Vikramaditya Trading Journal - Live 08Apr2019

[Greg D 22]

Vikram, what a great trading day!  So this is what it’s like in a regular market with normal volume.?  I was at seven R and took two more trades and ended my day at five R. 

[IamKarthi 342]

On 10/12/2019 at 2:25 AM, Greg D said:

Vikram, what a great trading day!  So this is what it’s like in a regular market with normal volume.?  I was at seven R and took two more trades and ended my day at five R. 

Great to know you are doing so well  ... Earnings seasons are usually good to trade except for the occasional Market dumps and squeezes which are happening more often these days! 

[IamKarthi 342]

14.Oct.19

Greenday.  +2r. 

Watchlist: $PE, $CRWD, $YNDX, $FAST

Trade 1: $PE. Took Rising devil setup on this. Stock had gapped down due to acquistion news. I took short just above VWAP, 2 portions. One got stopped out above 50MA, other one was above 200MA, that survived the stopout. Partialed at daily levels and got 2r/3r on this. Added after the stock pulled to VWAP, but it was forming Double bottom with big volume. So got out on the next candle. This is similar to my $YNDX trade from Friday. I held longer this time and got out only after the confirmation. my best trade of the day.

Trade 2: $PE. After the ORB trades, I waited for the price to breakout VWAP and took long. L2 had a Seller trying to push the price down, but still stock was strong to go back to 200MA on 1min. I got out last part, after the stock got weaker.

 

 

Trade 3: $OXY. This is from the reversal scanner, after noting double bottom, I took it long got out at VWAP. Then the stock broke out VWAP came back and bounced off VWAP, this is a new setup, so went long again, got out at daily levels. 

Trade 4: $OXY. Noted 2 shooting stars on 30min. Took short, but got stopped out. Stock went back to 20MA before reversing to VWAP again. 

Trade 5: $ROKU. Roku bounced off 200MA on 15min, such a strong support. Took it long for reversal, but got stopped out. 

 

Good: I improved from my $YNDX trading from friday to $PE trade today, both Rising devil setups. This is a common setup for me, Rising devil followed by VWAP pullback short. If I get all out due to Double bottom, then there is an opportunity to go long till VWAP or HOD. atleast 3-4 setups available continously. 

I made a conscious decision not to include $SES in my watchlist today (~1Mn shares flt). Although it created such a ruckus in the room today, I am glad I wasn't even tempted to look at it.  These kind of lowfloats don't deserve my watchlist. 

Improvement:  

• Bounce off MA is not working out recently, may be due to the market conditions. Need to reevaluate if I am going to take this again, may be on certain conditions (for e.g 9/20 already crossed on 1min)
• Made an error on hotkey again. instead of covering I pressed short. 
• I should have stopped after my 3rd losing trade of the day. 

Edited October 14, 2019 by IamKarthi

[Greg D 22]

Some great trades today Vikram!  Like you, I won’t get near stocks like $SES as well as stocks that have greater than 30% short float. So many traders in the chat room choose to take super risky trades and I just don’t want to get burned by playing with fire.  I ended up with a 1R day which is fine with such a low volume day.  

[IamKarthi 342]

15Oct19

Red day. -3r. Today I missed the Rising devil on $PAGS at the open. It is difficult to comprehend how small distractions can mess up trades esp at the open. 

Watchlist: $NVDA, $CGC, $APHA, $PAGS and $ROKU (added later on a news)

Trade 0: $PAGS, the one I didn't take. Few seconds after the open, $PAGS setup for Rising devil, I was going to enter and the alarm went off. That is enough for me to miss the entry and 4 points move. I didn't want to chase it, moved on to $ROKU.

Trade 1: $PAGS. Later, as i noted the stock pulling back to VWAP, took short. After one partial, it formed double bottom and stoped me out. Today was not going to be riding till close. $PAGS receovered later.

Trade 3: $ROKU. After FOMO on $PAGS, i moved to $ROKU. May be I was pushing for a setup, got in early on ORB. stopped out. Long again after the 1min engulfing and breakout, stopped out again. $ROKU takes time to settle down, after the VWAP bounce at 9.51AM it moved 10points till close. 

Trade 4: $PAGS. $PAGS setup for the VWAP bounce TT (the one I missed on $ROKU), Took long and partiled at daily levels and at 200MA 1min. It was also and ABCD after bouncing off VWAP.

 

Good: i didn't chase entry on $PAGS. No revenge trading.

Improvement: I think $ROKU is a FOMO trade. I was pushing for entry, instead of waiting for the setup at the open.

Edited October 16, 2019 by IamKarthi

[IamKarthi 342]

On 10/14/2019 at 11:31 PM, Greg D said:

Some great trades today Vikram!  Like you, I won’t get near stocks like $SES as well as stocks that have greater than 30% short float. So many traders in the chat room choose to take super risky trades and I just don’t want to get burned by playing with fire.  I ended up with a 1R day which is fine with such a low volume day.  

Green is Green. 1R is very good. . Yes, I don't trade lowfloats esp anything less than 10M flt. I do like trading the high Short float stocks, when they gap up and have some positive catalyst. Very long biased on this. 

[IamKarthi 342]

16 & 17 Oct 19

I have been on and off in the chatroom last 2 days due to my other engagements. I think I should be back to normal trading starting next week.

[IamKarthi 342]

21.Oct.19

Green day. +4R. Today I had a better day.  I am going to keep this journal short, as I am travelling. I may not be able to trade the next couple of days. 

Watchlist: $AAPL, $AMD, $HAL, $YNDX.  Last earning season, I did not trade well, partially due to having so many stocks on the watchlist and not watching one particular stock. This time, I made sure, I finalize only 3-4 on the watchlist and observe one at the open. 

Trade1: $AAPL. $AAPL gapped up and at ATH. $SPY also gapped up, I had a key level at 238.2. 

Trade 2: $MU. $MU also gapped up. Had a nice entry at 10.05, that I missed. Later took a long at 20MA (1min) final partial at HOD (also 200MA on 15min and 30min). My trade of the day (due to my poor add in AAPL).

Trade 3: $MU. I also took a reversal on $MU after trade 2 that worked well (under huge resistence in mutiple timeframes). 

Trade 4: $INFY. Took a scalp on $INFY once it bounced off VWAP at 12 Noon.

Good: Whatever setups I took in Real and SIM worked out perfectly (including $AMTD Earnings Play). I was calm and patient today. I am still listening to relaxing music at the open. 

Improvement: couple of them in $AAPL trade. Will try to improve on them.

 

Edited October 25, 2019 by IamKarthi

[IamKarthi 342]

24.Oct.19

Redday. -2r. I was up 2r, traded the earnings and ended up at -2r. I also overtraded a bit.

Watchlist: $EBAY, $TWTR, $AMAT, $TSLA.

Trades : $TWTR. Was down 20%, but I am still looking for reversal setups instead of going with the trend. I took 3 failed reversals, before actually one worked. 

Trades: $MU. Double TOP reversal. AON exit. 

 

Good: 

Improvement: When a stock is trending, I look for reversals. The risk of taking reversal is more than risk of going with the trend. I have a habit of not chasing stocks, so I end up looking for reversals, sometimes too soon.

[IamKarthi 342]

25.Oct.19

Green Day. +4r. 

Watchlist: $INTC, $PCG, $PDD, $MU and $TWTR(2nd day earnings). I really liked my watchlist today. 

Trade 1: $INTC. Missed the Entry due to a distraction at the open. Waited for the 5min ORB, got in and chickened out, because the risk was too high. Entry at 3rd 5min candle would have been better because now the Risk is smaller (low of 2nd 5min candle) . I also traded couple more trades which were green. 

Trade: $PCG. $PCG was on my mainlist. I thought about an entry at 6.46$ premarket before deciding against it. It dropped to 5$ even before the open. Bit of a FOMO here. Anyway, I took short at VWAP pullback, and put a range order. Because I was in another trade on $TWTR, I didn't monitor $PCG and got stopped out. 

Trade:$TWTR. $TWTR was 2nd day Earnings Play. I had a level of $30.5 which was Yesterday''s low. My thought was if it breaks this level, then it was going to dump today. But the consolidation at this level $30.5 was missing so, it didn't move much. $TWTR was on SSR.S and it was difficult to get a fill. 

Trade:$TWTR: Also, Took a reversal off $TWTR (Double bottom) to VWAP, that worked out nicely.

 

Trade:$TWTR: Near the close I saw the Price action pulling to VWAP. Stock looked weaker on 30 and 60mins. Took a small share size and AON exit. It was trade of the day. 

 

Good: I ended my day +ve, despite missing couple of one and done opportunities in $PCG and $TWTR. Also swinged 1 trade of $AMZN from yesterday. Each one of my premarket watchlist played out accordingly to my game plan. will make most out of it next time. 

Improvement: Some repeated small mistakes that I need to eliminate in position sizing and partial. Also missed the doji hammer double bottom for 2nd consecutive day. 

Edited October 26, 2019 by IamKarthi
updated premarket watchlist.

[IamKarthi 342]

28.Oct.19

Green day. +3r. Due to the Daylight savings, I had some issues at the open with the DAS charts. So couldn't take any trades at the open. But after few of mins, all was fine. 

Watchlist: $T, $INTC, $AMD, $SPOT and $WBA, $PDD, $XNET. Liked $SPOT very much.

Trades Premarket: I took Premarket trades on $T and $SPOT. Half share size with smallest risk. was up 0.5r. 

Trade 1: $INTC. 5min ORB. Got in Long after the hammer on 5min and the next candle broke the body and the resistence above. got stopped out. 

 

Trade $T: $T was on earnings and i traded premarket too. ATR is too low, so not much trend. 

 

Trade $SPOT: I liked $SPOT today. Gapped up on Earnings, positive on Rev,Earnings. gapped up arnd 10%. I expected a Trend trade, once it broke the level of 130. Spread was very bad. Took 3 trades.

Trade $XNET: most traded today. I found it to be choppy and wicky. I took a VWAP pullback short. It worked. 

Trade $PCG: traded off higher timeframes, long at low of the candle, sell at high of the candle. 

 

I was up 4r now. I should have stopped. but took few more trades and ended up at 3r and some more commission for IB.

Good: I am looking to lock in profits and cut down the Stoploss, where possible. Lets see how that works out. 

Improvement: Bit of over trading today. 

[IamKarthi 342]

29.Oct.19

 

[IamKarthi 342]

30.Oct.19

Green day, +4r. 

Watchlist: $AMD, $TWTR, $GE & $TUP

Trade 1: $TUP - Rising Devil setup. 

$TUP earnings just before the open. Dumping and setting up for Rising devil. It was Harmonious and at ATL, my A+ setup. Very volatile at the open, but stayed in the trade, trusting the setup. partialed out quickly, as i added twice and had big share size. 

Trade 2: $AMD - Premarket

$AMD earnings yesterday after close. Guidance was bad and so lost 2.5% and gapped down this morning. Took a short premarket and closed it for 1.5r.

• $AMD - was stuck between $32.3 and PCL whole day, I didn't get the breakout from either of these levels. Choppy.
• $TWTR - Another red day for $TWTR. it moved within 25c (29.75 and 30$) whole day. 
• $GE - Traded well, bounced off the level 9.7 and moved 70c (that's a lot for $GE). Was late on the PB-BE setup on the 15min. small risk, big reward.
• $TUP - Glad I stuck to $TUP today, other stocks in my watchlist didn't move as much. 

Good:

• No Overtrading only 2 trades. I am more happy about this than the daily goal today. I was able to stick to my rule about not overtrading.
• on $TUP, trusted the setup although stock was wicky at the open and about to stop me out. Added at the right places. 

Overall I am happy about the trades today. 

Edited November 23, 2019 by IamKarthi

[IamKarthi 342]

31.Oct.19

Red day. -9r. Today, I was not planning to trade, probably that's why I incurred losses, I was underprepared (ie. I had not finalized my watchlist, didn't mute the chatroom, havn't played the music, hadn't started OBS yet).

Watchlist: $FB, $AAPL, $LYFT, $W.

Trade: $W. $W had gapped down 16% on bad earnings and still selling before the open. But it had Short ratio of over 25%, so I thought it may squeeze sometime. 

At the open, $W was strong, but soon sold off, I waited for the pullback after big red engulfing candle, got stopped out. I got better entry close to VWAP, still stopped out. Last one worked fine, but didn't dump as I expected. It formed double bottom and I got out for small profit. 

Trade: $KHC. I had a range order set for profit, I got missed by 4c (for 3r) and stopped out (-1r).

 

Improvement:

• $W had bad spread mostly 5-10c, but sometimes upto 50c. This lead to being in a losing position imm after entering a trade.
• today my share sizing was bad leading to more than my max loss.
• I must stick to Risingdevil or PBBE/3C setup at the open and not trade any other forms in November. These 2 are mostly accurate and my A+ setups.

Overall, I was frustrated today.

Edited November 23, 2019 by IamKarthi

[IamKarthi 342]

BBT Anniversary and October Month  Summary.

Although this is supposed to be a monthly summary, I have also completed my 1 year with BBT, so I want to share my experience overall. (BTW, do the members get anniversary wishes from Andrew/BBT )

First off, thank you @Andrew Aziz and @Brian Pez for putting together such a wonderful community. If joining a Trading community was a trade, I hit a A+ setup by joining BBT. I could have lost my valuable time and money elsewhere, lucky I found BBT. The moderator team is awesome, I sorely miss @Robert H and @WilliamH 2 guys from whom I learnt the most, in this community.

Experience: 

I can split my Trading journey in the last 1 year into 3 phases , and this is something I would recommend to the new traders too. 

1. Simulator - I spent about 6months in Simulator. This was more to get used to the DAS platform, trying out few setups explained in Andrew's book and elsewhere. Get connected to moderators and other members in the community, observe and learn from them. More importantly learn how to do the routine independently and how to Journal and review.

2. Limited Live - It's very easy to be successful in SIM, but fail miserably while trading Live, and lose the capital early in the game. It's important to get a feel of how trading live is and learn to control the emotions. Set goals and stick to them. So, I went live under PDT (only 3 trades allowed in 5days) in Apr'19. That's when I started journalling in this forum. Now, this community is awesome not only because of the moderators but because of the members who are willing to share feedback and be helpful. After I created my trading plan, @Marek Liyanageand couple of other guys proactively reached out to me and passed on their feedback. It's confident boosting, when an experienced trader concurs your plan. 

3. Fully Live - It's very important to know when you are ready to go fully live. For me, I took the Besttrader challenge #1 to evaluate my readiness. I was the winner of DAS besttrader challenge #1 under stock instument. I stuck to my rules and executed my plans almost perfectly for one month. So I went fully live in July'19 after 3 months of limited Live.

Once I lifted PDT in July, I enjoyed the freedom to take unlimited trades. As much as it is thrilling to take trades (and lots of it), sometimes I forget the ultimate goal in Trading is to make money. And if it comes from one trade then I should be happy about it. Based on 1 year experience, I have evaluated what my strong points are and my improvement areas are and how I am planning to address them. For me it helps to write down my plan and publish it in the forum. It's a commitment. I hope it helps someone else too. 

My Strong points:

Trading is the best job in the world. Market is the boss and She treats everyone equal (from a Novice trader to the best minds in the trading world). The harder I work, the more I will get from the Market. 

• I always respect my STOP loss.
• Usually my Entries are very good. I don't chase stocks.
• I don't Average into my losing position
• I stop trading after reaching my Daily goal (or close to it)
• I manage only one trade at a time (unless I have a range order to cover my other trade).
• I don't Revenge trade when I take a loss on a proper setup - I move to next stock immediately to avoid Revenge trading
• I trade 8-9 setups successfully and I can find setups thruout the day. 
• I work on my own Premarket watch list, and hop on to the chatroom to see if any obvious misses. 
• My premarket list and my game plan for each of the stocks is mostly very good and accurate.
• Recently I have started taking more risk on my A+ setup
• I don't follow anyone to enter into a Trade, unless I am convinced of the setup.
• I have started trading off higher timeframes (30/60min) in the last couple of months
• I am learning everyday and I am happy and eager to learn more

If I was to begin my journey again, one thing I would have done differently is to focus more on L2 in Simulator itself. Andrew introduced it, Kurt taught in greater detail about L2 in one of his sessions. That was eye opening. It takes time to learn and trade off L2.

My Improvement areas:

WIP, will include it as working on a detailed list. 

Edited November 15, 2019 by IamKarthi