Glenn Budde 356 Posted December 30, 2019 12-30-19 AIS 0810, 4.5 hours. 4/10 Feeling a bit jittery ..... PAT: No FOMO, Spread, A or better Notes: Work on monitoring the price action when in the trade for a partial and exits, pay attention to the larger time frames.... Add Risk to the perfect A+ setups..... Yowza..... I went stupid for the day...... I did not stick to any rules... Went complete revenge..... lost a ton.... this was defiantly a hulk day... Chart is just a complete christmas tree ..... I thought I was down a bunch and when I finally decided to check my P&L I lost more than double than what I thought..... I can not even believe I did this..... after the first two trades I am supposed to walk away.... Traded a low priced stock that is not in my range.... well this is one way to loose everything for the month and more..... Cons:everything Pros: none Playbook Trade:none Notes:none Rs: -20R let me get the hell out of here before I do something stupid.... 1 Share this post Link to post Share on other sites
Mike B 623 Posted December 31, 2019 Here is a great video on this exact issue. Remember, every bad trading day is an opportunity to learn and grow Share this post Link to post Share on other sites
Glenn Budde 356 Posted December 31, 2019 12-31-19 AIS 0800, 4.5 hours, 6/10 This will be a short day as I have to be at work early... PAT: RULES!!!!! Notes: Get out after two loosing trades in a row.... No more than 3 trades before 1100.... Stay away from stocks below 5.00 and caution with under 10.00...... Done for the day RAD two trades first one stopped out and second one I took a partial way too early and out at BE as I feel like I am trading scared... also my entries were late again as I was trading scared...... I will call it a day and take my loss -1.6R Cons: Trading scared for the day Pros: respected my stops Playbook Trade: none Notes: If I am feeling like I may be trading scared tomorrow I will walk away and come back later Rs: -1.6 1 Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 1, 2020 On 12/30/2019 at 9:17 PM, Mike B said: Here is a great video on this exact issue. Remember, every bad trading day is an opportunity to learn and grow Thanks Mike.... I will watch this, this weekend..... Share this post Link to post Share on other sites
NAVEEN 5 Posted January 1, 2020 hi Glenn - I am looking at your RAD trade and want to offer a quick thought. Have you considered trading on 5 minute ORB? In the hindsight, this seems to be perfect 5 minute ORB setup. First 5 minute candle body high at 15.08, so that can be entry with a stop at 14.88 (risk of 20 cents) and take profits at previous day high at 15.48 (potential reward of 40 cents). I am not familiar with your background but I am a month into my simulation and find it easier to test 5 min ORB strategies than 1 min ORB strategies. I'd be interested to hear your thoughts on this and learn. Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 2, 2020 21 hours ago, NAVEEN said: I'd be interested to hear your thoughts on this and learn. Ill keep this not so long..... I was trading at a very low level because of the HULK day I had on Monday and I knew this..... my entries were terrible..... An entry on the 7min candle would have been a nice 5min ORB but I would have played it as a VWAP Play with the confirmation of the 5min ORB for a B+ setup and in saying this I would not have taken it as I am only taking A or better setups for me. In order for this to be an A setup I would like to see another confirmation like an ABCD on the 1 or 2min....... Maybe if I would have taken it there I would have entered with 1/2 size and scaled in on a new entry..... Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 2, 2020 (edited) 1-2-20 AIS 0805, 3.5 hours, 6/10 PAT: Setup Grade... How I feel... Notes: Trade the trade not P&L...... Walk away if I am feeling antsy..... AMD 3 trades PB#1.1 pre 5min .... Took this on pure momentum... L2 exploded with large ASKs in a ladder for a quick scalp... took a 25% partial when it the ASKs ran out of steam and moved stop to BE.... PB#3 ... looking for a trend of the 9ema .... made a nice ABCD and a bounce off the 9ema on the 1min with a pull back on the 10min ORB and L2 started to stack but it was a little bit away.. my stop was the 50ma and ultimate goal for all of these plays is 48.00 (this had a price target boost from 40.00 to 58.00).... stopped early with L2 BIDs taking over and Ticker falling rapidly ..... unfortunately the BIDs were short lived and it made the move I thought is was making... I may have been able to hold it through my stop with T&S info but I will never know..... This trade was bad Trade Management ...... PB#3 ..... another ABCD trending above the 9ema on both the 1 and 2min.... I missed a partial at .88 as I was feeling greedy (ticker was telling me to take a partial here)..... took most off when it came back to my BE to reduce risk.... it never reached my stop and ran without me watching it... added in on FOMO and took it back off and regretted it so I reentered, YOWZA this is bad management but I am still recovering from my HULK day.... this went where I thought it would and it followed what I had planned from the beginning... this was just bad Management.... First two trades was a wash and the second was a small profit.... MU PB#1... 5min ORB with ABCD on 1min and bounce off the 20ema for confirmation..... took a 25% and a 10% partial looking for a much bigger move but stopped at BE.... Cons: Took my eyes off of AMD and missed the big move.... but should have managed my 2nd trade better.... Pros: Did call AMD right from the beginning... Playbook Trade: None Notes: Terrible trade management.... need to get my head out of my A$% ....... Rs: +2 Edited January 2, 2020 by Glenn Budde 1 Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 3, 2020 1-3-20 AIS 0805, 7 hours, 5/10 PAT: Setup Grade ... Trade Management Notes: Have my If, Then ready for my main watch list... LB PB#1.1 PB#3 ... got chopped up on this and was trading the open bad.... in the last few days I have been trading the open poorly and this was no exception.... -1R JD PB#3 .... first entry was break of the 9ema with momentum in the price action..... There was negative news on Manufacturing and SPY and all stocks were plummeting and this was my Reason2Exit.... the second trade I reentered at the same level with a stop below VWAP... all partials and Adds were from price action..... the Adds at 12.20 , 12.25 and 12.35 were all taken from price action also but in hind sight these were added on a stock that was already extended and I should have just taken a partial at .50 instead making myself money instead of adding in till I got stopped out at BE for the Adds.... there were several spots bfore these that I should have added on... +3.5R Cons: Took pre 5min trades and have been trading bad in this time frame.... End of my JD trade was bad with the add in on an extended move... Pros: did take small size in the beginning of the day..... Very happy with the overall trade on JD ... Playbook Trade: JD Notes: Will take out pre 5min trades from the Playbook for awhile.... Rs: +2.5 1 Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 4, 2020 (edited) 12-30-19 to 1-3-20 What I did bad this week: Had a HULK day and broke all my rules resulting in over a -20R trade Traded scared for the rest of the week recovering from my HULK day Took my eyes off of one of my main stocks in play and missed one of my setups Pre-5Min trades are something to work on in the future and are to be taken out of my Playbook for the time being What I did good this week: By the end of the week I am feeling mostly recovered Respected my Stops after Monday 2 of my pre-market plans (IF/Thens) panned out perfectly Changes to be made this upcoming week: None Rules to stick by this upcoming Week: After I call it a day by either MAX Loss, Profit Target or what I am comfortable with, only use the rest of the day for Chat, Journal, Playbook ect. In-Trade and Daily Stops Do Not chase or revenge trade Challenges for myself this upcoming Week: No pre 5min trading Only A or better setups at time of trade No Voice Chat before 1000 Take a planned break at 1100 for other Bus. @ 0915 do some exercise and then meditate to calm myself Stay unbiased Notes: Rules are not to be broken, these will cost money every time My Challenges are almost as important as my Rules, Pay attention to them If I feel overtired I will try going back to bed and coming back to Trend Trades later.... Goals and Rewards: +20R at end of the month to consider trading with more size (this will not be the month as I had a small blowup day) -17.1 for the week -5.2R for month of December Lowered my R per trade Edited January 6, 2020 by Glenn Budde Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 6, 2020 1-6-20 AIS 0810, 4.5 hours, 6/10 PAT: Keep my eyes on my main list .... No Chasing ... No Voice Chat before 1000 ..... Notes: Trade the trade and trust myself in the trade .... Price range of 5.00 to 100.00 .... AMD PB#1 .... 5min ORB breaking above VWAP with L2 and Tape Confirmation.... Took 50% off at 1R as Price action was slowing and out at BE PB#3 .... entered on a pullback after an extended run (a bit of FOMO here) I also should have taken a 50% at 1R again but I was being greedy and this is where my head gets in the way when I lower my Risk as I have done for the month.... -.6R CRWD All PB#3 .... First one I stopped myself out too early out of fear... I did not give it enough room..... second trade I learned from the first one and lowered my stop to the 20EMA on the 2min took a 50% and two 25%.... added in and took another 50% and out at BE on the add ..... Tried one more time after recovering the 20EMA with momentum and stopped again at BE as this is where I had to take care of other business and this is my time for a planned break...... third trade (bottom Chart for 2min entry) .... Came back to the desk to find I missed a move but waited for a pullback to the 9ema on the 2min ... Tape and L2 for confirmation .... took a 50% off then all other partials were 25% after that.... All my add ins were based on a new BE being well below the new intraday support levels..... These adds netted me about 1R .... +2.6R Cons: Chassed AMD on 2nd trade.... Should have held onto the CRWD position when I went on break with a hard stop in place Pros: Added in on CRWD when I felt it was a good time with the Candle patterns around the EMAs and the T&S along with L2 (the L2 was not showing any clear signals but with the T&S gave me a little more of a complete picture) Playbook Trade: CRWD 1125 Notes: Stay focused on my pre-market lists of stocks ..... Rs: +2R 1 Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 7, 2020 (edited) 1-7-20 AIS 0810, 5 hours, 5/10 PAT: Chasing..... Trade Management Notes: Set stops if a Trade goes into a planned break.... MU 2 trades PB#1 ... 5min ORB with a ABCD on the 1min and above VWAP and all MAs... stopped out at C.... This was overextended for an entry and needed more confirmation -.6R PB#2 - PB#3 ... VWAP false breakout.... entered when it broke back through VWAP on the 2min ... Share size was a little too small here.... took a 50% partial at 1R then another 50% when Price action did not look as good anymore (which was just a pause in the Price Action) ...... Added back in after the pullback... took partials at key price targets based on the L2 and T&S.... Added in on a pullback to the 9 on the 2min for a trend .... took partials at key L2 and T&S ... all out on a big pullback at 57.25 .... Got back in on a bad entry and stopped out... Tried one more time with Thor on the Chat and made me feel better about this.... took partials at levels of hesitation on the T&S... took very small size on these last trades as I did not want to risk much of the profit today..... This will be the last trade.... +6R Cons: Feel like I chased on the first trade .... Should have went in with a bit more size on the second entry Pros: Took the VWAP play when it presented itself.... Added in when Price action was looking good ... feel like trade management was better today.... Playbook Trade: MU PB#2 - PB#3 Notes: I feel like my trade management was much better today... Ill update later... gotta get ready for work... will set a range order.... Rs: So Far .... +5.3R Edited January 7, 2020 by Glenn Budde 1 Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 8, 2020 1-8-20 AIS 0810, 3.5 hours, 5/10 PAT: Chasing ...... appropriate share sizing Notes: Trade the Trade.... Do not look at P&L ....... M PB#1 5min ORB with ABCD moving through the 9ema on the 1min ... should have taken a partial at 1R as price action slowed and seemed to be reversing.... my Reason2Sell was once it broke back through VWAP on the 5min and making a new 5min low -.6R LK all one trade PB#1 15min ORB breaking above VWAP and going Red to Green with an ABCD on the 2min.... took partials at key levels based on the T&S and L2 and had 25% left for PB#3 a pullback for a Trend Trade ,,,,, I was a little early on this add but either way I would have added in at about this price many times..... I should have added more at about 1050 but was a bit unsure ... I took a couple more partials and another add on a fly by (I was busy with my other business and an AC repair).... I set a range order for 37.00 - 37.99 and when I returned it hit 37.99.... +4R Cons: Should have taken profit on M when Price action was slowing... Was a tad late on pulling the trigger on LK Pros: Trade Management on LK .... Playbook Trade: LK Notes: Feeling good about today with trade management and limiting the amount of trades.... Rs: +3.3R Share this post Link to post Share on other sites
Rob C 824 Posted January 8, 2020 Great LK trade. Really nice wedge on the 2min/5min chart with PDC for an entrance. 1 Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 9, 2020 (edited) 1-9-10 AIS 0825. 4.5 hours, 5/10 PAT: Profit on price action .... spread ..... Notes: stay focused and patient ..... be selective with my trades .... LK PB#3 two tries both Stopped out..... First was a 15min ORB with a 2min ABCD second was a pullback Trend continuation trade.... -2R AMD two tries here also... second trade is not showing ... both were trend trades that did not setup per my rules an these were both over trading.... -2R SNAP.... PB#1 added with PB#3 .... entry was a 5min ORB engulfing candle breaking through all MAs ... took a partial and added on the 2min pullback below the 9ema and returning through it.... took another partial and once again added in.... and this is where I managed my trade bad... when it broke down past the 20ema on the 2min and A new 15min low all with declining T&S without much buying on the tape I should have exited with another 1.5R but instead I was holding my bias on this and held on all the way to BE at 17.49 ..... Guess I just wanted to give money away today.... +2R Cons: Over traded taking setups that were not even a B ...... Managed the end of SNAP poorly holding on to my long bias.... Pros: Snap entry was good but could have been better just a bit lower Playbook Trade: SNAP with many improvements Notes: Watch out for over trading setups that do not hit at least 3 points.... Rs: -2R Edited January 10, 2020 by Glenn Budde Share this post Link to post Share on other sites
Glenn Budde 356 Posted January 10, 2020 (edited) 1-10-20 AIS 0810, 7.5 hours, 6.5/10 / 7/10 PAT: Setup Grade ...... Over trading .... T&S trade management .... Notes: Its Friday and I want to head into the weekend on a day that I followed all my rules...... LK PB#2 .. got chopped up on VWAP Plays ... Managed a small profit... +0.5R SNAP PB#3 .... first Christmas tree was me in the wrong screen on my streamdeck and hitting all the wrong buttons.... all out on my panic button for more than I thought of -1.0R ........ second entry was after HOD and not on a pullback .... this was my last trade and I do realize that I am way off my game today so this is it for me till Monday ... Total loss .... -1.3R Cons: Over trading on bad setups... Pros: Respected all stop losses Playbook Trade: none Notes: even though I respected my stops I feel like the last trade on SNAP was very bad as I had already told myself that I should not trade anymore for the day.... Rs: -2.3R Edited January 10, 2020 by Glenn Budde Share this post Link to post Share on other sites
