Vikramaditya Trading Journal - Live 08Apr2019

[IamKarthi 342]

08.May.19

Today is another red day.

I was watching lot of stocks, especially this being an Earnings season. I had apprx 15 stocks, out of which I picked 4 to watch at the Open. $EA, $NVDA, $AMD, $LYFT. I think all of them traded decently and lot of traders in the chatroom traded these stocks very well. I didn't. I am still under PDT rule. So 3 trades per week. Today I had one trade limit for the day (I can trade the other 2 only tomorrow). I didn't have good sleep. Also there is construction work going on near by apartment, that is very loud and annoying. It will continue for few more days, I am afraid. 

I was experiencing different emotions today, I was very cautious (probably over cautious) to put my one trade on the right setup. I missed the ORBU on AMD. $AMD usually moves up 40-50 Cents, today it moved up close to a dollar after the first 15 mins. I was ready for the reversal, a Hanging man appeared on 2 min followed by a shooting star (Marked below in blue arrow). Usually this is a good reversal indicator. I went Short, first target at VWAP, Stop loss 15c. The price went my way initially, but SPY was too strong today, and i got stopped out. 

Positives:

• I was Patient, my nerves are calming a little bit unlike the first 2 days Live.
• I watched the indicators and had a clear plan before entering
• I didn't partial as the price moved only 10c. 

Improvement: 

1. I was analyzing too many stocks, I am going to cut it down to less than 10, and then 2-3 to watch finally at the open.

2. I had a mindset that today most of the stocks are going to be bearish, after doing the Premarket tech analysis. But one tweet from the president can change the emotions of the entire market. I have to be open.

3. It may sound strange but I was like, i am within my daily loss for the day, so I am going to hold onto my position, till market reaches my Stoploss (like I owe it to the market) 

4. My pshychology played me out. As I had only one trade for the day, I wanted to hold on to a losing $AMD trade, although the indications were clear that I was wrong. What indications?

• The 5 min chart had a clear Higher Highs, I should have stopped before hitting my stoploss (check the 2nd chart), I wasn't watching 5min chart.
• I have a rule that if my setup isn't working then I should exit (Guerilla trading). I was holding on to my position for full 10-12 mins, with no action. 
• I had already realized during the trade, that the price action was too far away from 9MA (1min) and so any reversal, may only be a pullback, before going up. 

So far, I have respected my stoploss each day. I feel that I am missing the best part of the market setup due to the PDT rule.I may have to reconsider my Funding plan.

Edited May 9, 2019 by IamKarthi

[IamKarthi 342]

09.May.19

Today is a Green day.

It is getting very difficult to choose which stocks to watch, as there are so many in the watchlist. I picked $OXY, $ROKU, $BYND and $AMD to watch. I traded $ROKU.

I saw the three candle formation setup in 1min. A White (or Green) candle followed by small red candle (at the top half) followed by another white candle. When the third candle breaks the high, it is a setup for Long. I took it long and Partialed after few cents. The price was too volatile (1min candle was 2$). I didn't like how it traded, so got out immediately. Though the price didn't hit my stoploss, the price swing was too much for me. Of course, after that the price moved 10$, but I am not regretting my exit, I made my target for the day. Entry 72.2, first partial 72.8, final partial 72.54. 

the first candle on the 1min chart is a hammer. This is after a downward trend in the premarket. Usually this results in a bullish trend. But I was not watching the premarket closely and missed the first candle. May be I should spend the 5 mins before open watching the stocks. 

Good: 

• I was watching very few stocks as planned yesterday
• I saw the 3 candle setup and immediately jumped in, no hesitation. 
• I exited the trade, when I felt the price swing was too much for me. 
• No FOMO or revenge trading. 

Improvement: 

• I wanted to do better partials, but today I couldn't test this. 
• May be even better entry. 

Edited September 21, 2019 by IamKarthi

[Sheela 31]

Vikram.Aditya, Adding to your comments, below is what I see. I took this trade today along with the most of us in the group. I have 1min/2/5 and 15 which I don't use much. But 1/2/5 are being very helpful so far. From below, 1Min chart it has 2nd(31 Min) and 4th(33 Min) are very bullish candles confirming with the bullish volume on pushing the price higher. After that it got into consolidation and got into bit choppy. That is when I look into 2 min chart, if that does not support then wait for 5 min chart to form and look for better confirmation.  From below In 2Min chart I see the second candle(32 and 33 min)  is making higher highs and higher lows with bigger bullish bodies and  wicks at the bottom which confirms the price action is pushing higher. And later it formed little pullbacks for entry if missed at the second candle on 2min chart. But did not thought the price action would extend that far. It was good trade today, stay green

 

[IamKarthi 342]

Very nice Trade Sheela. And you are right, the Higher Highs confirm the continuation of the trend, esp on the 5 mins.

Also note that on the 1 min, candles 4, 5, 6, 7 and 8 are forming a flag pattern, when the 9th candle breaks the flat top, with increasing volume, then it's a good indication to go long. 

[IamKarthi 342]

10.May.19

I had the following on watchlist, $ROKU, $JD, $AMD and $UBER. 

I specifically wanted to trade $UBER today, after the IPO. So, saved my one trade for that. $UBER opened low and pulled up. I took an entry at the break of 2nd 15 min candle, then realized I didn't change to my Live account, it was still SIM. I didn''t want to chase the entry now, so I passed it, it turned out to be a good trade in SIM. I was watching $AAPL, saw consolidation flat top and the price breaking. Went long but got stopped out. $SPY was dumping and $AAPL followed too.

Good: 

• I was watching very few stocks and Premarket action also. 
• I didn't chase $UBER after my SIM trade.
• No FOMO or revenge trading. 
• My Partials on $UBER were good. 

Improvement: 

• Check the montage settings more carefully.

$UBER Trade:

$AAPL Trade:

Edited September 21, 2019 by IamKarthi

[IamKarthi 342]

15.May.19

I have been busy this week and also quite tired, so was not able to post it daily, Posting this weeks trades together. I will try my best it more frequently. I had $TEVA, $MU and $AMD on watchlist, $ARCI from LF was also on the watchlist.

I traded $AMD and got stopped out. $AMD was bullish at the Open and offered ORB up. I didn't take it as the R;R was not good, because there was 200MA on 1 min above. I waited 15 mins and decided to take Short below VWAP. The 12min candle had big body and volume and closed below VWAP. I waited for a confirmation on the 13 min candle, it opened and closed below VWAP. I took Short now below the support, but price bounced back from VWAP (sort of False breakout) and went up again. On hindsight, along with VWAP, 50MA was also acting as strong support (may be I was just too tired to see that). Nevertheless respected my Stoploss and got out.

Entry: $26.94, SL: 10c, Profit: $26.75 (3;1-R/R)

Good:

1. I didn't take ORBU, as the R;R was not so good. This is something I haven't done before, I would have jumped in earlier. 

2. I read the price action right and also respected my Stoploss. 

Improvement:

1. Not to Trade when tired/exhausted as not able to focus completely.

2. should have noticed the strong support(50MA)

 

 

Edited September 21, 2019 by IamKarthi

[IamKarthi 342]

16.Mai.19

Earnings season, I had $CSCO, $MU, $TWTR $BYND and $GPRO on the watchlist. I traded $CSCO. Red day. 

I have marked 54.4 to be an important level for $CSCO, At the open it broke thru the level and went up. It didn't give any pullback and I didn't want to chase it. i waited for the reversal. A shooting star appeared on 30 mins at resistence, next candle opened below the resistence. I took short and put in a range order to profit at VWAP, went for shopping. I was so confident about this one, because this also happened after 12PM, which is usually when the strong reversal happens (higher timeframes). The price went my way about 10c and then pulled up. Got me stopped out. $CSCO was very strong thru the day, even $SPY reversed to VWAP that day. Usually $CSCO follows $SPY but not today, may be due to the Earnings.

Good: Patience, didn't chase at the Open, waited for the Reversal on a Higher timeframe, after 12PM. 

Improvement: I don't think I would have done anything different. 

 

P.S: Now I can see that when I took short after the shooting star, all the MAs are trending up. It is safer to take Reversal, when the MAs are Trending down, or atleast Flat. 

 

Edited May 25, 2019 by IamKarthi
Added P.S

[IamKarthi 342]

20.Mai.19

Green day, after 3 consecutive red days. I didn't trade on the 17.Mai, it was a No trading day, after 3 consecutive red days. Not my Rule, but just wanted to take a break. On the 20th May I had the following on Watchlist. $MU, $TWTR, $S, $PINS AND $OTLK (which I traded in SIM on 17.Mai).

But I traded $PDD, after it came up in the TI scanners. Shooting star on the 15 min and I took short below VWAP. As always, I tried to put in 2  Range orders and move out. But a mistake happened,  may be I typed the price wrong, and 300 shares got closed immediately for a small loss. I closed the remaining 200 shares  after a small move (after a new HH on 5 min). I think I just wanted a Green day today to change the trend

       Entry- $20.65, Stoploss - $20.75 (above VWAP) Profit1 - $20.4 (RR - 2;1), Profit 2 - $20.2 (RR - 4;1), Size - 500 shares, 

      Good: Very good A+ Setup. The price also reached my intended final target ($20.2), so reading price action was good. Didn't panic after first mistake on Range order. 

      Improvement: It was a great setup, that I messed it up due to my error. I would not have profited early, if not for my first mistake and a small loss. 

P.S: Ignore the first trade, that can be seen on 15 and 30 mins. This was a reversal I took on SIM, after $20 support wall (which was also great setup) and worked well for me. 

Edited May 21, 2019 by IamKarthi

[IamKarthi 342]

22.Mai.19

Red day. I had a good Premarket analysis and most of my expectations came out well, but still I lost in my only trade of the day (on $PINS). It is a lengthy journal today. 

I was keen on $TGT and $LOW earnings. But my final watchlist was $CRON, $PINS, $SE and then $TGT, $LOW. Apart from that I had few other stocks I wanted to check at the end of the day($QCOM, $BYND etc.,)

• The reason for picking $PINS was that it was hanging by a thread to fall down below the PCL and YY low on daily. The premarket low was $25.12 and it had the setting to come down till $23. $PINS indeed dumped after the premarket low of $25.12.
• The reason for picking $CRON was it gapped up while most other stocks gapped down with $SPY. More importantly it was sitting above the 20MA on the daily, and it had the setting to go up till $17.3 once it popped above the 20MA ($15.76). $CRON did popup till $16.48 and was a great 5min ORB.
• The reason for picking $SE was that it had gapped up due to earnings, but it had a high short float of 41% ($TSLA short float is 28%). Shorts tend to cover when the stock gaps up. I have never traded $SE before, and that is why it was no 3 in the list. $SE did popup and ended at premarket high of 34.85 (although tough to trade)

Why i didn't pick $TGT and $LOW as first choice. Though $TGT had gapped up, it had 200 MA and 50 MA as resistence on the daily, I was not sure how it will play out. Similarly, $LOW had gapped down but I wasn't sure how it will play out around $100 support level. Eventually $TGT did close below the 200, 50 MAs on the daily and $LOW paused at $100 and eventually went down till $97.50.

Back to my $PINS trade. I had $CRON and $PINS on 2 montages. $CRON went down at the open and i was thinking may be it will trace it back to 9MA daily and continue to dump. It took 5 mins for the price to be bullish again. In the mean time I already jumped Short into $PINS the moment it broke the $25.12 level. I had given only 10c stoploss (till VWAP). But the price traced back to premarket high (25c) before it dumped. I was just watching the price to cross my stoploss and go against me, but eventually stopped out. Then the dump came which is what I expected.

Entry: 25.10, Stoploss - 10c (VWAP) Profit1 - $24.4 (RR-3/1) Profit2 - $24.1 (RR-10/1). Stopped out at $25.32

Good:

• Premarket analysis was good. And most of them eventually would have worked out.  
• I don't think I made a mistake in keeping VWAP as stoploss, it has worked for me before and this was one off. 

Improvement: 

• The volume was low at the open and the price tends to fluctuate big due to that (like a low float). The spread is also high. When this happens wait for 15 mins. I learnt this today. After 15 mins when volume came in, $PINS traded very nicely. I just now noticed that there was no candle formation on the 9.30, Nothing, no body, no wick. 
• I should wait for the setup to pan out 100% instead of jumping in the moment it meets my target expectation. 
• I let the price go past my stoploss. I would have stopped out early, but having one trade per day is playing out in my mind again. I don't want to miss the party. 

 

Edited May 23, 2019 by IamKarthi
included the failed 2min ORBD pattern chart

[IamKarthi 342]

23.Mai.19

Green day. Today $TSLA was in Play, but i never trade $TSLA and $ROKU, too volatile for me. $LB and $BBY had earnings, volume was Ok. I had $CRON, $MU, $AMD, $TWTR and $AAPL on the watchlist. 

I had $AAPL and $MU at the Open. $MU had formed the 3 candle setup. I took short $MU and Andrew also called out in the room, so I got my confirmation.

My Entry was 33.52, Stoploss 33.62 (premarket low & VWAP) 10c. I took one partial too many. The Move was 60c. It formed a double bottom on 1 min and a new Higher low on 5 min, I got all out here. 

Good:

• Entered the trade only after the confirmation of setup by $MU. 
• No FOMO about $TSLA or $LB
• I avoided $LB and $BBY as the volume was not so significant at the open.
• $X and $JD popped up close to the open, but I ignored them as it was too late. 

Improvement:

• My first partial was 1:1(RR), I will need to avoid 1:1, it will not work in the long term.  I also took 2:1 and 3:1 which are ok. 

Edited May 24, 2019 by IamKarthi

[Rob C 826]

I'm glad one of us was green today. Nice MU trade. Perfect exit.

[IamKarthi 342]

30.Mai.19

Red day today. Max loss day. I have been sick this week, didn't trade last couple of days. Today made 2 trades in $CY and $AMD.

Today's BBT watchlist was very thin. I was interested in $BYND, $ROKU, $AMD, $TEVA. I was watching $AMD and $TEVA at the Open. $AMD had all MA's as support levels except for 50MA on 30min. I had this level at $28.5 and if the price breaks this it can really shoot up. $AMD was very very choppy at the open, I was watching for 20mins and still I couldn't find a pattern. There was no setup. Typically, when $AMD or $MU don't open well, mid-day moves are very good. So I moved on to watching other stocks.

Trade 1: $CY hit the TI scanner as ORB 10min, this stock was brought up during the premarket show also. I looked at $CY and it looked very strong (all MA's in all timeframes were support.) I waited for a pullback close to VWAP and took it long. Got stopped out below VWAP. There was immediate resistence level above and the price couldn't break, eventhough it did the ORB with huge volume. 

$CY: Entry - $17.90, stop - 15c.

Trade 2: $AMD on 2 min was just breaking the VWAP and the 50 MA, I waited for the candle to close above this level and took it long. Price pulled back close to my Stop and shot up again. Volume was supportive too. It hit my level $28.5 and was pushing above it. Suddenly $SPY dropped and AMD dropped like crazy. I got out at my Stoploss. 

$AMD: Entry - 28.37, Stop -10c, Profit target - $28.78 (RR-4:1). .

 

Good: 

• Was patient, eventhough $AMD didn't do anything at the open for close to 20mins, just watching all timeframes as it was forming (including 15min) looking for setups. Only after a confirmation went long on $AMD.
• on $CY, I don't take the stocks from TI scanner usually. Today I didn't just jump into the trade, I checked all the MA levels and waited for pullback for Entry on $CY.
• on $AMD, When the price hit $28.5 the R:R was 2:1, I didn't partial out here, but waited for my 4:1.  

Improvement:

• Hit my maxloss today for the first time. I need to reduce the share size, it appears the setup is perfect and so I am going with medium size, and getting hit. 
• $AMD I should have got out early e.g at 9/20 MA cross on the 1min.  
• $CY Didn't check the previous resistence from daily. May be next time do
• I missed the 3 candle setup on $ROKU 2 mins, I also had the level $92.3 and I was planning to go Long if price breaks it (harmonious chart here). I was actually looking at the chart and didn't notice the price crossed this level, Andrew also called $ROKU long and It didn't hit me either. I just didn't notice the levels I put in, after the market opened. I should have. 

P.S - On hindsight, eventhough I saw the double top on $AMD at $28.54, and I didn't take partial or get out, because I was shooting for higher R:R, the price action never crossed this level. Only WICKs touching it. 

Edited May 30, 2019 by IamKarthi
Added P.S

[IamKarthi 342]

31.Mai.19

Not too many on BBT watchlist today. I had $ZUO, $AMD, $SBOT and $FB on my watchlist. $ZUO was ATL, and gapped down, I was looking for Short here. $FB was below 50MA on daily and on the verge of breakdown. $SBOT was lowfloat and gapped up. I like Lowfloat, Low priced stocks (esp around $1) when the setup is for Long. The worst loss that I can incur is $no of shares (1$ price, 100 shares long, the worst case is price hits Zero, and my loss is only $100). That's why I prefer a Long setup on Lowfloat instead of Short. 

$ZUO was bullish at the open, contrary to my expectation. Didn't offer any setup, $AMD was choppy too.

I traded $FB that was setting up for 15min ORBD, I took it short at the breakout (instead of pullback), price consolidated for too long after my entry and I bailed out. I would have gone short again, after the price touched the MAs, but I didn't have another trade left. Price dumped after that to LOD(Low of the day).

Good: 

• my tradesize on $FB was very small, as I decided yesterday, followed my rules on Entry and Exit. 
• Good premarket analysis. I didn't force the trade on $ZUO or $AMD

Improvement:

• Breakout setup needs very extended Stoploss and the RR is mostly 2:1. I would rather stick to my Pullback entry, especially when I decide to risk only small. 
• I missed the 3candle setup on $FB, I was aware $FB and $AAPL offer them mostly, but I missed it on $FB.

[IamKarthi 342]

May Month Summary:

Went thru quite a bit of emotions in the last 2 months. After nailing the first month live (Apr'19), where I had 5 Greendays and 1 Redday, my confidence was so high. I thought I was ready to increase my share size and start making profits rightaway. I am proved TOTALLY wrong by the end of May (my 2nd month) with 9 Reddays and 3 Greendays. I have been humbled by the market. Luckily, I increased my share size only slightly (1.5X) this month, I would have had huge losses if I had gone bigger (5X or even 3X). Also, I am happy that it happened so early in my Trading, otherwise I would have had false hopes. 

Good: 

• Patience, Respecting stoploss, entering into a trade only after validating a proper setup, Trading off L2,  Good premarket analysis & No FOMO or Revenge trading. Analyising R:R and not taking partials too soon (this was my issue to fix at the end of April)

Lessons learnt (thru the mistakes I made this month):

• Avoid Trading a stock which is not on the watchlist totally.
• As I am trading off the Daily timeframe (premarket analysis) the setup may take time to pan out and may not happen immediately at the open. 
• When the Open volume is low, price can be very volatile, wait for the 15 min setup. 
• Observe the chart (don't just see it) for patterns (for e.g 3 candle setup)
• Don't short a stock that is too strong.
• I am slowly drifting away from my usual setups, i need to finalize 3-4 setups and master them.

Another observation is Market traded very differently in May compared to April. Trading is indeed difficult during summer months. I understand that a stock never trades similar to another day, but May has been totally Wicky and offered good setups only in higher timeframe.  My Trade management should adapt to how the market behaves. Attaching below 2 charts of AMD (in April and May) trading at the same price level but completely differently.

 

 

Edited June 1, 2019 by IamKarthi

[IamKarthi 342]

May Month Summary: - 2

My P&L information after May-19.