New Trader Journal

[hailchaser2 185]

Thursday SIM

+3.2R.....4/6 accuracy

1st MGM -0.9R I tried to enter closer to VWAP, but price shot up quick on me. It didn't matter, the trade would have stopped me out anyway.

2nd MGM +0.3 5MinOrbUp ok trade, no follow through after entry.

 

 

SPOT +1.0R ….1MinOrbDown , two big wicks up first two candles, so I took the short just below VWAP. only got two partials.

 

 

UAL -1.3R...price lost VWAP and 200SMA so I shorted. Price quickly recovered and stopped me out.

 

KR +2.8R...5MinorOrbDown, BO below daily support levels, descending triangle. I almost missed this trade, I just clicked over to it just before the dump. I also made a good ADD at VWAP, but just like yesterday, got nervous and covered those shares the next candle. I need to start trusting my adds more.

 

 

2nd UAL +1.3R...5MinOrbUp, good trade, I almost entered again after my stop out at BE, but my day was pretty much finished.

 

 

 

Another solid day. Biggest thing to work on is trusting my adds and letting them go. Now I'm off to take the kids on a Jeep ride!

 

Edited June 18, 2020 by hailchaser2

[Christopher 129]

That's the bees knees right there bro ! I took $KR off my list this morning because the level 2 was so sparse, but looking at it after it opened it was definitely playable, I gotta start focusing on catalyst stocks more! well played. 

[hailchaser2 185]

Busy weekend so I missed Friday journal. 

SIM Friday -3.7R

my first three trades were all losers. all on BA 

Long

 

Short

 

Long

 

This was terrible trading. In SIM, my account doesn't get locked for max loss like my LIVE account. So I went full blown hulk mode for the rest of the morning. Ended with 127ish tickets. Over -100R. It was absurd and silly. There is nothing I can learn from trading like that.

 

Had a good weekend though. Got a new pellet Smoker Saturday. Sunday headed to my next storm, drove from 7 AM to 11 PM. Now I am in mountain time, so I can trade at my regular station instead of trading on a laptop in my Jeep.

[hailchaser2 185]

Monday

SIM +3.8R

One of my bigger R days this month, but I didn't feel good about my trading.

 

SPCE -0.6R

made a deal with NASDA and was gapping up  so I took a 10 share long on SPCE in the Pre-Market. This does not help my learning at all, not one of my playbook trades. Very bad way to start the day.

 

 

1st RCL +1.6R

Good 1MinOrbDown

2nd RCL +1.0R

LightningBoltDown

 

1st MSFT +0.2R

1MinOrbDown

 

2nd MSFT -1.0R

5MinOrbDown

 

3rd MSFT -0.6R

LighningBoltUp, but I entered too soon, the next candle would have been much better, and been a big runner.

1st WMT -1.0R

1MinOrbUp

 

2nd WMT +1.6R

5MinOrbDown

 

Then I ended up taking trades on everything in my watchlist, and secondary watchlist. I'm too tired to figure up each individual "r" for each trade.

 

 

 

 

[hailchaser2 185]

Tuesday SIM

+2.0R

Not many good trades today. I also traded some setups that I'm not supposed to. I need to get back to my 3 main trades I'm currently taking, Orbs, LightningBolts, and DoubleTopsBottoms. That will be my goal the rest of this week.....No more Break Outs at levels, No more reversals that aren't doubles, or anything else I see that tickles my fancy.

 

1st FSLY 1MinOrbDown -1.0R. stock met all of my criteria just didn't work.

2nd FSLY 1MinORbDown +0.5R. No follow through.

 

C 5MinOrbUp +0.8R. Good trade.

 

1st AAPL 5MinOrbDown -1.0R. 

2nd AAPL HOD BO +0.04R

 

 

 

SQ 5MinOrbUp  +0.1R

 

 

TBIO BO Down at Level +0.2R

 

Not one of my setups

 

 

SQ BO down at Level +0.4R

 

Not one of my setups

 

c Lightning Bolt Down +0.14R. Look at the drop I missed because I got cold feet and partialed too soon.

 

 

JPM Lightning Bolt Down +1.7R 

 

ROKU Reversal. -0.1R I moved my stop after the price pulled back near my entry. Had I left my original stop in place, this trade would have worked out well.

Not one of my setups

 

 

BA +0.3R Not one of the setups I'm trading right now.

 

 

 

 

 

 

[hailchaser2 185]

Wednesday SIM

+2.4R

Felt good about my trades today, let's see if I still feel that way after this review.

TMUS 1MinOrbDown -1.1R

This was a bad trade for a couple reasons, it opened too far from VWAP, and the first candle had a big wick down. I was biased because of the bog drop after news halt early in premarket. I didn't let the chart and price action speak to me, I was just looking for a spot to go short.

 

DELL 1MinOrbDown +1.4R 

Good trade, second candle tried to move up and couldn't even get back to half way point of first candle. it also lost PML. My R:R criteria was not 3:1 to next level. I had a daily level at 1:1. It met the rest of my criteria though, I was fortunate this trade kept falling for me.

 

 

PLUG 1MinOrbUp +0.3R

This was a questionable entry. the fourth candle wicked down, when the 5th wicked down and started coming back up, I entered long. No follow through.

 

 

PTON 5MinOrbUp +0.2R

I was happy with this entry, no follow through.

 

 

RCL 5MinOrbDown +1.5R

This one was picture perfect, ABCD on the 1 min chart, 2 wicks up on first two 5 min candles. was able to get an add at break of daily level.

 

 

 

Still happy with my trading today. I also accomplished the goal from yesterday, just traded my 3 setups.

 

 

 

[hailchaser2 185]

Thursday SIM

-3.2R

Tough day, I was not relaxed at the open, I need to be better at self awareness. I need to know when I am anxious so I can stop bad trades before they happen.

 

NVDA 1MinOrbUP +0.3R

Not really a 1MinOrbUp....I didn't even wait for the first candle to form. I let my pre market bias of a daily breakout affect me at the open, I was afraid I would miss the move. That's ridiculous, there is almost always another opportunity to get in later when you miss an entry.

 

NVDA.2   1MinOrbUp -1.0R

Still let my  long bias affect my trade, and I chased the entry. Also had a daily level right above my entry, so the R:R was terrible.

 

UBER 1MinOrbDown -0.7R

Another bad trade, look at that giant wick on the first candle, shows buying pressure.....and I short it the next candle.

 

UBER.2  5MinOrbDown -1.0R

This trade wasn't as bad as my other trades up to this point. But there were still signs that this was not a clean setup. Look at the 2 min chart. The price was obviously respecting the daily level I had marked, big wicks on all three candles showing buying pressure.....and I shorted it.

 

DIS 1MinOrbUp -0.1R

I'm ok with this entry. Big slippage on my BE stop.

DIS.2   Revenge trade -0.5R

I realized this was a revenge trade and covered half of my size, so it wasn't a full R loss.

 

DIS.3 DoubleTop +0.4R

Failed at the 200 SMA twice so I shorted.

 

JPM 5MinOrbUp +0.4R

 

Long consolidation, I partialed too soon. This is a recurring issue, but it's an even bigger problem if my day has been going poor like this AM was. This should have been the trade that got me back to even on the day. I need to be more self aware in this situation as well.

 

BYND News Trade +1.0R

I heard CNBC say Mcdonalds was not moving forward after their tests with BeyondTheMeat. I took a short. I got two good partials and then when I went to set a trailing stop I made a hotkey mistake and exited completely. This made me angry, so I made an emotional short and lost my R from the first trade.

BYND.2    AngryTrade -1.1R

 

 

TSLA LightningBoltUp -1.0R

Good trade, but I think by Peter's rules I'm supposed to wait for the candle that makes the 3rd touch to close above VWAP before entering, IDK if it would have made a difference or not, I still might have gotten stopped out.

 

TSLA.2  Revenge Trade   +0.02R....Yes, that's not a typo, I made 2 pennies on this one.

 

 

I traded very bad today, tomorrow I will remember to watch William's pre market meditation ….today I realized I forgot to watch it, I looked at the clock and the open was only 90 seconds away. I considered watching it anyway, it's 3 minutes long, but I decided against it. Maybe that is what caused my anxiousness today. Back to the grind tomorrow, with more self awareness and more concentration.

 

 

 

 

[hailchaser2 185]

Friday SIM

+5.2R

I traded fairly well today, should have been more patient on some entries. I am actually very happy with a couple of trades I didn't take. There were two different times I was going to take positions, one I didn't because it was too far extended from VWAP, I think that was GPS, even though that would have been a big winner, it wasn't one of my current playbook strategies. The second was a break of HOD fifteen minutes in or so, I don't remember which stock that was maybe BBBY, I'm not trading HOD or LOD breaks right now. These two non entries are what I am most excited about from this week, it shows I'm starting to be more self aware while trading. Another big accomplishment today was it is the first day I CHOSE to trade in sim. My new funds hit my CMEG account, so I could have traded live if I wanted to. I made a deal to have 3 consecutive green weeks before going live again, I stucjk to the plan and conquered the temptation to get back in live. So I am happy with my progress this week, and look to build on it next week. I think self awareness is the most important aspect of my trading, so I'm really going to concentrate on that moving forward.

 

NKE 1MinOrbDown +0.22R

This was a good entry below VWAP, if I would have been more patient with my profit taking, I could have had a nice winner.

NKE.2 5MinOrbDown +0.4R

Good trade, it just wasn't ready for the big drop yet, it did happen 10 minutes later after I stopped watching it.

 

 

WFC 1MinOrbDown +0.35R

Stock tried to get above VWAP and rejected hard, so I shorted, no follow through.

WFC.2   5MinOrbDown +0.23R

This one also wasn't ready for the big move, happened 10 minutes later just like NKE.

 

 

 

C 5MinOrbDown +0.17R

Slippage got me on this entry

C.2   5MinOrbDown  +3.9R

I got pretty lucky here, as I was hitting my hotkey for shorting, the price quickly moved closer to my stop loss, so that gave me more shares than if it had not made that move, either way, this was a good 5minOrb with ABCD on the 1Min.

 

Did a little stat review in TraderVue before journaling. Group 1 is longs this month, Group 2 is shorts this month....I had no idea there was such a big discrepancy. Is this something I should worry about, or just see how it plays out next week before making any adjustments?

 

Edited June 27, 2020 by hailchaser2

[Christopher 129]

Nice stats dude! Actually really interesting, I'd give it another month and see how your win rate plays out for long / short positions

Looks like a solid week with clear improvement! That's what it's all about!

Also, do you keep track of your weekly "R" count? That's the most important number for me, I'd like to get to a 10 R weekly average maybe based off 3-5 weeks of data before going live. If guys ilke Aimen are smashin 100R+ months there is no reason I can't do that, I don't care if it takes me another year. AHHH! 

🙂

Edited June 27, 2020 by Christopher Patterson

[tntp45 53]

18 hours ago, hailchaser2 said:

I traded fairly well today, should have been more patient on some entries. I am actually very happy with a couple of trades I didn't take. There were two different times I was going to take positions, one I didn't because it was too far extended from VWAP, I think that was GPS, even though that would have been a big winner, it wasn't one of my current playbook strategies. The second was a break of HOD fifteen minutes in or so, I don't remember which stock that was maybe BBBY, I'm not trading HOD or LOD breaks right now. These two non entries are what I am most excited about from this week, it shows I'm starting to be more self aware while trading. Another big accomplishment today was it is the first day I CHOSE to trade in sim. My new funds hit my CMEG account, so I could have traded live if I wanted to. I made a deal to have 3 consecutive green weeks before going live again, I stucjk to the plan and conquered the temptation to get back in live. So I am happy with my progress this week, and look to build on it next week. I think self awareness is the most important aspect of my trading, so I'm really going to concentrate on that moving forward.

First, congrats on the awesome discipline !

Question, what is the difference between your Group 1 and Group 2 statistics ?

[hailchaser2 185]

28 minutes ago, tntp45 said:

First, congrats on the awesome discipline !

Question, what is the difference between your Group 1 and Group 2 statistics ?

Thanks!

 

Group 1 was all of my LONG trades, Group 2 was all of my SHORT trades.

[hailchaser2 185]

7 hours ago, Christopher Patterson said:

Nice stats dude! Actually really interesting, I'd give it another month and see how your win rate plays out for long / short positions

Looks like a solid week with clear improvement! That's what it's all about!

Also, do you keep track of your weekly "R" count? That's the most important number for me, I'd like to get to a 10 R weekly average maybe based off 3-5 weeks of data before going live. If guys ilke Aimen are smashin 100R+ months there is no reason I can't do that, I don't care if it takes me another year. AHHH! 

🙂

I did make an excel sheet that tracks several things, win %, sharpe ratio, "R"s, and maybe some other things, but I haven't used that spreadsheet since I started with TraderVue. I would like to get back to using it if I can find time.

 

[hailchaser2 185]

Monday SIM

+3.3R

 

BYND 1MinOrbDown +3.3R

When second candle failed to hold VWAP, I went short. I thought about adding for the 5MinOrbDown, but decided against it, BYND can be very erratic, so I just decided to play with what I had.

I also continue to make improvements on my self awareness. I had a couple of trades that I would usually have entered, especially since I was in a winner already. But I took a breath and realized they did not meet enough criteria for me and I stayed away. I looked and looked for another trade, but didn't see any that I liked. 

I need to keep improving on my self awareness. I watch William's meditation video in the morning after the pre-market show and before the open. This BYND trade worked exactly as I had pictured it during the 3 Min Meditation. I have also started muting the chatroom at the open. It is helping me concentrate on the trades I'm looking for without getting distracted by the trades Andrew and Brian are talking about.

[hailchaser2 185]

Tuesday SIM

+2.2R

 

MU 1MinOrbDown -1.0R

First candle was white, closed above VWAP. and had a big down wick. Probably not the best short. 

 

 

NVDA 1MinOrbUp +2.5R

good trade

 

 

UBER 5MinOrbUp +0.6R

Not a clean chart on the 1 minute, but that first five minute candle with the big wick down, and VWAP holding as support looked good.

 

 

Finished the month of June +25R, this was all in SIM, but I am very happy with my improvements this month. I am tempted to go back live tomorrow since it's the 1st of the month. But I had a plan to get 3 positive weeks in SIM before going back to live. So I should stick to that plan and finish the week out in SIM, then plan on going live Monday. 

[Christopher 129]

we took the opposite trade on $MU, I took it long on the 1 min orb to the upside for a break of $52 there was a wall of about 200,000 shares being sold there, I knew it was significant but didn't realize how much till i checked my recording, it almost broke it, but then got stuffed down.  

I'm not that big of a fan of $MU, it always seems to trade with wide candles, it wicked me out on an ascending triangle later in the day too, it was a great entry and broke my way. 

You should be proud of your month man! Really, great job!