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Valentin

Valentin's Day Trading Journal

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Hello All,

I would like to welcome you to my Day Trading Journal, where I will be going through trades, thoughts, ideas, notes, stats and much much more.  I am still learning and trying to figure out my own process, so apologies in advance if the posts/layouts are constantly changing until I find my way. 

Like all of us here, I am trying to get better and would love all feedback, good and especially the bad.

I am ready for the long journey and I couldn't be more excited to start it here with the BBT Community!!

Day 1 
9 Tickets
2 Symbols

1. CRWD - LONG - ORB5

Long biased going into this one, opened weak but held 51. Plan was to wait for breakthrough, and retest 52 (pre-market levels) but I jumped in when I saw ORB-5min, ended up chasing filling 10c higher than should have. Original STOP was at 51.8 (VWAP at time of entry on the 1min) but I ended up adjusting into 2 partial stop losses, took half off as it broke through previous low on 5m candle and adjusted the other with a trailing stop just under the VWAP and got stopped out.

Improvements : Didn’t listen to my own plan, idea was to wait for it to breakthrough 52 and then retest breakout, stock did exactly that. Would've had a perfect entry with very low risk, instead chased an ORB and missed the ABCD completely. Need to stick to the game plan.
 

image.thumb.png.f9be2bdf741c4bb99a4d725cf13bb5c9.png

 

2. NIO - LONG - Reversal (Double Bottom)

Active last couple of days, gap and crap at the open down to previous day close at 3.83, looking to play this as a potential double bottom but got trigger happy and jumped in trying to catch the early reversal back into VWAP and over 4 with previous day close as stop . Scaled another 1/3 as position went my way, but quickly reversed and consolidated. Final 1/3 added as we hold higher low with stop just below consolidation. Ended up adjusting a stop to break of consolidation at 3.86. Had to go to work and ended up lowering my stops by 1 and 2 cents.

Improvements: Stop being biased and let the price action decide what you do. Realize I was waiting for this bounce and try to convince myself rather than waiting to see it play out. Need to work on my R/R calc going into the transactions.


image.thumb.png.be75e8d79f6a61823f64d9cf901d5d92.png

 

Trade ideas:

  • AMD wanted to short at 7:14 at 48.6. Head and shoulders, Green to Red. R/R isn’t great though  48.6 short, 48.8 stop, 48.4 target
  • CRWD(7:18) looks like this is point D. Should have been buying at 52 at 7am at point C into this level at point D. Completely missed ABCD move.

As you can see from the above notes...there is lots of improvement needed.

Does anyone know how to bring up historic execution on chart? I am in Vancouver and at 9:00pm (12:00am EST) the chart re-set and current day executions disappeared



 

Edited by Valentin
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Day 2 - Jan, 7, 2019
13 Tickets
3 Symbols


1. TSLA - LONG - Reversal (Double Bottom)

TSLA hit all-time in pre-market, news of them opening Gigafactory. Stock opened weak but bounced of previous all-time high and quickly came up, looked like it was gaining strength on higher lows. Took a 1/2 size position with stop just below previous candle low, expecting to break through VWAP and retest highs. Sold half as it started to look a little weak, rebounded of VWAP (would have been perfect place to add). Took other half off at target on the retest of all-time high and 2R.

Good: patient on the entry, followed game plan

Improvements: Should have added more size - few great opportunities after my initial entrance.

image.thumb.png.8e74b6caf77a411c2e69c8df2369ee9e.png




2.  SQ - LONG - Chasing (Not in Game Plan)

SQ jumping on analyst upgrade in premarket, weak on open with overall market but recovered and had a nice run up with increasing volume. Dipped down to 65 which was pre-market high, thought this would hold so went long risking 1R with stop just under VWAP at 64.6. Bounced for 1 candle and was instantly wrong - didn’t adjust stop kept as is and got stopped out.

Improvements: Setup isn't in my game plan, shouldn’t be taking this setup. R/R was off. Better play would have been ABCD with the area I got stopped out at being C - low risk entry as it reclaims and holds VWAP (yellow square)

image.thumb.png.6a12ea8607f38c879947a1844ca8a666.png



3. TSLA - LONG/SHORT - Chasing (Not in Game Plan)

Was at work and saw TSLA come up on the news and decided I would take a position (1R) as its hitting all-time highs hoping it would continue with break of trendline as stop, stopped out. Continued watching it to see if we would recover and saw higher low so I went in for 1R, with stop just below previous drop. Stopped out on drop and then quickly realized this was a failed bounce and shorted for a quick 1R scalp. Came up again and made a lower high so I shorted for minor scalp trying to take back some losses.

Improvements: Not in game plan = DO NOT TRADE. Overtrading, no clear signals was just gambling at this point. Also was trading at work, need to stop this as I'm not dialed in.

image.thumb.png.836cd864a9fd4456f78af3e63d598440.png


Today's Takeaway: Overall terrible day in regards to following game plan, but lots of lessons learned. Need to stop "hobby trading" and get serious.

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Day 3 - Jan 8, 2019
10 Tickets
4 Symbols

1. NFLX - LONG - 5min - ORB5

NFLX had a nice spike up then consolidated and continued moving up. Took it long with half size on a 5min ORB, VWAP as a stop. SPY was strong and price action was ok, thought we could see a retest of previous day levels around 336 as target. Trade quickly went against me and got stopped out.

Improvements: I notice my ORB5 setups aren't great, feel like I am always buying the top. Need to get some more trades in and run stats to see if this one works for me, might be better off as a momentum scalp. Would feel more comfortable waiting for ABCD. Also think I need to wait for breakout of candle wick and not the body.

image.thumb.png.58066126bbf83eeea1aa6b45467bd2e4.png


 

2. M - LONG - 1min - Chasing (Not in Game Plan)
Super sloppy trade. Didn’t do any research, and wasn’t looking to trade this…but heard this one called out in chat. Ended up going in for 1/4 position with stop loss just below VWAP (8c risk). Still new to DAS, made a mistake when setting stop loss so it didn’t take me out. Covered at market, for a 0.6R instead of 0.25R.


Improvements: Need to have my own independent ideas not just jump in when I hear something in chat - usually pretty good with this, think the lack of sleep and no pre-market prep interrupted my thought process. Also need to get more comfortable with DAS, putting in orders and setting up hotkeys.

image.png.84f5d46c578ff868909d53078a7fd3ba.png

 

3. BYND - LONG - 1min - Reversal
BYND had a big drop at open tested previous day close at 83.88 and continued to 83 then quickly rebounded to pre market levels. Came back to same level and had a fake break of 83. Took 1/2 size right at previous day close level expecting a move back into VWAP. Risking $1 on break of 83. Adjusted stop on half position to the break of daily level, got stopped out. Hindsight I should have added here, R/R is much nicer on the bounce off this level. Trade went my way and I took profits off at

Good: Entry was solid, had nice patience waiting for this to play out, solid R/R
Improvements: Need to have a better rule for adjusting stops, trying to minimize risk so cutting losses as soon as position goes from Green to RED, its screwing up my R/R calc and overall profitability if trades go my way.

image.thumb.png.742552de18e3e54e71a685a8d253f19b.png


 

4. ROKU - SHORT - 1min - ABCD
ROKU weak from the open making lower lows all the way down, A to B. Shorted 1/4 position at 134.75 (initial order 134.8) expecting a failed bounce, with a stop just above the previous high on the 1min.  Got stopped out as ROKU retraced back to VWAP for fake breakout and then down to my initial target.

Good: Followed risk management rule of minimizing size when i'm not on.

Improvements: Had the right idea, but got in too early. As I had smaller size on (risk management rule - didn’t do pre-market prep) I could have held a little longer and waited for the idea to play out, and added once point C was confirmed.

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Today's Review
Another sloppy day. Started with late night, rough sleep, tired, no meditation, no pre-market prep which had a big impact on how I was feeling physically and mentally. 

What I did poorly: DID NOT DO AM ROUTINE, Jumping in and not waiting for the setup to play out - be patient wait for the A+ setup.
What I did well: Managing risk and cutting down size
What to do tomorrow: Go through trade checklist before entering position, make sure it is in your game plan and wait for it to setup!








 

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Day 4 - Jan 9, 2019
18 Tickets
3 Symbols

 

1. KSS - SHORT - 1min - ABCD

Big drop in premarket on holiday sales being down. Came down to the premarket level at 44.8 and bounced, took a starter position (1/4) with stop just above VWAP and target at 44.6. Continued closer to VWAP and added as planned, at point C looking to reject VWAP and continue to D. Made its way back down and consolidated around the same 44.8 level. Added another partial looking for it to break the level and continue to LOD, risking previous candle high (HINDSIGHT - I should have been looking to take some risk off at this level for 2R). Price broke through 44.8 and just missed my target profit by 3c, came back up and I got stopped out for 1/3. Continued through the VWAP - second stop and final stop which was adjusted to a daily level.

Good: Better job letting it play out before I look to short - 2nd entry was solid R/R, just not enough follow through.

Improvements: Had daily levels market but seemed to have ignored the 44.8 level, changing support/resistance lines to make it more obvious. Stop was too far on last cover for an ABCD play. I knew I was wrong once it broke VWAP and held - need to just get out and reassess.


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2. BBBY - Short - 1min - Failed Pop (Not in Game Plan)

Dropping all morning on missed EPS and withdrawing guidance, short biased. Strong continuation as market opened, found a bottom at 13.5 and reversed back into VWAP. Shorted as it seemed to be rejecting right under the VWAP and 14 level, consolidated for a few minutes and ran through my stop just above VWAP. Taking a look at the bigger picture, this could have been prevented by waiting for a play from my play book - formation of ABCD.

Improvements:  Need to be more alert - missed the ORB to the downside, and could have played this as an ABCD short with rejection of MA and confirmation of VWAP breakdown as a better setup.

image.thumb.png.cc1e24530c9f8a16c301b38e457baba9.png


 

3. BBBY - Long - 1min - VWAP Trend Trade

After getting stopped out, I thought this could be a short squeeze as it broke through VWAP   (50%+ short interest) so flipped position and went long 1/4 size just above VWAP, with both MA's and daily level of 13.88 as stop. Added to it as we consolidation but looked like holding VWAP. Quickly broke and got stopped out. Should have stopped out full position but I kept half to see if previous low would hold. Not good trade management

Improvements:  Got in too early, could have illuminated this play if I waited for it to hold VWAP and gotten in once it has confirmed the breakout. Poor trade management as well, widened stop even though price was going away from me. Going against the catalysts and trend, need to do better job of looking at bigger picture.

image.thumb.png.8e285884245bea8e995b619ffb68cc80.png


 

4. AMD - Long - 5min - ABCD

AMD running up to all time highs at 49.9, bounced back to a daily level at 49.45 and consolidated there for a few bars, went long 1/2 size as it broke previous 1 and 5min high. Added another 1/2size as it help MA and started coming back up to previous high on the 1m chart looking like ascending triangle. Took  1/5 off at first profit target as we approached the 49.9 level. Locked in another 2/5 thinking we could reject the mental 50 level and left final 2/5 at break even in case we see continued strength and follow through the 50, stopped out.
 

Good: Good patience on the entry, seems like a high probability play.

Improvements: Poor R/R, need to run stats on my ABCD entries and probability of them in order to consider taking this.

image.thumb.png.b1914b9fc180bedcd868ec641947b61b.png
 

Today's Review
Felt great mentally and physically in morning, although shorter sleep - 5k run and meditation put me in the zone, need to keep this up.

What I did poorly: Poor R/R and trade management, missed a few nice opportunities.
What to do tomorrow (again): Go through trade checklist before entering position, make sure it is in your game plan and wait for it to setup!

 

 

Edited by Valentin
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Day 5 - Jan 10, 2019
16 Tickets
2 Symbols

 

1. ROKU - Short - 1 min - Bear Pennant(Not in game Plan)

Went short as it consolidated and looked like it was forming a bear pennant, stop right above VWAP with targets at 129 and 128.5. Entry was premature , should have waited to see if it was going to break down first. Bounced through VWAP and stopped me out.

Improvements: Wait for the setup to complete rather than going in hoping for it to work. Higher probability play, but also little bit lower R/R.

image.thumb.png.abb8e415f0a9df63bc1f0c0ec94aac1f.png
 


2. ROKU - Short - 1 min - VWAP Fake Breakout

After stopping me out price came back down through VWAP. Went short 1/3 size thinking this would get rejected off VWAP and break the low of day, risking previous high. Consolidated a little further with volume picking up, realized this could be a VWAP Trend Trade and adjusted stop to get out and start planning and entry for the long.

Good: Tight stop, was open minded and not biased

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3. ROKU - LONG - 1 min - VWAP Trend Trade

ROKU was breaking through VWAP and previous high on solid volume -  was looking for this to break through and then come back to test 130.50 support for a long.  Didn’t get the fill at so chased it up 10-15c at 130.9 (fat fingered a double entry accidentally) with 132 as target. Moved up quickly took partials on the double entry at 1R and held my main position. Dropped down on a big red candle down to test MA and held - this would have been a great place to add with stop just below VWAP/130.5 support. Sold the rest of the double entry position as it tested that same level at 131.5. Continued up to my target at 1.32 took 1/4 off, wanted to see if it could continue up to test high of day at 133. Didn’t like price action, took off another 1/4 and another (1.8, 1.95R) as we saw indecisive candle with large volume. Left final 1/4 on at 1R.

Good: Was patient with entry waited for it to hold over VWAP

Improvements: Could have wadded to my position on the nice drop into MA at 130.75. Need to figure out executions/hotkeys on DAS - went double size accidentally and got lucky in went in my favor

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4. BBBY - LONG - 1 min - VWAP Fake Breakout

BBBY went short as we came up to VWAP and looked like it rejected, held VWAP and then broke through on Volume taking out my stop. Accidentally doubled my order and flipped positions, sold next candle on break even.


Good: Followed risk management and cut trades quickly

Improvements: 50% Short interest = potential short squeeze, didn’t do my research and realized this after the fact.

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Todays Review

Overall - Need to be more selective with my trades, and have more conviction. Jumped around through 3 different setups, short, short and then long. Although the ability to keep open mind is good, I would've completely skipped first 2 if I was more patient and waited for the A+ setups.

Couple of errors today, double entry 2x, must be something wrong with my order/hotkeys - need to adjust this.

What I did poorly: Poor R/R and jumping in before the setup is confirmed
What to do this weekend: 2 morning trading sessions in SIM, create clear outline and checklist for setups - entries/exits.




 

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Day 6 - Jan 13, 2019
26 Tickets
3 Symbols

1. TSLA - Long - 1min - ABCD

TSLA strong break through previous levels and all-time high at 498.4 and 500.  Waited for it to pull back into the 500 level and hold, got long full size with loss of previous candle as stop, profit target up to 505+. Ended up fat fingering a stop loss entry which took me out at the market before it dropped - worked in my favor, but trader error.

Improvements - Need to nail my executions, made a trader error and fat fingered a wrong order. Thinking I should wait a little longer and let the trade to start forming and get in, jumping in to early. 

Ideal Trade: Waited for VWAP, MA's and support to hold and break at 9:55 - much better R/R from here and more defined risk level.

image.thumb.png.1a2b298b8756f90bd4ccc7f4299b461a.png


 

2. ROKU - Short - 1min - Breakdown, Momentum (Not in Game Play)

ROKU was coming up to a triple bottom with 128 being the daily inflection point. Broke through on rising selling volume so I shorted full size with top candle as stop - good entry, not a great follow through though. Continued down in my favor and I started covering a little to quickly at 1R. Covered more at 1.5R and then another as it looked like it was holding the 126.5 Level, with final 1/4 position at break even. 

Good: Quick entry and exit on momentum play

Ideal Trade: ORB-5min and rejection of VWAP at 9:36 and addition another one as it fails to bounce, stop just above 130.35 with 1st target as 128 daily level, and continuation through.

image.thumb.png.9eb5e2f90cef0890e3143026c05f77aa.png

 

3. BYND - Long - 1min - Breakout Pullback, Momentum (Not In Game Play)

Initially was short biased, with 102.30 pre market high as resistance. Opened strong, and had a nice follow through 102.3, came back down and held 103, bought the 1 min pullback for 1/2 size with previous low as stop, with plenty of room to 108 daily level as target. No reason to start covering other than it started to feel a little extended up 10% - so I took 1/4 position off (0.7R - too early) and continued to cover 1/4s at 1.5-2.7R. Ended up covering way too early - made it up to 115, and 122 after hours.

Good: Didn’t let my bias take control, nice entry on momentum.

Improvements: Poor trade management - covered to early with no reason. Should have let this play out to my target of 108, should have been adding rather than taking off on 1st cover.

image.thumb.png.96dc5defbbcc3cbae7fae89d0c1b5103.png

4. TSLA - Short - 5min - Head and Shoulder (Not In Game Plan + Trading from Work)

Was watching this waiting for a double top or continuation, little biased to short side. Took a full size short as it looked like it formed right shoulder, with stop just about consolidation. Adjusted partial stop and left 1/2 on. Ended up covering in two 1/4 fills at -1.3 and 1.95R.

Improvements: let losers Run way too long in consolidation phase, had break even few times was even in the green - if Idea is wrong it’s a good idea to exit and re-asses the trade. Stop trading from work

Ideal Trade: none, this was too strong and didn’t show much sign of continued weakness. Stay out.

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5. TSLA - Long - Breakout Pullback, Momentum (Not In Game Plan + Trading from Work)

TSLA was looking strong heading into close while I was shorting, as soon as I got stopped out on short I was looking for Long entry, Ended up getting a very good fill on 1/3 size on the 320 breakout pullback with defined risk below previous consolidation. Went in my favor instantly so I started selling (too early) into 2R. Consolidated again and purchased another 1/4 on pullback with decreasing selling volume. Didn’t really have a exit strategy for this one, just riding strength into close.

Improvements: Inconsistent sizing, trading from work again and distracted - need to cut this out.

Ideal Trade: Similar entries, however with more size. 1R at at first purchase 520 and should have added another 1R as we consolidation and held on my 2nd purchase.

image.thumb.png.6980ef0e7731aa95f45df776f9dad6d1.png

 

Today's Review

Overall - Need to work on my game plan, as I am taking a lot of trades which I haven't pre-planned for, but I like the setup. Another error today, guess this is expected as I just switched to DAS - but definitely need to figure this out before I can size up. Note: Momentum trades (Breakout, Breakdown...) where risk isnt clearly defined might be better off treating as a quick scalp with lower risk but also lower exepected reward. 

What I did poorly: Inconsistent sizing
What I did well: Few nice trade ideas, with solid entry execution 
What I need to do: Incorporate a time slot in the day to work on 1 specific task for the day. Next on list - DAS HotKeys/Configuration

Edited by Valentin
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Day 7 - Jan 14, 2019
21 Tickets
2 Symbols

Red Day

 

1. ROKU - Long - 1min - ABCD

Got in on ROKU for 1R as it came back into the 135 daily level and VWAP with 1/2 size stops at each of those levels. Early on the entry for the ABCD thinking VWAP would hold. Went Right through my strops - should have seen the huge engulfing candle on the 5min - bearish.

Good: Followed my risk rules - set my stop levels and let them take me out.

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2. ROKU - Short - 1min - Failed Pop (Not in Game Plan - FOMO)

Big reversal green to red, was watching this and planning to short as it bounced off previous day close at 134 into 135 with just over 135 as stop. Missed my entry, and then missed another entry at 9:51 as it retested previous day close level. CHASING HARD I shorted first green candle expecting a failed bounce - .60c risk at 133 daily level and MA.  Covered 1/5 at 1.6 R and then another at 0.7R as it started moving away from me - held 3/5 until my stop loss which ended up making it a red trade.

Improvement: Major case of FOMO, no R/R calc, just jumped in not wanting to miss the move. Realized this was an impulsive entry, should have taken profits right away - got greedy and left most of position off for a stop loss. Had this at 2.5 R (highlighted in yellow) on an impulse move - TAKE IT AND RUN…….

Ideal Entry: Wasn’t a great setup here at all - not in my game plan, would be overtrading and chasing at this point. Ideal Exit highlighted in Yellow 2 - 2.5R
 

image.thumb.png.24b62bdda9b689c6987f42b86feffddc.png


 

3. ROKU - Long - 1 and 5min - Double Bottom, Reversal

Got stopped out on my short and realized this could be a double bottom and reverse into VWAP, went in with 0.4R size with 132 as stop and VWAP and over as profit target. (As I entered I had a had a bad feeling, just rejected 133 and MA and failed to make a higher high - but kept my position). Consolidated and held 132 level so I added 0.6R to make it full position size. Took 1/3 off as it bounce up to VWAP, came back down on decreasing selling volume - added the 1/3 back on with loss of 133 as stop. Covered 1/5 as we were just breaking consolidation to upside - not sure why. Then started covering as we moved up to VWAP profit target. Left 1/5 to see what would happen - took it off as I had to go to work and looked like it was breaking down.

 

Good: Took a setup that I am comfortable with, scaled in as planned on confirmation of it working.

Improvements: Could have added more size rather than selling on the consolidation at 133 - made for a perfect entry with scalp up into VWAP.

image.thumb.png.66d92f642bedf4bad909c683a565c748.png


 

4. BYND - Short - 1min - Chasing (Not in Game Plan - FOMO)

Brutal. BYND very active, watching it jump up and then drop all the way down, good job avoiding FOMO on first one. Came back up and rejected VWAP and I had in my notes:
"7:10 - looking like VWAP Short, too strong of a stock tho no clue what this thing could do"
I should have just left it at that. Ended up FOMO shorting on failed pop but neglected the daily level of 120.8 which held. Covered 1/2 right away as I knew I was wrong, let the rest play out until daily target hoping this would come back and bring me to breakeven.

Improvements: Stop FOMO'ing, there are plenty of plays out there - wait for the A+ setups. No R/R calc her, luckily panic covered to keep my loss at 1R.

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Today's Review 
Overall few good things and am very happy I am being consistent with my journal entries. Have learned a lot and am excited to monitor the process in order to continue to grow and develop.  Having said that, going through my plays I am very unimpressed with my trading. Back to my hobby trading habits.

What I did poorly: Didnt follow my Game Plan Setups, FOMO
What I did well: Stuck to my stop loss
What I need to do: Incorporate a time slot in the day to work on 1 specific task for the day. Next on list - DAS HotKeys/Configuration

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Day 8 - Jan 15, 2019
14 Tickets
2 Symbols

Green Day
 

1. SHAK - Long - 1min - ABCD continuation (Not on Watchlist)

Missed SHAK on the perfect bounce of VWAP (not on watch-list). Heard it called out in Chat on the break of HOD. Waited for it to pullback and hold. Got in coming into previous high with 1/2R (not great) with stop below previous low for .50c. Started taking profits 1/2 position too early on spike through previous high, didn’t want to give profits back on a trade I wasn’t planning. Then took some more off at 2R and continued selling partials as it came up to 71.45 daily level.

Good: Right idea riding the continuation, selling partials on the way up paid off.

Improvement: Could have added instead of taking partials on the 1st sell.


image.thumb.png.e519fb7b53337bba0635d472f9e4a188.png

2. TGT - Long - 1min - VWAP Trend Trade

Big drop due to weak holiday sales and then traded around VWAP for most of premarket and opened up strong through premarket levels. Reversed down and consolidated below VWAP. Entered tiny position (0.2R) in as we broke through VWAP with 117.25 premarket level as stop. Quickly went in my favor and started covering at 2R + toward the target of 118 Pre market level. Left tiny position on to see if we could continue on throughout the day, with 2R as my final stop loss.

Good: Had the right idea, good entry with very defined and limited risk.

Improvements: Continuous problem of position sizing, will be putting in a rule with penalty if not followed into Game Plan over weekend.

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Todays Review

Overall was a good day, patience played off here..had temptation to get in a few times with some high flyers but held off and ended up being the right thing.

 

What I did poorly: Inconsistent Position Sizing
What I did well: Stuck to my setups, and my game plans
What I need to do: Incorporate a time slot in the day to work on 1 specific task for the day. Next on list - DAS HotKeys/Configuration and then Position Sizing rule and penalty

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Day 9 - Jan 17, 2019 (Took Jan 16 off - fatigued, thinking it would impact my trading)
14 Tickets
2 Symbols

Green Day
 

1. LK - Long - 1min - Breakout Pullback (6:34 Did Not Wait for Price discovery rule)
Bought LK as planned - broke through ATH at 49.4 then came back to retest, got long 1/2 size on the pullback - 49.2 as stop below VWAP, with 40c risk. Profit target wasn’t defined should have been 2R. Started taking profit way too early 1/3 at 1R and then another 1/3 at 2R. Watched it come back and hold 50  thinking to go long on the dip - ended up chasing and buying at ATH and broke against me for stop loss on 1/2 position and panic sell on other 1/2.

Good: Was a good entry with defined risk,
Improvement: Need to have a better game plan going into this - would have been a 2R had I sold instead of my last BUY. Should've been a good trade, but I ended up buying the top. NO DEFINED PROFIT TARGET.


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2. PINS - Short - 1min - VWAP Trend trade
Watching PINS with a long bias, opened up weak but held the 23.6 daily. Failed bounce through VWAP  on falling volume and right back down to the 23.6 level. Looked like it was forming descending triangle on 1min so I shorted as it bounced up into VWAP with stop just above VWAP. Told myself I would add to my short as it breaks down. Broke down, didn’t add, covered instead (fear to give back profits - happened with LK right before the this trade). Took profits as it dropped to my target for 2.5R and continued to take partials on the way down to 4.4R on the hammer. 

Good: Really like my entry with defined risk

Improvement: Terrible position sizing, great trade idea and setup, but absolutely terrible sizing. Noted that I would add to my short as it broke through descending triangle, but instead I covered (FEAR - 5 candle looked like potential bottom, hammer)

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Today's Review

Happy with my trades today, entries / trade ideas are getting better. But still having troubles with my trade plan and exits. Also notice i am selling too quickly and not always following through with my plan - in part due to confidence and also wanting to take profits to stay green. Think once I get more trades and data I will be able to justify with numbers specific setups and take the risk when i have the edge.

 

What I did poorly: Inconsistent Position Sizing, need to have a exit strategy
What I did well: Good entries, saw opportunity and got in
What I need to do: Position sizing / going through trading checklist to ensure my targets are clearly defined. 

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On 1/17/2020 at 5:38 PM, Valentin said:

What I did poorly: Inconsistent Position Sizing, need to have a exit strategy

Have you ever considered using Kyle's hotkey for position sizing based off of $ risk per trade or BP %? I highly recommend it. The hotkey completely changed how I felt upon entering a trade. I no longer ever had to worry about having too large of a size because I was always risking the same amount.

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On 1/19/2020 at 3:59 PM, Mike B said:

Have you ever considered using Kyle's hotkey for position sizing based off of $ risk per trade or BP %? I highly recommend it. The hotkey completely changed how I felt upon entering a trade. I no longer ever had to worry about having too large of a size because I was always risking the same amount.

Mike thanks so much for the heads up. Automating this would really help me out with controlling my position sizing allowing me to better calculate my expected risk and expected P/L. Excited to try this out, think this will make my life a lot easier!

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Day 10 - Jan 21, 2019
7 Tickets
1 Symbols

Green Day
 

1. PINS - Short - 1min - VWAP Trend Trade
PINS weak from the open, failed to hold above VWAP and then made a lower high which was first bearish sign, however volume was increasing on buying side so I waited. VWAP continued to as strong rejection so I took a short as it moved away from VWAP and broke previous level, with stop just above VWAP. Worked in my favour instantly so I took a few partials (1/4 hotkey) at 1 - 2 R, left 1/4 of full position until 3R for profit target.

Good: Had the right idea, high probability setup
Improvement: Could have held a little longer in order to let my idea play out. Panic covering too early and reducing my profits because of it. 

 

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Today's Review

Missed premarket research and market open as I am house sitting this week - lots of travel. Trading wise I had good patience by not jumping in on a few plays that seemed nice. Waited for high probability setup.

What I Need To Do: Take a look at hotkeys to automate position sizing. (Kyles Hotkeys)

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Nice PINS trade. More automation will help with taking too many partial profits. It reduces the stress where we all have a limited reservoir to tap from. Kyles hotkeys will help. I don't use his hotkeys, but I have something that has the same function (though much more rudimentary). I know having a hot key that auto sets your exit at break even after your first partial helps let you sit back and wait for a better place to take profit.

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Day 11 - 23 (January 22 - Feb 7th, 2020)

Had to take some time off trading due to travel and Work. Partially planned break, expected to at least do some prep and get a few solid hours in - didn't turn out that way.

Ended up trading 2 symbols over 3 days from work. Absolutely brutal, unprepared, over traded, FOMO, chasing......

Will be posting executions when I have some time to go back and review.

 

 

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Day 24 - Feb 10, 2020
32 Tickets
5 Symbols

Red Day - Max Loss 
 

1. PINS - Short - 1min - VWAP Rejection (Chasing)

2nd day play, Huge gap and fail at earnings. Saw it drop right to 24.05 daily level and was initially thinking long at support. Started bouncing and I has huge FOMO to shorted in anticipation of VWAP rejection with stop just above VWAP and a little room. Ended up holding my loser and not cutting.

Improvement: DO NOT FOMO - Wait for price discovery and let the setup form. Terrible trade management, Need to cut losses quickly, especially off a poor setup.

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2. UBER - Long - 1min - VWAP Trend Trade

Beat estimates and guiding to be profitable by end 2020. Broke through previous day high of 41 and came back down to test VWAP, bought into VWAP bounce and added once it confirmed and broke through 41 again. Volume dried up and I panicked and took a few partials off, and continued taking off until previous high which was initial target.

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3. AAPL - Long - 1min - VWAP Trend Trade

Was on secondary watch, strong push at open, then came back down and tested 317 level (VWAP and previous consolidation). Went long as it broke through previous candle high with loss of VWAP and previous candle low as stop. Went in my favor and I started selling to soon - fear of giving back profits from previous. Sold into high of day thinking could reject and come back down to VWAP. Did exactly that, would've been another great VWAP bounce off similar level - but I had to leave for work.

Good: Happy with entrance on confirmation vs trying to catch bottom.

Improvement: Need to have a more defined exit plan. R/R based on previous high was poor.

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4. LB - Long - 1min - Chasing (Ascending Triangle - Not In Game Plan)

Ascending triangle was called out in chatroom, looked like it had potential holding over VWAP with room to run on the upside. Ended up being a false breakout and got rejected real quick by moving average. Had hope this would hold at VWAP - no hold so I exited. Ended up fat fingering a hotkey and shorting/covering ax extra tier at the end (break even on mistake).

Improvement: Need to stick to my own watch-list. Got excited and over traded off of someone's call - DO NOT DO THIS.

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5. TSLA - Short - 1min - Failed Pop (Not In Game Plan)

TSLA has been very active, short biased going in as seems overextended but realize this can squeeze hard. Was watching the 787 daily level - held a few times and finally broke. Shorted 1R at failed pop but ended up chasing it down for a poor entry, stop just above previous high. Price went against me and quickly stopped me out just over 787 (level held and ended up being a good call, just too early - Opportunity would be short once 85 is rejected and breaks the previous support)

Good: Had the right idea just got in too early and chased a poor setup that’s not in my game plan.

Improvement: Need to be patient, let it play out.
 

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Today's Review

Took 2 weeks off and definitely felt it. Wasn't as sharp mentally, and felt quite a bit slower. Discipline wasn't there - seems as if i was over excited to be trading again and didn't follow game plan. Lots to catch up on.

 

What I did poorly: FOMO/Over trading, not waiting for my setups, position sizing, few hotkeys mistakes
What I did well: Stick to my max stop loss rule and not trade after.
What I need to do: Have a much better plan for next time I am away. REPLAY - get replay going in order to multiply experience. 

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