Jennifer L. Day Trading Journal SIM

[JenniferL 27]

And so it begins

[JenniferL 27]

Day 2 has been looking something like this.  Going to a meeting and will be back later

[JenniferL 27]

Day 5 in sim

I have not been keeping up with my journaling, mostly because I am spending so much of my time learning.  I have had mostly losses in my first week of sim trading, but I am learning so much.  Today was actually my first green day.  Hurrah!  In addition to all of the things I am learning in the chat and trade reviews, I am having the real advantage of getting to know what I don't know.

After several tries and fails at catching a good trend trade, I got amazing input about studying price action, volume and T&S.  Alastair recommended this video and it really helped. I am posting here as a reminder to myself.

www.youtube.com/watch?v=BqCSHYpMxTI

I had a few good moves today - the market has been waiting all week for the Fed announcement and so things have been unpredictable.  Today my first set of trades came after 2PM with the Fed talks.  I have the next one on my calendar to see if I can do this again.

I noticed that after the morning volume died down, both DUST and NUGT were forming a triangle or pennant pattern of some sort -- same pattern mirrors of one another as they always are.  I thought that when the Fed announcement kicked in, and the market responded, they would break one way and the other.  I would pick the one going long and then use the other things I am learning to make my trades.  Used price action, T&S, and lots of MA's and did really pretty well.  I traded mostly DUST, since it was the winner.  I took a trade on NUGT too -- I closed out my second right away so I could pay attention to the chat room.

After NUGT /DUST wave of activity moved out of my comfort level, I looked for another opportunity since I thought some of the selling off from earlier in the day might bring a reversal.  I saw AAPL on my watch list (as always) moved from red to green.  When I looked I saw bullish candlesticks, price had crossed VWAP and 9 had crossed 20 on several time frames.  Harmonious chart with support below on 2, 5 and 15, little to no resistance above.  I was happy with this trade.

What I did not do well was come in with a plan for my RR or share size, or any of that, but I have to practice one thing at a time before I put them all together

 

What I did not do well was come in with a plan for my RR or share size, or any of that, but I have to practice one thing at a time before I put them all together

NEXT:

1.Learn how to submit my trades for review with the format provided.

2.Find a better journaling tool (not tradervue)

3. Study more on T&S and set my parameters correctly.

4. Set levels before market open

Edited September 18, 2019 by JenniferL

[Mike B 624]

 

5 hours ago, JenniferL said:

I have not been keeping up with my journaling, mostly because I am spending so much of my time learning. 

Journaling is the best tool for learning what works and what does not work. Do not forget to review your journal at the end of each week. I have found many times that I found something to tweak during my weekly reviews of all my trades that I completely missed the day I was journaling. I highly recommend making sure you have a solid risk to reward plan and can manage stopping out before going live. It will only help you preserve your capital during the learning curve.