MarkCB's Journal

[Rob C 826]

I like your trades from Thursday. The first MU trade was a classic 2min ORB with VWAP bisecting the body of the candle. The second trade was a near bounce from VWAP long. Both were fine, they just happen not to work out. TSLA trades were fine. AAPL second trade was well planned and timed as the price bounced off the 20MA. I understand it is really difficult to hang on for 15 minutes until the price goes your way.

[MarkCB 49]

Good morning

I have been really slacking on journaling, especially on my red days. 

Did a couple trades today. LK, ROKU, BYND, AAPL

LK

Was looking at LK for a 5 min ORB. Waited for the pullback to the VWAP before going long. Unfortunately it went the other way. Not sure why I had my stop loss so stretched. 

AAPL

Saw an ABCD pattern forming. Went long but was eventually stopped out at the BE. I didn't like the 2 min ORB on AAPL due to the massive wick. 

BYND

Tried to take it long at the 2 min ORB. Took some profits but forgot to change my stop loss. When it hit my stop loss, it automatically shorted some stocks. I guess it worked well as I was able to short it for a bit. Went long on the pullback. Unfortunately, I was trying to put in a stop loss but I hit the wrong hot key and pulled all my shares. 

ROKU

ROKU hit its low for the day. I know it usually does a VWAP reversal. I should have waited for another signal before going long the first time. I was stopped out. I tried to take some profits when the next candle popped up but it immediately dipped as I hit my hot key. My stop loss order then had less shares and the stock went short with a couple shares. I pulled out as soon as I noticed but immediately went long as I noticed that the VWAP reversal was in progress. The min chart had a hammer doji and the next candle formed above it. Went long but I got a little nervous and had really tight stop loss when it got above the VWAP. Ah well. 

 

Good day today. Now to go eat  and then nap for my night shift tonight. Will see you all tomorrow morning after my shift 

 

[MarkCB 49]

Took  a bunch of trades today (Jan. 14) . I was also exhausted as I came off of a night shift. I finally went to bed after trading and wasn't able to post until now. 

ROKU, BYND, AAPL, WFC 

ROKU

Waited for 2 min ORB. However, before the candle took off, i was stopped out. I actually manually stopped myself out. On the 1 min chart, you can see it went below the VWAP and the 9 MA. Unfortunately I didn't wait for the next candle for confirmation to take the 2 min ORB.

 ROKU then pretty much chopped me up. 2 min chart it bounced of the low of the day so I thought to take it long. I was going to used the previous candle's high on the 1 min chart as my stop loss. There was not much confirmation besides the bounce. The 5 min chart did show a engulfing pattern, but for one, I didn't/don't have the patience to let it ride out and two, I was too stretched from the stop loss of that 100 MA. Then I tried to take it long again as I saw a hammer doji form but again, it was not a good stop loss (using the previous candles high) and was stopped out. I eventually went long again once it crossed the 9 MA but it was not a good trade and stopped out again. 

 

I then trade ROKU one last time. This was my 2nd last trade right before my BYND trade. At this point I went from Green to red, close to 3% loss. This trade took me pretty much back to break even. Saw that the 9 and 20 crossed on the 1 min chart with the 50 MA about to cross them both. It started to cross on the 1 but as I saw it was going to cross on the 2 min chart, I went long. I used the 100 MA on the 1 min chart as a stop loss as I was too stretched from the 9 MA on the 2 min chart. I started to use limit orders to profit take and it works well for me. I also, move my stop loss as the 9 MA starts to go above my entry on the 2 min chart. Once thing I wish I did differently was that I did not put a limit order when I was on my last set of shares. I could have taken my shares all the way to over 135. I did immediately use this lesson on my last trade with BYND. 

 

 

WFC

Saw WFC bounce off of the low of the day. Decided to take it long for a VWAP reversal. I was late on the entry, I should have gone long as the new candle went above the previous candle high on the 1 min chart. I went long and used the previous candle high as my stop loss. I was eventually stopped out at the VWAP. 

AAPL

 

 On the 1 min chart you see that I went long. For some reason I thought it was a pull back, but now that I am looking t it, it definitely showed no sign for a pull back to the VWAP but rather a extreme reversal. But as soon as the stock went below the VWAP I covered my long position and then immediately went short for the ride down.  Not sure why I pull all my shares on that bullish candle ( i think it was a hot key mistake as I tried to put my stop loss at that previous bearish candle's high. However, in this case, it worked out well. 

Now that I am looking at it, it was one of my favourite set ups, the 9, 20 and 50 MA crossing over. 

BYND

I missed the 2 min ORB as I was busy with ROKU. Not sure what happened with the attempt at the 5 min ORB but I didn't take it. I saw a pull back and went long on the 1 min chart. Not my proudest trade as I hate using the 9 MA on the 1 min as a stop loss. I usually like to use the 9 MA on the 2 min chart but I was too stretched. I was eventually stopped out. I think this was actually my 2nd trade before ROKU chopped me up and I was up at this point. 

I then traded BYND again, much later in the day. I actually really like these types of trades. When the 9 and 20 MA cross then the 50 MA right below them. It's even better when it happens of both the 1 and 2 min chart. Took it long but since the spread was so tight I was stopped out. I tried again, made some money and stopped out. It was consolidating for a bit as BYND already bounced back up for a couple minutes. I just wanted more confirmation for a VWAP reversal and I was waiting for the moving averages crossing. I went long again and the stock finally took off. This trade after going red in my earlier trades of the day pretty much brought me to just a little over my daily goal. I should have pulled out sooner once it started making lower highs/lows but I stuck to my plan as it could have possible used that 9 MA as a pull back. This was my last trade. 

 

After some of this journaling, I see that I do much better on trades during the later times. I am still going to start at the open but will definitely be a lot more cautious (or even just watch) as I don't always want to go red before going green. 

Even last week, when I wasn't journaling I found much success in the later hours. I also found that I really enjoy the trades when the 9, 20 and 50 MA cross over. It done me well for these trades and last week as well. 

I also got Twitter today!! lol. Just so I can post my trades and get some discussion going with Andrew and the rest of the moderators. 

Going red today was no fun at all. Especially when I was up and already at my daily goal. But I wanted more practice. Still, did not feel good. I just had to get my head back in the game and be patient. Once I did that, I was able to recover and then some! Overall,  good day, lots of learning. I will see everyone Wednesday morning! 

Thanks!!

 

Edited January 15, 2020 by MarkCB

[MarkCB 49]

Bunch of trades today. Not good P&L but good learning.  

BYND, ROKU, TGT, AAPL

BYND

Tried 2 min ORB, didn't work. Tried 5 min ORB, didn't work. Tried something else, didn't work. And something else, didn't work. Clearly emotional trading took over and I paid the price. This pretty much reiterates to stay away from trading at the open. But I know my mistakes. Too stretched from VWAP. The spread was too high. I got emotional.  

Later in the day it was much better. My favourite set  ups started to show up. On the 1 min chart I saw the 9, 20 and 50 MA crossing. Took it long a little to early and was stopped out. But went long again. Made myself a rule to not go long/short until the 50 hits the 20 MA on either 1 or 2 min chart. I then saw an ABDC pattern that formed. As per Aimen, I waited for another ABCD pattern with a higher D. I took it long. I also saw the 50 MA com swooping in to cross the 9 and 20 MA and it just gave me more confirmation. Took it long and was eventually stopped out when the stock went below the VWAP. 

Then even later, I saw the MA's crossing again and went short this time. 

AAPL

Saw the MA's crossing. But what I have observed here is that since I was so close to the VWAP, it was wasn't as aggresive. I also didn't move my stop loss at the time and didn't input the right amount of shares. 

ROKU

Using Aiman's ABCD strategy. Saw another ABCD being formed with a higher C/D. Went long and was eventually stopped out. 

TGT

Favourite set up popped up again. On the 1 min chart I saw the MA's crossing. Was going to take it short but miss it as my beautiful wife was talking to me, bless her heart. After a bit of cursing, I calmed down as I waited for the 2 min chart to do the same. I went short a little to soon and was stopped out. Again, after reviewing all these trades, I have decided to not make a move until the 50 MA crosses the 20 MA. Scaled out but unfortunately I had hit the wrong hot key at the end, taking out all my shares. 

This one I am posting as I am reminding myself that the stock does not always follow the rules. All MAs crossed over but not much happened. 

Good day learning. Will definitely study these MAs crossing a little more. I will also fight the urge to trade at the open and wait until I see A1 set ups. NO FOMO allowed. Won't trade tomorrow as I am back to work but will try out that reply mode when I get home. Thanks and have a wonderful day. 

 

Edited January 15, 2020 by MarkCB

[Mike B 624]

Keep up the good fight and maintain good risk management and you will survive. 

[MarkCB 49]

Hello Everyone

Was meaning to post earlier but was pretty busy after some trading today. UBER, JD, LK

JD

Waited for a 5 min . Took it long and road it all the way up until I got stopped out once it went below the 9 MA on the 2 min chart. Roku also had a nice 5 min ORB (better movement) but unfortunately I was looking at JD at the time. 

UBER

Tried trading UBER as a 2 min ORB but didn't go so well. But I had a really tight stop loss so my risk management was good. I then saw my new favourite set up on the 1 min chart and I took it long. I could have gone long soon when the 9 and 20 crossed over but I was waiting for the 50 to cross the 20 MA (one of my rules) for even better confirmation. 

LK

I learned something important about the MA cross over with LK today. Even though, the MAs cross, it didn't go my way. After this happened I watched a couple other stocks with the same pattern and it seems to be the same. Even though the candle is forming below/above the VWAP it does not mean it will go short/long. It seems as if the MA's are close to and are either above or below the VWAP, it will bounce off the VWAP. Now, if we a really stretched from the VWAP, this is not a concern as it has a while to go to the VWAP and bounce off or continue. 

Good day. Will not trade in the first 5 min tomorrow. Will wait for a 5 min ORB, look for ABCD patterns and will look for MA's crossing. 

Thanks for the support and feedback!

 

[MarkCB 49]

Totally forgot to journal yesterday as I had to leave again after trading. ROKU chopped me up yesterday. I did have some good trades but ROKU was brutal to me. I didn't watch the spread of the stock and I was too far stretched from any MA. This morning I made sure to watch the spread on the stocks and be patient when to take a position.

Today, was good overall. Only trade one stock today - LK

LK

Used Aiman's strategy on ABCD patterns. I was a little early on one of the entries. On the second try, I had a good entry but my stop loss was too tight. I didn't change it from my previous attempt. If I had allowed the 2nd attempt a little more room for the stop loss it would have been perfect. Ah well. I knew it was going to go long so I took it long again and it paid off. 

Not sure what I was doing afterwards but I did miss some of my favourite set ups. I think I was in the chat. A bunch of 9, 20 and 50 MAs crossing did exactly what they were supposed to do. I took a bunch of screenshots and I am thinking to make a separate thread on specifically that. I'll have to get more examples and data before I make such a post. 

Thanks for looking and have a wonderful day!

So I didn't hit my 1% target for the day. So I decided to trade some more. It was good at first and I actually hit my target. But of course I had to trade some more. And now I'm down to .01%.......

BYND

Noticed a double top and saw the 9 and 20 crossing on a downward trend. Wanted to go short but was hesitant as due to that 100 MA. But once it dropped below both the 100 and 50 MA I took it short and hit my target for the day. 

 I then noticed the the 50 crossing the 9 and 20 on the 2 min chart and decided to take it short. However, I didn't notice how close I was to VWAP and I got stopped out. 

LK

Now I am a little annoyed as I lost more than what I gained on BYND. Was looking for another set and found LK. Watched the 50 cross on an upward 9 and 20 MA crossing. Went long - too early. The 50 touched the 20 but the candle was still forming. It went the other way. Now I'm annoyed, impatient and long bias. Lost most of it...

 

Perfect example of why not to over trade. I just need a week of an overall gain. Have not have had one of those....ahh

Edited January 23, 2020 by MarkCB

[MarkCB 49]

Good morning. Decent day today. Took a bunch of trades: AMD, PCG, INTC, ADPT

AMD 

5 min ORB. The 1 min charts shows a hammer doji and then a doji above the VWAP. Went long on the 5 min ORB but it didn't work out my way. Good trade management so I'm happy.

PCG

LOL Andrew was cursing at this stock and I felt the frustration as well. If only I kept a cool head, there would have been a great entry right after I was stopped out with 2 hammer dojis forming. I got into the 5 min ORB a little early but when looking at the 1 min chart, there was definitely an opportunity go long when those 2 hammer dojies formed. I then saw the 9, 20 and 50 MA crossing for a long position. I definitely could have had a bigger stop loss, but I am not sure what I was thinking. Should've, would've, could've. 

INTC

Saw an ABCD pattern and took it long and was stopped out when the stock started to turn over.

I noticed the 9, 20, and 50 crossing in a downward trend. However, as per my rule, I did not take it short as it was really close to the VWAP. It would most likely bounce back from it. I went long and hit the wrong hot key and got it by accident. I went long again and after some consolidation it did jump up. I was stopped out again as it hit my stop loss. But I did immediately go long again as I saw the 9, 20 and 50 MA cross in an upward trend. Stayed with it until I got stopped out. 

ADPT

This stock was consolidating for quite some time but the 9, 20 and 50 were about to cross. Took it short as I was far enough from VWAP for it to bounce off. I did see the 50 on the 2 min chart and the 100 on the 1 min chart coming in but also far enough to make a decent profit. One thing I regret is not taking enough profit when it did hit 3R or even 4R. Ah well. You live and you learn. 

Again, learned a couple things and also confirmed some of my findings when it comes to the MAs crossing. Thank you and have a wonderful weekend!

 

[MarkCB 49]

Good morning

Good day today. Took 2 trades: INTC and LK

INTC

5 min ORB but I should have known that it was not a good idea as it was really wicki. Ah well

LK

5 min ORB. Took it long and rode it all the way up until I was stopped out at my moving stop loss. 

Good day and I did see a lot of 9,20 and 50 MA crossing. I just watched it happen as I had already hit my 1% target for the day. Again, more confirmation of findings, which also feels pretty good. 

Thanks and have a good day!

Edited January 27, 2020 by MarkCB

[MarkCB 49]

Came off a night shift yesterday and tried trading but I wasn't my self. I wasn't patient and didn't really care for any of the moves. Probably won't trade after a night shift.

Anyway, today was good. Traded 2 stocks: AMD, FB

AMD

5 min ORB, took it long and was stopped out at the BE. Tried to take it long again as I thought it was a pull back but I was stopped out. I did make a mistake and didn't change my original stop loss order and ended going short a couple shares. Got out once a realized....3 min later 

FB

5 min ORB. Took it long. I didn't like what I was seeing on the 1 min chart so I got out before the BE. Glad I did. Then I took it long again after I noticed that the 9, 20 and 50 MAs all crossed over a little earlier. Noticed the stock was consolidating and once I saw it pop up I went long until I got stopped out at my moving stop loss just below the 9 MA on the 2 min chart. 

Have a good day everyone and thanks for looking!

[MarkCB 49]

Goodmorning! Good end to the week and I'm actually up!

Took one trade today WWE

WWE

5 min ORB, took it long and the rest was history. Hit my goal and some more for today!

Was going to trade some more for practice but my favourite set ups weren't popping up so I will call it a day. Have a wonderful weekend and thank you for all the support! 

[Rob C 826]

2 hours ago, MarkCB said:

Goodmorning! Good end to the week and I'm actually up!

Took one trade today WWE

WWE

5 min ORB, took it long and the rest was history. Hit my goal and some more for today!

Was going to trade some more for practice but my favourite set ups weren't popping up so I will call it a day. 

Nice!  One and done(s) make the best Friday trades. Have a good weekend.

[MarkCB 49]

Good morning! Finally able to trade this week as I was at my other job. Took trades today TWTR and TVIX

TWTR

5 min ORB. Lost all its juice by now. Started to partial out but got stopped out just a little above my BE. I did have a hard stop order and forgot to change it after I started to partial out. Therefore, it automatically went short a couple shares. No big deal. Rode it short for a bit and then stopped out. Didn't loose anything so it's still a win in my books. 

TVIX

5 min ORB. Started to partial out way too early as I was a little distracted by TWTR. Oh well. Road it up until it started to pull back. I didn't like what I saw and pulled all my shares before it even hit my moving stop. 

I hit my daily goal and that's it for me today. I'm going in for nights tonight so I may not trade tomorrow, depends how the shift goes. Going to hang out with my family and then take a nap before night shift. 

Thank you for all for looking, especially to Mike B and Rob C for the constant feedback and support!

[MarkCB 49]

Good morning! Another one and done for my Friday. Wasn't planning on trading but I came home at 845 from work. Figured I'd try a little. Told myself that I would only trade 5 min ORB this AM. If I didn't see anything I'll just go to sleep.

Took one trade GILD

GILD

5 min ORB at the VWAP. It couldn't be any better. Watched it come down a little, formed its wick, went towards the previous candle close and I took it long. Waited to partial out this time and was stopped out at my moving stop loss below the 9 MA on the 2 min chart. Made 1.5% and I am good. Plus I need to sleep

However, I do wish that I had flipped my position after being stopped out. I did see the candle going below the VWAP and it was almost an engulfing pattern. I also watched the next candle open and make wick and come back down. I should have taken it short then. Ah well, shoulda, woulda, coulda. I'll be on the look out for those from now on as well. 

Thank you everyone and have a wonderful weekend! 

 

[MarkCB 49]

Almost forgot to journal again. I forgot too yesterday. It was a roller coaster yesterday. I was down, then up, then down, then up and then down at the end. I knew were I screwed up. Especially at the end. I thought I was looking at a 2 min chart but in fact, I was looking at a 5 min chart. Ah well.

Today was much better. Took 2 trades UAA, MU

UAA

Rising devil trade. Did get a little nervous as it wasn't going down as fast as I was hoping but made 1%.

MU

Saw MU perform a engulfing pattern on the 1 min chart and it went over the VWAP. The previous candle was also a hammer doji. The 2 min chart showed a hammer doji above the VWAP and the candle that was forming was also a hammer doji above the VWAP. So I went long. Got stopped out at my moving stop loss. 

Made 2% total today. Pretty happy. I could have made more with FB as I saw all the signs but was afraid of over trading. But it was such a perfect set up that I should have just taken it. Whatever, no FOMO allowed.

I am at a point where I am debating on going live. However, my job is asking me to do  8am - 4pm shifts for 2 months. I am probably going to stay in sim and do live trading when I get back. We''ll see. See you all Friday morning as I'm back on 2 day shifts starting tomorrow! 

Thanks!