Vikramaditya Trading Journal - Live 08Apr2019

[IamKarthi 342]

Weekly summary for week starting 02-Dec-19.

When I went live initially, I started trading based on candle sticks (hammer, shooting star, hanging man etc.,) and then moved to chart patterns (3Bar play, Double bottom/top, ABCD, MA bounce, Reversals etc.,). I had a time constraint which meant, I could trade only an hour after the open. Starting this month, I am able to spend more time at the open. I am trying out some new strategies, which will give more RRs. I am also looking to take setups that run longer (Today, I close positions within few mins most of the time). If this doesn't fit my personality, I go back to my old setups, with all the key lessons learnt. The first year of Trading should be all about learning and that is what I am trying to do (incremental learning after more experience). I hope it builds a system that can withstand all market conditions.

Red week. -6r. I could spend only few hours last week trading and was not able to post my journal. Hence posting a weekly summary sharing couple of key trades from last week.

Trade1: $APA. Long after a resistence turned into a support. Entry after hammer on 2min. Price didn't move as expected got out BE.

 

Trade2: $ROKU. 3 Bar play on 2min.

 

Trade 3: $AMD. Losing trade due to my Confirmation Bias on $AMD. There was no catlyst for $AMD that day (7Dec19). 

 

Trade4: $ACAD. HOD breakout trade. I predicted the setup and entered instead of waiting for confirmation (breakout, pullback, retest, strongly claim the level). I watched the trade film after that and added more comments.

 

Trade5: $ESTC. Very interesting trade. Why is it important to watch the trade recording. The setup was perfect for short, but L2 had a Held Bid and stocked popped up to stop me out. This I noted after watching the Film of this trade later.

 

 

Trade6: $ESTC. This time, there was a Held Ask, but it lifted and the price jumed 50c immediately. 

 

Good: Many of my trades had moved atleast 1.5-2r before stopping me out, this is because I am looking for larger moves. I have also watched L2 and prints closely. I want to be in a position to give a trade commentary as the price action unfolds. 

Improvement: Predicting the setup instead of waiting and Additions (when confirmation is not there).

Overall happy with my week, despite down by -6r for the week, due to all the learnings. I am sure I will eventually turn profitable this month too. 

Edited December 9, 2019 by IamKarthi

[IamKarthi 342]

On 12/3/2019 at 6:26 AM, Carlos M. said:

21R!!!!!

That is amazing great job man. 

Keep up the progress and the amazing work of detail tracking to find areas of improves. As  with Mike B., I am looking forward to these journals next year and see the progress continue to climb!

Great job man!

Thanks man, appreciate it. 

Edited December 9, 2019 by IamKarthi

[IamKarthi 342]

9.Dec.19

+1.5r. Green day. 

Watchlist: $CGC, $BIG, $M, $PCG

Trade1: $CGC. $CGC had gapped up on news of new CEO. $19.8 is a daily level and also had 50MA at this level, I was hoping to catch long above this. When the stock opened volume was almsot nil. Then it flew past this level, so I missed my entry. Stock was topping a bit at 20.6, I wanted to scalp short to VWAP. Took it , but it didn't drop immediately, so I got out (I would have had my 2r). But I stick to my rules.

Trade2: $CGC. Took long after the 5min candle bounced off VWAP (at $20) and formed a hammer doji. Added above the level 20.6 and got out at HOD. 

 

Good: liked my $CGC trades. Happy with my add on $CGC. 

Overall satisfied with the day. 

[IamKarthi 342]

10.Dec.19

No trades today. I was watching $CGC and $SFIX. I was long biased on these for multiple reasons. Both played out weaker at the open. I wanted to take $CGC for a short, but no shorts available at IB. So no Trades.

[IamKarthi 342]

11.Dec.19

Due to travel plans, I may not be able to trade rest of this month. Stay Green!! . 

 

Had a hotkey mistake that cost me -10r loss on a 3bar play setup, so stopped trading in Dec and calling it a wrap for the year 2019.

Edited January 3, 2020 by IamKarthi

[IamKarthi 342]

Year 2020.

Wish everyone a successful and a Green year 2020. I am looking to further improve my trading by being selective of the setups I take and sticking to rules (which I don't have any problems lately). Hotkey mistake is something I am addressing to eliminate this year, I may move to streamdeck after couple of months. I am also looking to improve my patience so I get stopped out if my setup doesn't workout and I let the winners run. 

Otherwise, the improvement plan I captured 2 months back still remains valid for 2020.

 

[IamKarthi 342]

02.Jan.19

1.5R. Green day. I didn't do the premarket preparation today, due to watching my kid who is on school holidays.

Caught $WDC later in the afternoon above a Pivot and took 1.5R to the close. 

Missed opportunity: $AMD setup beautifully with a Harmionious setup near ATH and strong catalyst. 5min had 3Bar play, could have rode this atleast for 3 to 4R. 

am looking for continuation play, but the Iran news will likely kill the momentum of Market overall. 

[IamKarthi 342]

03.Jan.19

-2R. One good trade on $LB, got stopped out twice on $OXY. 

Watchlist: $LB, $LW, $OXY

Trade1: $LB. HTook $LB long on 3Bar play. Got wicked out. Once the price came back to my original entry, I Long again (One of my rules, if I get wicked out, but the setup is still valid, I reenter again).

Added a bit at the break of 18.5. Took one partial at 18.7 (only the add and was still holding my core position). I should have added after the hammer at 10.30AM, missed a crucial add. 

Partialed 50% at 18.95, added after the price bounced off 18.75. But price din't pop, so took this out. 

Another add after the break of 18.95, once it failed to break 19 for 15mins, got all out.

 

Good: This is different from how I trade candlesticks or chart patterns to make 2R trades. Here I find an entry observe the price action and make add/exits at the right places and hold it as long as the setup is Valid. 

Improvement: Improve on Add and partials. Because my reentry had wider stop, position was small got me 2.5R. I shouldn't have missed the opportunity to add.

Overall very happy with my trade on $LB, I want to make more trades like this, this month.

[Glenn Budde 356]

I miss adds all the time ... they are difficult to do for me as I am always thinking if I add here and it turns against me I am giving money away.......

I am finding it easier now that I have been working on reading T&S.....

[IamKarthi 342]

On 1/10/2020 at 1:42 AM, Glenn Budde said:

I miss adds all the time ... they are difficult to do for me as I am always thinking if I add here and it turns against me I am giving money away.......

I am finding it easier now that I have been working on reading T&S.....

While watching the film recording after that, I realized I was away from my system when this opportunity came. I was picking up my daughter from school. Felt a lot better, because this was shouting Add. 

[Glenn Budde 356]

8 hours ago, IamKarthi said:

While watching the film recording after that, I realized I was away from my system when this opportunity came. I was picking up my daughter from school. Felt a lot better, because this was shouting Add. 

It always seems that when I step away something great happens ... LOL .....

Have a great day...

[IamKarthi 342]

On 1/11/2020 at 11:43 PM, Glenn Budde said:

It always seems that when I step away something great happens ... LOL .....

Have a great day...

Oh, You can't be more right! LOL.. There is always action, when I am not around. 

[onlyjava 12]

On 4/29/2019 at 6:30 AM, IamKarthi said:

 

These are the books I read before going Live, apart from the BBT classes. It was very important for me to learn as much before going Live. Also, I read these books in the order mentioned below. I also listened to the Youtube audio version of Trading in the zone, the week before going Live and I must say that it helped calm my nerves a bit during the Live week.

-How to Day Trade for a Living by Andrew Aziz

- A Complete Guide to Volume Price Analysis by Anna Coulling

- Advanced Techniques in Day Trading by Andrew Aziz

-Trading in the zone by Mark Douglas

-The 1 Hour Trade by Brian Anderson

 

@IamKarthi - Thank you for sharing details about your trading journey.  You have definitely enriched the BBT Community with your postings. Looking forward to hearing more from you.

I am especially impressed with your selection of trading related books - I bought all of them

[IamKarthi 342]

On 3/29/2020 at 7:29 PM, onlyjava said:

@IamKarthi - Thank you for sharing details about your trading journey.  You have definitely enriched the BBT Community with your postings. Looking forward to hearing more from you.

I am especially impressed with your selection of trading related books - I bought all of them

@onlyjava Thanks for the nice comments! Below are couple of books, I hv found very useful too as I grew as a trader.

Trading Tools & Tactics  by Greg Capra

The Art and Science of Technical analysis by Adam Grimes.