Vikramaditya Trading Journal - Live 08Apr2019

[IamKarthi 342]

14.Jun.19 - DASTrader - BT

On my watchlist today, I had $INTC, $FB, $MU, $NVDA and from the Lowfloat $ARQL & $FVRR (recent IPO). I was watching $FB (which had gapped up while the market was down) and $ARQL (low price, nice premarket) at the Open. 

Trade1: $FB bounced off all MAs and VWAP, couldn't break down. 1min formed a hammer, and I took it long. Stop was 40c (VWAP), got nice move up, partialed twice. Price was still above Support levels, but suddenly dumped and I got out BE. small profit. May be the 50MA on daily was too strong resistence. 

Trade2: $FVRR, noticed 3 candle setup forming on 2 mins, Took it long on the 4th candle, was above all MAs. was pretty confident about this, but price dumped after $44 and I got out at VWAP. This is recent IPO and there was no resistence above, I guess $44 acts as a strong Even$ Techlevel. 

P.S 

• On hindsight, it is really not a 3c setup, because the 2nd candle has huge top wick on 2min. In the perfect 3c setup the highs of first and second candle are almost the same.
• I guess, this is just 5min ORB. I had a $CSCO or $MSFT trade where I made similar mistake before. When the 2nd 5min is a Shooting star or a Hanging man (with narrow body), the price tends to reverse. 

Trade 3: $CRON - Main Trade. CRON was below 50,20 and 9 MA on the daily. It broke down at the open, I waited for the pullback. Formed 3c setup on the 5min (which is also 15min ORB). I went long 3 positions, didn't give me lot of move, as I chased the entry a bit. I got out around 1R. 

Trades 4: Took a small short in $AMD on the VWAP pullback. $AMD was bearish on the daily (below 9MA), so it helped a bit. I was targeting 20MA, but took AON at 2R. I like this VWAP pullback trades in $AMD.

Almost perfect Trade. 

Entry Price - $30.39, stop - 10c, Target - $30.19 (2R). MFE price - 30.09(3R)

Trade 5: Took another small trade in $CRON for the bounce off of 50MA on 1min (also 20 in 2min and 9 in 5min). I like these MA bounce trades. Risk was only 5c, it gave me 2R, I wanted more, got stopped out at BE. 

Edited June 22, 2019 by IamKarthi

[Rob C 826]

Looks like we took the same trade. But you partialled out way better. Nice hold through the first pull back. That is where I bailed out.

[IamKarthi 342]

39 minutes ago, Rob C said:

Looks like we took the same trade. But you partialled out way better. Nice hold through the first pull back. That is where I bailed out.

Wish it had given us both nice move up, with the entries we had. Well, next time!

[IamKarthi 342]

17.Jun.19 - DASTrader - BT

Today is a Green day. But I am not happy about how I traded today.

Today not too many on the watchlist. I really liked $FB and $NFLX today. $FB had gapped up above 50MA daily and Harmonious. $NFLX formed a double bottom on daily at the 200MA. I thought both will shoot up at the open. Other than these I had $MU, $AMD, $DIS, $CRON and $ARQL.  Nothing too exciting. Was watching $FB and $MU at the open ($NFLX is not in my price range but had nice move today)

Trade 1-$ARQL: No setups at the open, after waiting for 10min I took $ARQL Long, after the indecision doji and next candle pulled back from VWAP (2min). I put in a range order and moved on. Entry $8.5, stop 10c. Price shot up to $8.75, but missed by target by 6c. Then it started grinding down, suddently at 10AM the volume came up and the price shot up. I got filled at $8.73 (I moved my target after the price not being strong) and then 10% portion at $8.95. Price went up till $10, so missed most of the move but still got 2:1 RR. I was frustrated that I didn't notice the 3C setup on the 15mins, so I exited where I should have entered. But that's how the Range order works, on another day, the stock could have dropped and I would have been saved. 

Almost perfect Trade: Fallen Angel + 3C setup

Entry - $8.5, Stop - 20c, Profit - 2RR, MFE - 6RR. Very difficult to catch the move. 

Trade 2 - $FB: Next I took $FB long after the price broke HOD, I put the wrong size, so order was not executed, by the time I corrected I am chasing the entry, so got out immediately. Which is fine, very small loss. But the price again bounced off 9MA and i went Long (FOMO). I had 70c stop and targetting 2:1 RR. Got stopped out. I could have entered at VWAP, but I decided to let it go. 2nd trade was a bad trade. I should have waited for the pullback and shouldn't have chased due to FOMO. 

Good: I exited the trade, the moment I realized I was chasing for a small loss, could have been a big loss. I am trading only setups, not scalping on momentum. 

Improvement:

• Felt FOMO today on $FB only because I felt $FB had the best chance today. But then there is always another stock and another trade. 
• Could have traded $NFLX with a small size. 

Edited June 22, 2019 by IamKarthi

[IamKarthi 342]

18.Jun.19 - DASTrader - BT

I was watching Premarket and $BYND was ripping. At price $189 I thought price will definitely touch $200. And it did within 15min. But stick to my rules of not trading in the premarket. Did not chase $BYND at the open. Proud of that.

I had $SNAP, $TIGR, $AMD, $MU and $FB on the watchlist.

Trade 1: $TIGR Looked strong daily above 20ma. Took the conventional 1min ORB Long at the open. Price didn't move much. I got out and price dumped immediately. Good read. I can't flip my position quickly, so just let it go, price dumped 60c. 

 

Trade 2,3&4: $SNAP. Daily looked strong. Opened very strong, I went long at the VWAP pullback, was so confident about this setup, I didn't set any Stoploss. 1min chopped a bit and I got out (before my stop, if there was one). Again twice got in and out due to 1min chop. Finally the price took off without me for a 70c move. 

Entry - $14.33, stop - 15c, Exit - 1R, MFE price - 4RR

 

Trade 5: $NVDA. Took $NVDA as it bounced off all MAs and VWAP on 1min (Harmonious setup). Took it long. Took an early partial (may be due to 4 failed trades), then let it ride till 5RR (at HOD). It is also 10min ORB. 

 

Trade 6: $NFLX. I liked $NFLX for long today (& yesterday). Took it long at break of HOD, got stopped out. 

Trade 7,8,9&10:$MU. I called out $MU at the premarket. It formed a double bottom on Daily and was looking to go up. I missed the open. it was similar to $NVDA above. I waited for the pullback to MA, before taking Long for Trend trading. I took long, once again, didn't define my Stoploss, got out. Happened 3 times, before finally the price shot up on the 4th trade.  I put in a range order fpr 20% sharesize, price didn't go to my target, I got stopped out (my target was too high). 

 

Good: No premarket trading, Respect my rules. Pround of my 2 Green trades on $NVDA and $MU, despite having a rough day today. 

Improvement:

• Had very high FOMO at the open, probably impacted my trading a lot today.
• No stoploss - I have read about the exact same thing in Tradinginthezone. I was so confident about my trading and the setup being right, I just forgot to put a stoploss. 
• I could have traded the usual stocks $MU, $AMD, $FB and had good moves too. But I was looking for a lowpriced stock, hence took $SNAP and $TIGR. Conventional ORBs are not working. 
• Bit of Overtrading today(may be Revenge trading too on $MU), when things don't go well, this happens. But stopped at noon and didn't trade again. 

Edited June 22, 2019 by IamKarthi

[Rob C 826]

Your NVDA trade was amazing and your final exit was right on the mark.

[IamKarthi 342]

19.Jun.19 - DASTrader - BT

Green Day. I had $MU, $FB, $TSLA, $MSFT and LF/LP $MLNT & CHWY on the watchlist.

Trade1: $MU. MU was strong on the daily coming from double bottom, I thought. At the open price dumped, I took 5min ORB under PCL. I was not comfortable to take an entry so far below the VWAP and MAs. I got out. Price dropped to 2R and bounced back.

Entry - $34.16, Stop - 13c ($34.29-PCL), Exit - $34.2. Price reached 2R before bouncing back. 

 

Trade2: $MLNT.  Almost Perfect Trade. Main trade. $MLNT is a Lowfloat stock (<20Mn flt), it had +ve results and so gapped up premarket. At the open price fell down. Slowly came up above the MAs with volume, and I took long once the price opened above MAs/VWAP. Huge candle and I partialed completely. Stock was halted after that. Fallen Angel setup. Worked for me everytime, A++ Setup.

Entry - $4.34, Stop - 30c, MFE price - 4RR, although it is difficult with the volatality of the stock. 

Good: On $MU, I thought the Entry was extended, so got out immediately, which is fine. Nice Entry on $MLNT for the fallen angel setup. No more trades. Learnt that one such good trade is enough to meet weekly target, so cut your losses. 

Improvement: $MU, take a moment to think before entering, sometimes even exiting imm may cause big loss due to slippage/spread. 

Edited June 22, 2019 by IamKarthi

[IamKarthi 342]

20.Jun.19 - DASTrader - BT

Green Day. I had $MU, $INTC, $ROKU, $AMD and $CRON on the watchlist. Also $ARQL which formed Tripletop on Daily at $10. 

Trade1: $CRON. Looked strong on Daily above all the MAs. I thought it was going to pop at the Open. After the candle with good volume pushed thru all the MAs and VWAP, waited for the candle to open above Support and entered. Volume was really low on $CRON (<1M) so the spread and slippage was very bad and bit volatile too. After my Entry, price consolidated, I felt my entry was too far away from VWAP(15c) and so got out. The Doji on the 6th candle also worried me. I knew better entry would come. 

Trade2: $CRON. Price came close the VWAP and I went Long again. This time my entry was close to VWAP (which was my Stoploss 8c) so I was comfortable. This is just my strategy and I am comfortable playing this, not sure if this is entirely recommended. Although i had some loss in the first trade, I had good move on the 2nd one. Took 80% out at 2RR, then put range order for 3RR and 5RR. Since it was harmonious thought $CRON would move $1.50, but it reversed and I got stopped out for a small profit on final one. This is also 3C setup on 5min and a confirmation for 15min ORB. 

Almost Perfect Trade

Entry - $16.32, Stop - 8c, Exit - 2R, MFE price - 6RR

 

Trade3: $MU. Thought $MU was strong on Daily above 20MA. But it dumped at the open almost one $. Pulled back to VWAP, I went Short, price turned against me and I got out. I had an opinion that $MU was going to pull up anytime above VWAP, so got out quickly. After my stop price went up 1c more and then continued to drop. I could have reduced my share size, which would have probably allowed me to continue in that trade. 

 

Good:

• I hardly had any sleep last night, but managed to Trade ok today.
• Got out after realizing my Entry wasn't ideal in $CRON and the Price action was not strong immediately.
• Realized the average volume at the open for $CRON and adapted to it. 

Improvement:

• Should have reduced my share size on $MU, which would have allowed me to continue on that trade, would have given me 60c move.
• After the first 90mins after the open, I am not willing to take any trade whatsoever. I need to see if this will workout long term, May be time to practice one of the Reversals too. 

 

Edited June 22, 2019 by IamKarthi

[IamKarthi 342]

21.Jun.19 - Live Trade 

GreenDay - Almost Perfect Trade. Today's watchlist wasn't very good, Summer Friday. $CGC, $AMD, $MU and $KMX. I was not keen on trading Live today. $CGC had earnings and gaped down (HARMONIOUS). At the open was going up till YY Low. Then it starts dropping. Lot of Support levels, but one red candle blew thru them. I took Short once the next 1min candle opened below MAs. It also formed 10min ORB. Volume wasn't great so price moved slowly. I took just one exit, no partials at 3RR. I am planning to calculate how far the price moves beyond my target/exit under MFE price. Today it reached upto 4.5RR. 

Good: When Opportunity came up, I jumped in. I know I am only going to risk my predefined amount. Working on BT trades has helped me calm down nerves. I liked my exit, as there was no clear single target level (like MA). 

Improvement: I am happy about the 3RR, I am not trying to squeeze every penny out of the setup. Will revisit the exit strategy if I keep missing major moves on these Harmonious setups. 

Edited June 21, 2019 by IamKarthi
Included 10min chart.

[IamKarthi 342]

21.Jun.19 - DASTrader - BT

Red Day. Today's watchlist wasn't very good, Summer Friday. $CGC, $AMD, $MU and $KMX. LF/LP $CLDR.

After a very good Live trade, switched to SIM. Took 4 trades, all failed. Hit maxloss today.

Trade 1: $CGC appeared to provide  the LOD breakout setup and took the trade. it failed.

 

Trade 2: $MSFT. Took breakout of HOD, it moved 1R and stopped me out. Correct setup, wrong timing.

 

Trade 3: $CCL. Took another LOD breakout, another failed trade. Wrong timing. Reduced sharesize. 

 

Trade 4:$CRON. Took short below VWAP. But it was VWAP false breakout. Got stopped out. Reduced sharesize. 

 

Good: After two losses, reduced share sizes and played really small. So although 4 losing trades, it was within my max loss perday.

Improvement: I need to finish my trading before 10.30AM, after that my success rate is really small. I need to reduce my sharesize, if I am trading after 10.30 (even if it is first trade)

Edited June 21, 2019 by IamKarthi

[IamKarthi 342]

24.Jun.19 - DASTrader - BT

Red Day. After a sequence of 11 Green days, I expected some red days to come. Just wanted to not blow up the losses. So today I hit 1$ over my max loss.

Today's watchlist was not good at all. I had $FB, $CZR, $ROKU and $CCL apart from the usual $AMD, $MU. Watching $FB and $CZR at the open. $CZR is lowpriced high float stock, I love these. $FB was really active premarket. Both were choppy at the open.

Trade 1&2: $ROKU, $ROKU was below the 9MA on daily, I called this out in the room that it may come down to 20MA. I had a Short bias. So the moment $ROKU pulled up and then slowly (volume was not great) pushed all the MAs and VWAP down, I took  short. I was may be a bit late, and the spread and slippage was not good. I expected the price to dump, but it pulled back all the way to 200MA (1min) and I got stopped out (Stop PCL). After stopping me to the penny, the price dumped. I took short again,  stopped out, as the price moved up. 

• Entry 1 - $102.1, Exit - $102.66 (after dropping 1$ 2R) 1min had 2 long lower wicks, still din't get out, Poor mistake.
• Entry 2 - $102.2, Exit - $102.45 5min had 3 wicks and an inside candle, still din't get out, Poor mistake

Trade 3&4: $ROKU. After my 2 losses, I went in Short again (didn't want to miss my A++ setup). but I didn't partial out, I wanted more. Got stopped out at BE again. Now I am thinking I should go long as the price crossed VWAP. I realized it was a mistake and got out BE. Now because of my 4 trades in $ROKU, i stopped trading and moved out of my PC and now the Price dropped to 7R with HUGE volume. Well Atleast I was right about my Premarket analysis.

• Entry 3 - $102.24. Exit - stopped out BE (after dropping $1 2R)
• Entry 4 - $102.27, Stopped out realizing it was not Long (5c move)

 

Trade 5: $CCL. Although, $CCL had gaped down premarket, it opened strong, Once price came back up after crossing all the MAs I took Long, but got stopped out. Stock was choppy and din't trade cleanly. It was not my Setup.

 

Trade 6: $CZR.  Almost Perfect Trade. $CZR was my third trade after $ROKU and $CCL.  $CCR is Low priced highfloat stock. it formed the Fallen Angel setup and I took it long, put in a Range order,  later I added to it and sold All. Fallen Angel is my A++ setup along with William's Harmonious chart setup. I should have gone full size on this, but I took only 10% of my regular size on a Winner.  

 

Trade 7: $MU. This is A+ setup. $MU formed the Double bottom hammer just above VWAP on 5min. I went Long full size. I didn't get filled on my Range order. Unfortunately, I couldn't exit immediately and lost out on more than half profit.

 

Trade 8&9: $FB. $FB was very strong premarket, was looking to popup close to $200, but the open was choppy. After 10.15, price moved up above MAs and i took it Long, with a target of $194. Got stopped out by range order, then price moved up to my target. Later, noticed double bottom at the level $192.62, so went Long, after first partial, price turned and I stopped out BE. 

• Entry 1: $192.94, Target -$194 (4R), Exit - $192.7. After stopping me Price moved to $194. 
• Entry 2: $193.18, stop - 20c, First partial - $193.5 (1.5RR) Rest BE. 

Good:

• Irrespective of 4 trades in $ROKU ending up with losses or BE, atleast i was right about my Premarket analysis.
• I didn't take 2R profit on 2 occasions, as these are setups that offer atleast 3R. It will work in the long run. 
• Today was a choppy day for market. Recognized that and din't trade beyond my max stoploss. Sometimes, there is nothing you can do.

Improvement: 

• I made the mistake last week of going into a A++ setup confidently without setting stoploss, today, I avoided this mistake, but My stoploss was not wide enough. If I had given $ROKU 60c instead of 55c stop, I would have had 7RR (3.5$) move. This had happened to me on $PINS before. It is frustrating and I keep trading again, knowing that this is my trade and I don't want to miss it. What could have been a one and done day, turned into maxloss day.
• When I am in a setup, I like it to go my way immediately or just a minor pullback. If it turns more, even not to my stoploss, I am getting out. Something I need to work on. 
• I made some trades based on the Price action and Pattern, No specific setups. This doesn't have high Win probability. No edge here. 
• When the A++ setup appears, always go with fullsize without any bias. For E.g (Fallen Angel, William's Harmonious setup, Doublebottom Hammer etc.,)

Edited June 26, 2019 by IamKarthi

[IamKarthi 342]

25.Jun.19 - DASTrader - BT

Red Day. Today I was not in the right mental state, Tired, upset. 

I had $CRON, $AAPL, $NFLX and the usual suspects $AMD, $MU on the watchlist. 

• $CRON - formed double hammer on daily, looking to pop
• $AAPL - A Hanging man followed by 2 shooting stars on the daily - indicating Bearish trend to come ($AAPL did drop a lot)
• $NFLX - A perfect shooting star on the daily indicating Bearish trend (although price range is not in my comfort - dropped a lot)

Trade1&2: $CRON. Had lesser volume and moved slowly. Ì was waiting till 8th min, when the price poped above VWAP and all MAs, I took Long. There was still 50MA and YY levels, but I took it long as the volume increased. My mistake was I went full share size. When the volume is low and the action is slow/volatile, I should not take full size. Nevertheless, i got stopped out for big loss. I went Long again at 10AM, after the bounce off VWAP, got stopped out again. Very bad trade. 

 

Trade 3: $MU. Took $MU short below 200MA on 1min, it was also below many MA levels. But I got stopped out. $MU was strong at the open until 11, before it reversed. May be it was a Long, as a bounce off 200MA(1min). I missed the 3c setup on 1min. I was watching it when it happened, but the move was so fast, I couldn't press my hotkey fast enough. 

 

Trade 4&5: $AMD. 5min 3C setup (although I didn't like the top wicks on the 2 candles). I took Long at the break of top, Price moved 1R, then dumped as the SPY was dumping too. I was done for the day, I just took another micro size $AMD trade for the break of MA to test tradesetup. The moment the inside candle appears on 15min near the resistence, I should have got out. Note the reduced volume too on the inside candle and the long upper wick. 

Good: 

I learnt couple of things from trading this week. Even Best of stocks with best daily setups can chop you out.. In these market conditions, always reduce your share size and look to get 1R/2R instead of 4R/5Rs. Happy that learnt this on SIM and not with real money. 

Improvement:

Market was too choppy today at the Open (i trade only the open). And most of the stocks traded with SPY today. Very difficult to find pattern. Need to learn to trade all market conditions. Today High RR setups didn't work, ($AMD today, $FB yesterday and $MSFT on Friday) should have switched to High Win-loss setups. That would have worked. 

I seem to be shorting stock into a support or Longing into a resistence for the last 3 days ( today $MU, Yesterday $ROKU and on Friday $CRON). Need to be watchful of this mistake.  

Edited June 26, 2019 by IamKarthi

[IamKarthi 342]

26.Jun.19 - DASTrader - BT

Small Red day. May be by the nature of probabiliy, the Green sequence is ending and Red is on. Or simply I am just unable to trade this chopfest. There are no opportunities for Fallen angel, or William's Harmonious charts or 3C setup appearing at the open. I don't trade much after open, so its not good week for me. Good thing, I reduced my sharesize as planned today, so not much harm done. 

Watchlist: I had $MU (earnings)$AMD, $ROKU, $GIS on the watchlist. Nothing Excellent. 

Trade1&2: $AMD I noted the 3C setup on 1min. Although I din't like the long downwick on the 2nd candle,went long at the break, I took one partial and then stopped out. I could have got out earlier, seeing the inside candle and 2 long upper wicks on 2min. For Trade 2) After my exit, price clearly bounced off VWAP twice and I took long, got stopped out again. 

 

Trade 3: $AMD , Price hit the $30.4 level multiple times and bouncing off on 5min, Took short below VWAP (VWAP breakout) and exited at 50 on 2min. Very small share size. 

 

Trade 4: $AAPL opened very strong went upto $201 level, came down to VWAP and bounced off VWAP, I took it long to HOD. Range order stoped me out. Again small size saved me. 

 

Trade that I didn't Take: $ROKU. I had a specific improvement plan not to long just above the resistence/short just below the support even with high volume as the price was turning against me immedaitely. I almost took one such trade in $ROKU today, but avoided trading it.  

 

Good: I followed my Plan today. I reduced my share size. And took some partials. 

Improvement: I could have shorted $ROKU instead, but I didn't take it. I noticed $AMD made 2 long upper wicks and created an inside candle, I should have stopped out earlier on Trade 1. 

 

 

Edited June 26, 2019 by IamKarthi

[IamKarthi 342]

27.Jun.19 - DASTrader - BT

 Small Green day. I have already decided to trade small today, at the Open my mouse was not responding properly too. So just one trade and done. Some days, I just need small green to change the Trend. 

Watchlist: I had $NVDA, $ROKU, $QD also $AMD and $MU. Later $WBA.

Trade 1: $WBA. In the room Andrew called out $WBA during premarket, I liked the daily, so I included that too. Today I was specifically looking for 3C pullback ORB setup. Only $WBA was setting up for that. I took it at the break, volume was still not so great. I exited, no partial, it didn't move much. Found my wireless mouse not responding so I was done for the day. Also noted $CRON setting for the 3c pullback ORB on 5min. I didn't take it because the trade volume was less than 1M at that time. 

Good: Traded as per plan, small size. Stopped after realizing hardware is not working. 

 

Edited June 27, 2019 by IamKarthi

[IamKarthi 342]

27.Jun.19 - DASTrader - BT

Another small Green day. I couldn't spend lot of time at Premarket. Watchlist: $NVDA, $MU, $AAPL ,$AMD and later $SQ.

Trade 1: $SQ. SQ was settingup for the 3c setup on 2min, I took long at the breakout. But it failed me. This setup has high accuracy for me, except this month it failed twice. I also failed to notice the shooting star on 1min. would have got out earlier. 

 

Trade 2: $AAPL I was really interested in $AAPL today, because it had a shooting star on the daily. I was very short biased. Price opened higher hit 200MA on 5min and dumped (forming 5min shooting star). I missed all this because I was on $SQ trade. Nevertheless, I waited for the price to break down below 200MA (2min) and went Short. It was also 15min ORBD. My target was YY-low (at $197.33), but I exited sooner, as I had to leave. Price went till 197.1 and reversed. Missed most of the move. 

• Entry - $198.19
• Stop - 15c (above 200MA 2min)
• Target - $197.33
• Exit - $197.75 (3R)
• MFE price - $197.1 (7R)

I took another small trade on $AAPL towards the close to test Short below MA. Very small share size. 

 

Improvement:

• Manytimes, I noticed that after I am stopped out, price provides excellent opportuntiy to flip (like $SQ today). I am not a flipper, but need to try this. 
• Left money on the table on $AAPL. 

Today is the last day of the challenge. I will publish the results and analysis next week. 

Edited June 28, 2019 by IamKarthi