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Robbie Williams

Day Trading Journal for Robbie W

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SQ Loss of VWAP | 15th March

 

I'd like to share another trade with everyone today - a big mistake that luckily I made money on (in sim) but could have turned out much worse.

I have been trying a new strategy of entering a position by typing the actual price I would like to buy (or short at) into the montage and then clicking buy or short. This creates discipline for me in that if a stock is not moving in my direction, I will only be filled if it pullbacks to the better entry which I've typed in.

 

In the same token, I have also been creating hotkeys to immediately place a 10, 20 or 30 cent stop on my position. I've also been trying out a new strategy where I type my first exit price in and create a limit order so I am not temped to get out earlier.

 

I've uploaded this image in the context of the 1 minute chart of SQ to show my foul up

 

SQ

 

I went short at 10:07 (purple circle) when the stock lost the VWAP and was making lower lower, lower highs on the 1 and 5 minute chart. On the pullback to the VWAP, I added to my position (green circle). I then typed the price that I'd like to cover my first portion of shares and clicked BUY, so that when the price dropped, it immediately covered some of my position for me.

 

What happened however was that it immediately shorted that many shares for me, as you can see at 10:13. I immediately covered, but because I had lost track of how many shares I had bought, covered, sold etc so when I clicked the button again, I'm not sure exactly what happened but I ended up short again. The stock moved in my direction and I covered to get out for a profit.

 

Be careful if you're typing your prices into the montage. If you short say 1000 shares, and then sell 300, and then another 500, you have 200 left so you need to remember how many shares you have left if you're typing these numbers into the montage rather than using the sell half, sell all buttons. I'm going to continue typing the prices into the montage as it creates more discipline for me, and see how I go with this strategy, but it's something I need to be very careful of.

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3 MONTH SIMULATOR TRAINING

 

I finished up my first 3 months of sim training last Friday. I've learn at lot during that time and have been writing down every trade to analyse my results and see what does and what doesn't work for me. I have decided that I will do at least another 3 months in the simulator - I am wanting to be super confident and proficient at trading as eventually I would like to quit my day job, however there is no rush for me to do so and I have a lot of things that I would like to fix before trading real money. Having the data has allowed me to figure out what I need to work on to be successful moving forward.

 

I have uploaded my data as an infogram (I love infographics and enjoyed making this in Photoshop) in the hope that you'll find it entertaining and some new traders might learn something.

 

Commercial Photography

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FITB | Monday 21st May

 

I took a total of 3 today - 2 of which were on FITB. After 3 minutes, FITB pulled back to the VWAP so I went short with a stop at $31.63 at the 200 SMA (grey line on my charts). With a target of 30.75 which was a level identified in the pre-market, my risk to reward heading into the trade was nearly 3:1

 

fitb

 

I scaled out of the trade, mostly out at $31, but held 10% of my shares and was stopped out above the VWAP at 09:44.

 

I identified a engulfing pattern on the 5 minute chart so as soon as I was out, I jumped back in long at $31.26 My stop loss was $31.16 with a target of $31.55 which was the 200 EMA on the 1 minute chart. I had a limit order set for $31.55 however the stock jumped up to $31.54 1 cent below my order and I didn't get filled! :( I eventually got out at breakeven at the VWAP.

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NBRV Pre-market trend trade | Monday 21st May

 

NBRV was following the moving averages pre-market on the 1 minute chart nicely so at 09:26 I entered short 200 shares at $5.95 My stop loss was the break of the 1 minute 20 EMA (green line) with a profit target of $5.48 identified at the pre-market. This gave me a risk reward of 3.6:1

 

NBRV

 

I covered a partial position on the way down to $5.48 however held the majority of my shares for the drop and covered all when the stock dropped near my target. I was able to book a $55 profit from 200 shares.

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AMAT ORB | 22nd May 2018

 

One good trade I made today was on AMAT. It looked bullish on the 5 minute chart and I went long at 09:34am at $50.82. My stop loss was the low of the consolidation at $50.67 with a profit target of $51.32 - giving a profit ratio of 3:1 (assuming I didn't scale out).

 

amat

 

I scaled out of the trade in stages. The last remaining 10% of shares I held but sold when the stock made two bearish candles on the 1 minute chart (which I seem to have accidentally cut off from the screenshot of the 1 minute chart).

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Great trade, Robbie! Love you how you scaled out at the HOD and before the dump. Excellent trade management on a high risk-to-reward play!

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CIEN | 31st May

 

CIEN was on the scannners around 09:15 pre-market. I decided to keep it on my watchlist. It gave me a few good trades. At the open, I noticed an opening range breakdown on the 5 minute chart after 10 minutes so I went short just below VWAP. I covered at my target of $23.74 identified pre-market and the 200 SMA on the 1 minute chart. The stock dropped and I covered most of my position at my target. I held some through the pullback but when it made higher highs on the 1 minute chart I got out the remainder of my position.

 

cien

 

The second trade I took was an ABCD pattern at 09:56 AM. Unfortunately the trade didn't eventuate so I got out as the stock fell.

 

I then noticed that the stock was weak, with an engulfing pattern on the 5 minute chart so I went short again at the VWAP, with a profit target of low of the day (profit ratio of 2:1). The stock spiked up and I didn't like the price action, so you'll see that I covered half my shares at breakeven in the third black box, around 10:03 AM to limit my risk/exposure. The stock then eventually did what I wanted and I covered.

 

cien

 

The fourth trade was a reversal. I was hoping to wait for the close of the 5 minute candle to confirm however with a double bottom on the 1 minute chart, I went long with a stop just below the double bottom and a profit target of VWAP (profit ration of 2:10). I then covered towards the VWAP, and with the short squeeze was able to cover the rest above VWAP.

 

Overall a couple of good trades, the first trade being the only trade I possibly shouldn't have taken due to the profit ratio.

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ANF Double Bottom | 1st June

 

ANF opened weak at the open. I wasn't able to capitalise on an ORB however the stock put in a low of the day at 09:58AM at $21.36. The stock squeezed up and found support, slightly higher at about $21.70 where it sat for 5 minutes. At 10:12AM, the stock then moved back down to that level and couldn't go any lower. Seeing a double bottom on the 1 minute chart, as well as the fact that the double bottom was higher than the low of the day reaffirmed that it was a good long. My initial target was VWAP, taking profit along the way.

 

ANF

 

I scaled out of the trade, capitalising on a 50 cent move back to VWAP, with a 10 cent stop.

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That was a great trade, Robbie. I was watching the same thing but missed the entry. By the time I noticed the move @ 21.90, the risk/reward didn't make sense. Nice work!

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ORB + ABCD + DOUBLE TOP MU | 18th June

I took 3 trades on MU today. The first was a ORB identified on the 5 minute chart above VWAP, with an ABCD confirmation on the 1 minute chart. When the volume came in, I went long and sold for a 2:1 profit ratio (no identified profit levels to try and sell to).

The second trade was an ABCD pattern (A @ 09:40, B @ 09:45, C @ 09:47). Unfortunately the ABCD pattern did not eventuate despite a confirmation on volume and I got out for a small loss.

As soon as I exited the second trade, I noticed a double top on the 1 minute chart and after the stock couldn't break above the MA on the 1 minute chart and struggled to move higher again, I went short with a target of VWAP. Even though I made profit on the third trade,  selling most at the VWAP, the profit ratio was just over 1:1 and I should not have taken the trade.

mu.png

Edited by Robbie Williams
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