Valentin 84 Posted February 12, 2020 Day 25 - Feb 11, 2020 14Tickets 3 Symbols Green Day 1. UAA - Long - 1min - ORB2 (Not In Game Plan) Weak earnings and guiding lower sales, down over 15%. Short biased, got FOMO and shorted break of 17 premarket support - shorted too early and broke my rule of not waiting for price discovery (5m). Ended up shorting the bottom and covering half just as it broke 17.1 daily level. Left other half on, and then added and covered as it moved just into breakeven thinking it might hold previous low. Improvement: Need to follow my rules - 5min price discovery minimum. 2. UAA - Long - 1min - Failed Pop Shorted too early the first time, so waited for a failed pop on declining buying vol. Shorted just over 17 level expecting a break toward 16.55 daily level. Covered partials at 2R and then some more at just over 3R, Left the rest to stop out at break even. Good: Patience on the entry, nice planned short after reassessing my initial entry. improvement: Taking profits to early - Could have left my initial stop loss on and waited for price to hit my target later in the session. 3. S - Long - 1min - Breakout (Not In Game Plan) Sprint up 75% + on merger deal with Tmobile, was thinking this could break and retest pre market highs at 8.5. Long on the breakout with stop just below consolidation level. Ended up being a fake breakout and went consolidated I adjusted stop and got out as It looks like it was breaking down. Canceled stop loss and executed manually, stop loss wasn’t working caused some slippage Improvement: Overall poor trade. Can't be chasing the breakout especially on an initial R/R of under 1. This should not have been a trade taken. 4. AMD - Long - 1min - Breakout Pullback AMD breaking ATHs, took it on a pullback into the 54 level with stop just below and target at 50c+ selling on rallies. Covered 1/4 as it retested previous highs and then 1/4 on next leg up, and another 1/4 as it retest the previous high level. Good: Food patient entry with defined risk Improvement: Need to have a better exit strategy for ATH trades, as I got lucky on these low R/R partial exits. Today's Review Overall green day, but still making sloppy errors. Chasing and FOMO plays What I did poorly: FOMO and chasing What I did well: Couple of nice entries What I need to do: Review my Trading Game plan. Share this post Link to post Share on other sites
Valentin 84 Posted February 13, 2020 Day 26 - Feb 12, 2020 15 Tickets 1 Symbol Green Day 1. LYFT - Short - 1min - Failed Pop LYFT earnings beat but kept guidance unchanged, investors were looking for more following UBERs shortened timeline to profitability. Was thinking long at the open off the 50 daily level - but failed to push and hold through VWAP with upper wicks rejecting. Got short 1/2 size with previous high as stop, target 2R+. Bounce off previous level and shorted as it continued into VWAP expecting to reject - confirmed rejection could be a good idea to add more risk. Went to cover fat fingered a sell - instant cover for break even. Started covering into 2R+. Good: Instant cover on mistake entry, although would have been profitable it’s a good habit. Improvement: Need to have better exit strategy - too many unplanned covers. 2. LYFT - Short - 1min - Breakdown (Not in Game Plan) Was watching waiting to see if it would have another leg down thinking could be putting in a Bear Pennant on the 5 min, with decreasing volume. Shorted 1/3 size as broke through consolidation level on rising selling volume. Consolidated briefly at that exact level and continued down, short another 2/3 size looking for it to test previous low at 48.55 with stop just above previous consolidation. Ended up getting lucky (1c away from stop) but covered as It seemed like could be a double bottom and I had to head out to work. Good: Cut loser for small loss. Improvement: Terrible R/R heading into this - should not have taken this trade based on R/R <2. Today's Review Green day, felt good sticking to one ticker. Right ideas, but unplanned exits - would like to have a better exit plan. What I did poorly: Poor R/R on 2nd trade What I did well: Nice entry and scaling in when it was confirmed. What I need to do: Review my Trading Game plan, Stats. PUT THE TIME IN. Treating it like a hobby right now....... 1 Share this post Link to post Share on other sites
Valentin 84 Posted February 14, 2020 Day 27 - Feb 13, 2020 11 Tickets 3 Symbol Red Day 1. KHC - Short - 1min - Breakdown (Not In Game Plan) KHC had earnings beat, but weak sales. Sold off hard at the open, followed my price discovery rule and didn’t trade it on way down. Was looking for a failed pop, which was right at the 28.2 daily level. Shorted full size on next candle with stop just above previous candle high, target at next daily level 27.3. Covered 1/3 and another 1/3 too early - no reason to exit…Took off final partials as it seemed to be bottoming. Improvement: There was opportunity for a better entry as soon as bar closed closer to 28.2. Need to have a better exit plan. 2. CSCO - Short - 1min - Failed Pop Weak forecast, stock was down 5% premarket. Was watching 47 as a major daily level - held at the open, but then broke through. Got short on a failed pop with stop just above 47 and target at next daily at 46. Went in my favor and had 2R but didn’t take profits. Good: Happy with the trade, good entry with minimized risk. Improvement: Could have taken some profits close to 2R as it formed a double bottom. 3. TSLA - Long - 1min - Breakout (x2) (Not In Game Plan) TSLA came out with offering but stock was strong. Was looking like an ABCD pattern forming, ended up taking long as it confirmed but got a bad fill right at the top of candle. Share size was too large that I didn’t have much breathing space and got stopped out right below consolidation. Did not follow my rule and got frustrated at that…revenge trade as it came right back up and thought this would be the breakout…once again reversed real quick and got stopped out as I was expecting it to work in my favor right away. Patience was the key here..wouldve ended up being a real nice trade, right idea terrible executions. Improvement: POSITION SIZE - need to account for volatility in order not to get faked out. Ended up taking 3x the loss as I should have due to poor emotional control, and poor risk management. Today's Review Emotions got the best of me here on TSLA. Got too excited, didn't account for position sizing and volatility which whipsawed me around and took me out when it could have been a nice trade. Fatigue and poor sleep (drinking) could have had an impact on ability to control myself. What I did poorly: Control emotions What I need to do: Incorporate a checklist for every trade before going in - limit my FOMO plays. Share this post Link to post Share on other sites
Valentin 84 Posted February 17, 2020 Day 28 - Feb 14, 2020 7 Tickets 3 Symbols Green Day 1. CGC - Long - 1min - Breakout Pullback CGC up 23% on earnings beat and working on cutting costs. Strong move up and had a sell off moving into the open, then came back up into VWAP. Took a long position above VWAP and premarket support at 23.6 for breakout pullback / VWAP trend trade, with stop just below VWAP and target at pre market high level thinking we could continue up with a short squeeze. Broke through VWAP and got stopped out. Good: Followed my game plan and kept the loss small 2. TSLA - Long - 1min - ABCD (Scalp) TSLA announced price for 2Bn stock offer (767). Sold off in premarket and opened strong up to premarket highs. Dropped back to VWAP and held with increasing buying vol. Bought the breakout over previous consolidation with target high of day. Ended up scalping and selling into the breakout - sold off early in order to lock in some profits as I've had troubles with TSLA lately and sold the rest with break of low on 1min candle. Good: High probability setup - waiting for it to break on volume. Improvement: Taking profits to quickly, need to have confidence in my plays, should have waited for Profit target to hit 3. ROKU - Short - 1min - Breakdown (Scalp) ROKU gap up on strong earnings and strong guidance, broke through downtrend channel on daily. At the open, Sold off through 144.5 daily level and held 144 for a while. Failed to bounce and came through 144. Was thinking of a failed pop rejection of Moving Average, missed it and ended up taking short on the breakdown as heavy selling volume came in for a quick scalp. No exact R/R as it was a scalp Good: Took profits quick as scalp play isn't in my setup. Improvement: Would like to have this setup that way I have a target level planned for the scalp ahead of time. Today's Review Decent trading day, still taking profits too early but realizing that a scalp should be a scalp and getting out qick rather than hoping and turning it into a loss as I have in the past. What I did well: Cut my losses quickly What I did poorly: Didn't stick to my plan, fear came in and sold to early (TSLA). Need to fight for better prices. What I need to do: Revisit my trading game plan to adjust the setups, exits and entries. Share this post Link to post Share on other sites
Valentin 84 Posted February 19, 2020 (edited) Day 29 - Feb 15, 2020 21 Tickets 3 Symbols Red Day 1. + 2. TSLA - Short - 1min - Failed pop TSLA moving on Morgan Stanley upgrade ($1,200) and Elon in the news with Bill gates. Initially long bias - but seemed weak off the open. Short expecting a failed pop to work instantly - got stopped out right away with previous candle close as stop. Went in on another failed pop expecting VWAP to hold, stop just above. Hot key error - tried to cover 1/4 but sent a order to short more, covered right away. Price continued higher through VWAP for stop loss Good: Happy with 2nd entry - defined risk. Improvement: 1st entry was poor, way too early, was just hoping as this point. Need to fix hotkey - cover half ended up shorting 2x my position. 3. TSLA - Long - 1min - VWAP Trend Trade Realized this was a double bottom and end up getting on breakout and hold of VWAP - panic sold into the 845 daily. This was my idea before open - "watch for bounce of VWAP and hold, for VWAP trend trade on strength" didn’t let it play out. Improvement: MAJOR Scalp - this is absolutely embarrassing. Fear of giving back profits and having another losing trade so I take profits as soon as I'm in the green - this is brutal. Did not follow my game plan. Opportunity: Hold for my target to hit, and load up once tested 845 again - great entry point on confirmation. 4. WMT - Long - 1min - VWAP Trend Trade. Weak holiday sales and online sales slowing. Dropped in pre-market then came right back up thinking we could see the same thing in the morning. Dropped then made its way up. Got in once VWAP broke, and held with stop just below. R/R was justified for a quick move. Took 1/2 off at previous consolidation and adjusted the other half to break even. A little conservative but wanted to claw back at some of the previous losses. Good: Liked using the break even hot key (Kyles Hotkeys) after taking the first partial. Think this could be a game changer going forward. 5. ROKU - Short - 1min - Failed Pop (Not on Watchlist) Saw it pop up in chat as it broke low of day. Waited for it to bounce and saw a good opportunity to short the failed pop. Chased the entrance a little, could have had a better entry for more size. Goal was to hold to daily level at 127.2, covered half into retest of daily low. Continued in my favor so added more to my short as heavy selling volume started coming in. Another hotkey error - shorted 2x position rather than cover half at my target - (script problem ever since I updated DAS). Ended up panicking with extra size so I took the rest off around my target. Good: Had the right idea, and added size on confirmation Improvement: Need to fix hotkey - cover half ended up shorting 2x my position. Hindsight 20/20 but if I didn’t add to my short, I should be saving 1/4 position to run past target. Today's Review Really starting to notice the impact that terrible risk management skills are having on my trading performance . 3 winning trades, 1 losing trade and I am in still in the whole due to my poor risk adjusted position sizing. Also noticing once I have a few losses (unnecessary) I am quite timid and start cutting profits too soon. What I did well: Cut my losses What I did poorly: Did not stick to my game plan, not being patient What I need to do: Slow things down...Revisit my trading game plan to adjust the setups, exits and entries. DO THIS EVERY MORNING, live by the gameplan. Edited February 19, 2020 by Valentin Date Change 1 Share this post Link to post Share on other sites
Valentin 84 Posted February 20, 2020 Day 30 - Feb 19, 2020 18 Tickets 3 Symbols Red Day 1. AMD - Short - 1min - Failed pop (VWAP Rejection) AMD dropped and held moving average at open, came back up and thought we would reject VWAP and continue down. Got in with tight stop and small size. Ended up being a double bottom. Improvement: Noticing when I short into VWAP rejection many times stock rejects VWAP, comes back to make a higher low and makes double bottom (happened with TSLA yesterday 2nd trade). Be patient and wait for confirmation of VWAP rejection, and then retest- much higher probability. Also a poor R/R - overall this trade should not have been taken. 2. LK (Trade # 1)- Short - 1min - Breakdown Watching LK daily level of 40.3 a sit held and looked like failed pop. Shorted as it broke through with partial size looking to scale in once it confirms. Didn’t get the best fill so ended up taking half off into the drop. Looked like another failed pop so I added to my short at the break of the 1min low. Got to my stop and I adjusted to cover 1/3 instead of full - broke my rule and it cost me an additional 1R. Improvement: Have to stick to my risk rules, when you are wrong get out and re-asses market - DO NOT HOPE. Didn’t have a plan in place, no R/R calc. 3. LK (Trade #2) - Long - 1min - VWAP Trend Trade Was looking for another short entry thinking might reject VWAP, but realized we were testing and holding 40.3 level went long with stop just below. Was looking at 5min and seemed bearish so I got out on the spike up to the next resistance level. Good: I like my entry here, defined risk at daily level and holding VWAP and moving averages. Improvement: STICK TO MY PLAN - I have been cutting my profits way to early lately which have had a big impact on profitability. 4. ENPH (Trade #1) - Short - 1min - Failed Pop + Scale In Watching ENPH on way down, held VWAP deciding what it wanted to do. Was holding 54 and VWAP, noticed decent size bid on LVL 2 (will go back and review on weekend). As soon as it broke through it went straight down 2.5$. Missed the entry so waited for failed pop. Got in risking 0.5R with stop just above VWAP. Looked like it was selling off so I added an additional 1R as it broke previous 1 min low expecting it too work right away - took too much size on the add expecting it to work right away and scalp, didn’t work so took it off right away. Didn’t follow my plan to take partials off at previous level, HOPING it would continue. Ended up taking it off at breakeven at the circled executions. Improvement: Didn’t follow my game plan to take partials at previous level - gave back profits. Oversized on the drop as it seemed to be working - poor R/R at this point as I lowered my adjusted cost base. 5. ENPH (Trade #2) - Short - 1min - Breakdown (Chasing) Had 0.5R short still from first entry, and finally started working so I shorted another 0.5R into previous level with no exact target other then hoping it comes back down to market open (47). Ended up shorting the bottom and covered as soon as it broke previous consolidation. Improvement: Did not follow game plan - initial plan was to cover partial at this level (previous low) instead I added to my short. 6. ENPH (Trade 3 and 4)- Short - 1min - Failed Pops (Revenge and Overtrading) Started revenge trading and over trading trying to make some profits back. Went short on 2 entries trying to catch the top of the lower high - did not work what so ever. Improvement: Need to step away from the desk at this point, over trading with no R/R. Should not be taking these 2 trades - Today's Review Went to bed late = Poor sleep (5.5hr) and didn't do any research as I slept in. Noticed it in my trading. Frustrated and broke many MANY rules. What I did poorly: Did not stick to my game plan, Over traded, didn't do my pre-market research = trading blind. What I need to do: Stop treating this like a hobby. Goal this weekend is to re-vamp my whole trading game plan, look at stats and reduce/eliminate the setups I am doing poorly in and increase my successful setups. 1 Share this post Link to post Share on other sites
Valentin 84 Posted February 21, 2020 Day 31 - Feb 20, 2020 16 Tickets 4 Symbols Red Day 1. SIX - Short - 1min - Failed Pop (Rising Devil) Cut dividend 70% and had terrible earnings. SSR - Down 20% premarket. Found a level at 30 in premarket. Bounces off then and then comes back to retest 30 into the open. Opened up but couldn’t break VWAP, flushed down and retested premarket level - held and bounced off - decided to take a starter position(1/4) as a Failed Pop/Rising devil trade. Shot up through VWAP didn’t cover right away wanted to see if it would hold - it did and I got out as soon as next candle formed - caught the top tick. Improvement: Did not follow my rules, price discovery is being hard coded to 5 min. 2. VIAC (Trade #1) - Short - 1min - Breakdown Down over 15% on the secondary watchlist, missed the big drop down to 30 but was still weak and selling off. Saw large bid at 30.00 on lvl 2 - shorted into it with expectation for it to break through and continue to the downside, with stop just above previous candle high. Went my way and I ended up taking profits (1.6R) with no exit signal. In my mind was thinking to use break of trend line or break of Moving average as stop but panicked and covered at 2.5R as spy shot up and fear of giving back profits Good: Happy with the read on the entry, failed pop, heavy and increasing selling volume, read on lvl 2 selling through the large bid Improvement: Better exit strategy, beating a dead horse here but continuously cutting profits too early, and letting the losers ride. Know it but seems like not enough discipline to follow my rules. 3. VIAC (Trade #2) - Short - 1min - Failed Pop Covered my positions and it continued falling, Was looking for another entry on failed pop and got it - so shorted as it started to sell off again. Something to note was it tested through moving average which was a change in character. Had a hard stop just above but canceled it and executed manually which caused for more slippage. Good: Cut loser Improvement: Need to Follow game plan and be stricter with my stops - once share size comes up this small difference could make a major impact over many trades. 4. VIAC (Trade # 3) - Long - 1min - VWAP Trend Trade Covered on the double bottom and then it made it way into VWAP and consolidated as expected. Held and broke through on rising volume went long - put order to buy when it retests at 30.20 but ended up FOMO'ing and bought as it broke out. Bought the top. Clear resistance off the instraday daily level at 30.53 almost to the penny. Holding just below VWAP with larger selling vol - started to look bearish but I held my stop - which was just few ticks away. Ended up coming back up to my entry and just over - sold into it, thought of keeping the other half went to enter stop range order - entry mistake, and sold at market for minor profit (lucky mistake) Improvement: Felt like I was revenge trading and over trasing after taking a few losses. Wrote in notes I shouldn’t trade but did anyway. Not happy with that. 5. LB - Long - 1min - Breakout Pullback In play was news they were selling Victoria Secret, and CEO was stepping down. Down 15% at one point - missed the whole play and didn’t do daily levels research. Came right up to previous day vlow rejected and I went long on the breaking pullback. With tight stop in order to avoid the double top. Ended up stopping me out. Improvement: Didn't do my daily levels and that got me on this one. Way too late, need to take a step back and realize what has happened rathe then jumping in on a breakout pullback hoping for a rally through previous highs. 6. Z - Long - 1min - Breakout Pullback Z was strop off open - watching the premarket highs. Broke through PMH and held - buyers looked in control with soling buying volume coming in. Went long with tight stop just below consolidation at 64.65 level. Consolidated above the level and finally broke out to the upside - took 1/2 off way to early (1.4R) with no reason to exit. Then covered into over 2.5 and 3.8R as it pushed higher. Good: Like the patient entry here, risk is defined off that pre-market high level, held it nicely. Improvement: Could have managed the trade much better and started taking profits later closer to my target. Today's Review Overall it was an alright day. Notice there are a few plays where I should be getting much larger and that is when I have a defined risk/reward and stronger signals such as LVL 2 confirmation or around major daily levels - trade 2 (VIAC Trade #1) and Trade 6 (Z). What I did well: Couple of high probability, low risk entries which turned out to be decent winners. What I did poorly: Trade management, taking profits too early not letting the move play out. What I need to do: rec curing theme - need to go over my gameplan / playbook and set more strict rules around exits and setups taken. 2 Share this post Link to post Share on other sites
Rob C 826 Posted February 21, 2020 Excellent journalling!! Way better than mine. Share this post Link to post Share on other sites
Valentin 84 Posted February 24, 2020 On 2/21/2020 at 8:22 AM, Rob C said: Excellent journalling!! Way better than mine. Thanks Rob, much appreciated! Although - still lots of work left. Noticing my journalling is quite tedious and taking a lot of time. Chart review inst a problem as I enjoy and find it very beneficial looking back and seeing the bigger picture (much harder to do so while actually in the trade). But where I am having trouble and looking for improvement is my excel journal with stats, entries, exits, P/L and so on as it is mostly manual. I have Edgewonk, but my importing doesn't seem to work so I have gone back to excel journalling. I have seen a few posts on here and elsewhere and have compiled all the stuff I like and made my own, however, would love to hear recommendations or any resources which are helpful. Share this post Link to post Share on other sites
Valentin 84 Posted February 24, 2020 Day 32 - Feb 21, 2020 14 Tickets 3 Symbols Red Day 1. VIAC (Trade #1) - Short - 1min - Failed Pop Was looking for continuation play on VIAC as it broke through LOD and yesterday's low. Plan here was to short into 28.83 level with stop as soon as we broke out for a small loss. Discipline wasn’t there, adjusted my stop to VWAP, didn’t cut my loss ended up breaking through and holding so I stopped out. Improvement: Discipline on cutting loss, adjusted my stop twice and paid for it. Also got in too early on the play, should have realized this support pop. 2. VIAC (Trade #2) - Short - 1min - Breakdown Saw a big bid at 27 and then 28.65 (9:44am) acting as a wall - wanted to see how it would react to the break. Ended up taking out the wall so I shorted 1/3 size with stop just above VWAP. Continued down and then came to another wall at 28.50 level - broke through and shorted another 2/3 on the breakdown with stop just above 28.6 level. Covered 1/3 on the top tick, as it rebounded up and took out my stop loss. Continued down and I took profits (un-planned), then looks like it made a doble bottom and higher low so I took majority off leaving a partial at breakeven in case we see continuation to downside. Good: Reading the tape seems to give me a nice confirmation for entry. Improvement: Should be waiting for a reason to exit, or taking partials at specific levels rather than getting scared and taking profits too soon. Little more room on the stop loss, break of stopping average? 3. WORK (Trade #1) - Long - 1min - Chasing (VWAP Trend Trade / Breakout) WORK up on news that UBER is starting to use Slack. Long biased. Had notes to watch the 29.35 daily level. Opened up weak then started to come back into VWAP, plan was to go long once it came back to test VWAP with a tighter risk - FOMO and went long with a starter - will be adding as we confirm break of 29.35. Came back down and consolidated right at VWAP, adjusted my stop on the break of consolidation with lower highs being put in and got stopped out. Improvement: Chased the entry which didn’t give me a great level for a stop. Also went against my trading game plan. 4. ROKU - Short - 1min - Chasing No reason for entry, shorted the consolidation as I heard it called out in the room - broke my rule and got stopped out at VWAP on the breakthrough. Noticed I am not following my plan and overtrading, told myself that I am Done for the day. (Additional Notes : Longer time frame on 5min looks like a double bottom, thinking this will break through VWAP, retest and then continue up to 123 for a VWAP trend trade. Exactly as I called it came back to VWAP and broke out. Didn’t take it - was in WORK.) Improvement: Over trading - Only take my plays in my game plan don’t go looking for chat room callouts every time you hear one - poor self-control. 5. WORK - Long - 5min - Chasing (Breakout) Was watching WORK as it was in play, looking for a possible re-entry. Went long as it looked like it broke the downtrend and decreasing selling volume on the 5 min, looking like it was making a higher low. Overall bullish on this with strong catalysts think we could retest highs. Stop is .30c - adjusted to breakeven as I leave for work Improvement: Over trading here, told myself I would stop and continued trading. Today's Review Not happy with my ability to stick to the game plan. Adjusting stops which is screwing with my stats as well as probability and profitability. Over trading when I know I shouldn't be, even write it down. What I did well: Starting to pick up a little more from LVL 2. What I did poorly: Sticking to game plan - too much random executions and adjustments. What I need to do: GAME PLAN, and take a step back from the screens, look at the bigger picture before entering any trade. Make more time for stats, video review Share this post Link to post Share on other sites
Rob C 826 Posted February 24, 2020 1 hour ago, Valentin said: Thanks Rob, much appreciated! Although - still lots of work left. Noticing my journalling is quite tedious and taking a lot of time. Chart review inst a problem as I enjoy and find it very beneficial looking back and seeing the bigger picture (much harder to do so while actually in the trade). But where I am having trouble and looking for improvement is my excel journal with stats, entries, exits, P/L and so on as it is mostly manual. I have Edgewonk, but my importing doesn't seem to work so I have gone back to excel journalling. I have seen a few posts on here and elsewhere and have compiled all the stuff I like and made my own, however, would love to hear recommendations or any resources which are helpful. I tried both Traderview and Edgewonk. Both gave me erroneous data. I create and cancel multiple orders during a trade. Seems like neither can handle that well. So I currently calculate stats in Excel as well. Have you tried Chartlog yet? Since you can contact the developers directly through BBT we should probably try it. Share this post Link to post Share on other sites
Valentin 84 Posted February 25, 2020 (edited) Day 33 - Feb 24, 2020 16 Tickets 4 Symbols Green Day 1. SPY - Long - 1min - VWAP Trend Trade SPY gap down 2.5% on Coronavirus fears, spreading to South Korea, Italy, Iran. Bounced up in the open and pulled back holding VWAP then bounced again. Took it long for 1.2 size on the next retest and hold, with stop loss on the break of VWAP. Thinking there is quite a bit of room to run on the upside . Got out half on the retest of previous level - stop loss adjusted to B/E, with potential to add on drops. Didn’t like the price action so adjusted to stop right below previous 1min consolidation and got stopped out - If I left it on it would rebound close to my target. Good: Disciplined taking half size as markets were a little wild in AM. Improvement: Adjusting my stops too much, first adjustment to B/E is ok - but after that I should leave it. Feel like I'm over-managing positions. 2. GOOS - Short - 1min - Failed Pop GOOS broke through 52wk low, had it on my watchlist and then saw someone in chat call it out. The play was a failed pop right at the daily level of 29. SPY was breaking down as well so thought we could see continuation lower. Consolidated briefly then popped through VWAP and previous high taking out my stop loss. Good: Happy that I cut losses. Improvement: Could have gotten a much better entry here right at VWAP - which would have gotten me close to 2R for potential profit and then breakeven on rest. 3. GOOS - Short - 1min - Chasing (VWAP Breakdown) Came back into VWAP and I was too biased ended up shorting the bottom tick hoping this would break through VWAP, with increasing selling pressure. Perfect example of where I should take a step back and wait for confirmation, took this too early which ended up forcing me to be defensive, instead I could have waited and realized this was a double bottom into a VWAP trend trade. Improvement: Can't be too biased, need step back and wait be patient, and wait for confirmation. Went against trend (Short above VWAP) Opportunity: Double bottom and hold off VWAP for a VWAP trend trade. 4. GILD - Long - 1min - Breakout / Breakout Pullback GILD was moving, and one of the only plays separate from overall market - biotech combating coronavirus. Was making higher lows and tested premarket level few times. Wanted to wait for a further pullback into VWAP but got FOMO didn’t want to miss the breakout. Got in and then consolidated doing nothing - dead play. (Notes: Seemed completely inverse the market, just like NNVC the day before) Improvement: Take it as a breakout once its confirmed, or wait for an actual pullback - I ended up trying to mix an entry and got FOMO for a poor setup. 5. ROKU - Short - 1min - VWAP Trend Trade + Scale In on Breakdown ROKU gapping through multi month support. Failed to make a higher high on the 2nd wave so I waited for entry. Bounced of premarket level and just above VWAP - took a short expecting VWAP to break as a VWAP Trend Trade (a little premature but had confirmation on lower highs and strong weakness in overall market.) Held around VWAP fake breakout and then shot down - covered half into next drop. Realized there was no reason to exit so I added another 2/3 size into the breakdown for a quick scalp into my profit target leaving partial on for break of previous high. Improvement: A little premature on the entry - but had a decent risk level to go off and overall market weakness. Need to work on taking profits a little later and waiting for my target. Opportunity: Definitely could have added on the fake breakout of VWAP. 6. ROKU - Short - 1min - Failed Pop ROKU Stopped me out and then came back up into VWAP - thought we would see the VWAP reject and break down shorted into. Didn’t have much time before I had to leave to work so I left on a little bit of a loose stop range order with target at previous low. Ended up getting a nice bottom tick cover at exact low. Good: Left it alone with stop order, worked out nicely although I was close to my stop. Opportunity: Possible add as it failed to hold VWAP Today's Review A little bit better today however still taking entries pre-maturely. What I did well: Position sizing and risk management What I did poorly: Little bit of FOMO and hoping rather than confirming What I need to do: Make more time for review of gameplan/stats/video Edited February 25, 2020 by Valentin Add Today's Review Share this post Link to post Share on other sites
Valentin 84 Posted February 27, 2020 Day 35 - Feb 26, 2020 (Feb 25th - took day off, fatigued) 13 Tickets 2 Symbols Red Day Watchlist DIS (Trade #1)- Short - 1min - Double Top (Anticipating) DIS negative catalyst, and dropped through major daily support. Rejected just under the 1.28 level was watching for a failed pop. Ended up bouncing right back up to previous level so I shorted in anticipation of 128 daily rejecting, stop loss just above previous day close and target at VWAP. Hard the right idea but took this too early and ended up getting stopped out on the top tick. Good: Had the right idea. Improvement: Poor execution, once again jumping in to early rather than waiting for confirmation. Opportunity: Enter at exact same price on the other side of the top - once it rejects, and breaks consolidation to the downside. SDC (Trade #1) - Short - 1min & 5min - ABCD (Reverse) SDC weak in PM down 24%, through premarket level of 8.18 and quickly bounced of 8 then failed to make premarket high rejecting off moving average marking C in the ABCD setup. Made a shooting star on 5 min, and lower highs on 1 min so I shorted just above VWAP with previous high as stop for 2R. Worked in my favor quickly so I took half off at premarket level in case it acted as support. Bounced as expected rejecting VWAP, was thinking to add but let it play out. Looked like it was holding the 8.18 level so I took off as soon as it made high on 1 min. Good: Felt more comfortable using multiple time frames to confirm price action, taking partial profits at daily levels. Improvement: Could have added on the rejection of VWAP for quick scalp DIS (Trade #2) - Short - 1min - VWAP Trend Trade My failed short in DIS earlier ended up working exactly as expected so I ended up shorting as it failed to hold VWAP thinking we could break through LOD and to pre market lows. Stop just above consolidation at VWAP. R/R was poor here, more of a scalp. Improvement: Setup wasn’t great - shouldn’t be trading this here - but if I'm going to trade this I need to have a much better entry as R/R just wasn’t there. SDC (Trade #2) - Short - 1min - Breakdown Continuing to make lower highs and lower lows. Saw a big bid at 8.1 thinking we could see a nice breakdown, entry was a short as we rejected to bounce and hold above 8.18 level. Held that level and grinded back up slowly - stop at hold of VWAP. Overall I am ok with taking this loss, but entry could have been a little better in order to bring this to a break even trade. Opportunity: Could have gotten a better entry as we rejected at VWAP couple minutes before, with potential to add here. SDC (Trade #3)- Long - 1min - VWAP Trend Trade Got stopped out of my trade and quickly realized this could be a reversal as SDC was pretty extended on the day (down 26%). Was just about to run out the door for work and realized I was probably Revenge/emotionally trading, but the R/R was great so I ended up taking it with .07c risk. Stopped out quickly was - .02c off from 3.7R trade. Improvement: Should have left my stop loss a little wider this would be categorized as "All Day Hold" - heard this in AverageJoeTraders "Trading The Trend pt. 2" webinar. Today's Review Although my P/L doesn't show it, I am feeling much better trading these days. I think a major part of it is journaling, and going through my plays every night. I am able to see my mistakes clearly. I am also recording my trading (2nd week) and its nice to see how market was moving when you are not participating but just watching from sidelines, major difference - think this will add alot of value. What I did well: Starting to see setups a little more clearly What I did poorly: Execution definitely needs work, I need to do a better job of fighting for price on the entry. What I need to do: Schedule more time video review, setup review, playbooking, watching other trading recaps, reading forum for all the brilliant content on there Share this post Link to post Share on other sites
Valentin 84 Posted February 27, 2020 On 2/23/2020 at 9:15 PM, Rob C said: I tried both Traderview and Edgewonk. Both gave me erroneous data. I create and cancel multiple orders during a trade. Seems like neither can handle that well. So I currently calculate stats in Excel as well. Have you tried Chartlog yet? Since you can contact the developers directly through BBT we should probably try it. I agree with you - Edgewonk was useful at first, but seems a little tedious with scaling in and out. (might have changed by now - I tried it about 1.5 years ago) No I haven't yet, but it is definitely on the list. Will do some more research on it in the forums and will let you know how it is once I get around to it!! Share this post Link to post Share on other sites
Valentin 84 Posted February 28, 2020 Day 36 - Feb 27, 2020 9 Tickets 3 Symbols Green Day SDC (Trade #1) - Short - 5min - ORB SDC broke through daily support level and hitting ATL. Waited for the 5min ORB, and saw wall on the bid at 7.2 thinking we could break through and have a nice continuation to downside as overall market was weak. Ended up getting stopped out with my stop just above VWAP. Improvement: Statistically ORB doesn’t work well with my trading style, size down or completely eliminate. Entry was ORB5 but I used an exit on the 1min - haven't looked into this, but seems counter intuitive. SDC (Trade #2) - Short - 1min - VWAP Reversal As soon as i got stopped out I looked at it and thought this could be a failed pop / rejection off VWAP so I took it short with stop just above VWAP and target at LOD. Instantly got bought up and stopped me out again. Improvement: Thesis was wrong. Saw a wall on the bid and didn’t want to go away, I ignored and tried to keep shorting. Seemed like this just didn’t want to go down. SPCE - Short - 1min - VWAP Trend Trade (also a Reverse ABCD) SPCE has been a wild mover lately and started finally selling off with the market, gapped down hard with next level support (previous resistance) at 19.9. Bounced and failed to reach previous level / VWAP so I went short once it confirmed and made a lower 1min candle. Worked in my favor right away - instead of leaving it to play out I adjusted and took full size off BEFORE my target as I got scared of double bottom. Good: Really happy with my entry here. Defined risk, with potential to turn this into 2.5R + trade if held to next major daily level. Improvement: Didn’t take enough size based on my risk parameters. Took profits way to early, if properly sized this would have been a partial with the rest left to run. ROKU - Short - 1min - VWAP Trend Trade Broke through daily support level looking for continuation on the way down. Held 105.5 level and looked like a double bottom in premarket. Came up at open but failed to break premarket level at 111. At first was thinking bull flag for a push up to previous day close, but broke through VWAP looking weak as every 1min push is getting stuffed and rejected. Shorted on rejection of VWAP with all the Moving Average's as resistance, stop once broken through. Took off way too early as the premarket level looked like it was holding. Dropped again and I took profits at initial profit target (T1) of 2R Good: Good patience on confirmation before getting in to early. Improvement: Taking profits too early, need to have confidence and let it play out. Inconsistent sizing, only took 1/3 size on this. Today's Review Woke up late and got to screens at 6:10, scrambled to put together a watch list - felt unprepared in the morning. Waking up early and getting everything together gives me so much more confidence. Trading day went well though - couple of good plays, if proper risk and trade management was there this could have turned out to be a really good day. What I did well: Entries were on point, played my best setups and waited for confirmation in order to have defined risk What I did poorly: Position sizing and trade management. Taking trades off way to early, need to let my profits run. What I need to do: Get up earlier, want to test 2 min charts as sometimes I get faked out on the 1 min. Share this post Link to post Share on other sites
