Day Trading Journals for Brendon 'B'

[Brendon 138]

TENX break of HOD, waiting for hours…not cool

 

https://imgur.com/a/AkHMo

 

 

I was looking for a break of HOD, the stock was not ready and ended up holding for over an hour, very painful. Reason behind not getting out was the 5 min chart looked like a nice grind up all day. Not the best trading practice and as a result I sold around $11 afraid of another drop. I need more experience and discipline.

 

 

Next time I should wait for an actual break of HOD, not the anticipation. That way I would not have wasted my entire afternoon.

[Robert H 450]

Please don't take this the wrong way, but I'm curious about your entry signal. The ABCD looks to have consolidated around 1 PM, and made a new 5-min high at 1:10 PM. The entry would have been around $10.25, target at $11.13 and a pretty good risk:reward.

 

I recall Andrew saying that only the first and second momentum plays should be traded. Anything after is less prone to pop. But what do I know--I don't touch low float stocks lol. Thanks for sharing!

[Brendon 138]

I never take anything the wrong way, I trade horrendous sometimes with no explanations. For this trade I was looking for a pop above HOD and thought I would get it at that 3rd peak but she fell and I ended up holding the bag a while. It was more a quick pop scalp play, a minute or less so my entries are a little shady.

 

It failed to pop and continued to consolidate for hours, a better entry would have been around 1:15PM when it bottomed out like you mentioned but I was just in for a 10-15 cent scalp.

 

My lesson here is that it looks like not enough consolidation occurred to get that pop I was hoping when I entered a 2nd time. Word got out I guess by afternoon and the final squeeze happened but by then I was traumatized and got out fast.

 

My eyes were fooling me a little with TNEX, as the below Flat-top breakouts from today were a much cleaner squeeze.

 

https://imgur.com/a/I08G2

 

https://imgur.com/a/ao6Xm

 

https://imgur.com/a/zP3P6

[Robert H 450]

Saw you mention those flattops in the chat. I was too busy getting chopped up by other stocks to catch them lol. Awesome FL trade today, by the way!

[Brendon 138]

So I guess I can continue down this chain to post some of my trades.

 

https://imgur.com/a/7Mtwb

 

Today we are taking a look at 2 OMER trades from 3/22/18. This stock came up on our watch-list that Andrew put together, I very much liked the daily setup. First the SPY was selling off ferociously the previous day or two (which can only help push stocks down in my opinion, even though this stock wasn't following the SPY that closely). As usual I marked a few daily levels using the techniques Andrew teaches, 16.14, 15.92, 15.20. The stock could run up to the daily 200SMA so that was defiantly a concern to see were the traders were 'herding' together.

 

I noticed pre-market that the stock did touch the 200SMA daily twice but failed to consolidate for long and hold that level. The two times bounce gave a more sincere move that the stock was weak, perhaps to test the consolidation level in PM around 15.20 but that was too much of a move for me to hold until. So when the market opened I watched around VWAP, saw the 200SMA on the 1 min and decided to go short for a quick drop to that level. If I saw that target, thousands of other traders saw it as well and could pile on...as the order flow and L2 was becoming bearish very quickly. The stock moved, consolidated, and fell lower to my previously mentioned daily levels. My stop would have been a 5 min close above the VWAP. Risky trade to go so early after open, but the double top PM, 200SMA on 1 min, and daily levels to the downside helped me decide to act short. Being so risky I quickly covered my entire position as it was close to a 80 cent move.

 

I took her out to brunch as well around 10:10AM or so, saw a VWAP false breakout forming (long wicked 5 min candle and snap below VWAP on next 5 min candle) decided to go short to my 16.14 level, and the stock dropped exactly to that level, I covered and was done for the day. My stop would be have been another 5 min close above the VWAP.

 

These trades involved eyeballing the T&S and L2 very closely to see were the order flow may be headed.

 

Of course the stock continues to plummet down for the rest of the day, another VWAP false breakout, 2nd attempt, then continues to trend below VWAP, another strat Andrew teaches..but I was too busy at the gym with my other gains for the day to continue trading.

[Robert H 450]

Awesome trades, Brendon! Thanks for sharing.

 

I took the VWAP reversal move in between your 1st and 2nd trade. We combined for a hat trick on OMER.