MarkCB's Journal

[MarkCB 49]

Hello  Everyone

Today was another good day. Took 3 trades; CGC and SCHW x2

SCHW

Waited for the 2 min ORB. Went short with a stop loss at that 100 MA. Took profits at 2R but was stopped out at the BE. Well it was little above the BE as I was trying to input a hard stop. 

2nd trade with SCHW was 5 min ORB. Used the 20 MA on the 5 min as my stop loss. Held on until that 200 MA and made some profit. Got rid of some more as I did get a little nervous. Was going to hold on to it until I saw a sign for a reversal but had put in a hard stop loss for a BE. 

CGC

Since I was busy with SCHW I did not take the 2 min ORB on this chart. Instead, I waited for the 5 min ORB. I didn't like what I saw, so I did not commit to anything. I did notice that the 2nd 5 min candle was creating an engulfing pattern. Waited for a pull back on the 1 min chart. I wanted a little more of a bull flag to be created but I saw all the MA were below the candle and on an upward trend. I went long as I saw a bullish candle form with a stop loss at the 9 MA. Waited for atleast 2R and took some profit. I was eventually stopped out at the BE.

I think it was an overall good day. No emotional trading and no over trading. I did see some set ups form on TGT that I could've taken long but I made my daily goal and then some. 

Any feedback would be greatly appreciated. Thank you and see you all tomorrow!

[Mike B 623]

5 hours ago, MarkCB said:

Your entry on the $CGC trade was great. You entered on the pullback allowing you to reap the profits on the pop towards the HOD. 

I am assuming that  you are using a fixed share size by the qty of shares you are taking. Where was your stop on $SCHW and $CGC? What is your risk per trade?

 

[MarkCB 49]

11 hours ago, Mike B said:

Your entry on the $CGC trade was great. You entered on the pullback allowing you to reap the profits on the pop towards the HOD. 

I am assuming that  you are using a fixed share size by the qty of shares you are taking. Where was your stop on $SCHW and $CGC? What is your risk per trade?

Thanks for the feedback, Mike. 

Yes I do use a fixed share size as I have my hot keys are set up as long/short 400, 200, 100 shares. However, I do not use the 400 shares hot key. My stop losses are at the MAs, usually 20 to 50 cents per share. So $100 per trade is my max risk but I really try to stay away, unless I feel very confident about the trade. 

11 hours ago, Mike B said:

 

 

[MarkCB 49]

Oh man. Not good at all today. Put so much pressure on myself since I did well for the past 2 days. Also, since it's Friday, I put even more pressure on myself as I said that it has to be good for my weekend to be good. Took way more trades than I had to today. Made a mistake, which lead to emotional trading, which lead to impulsive decisions. 

CGC

I think this trade went pretty well. There wasn't much confirmation besides the 1 min chart. Higher high/lows. Waited for it to pop above the VWAP and went long. My target was that 100 MA (orange) and was eventually stopped out. I should've been a little quicker to have gone out at the BE...oh well.

I then looked at my closed position and that is where it went downhill. I was so fixed on making the money, and not making a good trade. 

 

TSLA

So here I went long because Andrew was long. It popped over that 20 MA and I went long. There was somewhat a double bottom so I said sure. However, I may have chased it a bit here. I was also stretched for my risk. I knew I needed to have a stop loss just below the 20 MA but I did not have the room. I had to put my stop loss just above the 20 MA to stay within my max risk of $100 - which is dumb because the 20 MA was a possible resistance...... No surprise, I was stopped out. Looked at my positions again (WHY?!?!) Got upset with myself and here comes the emotional trading (Already did bad on a FL trade). Went long with no plan. Lost more. I then went short twice with no plan. If I was in a calm state of mind, I would never have taken any of these trades. With my share size and max risk, this was not a proper set up.

 

 

FL
Went long as it had higher highs/lows on the 1 min chart. Stop loss just below vwap. Was stopped out. No problem. But then the TSLA trade happened. Took another long trade with FL. I had lost patience at this point. I know it was still doing a pull back, but I went long way too early. To hit at least 2R, I would have had to wait till it hit that 200 MA (brown). Didn't make it. Was stopped out...

Really bad day. I need to take it one day at a time. Robert even talks about this in Robert's Rants. I over traded - need a constant reminder to not do this. Do not let emotions get the best of me. I know what I did wrong. I really need to work on my psychology. 

As always, feedback would be greatly appreciated. Have a wonderful weekend everybody and I will see you all in the Monday chat!

[MarkCB 49]

Good morning everybody

Very good day today. Was bummed out over the weekend due to Friday but I made sure to remind myself to take it one day at a time. Came into today, thinking positive and to be patient. Took 2 trades CGC and UBER. I now like to watch the 1 min and 2 min chart on the open. If I see nothing on the 2 min chart, I switch it over to the 5 min.

CGC

I know the stock was super stretched from the VWAP but had a stop loss just below the first moving average (9 MA). I liked what I was seeing on the 2 min chart and the 1 min chart gave me confirmation with the second 1 min candle being a hammer doji. Went long, scaled out a little early but glad I did. Brought my stop loss to the BE and got stopped out. 

UBER

Right before the open, I noticed the stock moving up from the 50 and 100 MA (red and brown) and figured it may be a potential falling angel. I put in a limit order just above those  2 MAs. The first 2 mins did not look promising, but I kept my order in anyways as I know it may take some time before it drops. It finally did and my order was filled. TBH, I almost forgot I had that limit order there. Took profits and then I kept some as I noticed I had put a level at 29.32. I did bring my stop loss to the BE. Once it hit my target I let go of the remaining shares. 

Patience and waiting for a good set up is key. Did not over trade. Good start to the week. However, I do have to remind myself to take it one day at a time, regardless if it was green or red. 

Thank you everybody and any feedback would be greatly appreciated. See you all tomorrow morning! 

[MarkCB 49]

Good morning

One thing I learned, is that I am very inconsistent. LOL. Oh man. Ah well. I have a real problem with FOMO. I know exactly where everything went wrong. Before the open I looked at DLTR for a potential rising devil. For no logical reason, besides a feeling, I said no. Of course, once the market opened, it was a rising devil. Instead of saying, "It's OK, you didn't feel comfortable taking that trade and move on", I said, "F**K, WHY DIDNT I TAKE IT?!?!" There were some nice 2 min ORB set ups but missed those since I was not calm. Now I am not calm, my judgement is flawed and it reflected in the morning trading. 

BBY

I went long as the new candle broke above the previous one minute candle. Still not bad. However, my stop loss was way above the VWAP as I calculated my risk wrong. If I did this properly, my max stop loss would have been 77.60 and I would not have been stopped out. The problem was that I thought I saw an opening range breakdown on DIS at the same time and took it short. Usually, as I take a trade, I immediately put in a hard stop loss but I was busy with DIS and panicked when calculating my stop loss on BBY. A calm mind and taking it one trade at a time would have avoided this conundrum. 

DIS

Took this trade while in the middle of the BBY trade. Went short, did not have a hard stop but was frustrated and just stopped out myself. I Then I went short right after with stop loss just above the VWAP. Was going scale out at 2R but I hit the wrong hot key and went short again. Panicked, and pulled all my shares.

DKS

Went long after the 5 min ORB. I think I had a pretty food entry. If I had a clear mind, I would have put my stop loss below the VWAP 44.00. But I again miscalculated. In this case, it worked in my favour as I would have been stopped anyways, even If I set it up properly. More frustration and did not see to go long. Some people went long at 9:41 ish. I still do not see the signal. However, I should have gone long at around 9:45. I see the bullflag on the 1 min chart and the 5 min chart did indicate higher highs/lows.

NTNX

Went long, as I noticed the bull flag but it went the other way and I was stopped out. Then I said whatever and went short and it went the other way and I got stopped out...LOL. damn, I clearly didn't care at this point. Which definitely was not the right attitude. I had to stop as I started to over trade.

 

I need to be a calmer trader. This has been an ongoing issue. I was upset over a trade that I didn't even take. I should have just moved on as the day literally just started. Just looking at my trades now, I could have done amazing today but I let my frustration get the better of me. 

 

- One day at a day also translates to one trade at a time

- be calm, NO FOMO (my worst enemy) I can't watch everything. 

- do not over trade (my 2nd worst enemy, as a result of my worst enemy)

 

As always, feedback is greatly appreciated and I will see you all tomorrow!

 

Edited November 26, 2019 by MarkCB

[MarkCB 49]

Good morning

Average day today.

ROKU

Took ROKU long right at the open. Falling angel. Went long, Sold, sold and got out at BE. Did not use a hard stop as everything was moving so fast. Then I I had my finger on the long hot key after that 2nd 2 min ORB. Went long, but immediately regretted it as I was way to stretched from VWAP. Got out. Ah well, stayed calm and moved on.  

UAA

I'm only showing the 5 min chart as it held on it for too long and to show my entry and exit. I also put a limit order in for a falling angel but it I was too low. 

I used the 1 and 2 min chart. Went long after the 2 min ORB. Stop loss just below VWAP.  Was hoping to hit 2 R before scaling out but never did. Looking at it now, the spread is huge and it would've have taken a catalyst to have it jump that much. Ah well. Once it hit that high of the day again, I scaled out. Then was hoping it would hit 19.40 but it never did. I was eventually stopped out at the BE. 

BABA

This trade was taken while being in the UAA trade. Saw higher highs/lows and went long above that 200 MA. It dipped a little and I added some more right above that 20 MA.  Stop loss below that 20 MA.  Always wanted to try averaging down but it was scary. I don't think I will be able to do it with real money. My goal was VWAP. I hit the sell 50% hot key and nothing happened. Hit it again, nothing. Noticed that orders were sent but not filled. Oops. Now I'm short shares once the 2 orders got filled. Immediately got out when I realized what happened. The noticed tons of volume coming in. Tried to go long sooner at around 197.90 with stop loss just below vwap at 197.70. As I hit my hot key the stock jumped and my order was filled. Way to stretched from VWAP. And way over my max risk. Luckily the stock kept going up and I sold and sold. Held on too some and was stopped out at the BE. 

I'm glad I was able to keep a calm mind. That's pretty much been my issue. Made "money", lost it and made it back. I reminded myself to move on and to take it one trade at a time. 

One thing I will change is how much I scale out. I've always wondered if scaling out at 50% is too much. Today Andrew answered that question. He went down to 25% and still thought it was too much. He is now at 10% and I will give that at try. 

Again, any feedback is greatly appreciated. Happy Thanksgiving to my American friends and I'll see you all on Friday. 

Edited November 27, 2019 by MarkCB

[MarkCB 49]

Good morning Everybody

Today I did not take too serious. I probably should have as I am learning but oh well, lesson learned, don't be lazy. Would I have been lazy if it involved real money, not sure. Knowing it was a half day made me a little, half ass ish. I just want to shop today...lol

Well I did take 3 serious trades and then I played around with my new hot keys. 

CGC

I thought I saw a falling angel but I was wrong. Went long but the stock just kept going lower and I thought it was going to go higher. I should have stop out way sooner. I need to study these falling angel/rising devils some more. I never really know where to put my limit order and where to put my stop loss. I mean technically it should go at my max risk or lower right?

CLVS

Took the stock long after I noticed a hammer doji being formed on the 5 min chart. It was above the VWAP. Went long with my stop loss below the VWAP, at that 20 MA. The spread wasn't bad so it allowed me to do that. Got a little trigger happy and scaled out too soon. I did start using 10% scale as mentioned in my previous post. I gotta say, I like it! Eventually got stopped out at the BE. 

ROKU

Went long but again, I was too stretched from VWAP and was above my max risk. I could've stayed in and made some money on that wick but I pulled out immediately. I really need to not have FOMO and not get into these stupid trades. At this point I just wanted to play around with my new hot keys. I saw an opportunity to go long on the 1 min chart. I started to scale out with my new hot key. But again, I should have gone out sooner at the BE. After that, I just played around. You can see that nothing makes sense afterwards. 

Have a good weekend everybody and any feedback is greatly appreciated! 

I did not post my trades window as the list was way too long due to the playing around. 

 

Edited November 29, 2019 by MarkCB

[MarkCB 49]

Goodmorning Everybody

Good day. Felt the FOMO but didn't let it bother me today. 3 trades: ARWR, EXPE, ROKU

ARWR

Rising devil trade. It was a little scary (especially if I wasn't in a simulator). Went short right below the VWAP. Held on and I knew it was going to go down. Held on and scaled out at the first MA. I was eventually stopped out at my BE. I used hard stops and moved my stop loss to the break even and I was eventually stopped out. I see how hard stops can definitely stop me out too early. If stayed in this trade, I would have made much more. But again, it can go the other way. 

 

EXPE

Definitely had FOMO when I missed the 5 min ORB to go short but I didn't let it bother me and moved on and waited. Eventually it had a beautiful VWAP reversal and bounced off the 100 MA on the 1 min chart 20 MA on the 5 min chart. I am not too experienced with these moves but I'm glad I saw it. However, once it went above the VWAP, I looked at the 2 min and 1 min chart. Both showed higher highs/lows. Went long and with a stop loss just below VWAP. Scaled out a little early but since I am only using 10%, it wasn't too bad. I was eventually stopped out at my hard stop of my BE. Here I am having a bigger issue with using hard stops. The stock showed a lot of strength and I knew this was a pull back. I would never have been stopped out and I could have been in the trade for much longer. It didn't even get close to the VWAP. But this is why I practice. I'll keep this in mind for next time. 

ROKU

Here, ROKU had tested the low of the day a couple times. Both on the 1 and 5 min chart. I had a feeling to go long. I mean I was right, but I shouldn't go on feeling. I stopped out below the low of day at the time but then it actually did what I thought it was going to do. It wasn't a smart trade to get into and I was right by chance. I should never take trades on feelings, but use information that the charts provide to me. 

 

Overall good day. Hard stops made me miss out on great opportunities but I've made my daily good. I'll have to review how not to use hard stops in certain situations. 

Again, any feedback is greatly appreciated. Have a wonderful day!

 

 

 

Edited December 4, 2019 by MarkCB

[MarkCB 49]

Good morning everybody!

I had a good day today. I came off a night shift and was debating whether I should jump on this morning. Let's just say I am glad I did. As always, I have the 1 and 2 min charts open during the open and look for a 2 min ORB. If I do not see anything, I switch the 2 min chart to a 5 min chart and then look for a 5 min ORB. I then use my 1 min chart for confirmation. Once I am in a trade, I then switch my 5 min chart back to a 2 min chart. I have also decided to use a hard stop loss but I did move it lower than previously. I have also learned (from listening to Carlos and Brian this morning) that using the 20 MA is a good resistance as the stock usually likes to bounce off that MA. Therefore, if the risk allows it, I have moved my stop loss at or just below the 20 MA on the 1 min chart. Took 2 trades today. MU and AAPL. 

MU

Didn't see anything in the 2 min chart but I did like the 5 min ORB. Took it long with stop loss below VWAP at 47.60. Started to scale out at 2R and then 10% as it climbed. Saw the pull back on the 1 min chart. Was debating on adding but I opted not to. I will definitely try it out next time. Kept scaling out as the stock rose. I was eventually stopped out. But this was definitely the longest I have been in a trade. But the patience definitely shows how rewarding it can be.

At the end, you'll see me buying stocks. That was a mistake. I had put my stop loss at 48.18. But when I looked at my open trades, I was short, 4 trades. I am not sure how that happened. When I put my hard stops, I don't touch the number of shares, so I am not sure why it sold more than what I had ordered. 

AAPL

Trade 2 I took while in MU. MU wasn't going crazy and AAPL had a nice 5 min ORB with a nice ABCD pattern on the 1 min chart. I went long with my stop loss below the VWAP at 268.80. I was getting close to my max risk limit but I had just made it. I guess if I waited a little longer I would have been closer to VWAP but oh well. I may have been a little early with scaling out just below 2R. Continued to scale out and was eventually stopped out. On the last AAPL image, You'll see that I was stopped out just below the 9 MA. At this point, I had not yet heard Carlos and Brian suggest to use the 20 MA as a resistance. Learned my lesson and used that information with MU instead. 

Overall, good day. I did well and I learned a couple things.

As always, feedback is greatly appreciated! Have a wonderful weekend!

[MarkCB 49]

Hello Everyone

I almost forgot to journal today as I got pulled away after I was done this morning. I took a couple trades today - ROKU, CGC, AMD, MU

MU

Got a little trigger happy and went long way to soon. I should have waited for the 2 min ORB to see what would happen. On the 1 min chart I entered way too late and right at the 100 MA. Bad move. Didn't let it bother me and moved on.

CGC

Again, went in a little too early. Should have waited for the 2 min ORB and I would have had an even better entry. At the end I, kept moving my stop loss to the 20 MA on the 2 min chart. However, I noticed lower lows/highs on the 1 min chart and decided to pull all my shares. Technically I should've stayed in and added to my position during the pull back. Instead I went long again on that 2nd pull back after I got out. Used the 9 MA as a stop loss. Scaled out as it hit the new highs of the day and was eventually stopped out. I'm still trying to figure out where to put my stop loss if the stock is above the 9 and 20 MA. I know the 20 MA on the 1 min chart can be used as a resistance and I don't want to miss out...However, I did make sure that I was above my entry for my stop loss. (made that mistake on ROKU, see below) 

ROKU

Saw a nice ABCD pattern on the 2 min chart. Went long, made some profit but I should have pulled out at the BE. Instead I let it go all the way down to the 20 MA on the 1 min chart. Again, I have hard stops and for some reason, I was a couple stocks shorts. Realized a little too late and hit the wrong hot key at first but eventually got out. Ah well. I now watch my open trades as soon as I get stopped out. 

AMD

Noticed the hammer doji on the 2 min chart above the VWAP. The following candle also closed above the vwap and when I saw the next candle go up I decided to go long. And again, I got stopped out but I guess I should've gone out at the BE and not waited till it got closer to the VWAP. I'll have to figure out where I can get more info on when to use the BE or the 20 MA. 

Not a bad day. Didn't let the bad trades bother me and moved on and turned it into a positive day. I just need to be a little more patient to get better entries. Thanks and see you all in the chat!

[MarkCB 49]

Good morning Everyone

No bueno today...I don't get it. One day, the emotion are in check, the next they are all out of wack. Now as I am typing, I realize I did not do the exercise as per Dr. Brett Steenbarger. Took a couple trades. DBI, CGC, SFIX, MU

DBI

Put in a limit order thinking that it will be a rising devil trade. It just kept rising. I am a hard stop kind of person. I need to put hard stops if I decide to take rising devil trades in the future. I put limit orders in right before the open and for some reason I decided to increase my share size x2 ?!?! I will not be doing that again. I will stay within my share size and put limit orders in after the open if the stock is favourable. Anyways, as you can see, I held on for way too long. Then I eventually did go long but I was too stretched from VWAP. Even though it was a decent trade afterwards, I am not happy with this at all. This kind of set the mood for the rest of the day......

CGC

Here I took a falling angel trade. Got in right above the VWAP. However, I should have stopped out as in dipped way below my stop loss. Again, I did not put a hard stop. This really reiterates the need for hard stops for me. This trade could have gone the exact way as DBI. Held on (because it wasn't real money....)But again, not a good trade at all. 

 

I did mention that I took other trades as well. Some good, some bad. I am not posting them as the good ones are the ones I was calm at. But the bad ones, made no sense at all. Pretty much emotionally traded. Broke a bunch of rules today. I need to remind myself to take it one day at a time again - even if I have had positive days. 2 positive days, I got sloppy. 

- looked at my P&L after that first loss

- did not use hard stops

- got cocky and was not patient

- Will have to look at a new way at entering rising devils and falling angels. Too many times, the stock has gone way past its stop loss before going the right way

 

Feedback is greatly appreciated as always. Sere ya'll Friday as I am back to work for the next 2 days. Have a great day!

 

 

Edited December 10, 2019 by MarkCB

[MarkCB 49]

Good Morning Everybody

Had a weird day today. MU kinda screwed me at first but did well afterwards. However, I started hitting my hot keys by mistake, instead of using the number pad to put in my hard stops...took a bunch of trades to practice different things. A couple things stood out. Am I over trading? Sure, but the goal today was to try to practice more set ups.

MU

Tried to take the 2 min ORB but clearly had FOMO. I was at my max risk - Unnecessary.  I missed the 2 min ORB, I should have just waited for the 5 min ORB. In this case it did nothing. But at around 09:37 there was somewhat an engulfing pattern on the 1 min chart. Then the following candle popped over the VWAP again. I went long on the next candle and road the stock upwards. Something new I am trying is adding to my position on the pull back. I was hoping the 9 MA would have been a good resistance for the pull back. I was wrong and was stopped at the 20 MA. I knew a bounce usually happens at the 20 MA. For the future, I'm thinking of only adding at the 20 MA on the 1 mi chart. 

I went long right away and started to scale out again. However, as I was putting in hard stops, I was using my hot keys instead of the number pad on the right and bought more shares...twice. Well didn't know that I could ever make a mistake like that but I'm glad I'm still in sim. 

 

ROKU

Saw ROKU bounce from the low of the day - knowing ROKU, it usually bounced up towards or past the VWAP when that happens. I got in a little late but I used the 20 MA as a stop loss and then the VWAP again. I was stopped out the first time below the BE. The 2nd time I was pretty much at max for my risk. I was stopped out. I mean, I had the right idea, but my risk didn't allow it. 

AMD

Went long on the 5 min ORB. I was a little to early. I should have waited for it to get closer to the VWAP. I would not have been stopped out as I could have used the 20 MA as my stop loss. I did go long again once I saw the candle forming above the VWAP.

Not sure if I want to keep practicing with adding to my position. I mean if I already hit my target do I really need to risk more? Or, is there really a difference in getting into a trade during a pull back? I mean technically, the entry/adding is the same thing. 

Again, feedback is greatly appreciated. 

Thanks

[MarkCB 49]

 

Hello Everybody

Good day day. 5 Trades total: MU, UBER, TSLA, AAPL

MU

Waited for the 2 min ORB. Didn't jump in right away but waited for a bit of a pull back to VWAP before I went short. 

TSLA

Took TSLA long at the pull back after the 2 min ORB. My risk just didn't allow for that dip below the VWAP and I was stopped out. I was busy with MU and missed out going long after that hammer doji. Ah well. Noticed TSLA heading for the VWAP and thought it would be a good pull back. But my entry was not good as I was too stretched from VWAP. I was eventually stopped out. 

UBER

Noticed that UBER bounce of the low of the day for  VWAP reversal. Went long when I saw the previous candle made new higher highs/lows. Waited for a little pull back for a better entry. Went long and was eventually stopped out at the BE.

AAPL

Went long after the pull back on AAPL. I knew it was a strong stock. all the resistance levels were below and that just gave me confirmation. I was putting in my hard stops but the stock moved so fast I didn't even notice it happened. I guess I was lucky today. My other mistake would be I pulled out all my shares. I guess I could have kept going until it made lower lows/highs. 

 

Good day today. Not perfect, but I prefer it this way. I want to make mistakes, so I can learn from them.

Again, feedback is greatly appreciated. Have a wonderful day everyone!

 

Edited December 17, 2019 by MarkCB

[MarkCB 49]

It's been a while since I last posted. With Christmas and New years, I tried trading but it was a busy time. I did trade but as soon as I was done, I had to head out and wasn't able to journal. Had ups and downs, mostly downs. The downs have pretty much repeated today. 

Took a couple trades today. MU, TSLA, APPL

MU

Took it long at the 2 min ORB. Real bad entry. (figured the spread isn't too bad, wrong thinking) I didn't even wait for it to go back to the VWAP. Then I took it long again, thinking a pull back to the 9 MA on the 1 min chart. Looking at it now, both entries were crap and too stretched. I have learned the 9 MA on the 1 min is not a reliable resistance. The 20 is much better. But I was so close to VWAP and should get closer to that for my entry...Patience is key, this also seems to be my biggest problem.

TSLA

I was a lot more patient with TSLA - knowing how fast it can move. On the 2 min ORB, I waited till it hit the VWAP and took it long. I am debating if I should be stopping out sooner and not wait for the BE. But when I do pull out sooner, it bites me in the ass and it ends up going higher...

I took it long again after the 5 min ORB. I didn't like my entry as I was too stretched from VWAP. Made some profit but did not wait for the BE. 

I then noticed (on 1 min chart) that the stock hit its low of the day and bounced off. It's usually a good sign that it will now reverse. On the 5 min chart I noticed the 100 MA and thought it was a great resistance. I used that as my stop loss, as the low of the day was too stretched. Unfortunately, It just went below the MA, 2 minutes before it decided to go up. And that has been an issue of mine, I get stopped out before the move happens. Happened pretty often in the last 2 weeks. I guess I should take a smaller share size. But man, is it ever frustrating, knowing you read all the signs properly, but it just wants to screw you over, just before it does what it's supposed to do. TSLA ended up going way past the VWAP.....

 

AAPL

Bad entry. Looked at the 1 min chart, thought it was a pull back. But it was too stretched from all the MA from both the 1 and 2 min chart. When would I use which MA for a resistance. Sometimes the 9 and 20 MA on the 2 and 1 min chart respectively are good or the VWAP. In this case the VWAP was the right resistance level. 

Anyways, I was stopped out and then immediately went long as I thought the 20 MA was a great resistance. After about 4 min, the stock just went sideways and I pulled out as my stop loss was at the BE and didn't want to go red. 

Not a good start to the year. Will learn from these mistakes and move forward - Patience and FOMO are a big issue. Thanks

 

 

Edited January 2, 2020 by MarkCB