made 2:1? YES

Good entry, terrible case of cold feet. I had this problem all week. I will work on this problem starting Monday.

 

 

 

ROKU 1 MinOrbUp +0.3R

Would Have Made 2:1? NO

Bad R:R, too far from VWAP, which made it too close to PCL (Black dotted)

 

 

 

AMD.1 No Strategy +0.1R

Would Have Made 2:1? NO

BAD TRADE

AMD.2 BODown@Level -1.3R

Would Have Made 2:1? NO

BAD TRADE AGAIN

 

 

UAL No Strategy -1.0R

Would Have Made 2:1? NO

Not one of my setups.

UAL.2 BOUp@Level +0.36R

Would Have Made 2:1? NO

BAD TRADE. Not one of my setups.

 

A very bad way to end the week. I have a lot to work on this coming up week. My main focus is gong to be letting stock go to 2:1 before first partial. Also get back to just trading Orbs, I started trading other setups this week and some NO STRATEGY at all. 

 

Edited July 19, 2020 by hailchaser2

[hailchaser2 185]

Monday LIVE

2/2 +2.4R

How Many Made 2:1? 2/2

Both stocks today were just on my watch list because of the daily charts. I liked BA, and someone else in the pre market chat pointed out TWTR daily.

 

BA was at pretty significant support level, I was looking for a good bounce and run up. or a loss of the level.

 

TWTR had a great ascending triangle forming on the daily, looked good for a breakout.

 

TWTR 1MinOrbUp +1.2R

Would Have Made 2:1? YES

1st candle had no volume, so I basically ignored it and acted like candle number 2 was the open.

 

 

As you can see I failed to wait for 2:1 on my first partial, I did make it to the 1:1 mark though....baby steps.

 

BA 5MinOrbDown +1.2R

Would Have Made 2:1? YES

Look at how VWAP was resistance for the 4 candles before my entry.

EDIT: I knew there was a trade this morning that I almost took, but I couldn't remember what it was. Every night after I journal here, and journal in TraderVue, and log my Orbs in my Orb Tracking Sheet, I go back to DaS and review how each of my watchlist tickers did at the open. I try to see if there is a good setup I missed, basically just go over the open in my head again. I then move today's watchlist down to "Yesterday's Watchlist" and get my blank lines setup in my watchlist for tomorrow. When I was looking at BA, I realized that was the trade I didn't take. Look at the 1MinChart, the first two candles had big wicks down, I like to see this for 1MinOrbUps, when the third candle went through VWAP, I almost took it long, I actually had my finger over the hotkey, but I caught myself......the 100 and 200 SMA are right there above PCL and price action. It's refreshing to see that I'm catching myself before making mistakes like that. It's so easy to see after the fact, the trick is to see it before entering, and I'm getting better at that.

 

 

This one I didn't even make it to 1:1 before first partial.

 

I was a little more patient today with partials, still need to work on it this week, I really think the 2:1 is what I need to do. But man it feels good to get a partial and know the trade is going to be green no matter what after that first partial.

 

Good start to the week after a bad week last week, I was -5.7R last week.

Edited July 21, 2020 by hailchaser2

[hailchaser2 185]

Tuesday LIVE

-2.0R Max Loss

4/8

How Many Winners Made 2:1? 3/4

 

KO.1 1MinOrbDown -1.2R

Would Have Made 2:1? NO

Decent trade, the wicks on the first two candle were a bit long to the bottom side, that was a sign not to enter short, but I thought since it tested VWAP on the 3rd candle and moved down, it was still a good short.....It didn't work out.

KO.2 Lightning Bolt Down -1.3R

Would Have Made 2:1? NO

It broke VWAP and 100SMA, came back up and tested VWAP, then broke 100SMA again, I shorted as soon as it broke through that MA. This didn't work either. I'm ok with this trade though.

KO.3 No Strategy +0.15R

Would Have Made 2:1? NO

A bit of a revenge trade. Bad

 

BA.1 5MinOrbUp +0.17

Would Have Made 2:1? YES

Good entry, early partial again. booooo

BA.2 BOUp@Level +1.27R

Would Have Made 2:1? YES

ok trade, but not a current setup

 

 

First BA trade study, would have hit 2:1, but would have taken a while to get there.

BA.2 made it to 2:1 easy but I partialed too soon once again.

 

AMD.1 5MinOrbUp -0.93R

Would Have Made 2:1? NO

I liked this trade too, didn't work out though.

AMD.2 5MinOrbDown +1.16R

Would Have Made 2:1? YES

again, made 2:1 easy, but I partialed too soon. AGAIN

 

AMD.3 Phone Trade Double Bottom -1.35R

Would Have made 2:!? NO

I was supposed to delete the DaS app after last week's bad ROKU trade.....I deleted it after this trade.

 

APP DELETED

 

Even though it was a bad P&L day, I only had one bad trade, and a couple that aren't my current setups. I had slippage on nearly every trade today, it was strange. I need to get over this fear of having a losing trade, it's causing me to partial at or before 1:1....I need to get consistent at taking the first partial at 2:1.

 

[Christopher 129]

Get a stress ball, just something to keep your hands off the keyboard until 2:1 lol! Sometimes I pick up my guitar when my rational brain knows I need to wait but my emotional brain just wants early profit. 

Better yet maybe try all or nothing 2:1 trades, no partials. I remember watching a video of Aimen doing that because he was exiting too early. 

You had some good trades today, I like $AMD after that 5 min engulf.

Also per your journal I started meditating prior to the open, I do about 10 minutes guided, then 3 min silent, i love it,  I'll never stop that for as long as I continue to trade. 

Hope all is well, keep it up!

 

[hailchaser2 185]

Wednesday LIVE

1/4

-2.7R MAX LOSS

How Many Winners Made 2:1? 0/1

 

WFC 1MinOrbUp -1.1R

I liked the wick on the first candle, I should have stayed away though because PCL (Black Dash Line) was right above my entry.

 

 

SNAP 1MinOrbUp +.09R

 

 

UAL 5MinOrbDown -1.0R

I thought this was going to break support on the third try, big BIDS at 32.00, descending triangle on the 1Min Chart......but it just didn't work out.

 

 

AMD 5MinOrbUp -0.8R

ahhhh, the missed trade of the day, I always use loss of VWAP as stop any time I enter a trade like this. I believe I could have used loss of VPOC (Blue Dash) instead since it was just under VWAP. price only went past my stop 4.5 cents.......then look at what happend the rest of the day in the pic below this. It ran up to 60 without a pullback. IU probably would have re-entered if I hadn't hit my max loss already. 

 

 

 

Today, the only trade I didn't really like was WFC because of the PCL just above entry.

 

The rest of the week I'm going to stop 1MinOrbs, I'm just not hitting them right now, 5MinOrbs only. Just not sure if I should un-mute the chat at the open or not....I always mute it before the open to help my concentration.

[hailchaser2 185]

Thursday LIVE

+0.6R

4/6

How Many Winning Trades made 2:!? 5/6 I counted the trade that didn't fill, and the one that filled below candle.

 

I stuck to my plan of no trades before first 5Min candle.

 

First trade of the day MSFT. I didn't get filled with Kyle Hotkey Would have been a good start to the day.

Would Have Made 2:1? YES

Would have been a nice trade.

 

AMD 5MinOrbDown +0.97R

Would Have Made 2:1? YES

Partialed too soon again

 

 

I didn't wait for 2:1

 

ROKU 5MinOrbUp -1.3R

ROKU.2 5MinOrbUp +0.73R

Would Have Made 2:1? YES

My first attempt filled .01 higher than the high of the candle and my stop triggered even though the low of the candle was .01 higher than my order. very strange. That alone cost me 1.3R plus the missed trade, my size was double what my second entry ended up being. Just bad luck on this one I guess.

 

 

 

WFC 5MinOrbDown -0.36R

Would Have Made 2:!? YES

I chickened out of this trade.

 

TwTR.1 LighningBoltUp/5MinOrbUp +0.16R

Would Have Made 2:1? YES

TWTR.2 BO HOD +0.44R

Would Have made 2:1? NO

 

 

 

 

After doing this journal, I feel a lot better about how I traded today......well, the trades I took, my first partial still needs work. I haven't been to the store to get that stress ball yet. I think tomorrow I'm going to compromise and try to wait until 1.5R. Today I did wait for 1:1 on all of them except one. So I am making a small amount of progress. 

 

Thanks For Stopping In.

 

 

[hailchaser2 185]

Friday LIVE

4/4

+2.1R

How Many Winners made 2:1? 3/4.....almost 4/4

 

INTC BODown@Level +0.84R

Would have Made 2:1? Yes

I'm not supposed to trade pre-market, but damn this looked too good, lol

 

WFC 1MinOrbUP (kindof) +0.78R

Would Have Made 2:1? YES

I didn't wait the full 5 minutes, but this thing was ready to go.

 

BA DoubleTop +0.26R

Would Have Made 2:1? NO....but really close. I would have partialed because the 50SMA was near 2:1

Good double top / Aiman reversal. very extended from the 9EMA on the 5Min. I meant to take a partial and got all out on accident.

 

 

INTC Double Bottom MA cross +0.26R

Would Have Made 2:1? YES

I was wanting a quick squeeze back to VWAP, I needed to leave for work. So I didn't have time for a slow move.

 

Good way to finish the week, but I really need to fix this quick partial problem to make my daily Rs much better, This week I had a majority of my trades make it to 2:1. I feel good about my trading right now, just need to tweak that one thing. I will get there.

Edited July 25, 2020 by hailchaser2

[hailchaser2 185]

13/17 winners would have made 2:1 this week. So my entries are good, it's my partialing that really needs work. 

I was only +2R this week, it's nice to be positive, but after seeing how many trades would have made 2:1, i'm frustrated because I'm struggling so bad to change this area of my trading. I've also had 3 strong Margaritas tonight....it is national tequila day.

 

I'm flying home this weekend so I should be trading from home next week. I guess I'll have to buy another monitor, because I'm not going to fly home with this one. 

[hailchaser2 185]

Monday LIVE

11/20

-0.8R

How Many Would Have Made 2:1? 6/11

 

Back home for the week, no work. So I sat at my computer and overtraded until I hit max loss. Not very smart. It actually wasn't going too bad until my daughter started asking me to help with her TV problem, at that point I lost all concentration and started trying to make more money real quick before I had to go help her. I've been in a hotel trading alone for several weeks now, this is a bigt change being home with the family. I'm going to have to get much better at walking away when I'm distracted. 

I was up to 2.4R at one point in the morning, but I didn't know it, because I don't look at my P&L on a regular basis.

 

SPCE

Would Have Made 2:1?

 

BA

Would Have Made 2:1?

 

VXRT

 

Would Have Made 2:1?

 

MRNA

 

Would Have Made 2:1?

 

That was my normal morning session, I would usually head to work after those opening trades, I was 4/5 and +1.6R at that point.

But I didn't stop

 

 

 

 

 

Edited July 28, 2020 by hailchaser2

[hailchaser2 185]

and some more trades from Monday

 

 

 

 

 

 

 

[hailchaser2 185]

I wasn't able to log on the forums list night, so here is yesterday's recap.

Tuesday LIVE

-0.3R but max loss with commissions/fees

9/17

How Many Winners Made 2:1? 6/8

 

I gave my profits back just like yesterday.

 

TSM.1 Premarket -0.9R

TSM.2 Premarket -.4R

Not a good way to start the morning.

TSM.3 1MinOrbDown +0.57R

Would Have Made 2:1? YES

 

 

BA 5MinOrbUp -1.0R

 

INTC 5MinOrbUp +0.23R

Would Have Made 2:1? NO

 

NCLH 5MinOrbUp +1.0R

Would Have Made 2:1? YES

 

ROKU BODown@Level +1.4R

Would Have Made 2:1? YES

 

 

BA BOUp@Level +0.23R

Would Have Made 2:1? YES

 

TSLA.1 BOUp@Level  -0.6R

TSLA.2 BOUp@Level +0.4R

Would Have Made 2:1? YES

 

 

BA DoubleTop +0.23R

Would Have Made 2:1? NO

 

RCL DoubleTop +1.5R Won Member TOD)

Would Have Made 2:1? YES

 

BA Again LightningBoltDown -0.83R

 

 

BA LighningBoltDown -0.83R

 

 

AMD BODown@Level -1.0R

 

 

Lost my concentration and started revenge trading BA later in the morning.....it's so easy to just start firing away when I lose my self awareness. Still a work in progress, but that never really ends does it?