CS - Day Trading Journal

[choonsiang.ong 31]

Thanks @Rob C buddy for your comments! Would you mind share me your skill on how to get your shorts fill?  

[Rob C 826]

Your welcome.

I am going to split the knowledge of getting shorts filled into to two time frames, pretrade and entering the trade. The reason I am providing a distinction between the two, is I know very little about the latter. As for the some of things to look for before the trade I know a little and will mention them here.

I know at least short fills (and availability) will be dependent on: Broker, platform, clearing house, route, availability and restriction.

From what I have seen IB and Centerpointe seem to be the best for short availability, though they approach it differently. IB has a lot of available shorts. Centerpointe splits their short availability into easy and hard. Their easy list is not impressive. Easy means you can just make a market order and short. The hard list means you have to use their hard to short app. This app takes a few more clicks and is not easy to use near the open. It also charges extra commission and has a 100 share minimum. But using the hard to short app will be bit better than IB for shorts. So if you want to short near penny stocks and are not rushed for time, that is the way to go.  For me it killed me that one day I watched ROKU and CGC both taking a nose dive and I had no shares to short on Centerpointe.

The platform can make a difference. Hopefully you are using DAS and checking the number of short shares available in the premarket. If it is anything but max I usually don't place it in my watch list. And I assume you already now about the SSR.

The clearing house can make a difference in short availability. Please ask you broker about your options. Though some can be better with shorts it may have a trade off like overnight margin restrictions.

The route can make a difference, again you can ask you broker for your options and which is the best for shorts. I am paying higher for a route that is very aggressive getting my fills since I trade at the open.

Hopefully there was something useful in the list above.

 

 

 

[choonsiang.ong 31]

Thanks buddy for your prompt reply. 

As I am still on DAS (SIM), I will then check it out with Centrepoint when I am ready to go live as how does the hard to short app works better. 

Pertaining to SSR, what does it mean and represent? 

Currently which broker you are using? I am located in Singapore and hence I got no choice but to sign with Centrepoint (non US resident). 

Bro, do you actually sleep? Which timezone do you belong to? 

Really appreciate your kind response and it will definitely accelerate my learning growth! Cheers!

[choonsiang.ong 31]

19 Sep 2019

 

Today I started really late (11:30pm SG Time) and thinking to practise my trade.

I took a losing trade on MSFT. I saw 2 and 5 min chart where it is sitting on WWAP, where it act as a support. 

The trade went against me and I got stopped out. 

I guess I am too tired physically to focus. The trading volume is actually decreasing and I shouldn't went long for this trade. 

Edited September 19, 2019 by choonsiang.ong

[Rob C 826]

10 hours ago, choonsiang.ong said:

Thanks buddy for your prompt reply. 

As I am still on DAS (SIM), I will then check it out with Centrepoint when I am ready to go live as how does the hard to short app works better. 

Pertaining to SSR, what does it mean and represent? 

Currently which broker you are using? I am located in Singapore and hence I got no choice but to sign with Centrepoint (non US resident). 

Bro, do you actually sleep? Which timezone do you belong to? 

Really appreciate your kind response and it will definitely accelerate my learning growth! Cheers!

I am with Centerpoint but unsure if I can recommend them over IB. But you will learn more about your style of trading soon and then you can choose the correct broker for your style.

SSR means it is restricted so can only short on an uptick. So if the price is dropping continuously will probably not get a chance to enter.

I live in the US pacific time zone. So the market opens at 6:30am for me. So I can trade, drive my daughter to school and head to work.

[choonsiang.ong 31]

I am with Centerpoint but unsure if I can recommend them over IB. But you will learn more about your style of trading soon and then you can choose the correct broker for your style.

SSR means it is restricted so can only short on an uptick. So if the price is dropping continuously will probably not get a chance to enter.

I live in the US pacific time zone. So the market opens at 6:30am for me. So I can trade, drive my daughter to school and head to work.

@Rob C You mean you can recommend me to IB? I don't mind if this is possible. I do hope that you can earn some referral fees out of this! 

 

Thanks for explaining on SSR. I will go and have more read on that. 

 

Oh great....Fresh mind trades the best. Unlike me, the market opens at 9:30pm on my side. I finished work and already half dead. Lol. 

[choonsiang.ong 31]

20 Sep 2019

I took 2 trades today. 

CRC - I took this trade when I saw harmonious charts in different timeframe. Especially in 2 min chart where it crosses above the MA. I entered into the trade without enough time to put in a stop loss. I should be have been stopped out but in the end the stock moved back up and I took a small profit. 

Mistake : Trading into the MA on 2 min chart and didn't put in the stop loss on time. 

PCG - I took this trade when I saw it sitting on the MA and WWAP. I took a long but got stopped. I took a long again and this time round, the stock did took off and I took profit from the trade.

MIstake : I experienced FOMO AGAIN and did not let the winners run.  The movement of the candles can be really scary. 

 

 

 

 

 

[choonsiang.ong 31]

23 Sep 2019

I took 2 trades today on the same stock, ROKU. 

Both are not fantastic. 

1) FOMO and went short but with a very lousy entry but managed to get some profit. Pure luck and no trading strategy. 

2) Saw harmonious chart and candle sitting on all MAs. I took long but I got out as when the next candle start to retrace on 1 min chart. 

In red today and decide to stop trading for today. Peace. 

[Rob C 826]

Great trading day! I wish I had your discipline. I had the same issue with my first trade as well. I got into an unsatisfactory trade (mine due to a bad fill). I had exactly the same opportunity as you did. I could have gotten out with some profit. Instead I held on for a -1.2R loss. While you smartly just took the profit and ran. Nice job!

Also, you stopped trading when you thought you may be emotionally compromised, is a major experienced trader move. Awesome!

[choonsiang.ong 31]

Thanks for your great encouragement, @Rob C. I guess I am the slow trader who tends to catch trades/confirmation slower as compared to others. 

And as I am trying to trade yesterday, it really took me a while to enter into the trade when I short. 

As I am not in LIVE environment, does it happen to you the same when you are trading live?  Do you actually feel the difference when you are trading LIVE vs SIM? 

It's really frustrating when you can't get in and out of the trade as and when you like it. But you still need to pay the commission for a bad entry/exit. 

[Rob C 826]

There is a big emotional difference between trading Live and SIM. So if you are treating your SIM trades with extra care, like they were live, your transition will be easier. I see a lot SIM traders over trading every day and its a habit they need to break. So If you are trading careful like this in SIM it should be easier for you when you go live.

 

[choonsiang.ong 31]

Yes I am trying to trade SIM as similar as trading live 

What I am referring is the difficulty in entering into a trade. When I trade ROKU on SIM last night, I find it so hard to enter into the trade. When I heard Andrew trading live and when he said, "I am shorting ROKU", he is already in the trade. 

Is there a real difference in terms of the speed and timing of entering/exiting a trade in SIM vs LIVE? Do you feel any difference when trading LIVE vs SIM? 

Thanks!

[choonsiang.ong 31]

24 Sep 2019

I came online rather late today (10:30pm) as I am running some errands. 

Saw NFLX and all charts (except 15 min) stay below WWAP. Wanted to go SHORT at the arrow indicated in 1 and 2 min chart but in the end only got filled below 50MA. A bad entry (yucks) and managed to take some profit for this trade. 

One green trade and taking rest now.

[choonsiang.ong 31]

27 Sep 2019

I saw 2 trades at around 10:30pm. Managed to get in one and didn't for another. 

1) CTRP - I LONG the trade with my several thoughts in mind

• At the 5 min chart, I thought I saw a bull flag and seems like the stock is pulling back
• Saw some big buys coming in green and seems like the stock is going to take off. 

Eventually it didn't and I got stopped out from this trade. 

2) ROKU - I saw it retracing back to the VWAP (serve as a support) and set a limit order at 100.2 for a better entry and risk reward. In the end, the stock took off without me. If not I will be able to get at least 80 cents profit for this trade. 

Today I am in Red. Hope I will do better next week. 

 

Edited September 27, 2019 by choonsiang.ong

[choonsiang.ong 31]

7 Oct 2019

Traded on 2 ORBs and one trade on AMD. 

ORBs for both RNG and SPWR. 

But for AMD, I think I have guessed it wrongly. I thought it is going to pop up due to the constant pullback towards the VWAP. In the end it move strongly towards VWAP and I got really scared and I exited the trade. After I observed the trade, I still got stopped out. 

 Hope to get better each day.