Valentin's Day Trading Journal

[Valentin 84]

Weekend Review (Mar 22, 2020) 

Reviewing my stats, in order to figure out that's working and what's not.  Below are some common themes I found within my biggest winners and losers, as well as some takeaways and plans to fix these problems.

Biggest Losers:

• Inconsistent Position Sizing
• Adjusted Stops
• Anticipating (getting in too early with no confirmation)

Plan to fix these:

1. Only take trades using risk calculated hotkeys (1/2 for scaling in, 1R for regular) - this will enforce me to set a stop before placing trades. 
2.  Taking off the ability to move stops in charts by dragging - put these in not too long ago, and the convenience plus lack of discipline allows me to adjust too easily.
    

Biggest Winners:

• Entry Confirmation (level 2, candlesticks, sector)
• Letting winners ride
• Scaling In and Out

Also looked at biggest winners, and how I could have improved on these

• Sold too early (before target)
• No Reason to Exit

Plan to Fix these:

1.  Research my winners and look into different exit strategies
   • Exit 1/4 at 1 - 1.5R, exit 1/2 at target, exit 1/4 on Reason to Exit (MA, VWAP, Trend Break...)
   • Exit 1/2 at 1.5R, exit 1/2 at target

Overview

Did this for top 12 trades (wasn't planned, just ended up coming out to 12). Totally re-iterated what I thought, but now I have definitive stats to back this rather than "I think I'm doing this wrong".
Now that I have identified exact things I need to change, I will be creating and implementing a "Daily Report Card" to work on these specific goals, and rate my effort and success at achieving them on a daily basis.

Goals for the next month:

1. Only take trades using risk calculated hotkeys (1/2R for scaling in, 1R for regular)

2. Placing trades with defined risk, and profit targets.

• Physical stop loss
• 1/4 at 1.25R, 1/2 at target, 1/4 at Reason to Exit (For now - will update once statistical research is done.

 

Would love to hear some feedback or thoughts on your process, review, experiences or any other information.

[hailchaser2 185]

One problem I was having with my Kyle hotkey stops, I would put a stop close to price action so I could get more shares. This doesn’t work, stops should be put at technical levels only. Being more realistic with where I put my stops has also helped me stay out of trades that I shouldn’t be in anyway. If I look at where the technical stop should be, and the R:R ends up being less than 2:1, then I pass on the trade or wait for a pullback to get a better entry.

Are you able to attend the trade recaps with Aiman on Tuesdays and Thursdays in the classroom, I used to only share my good trades, but I realized my learning would be much faster if I shared my bad trades. Aiman does a great job, I try to make sure I’m in every review, I learn just as much from the other traders’ trades as mine.

[Valentin 84]

12 minutes ago, hailchaser2 said:

One problem I was having with my Kyle hotkey stops, I would put a stop close to price action so I could get more shares. This doesn’t work, stops should be put at technical levels only. Being more realistic with where I put my stops has also helped me stay out of trades that I shouldn’t be in anyway. If I look at where the technical stop should be, and the R:R ends up being less than 2:1, then I pass on the trade or wait for a pullback to get a better entry.

Are you able to attend the trade recaps with Aiman on Tuesdays and Thursdays in the classroom, I used to only share my good trades, but I realized my learning would be much faster if I shared my bad trades. Aiman does a great job, I try to make sure I’m in every review, I learn just as much from the other traders’ trades as mine.

Ye I noticed I was doing the same, but the slide to adjust stops/targets in the chart area was too easy and I find myself sliding it and selling to early, or sliding it out in "hoping" it comes back into the green, which is one of the worst things to do in my opinion.

Haven't been able to attend due to work, however, this has changed for the time being - will definitely be there for the next couple of weeks. Thanks for letting me know!!

[Valentin 84]

Day 53 - March 23, 2020 
36 Tickets (overtrading)
7 Symbols
Red Day 

 

Watchlist:


 

 

SPY  (Trade 1) - Long - 1min - ABCD / Breakout? (Pre-Market)

SPY down over night, but up in premarket on news that FED will do "whatever it takes" to support the market - strongly received. Was looking to test out hotkeys (placing targets based on risk hotkey) and saw SPY breaking out looking like a potential ABCD patter - got in for a quick scalp.

 

AMD (Trade 1) - Short - 1min - Failed Pop (No confirmation)

SPY dropping and AMD broke green to red, with MA's as well as VWAP as resistance. Wanted to wait for this to come up and test VWAP for a VWAP Bounce play - ended up getting in too early - didn’t wait for the pop into VWAP which I should have done. Would have entered a little bit later but got stopped either way.

Improvement: Stop loss wasn’t well placed, need to do a better job of pricing in a move above VWAP

We were breaking through prevoius day close, and heading into pre market level - too much support which ended up holding.

 

UBER - Long - 1min - Technical Breakout (Lvl 2 Wall)

Was watching UBER thinking could be a potential double top at previous day close and HOD. Saw a wall of asks at 21 getting eaten away, making higher lows so took it long it broke through wall of ask. As soon as I got in, felt like it could have been a trap. Rejected of Previous day close (1c away from my target) and engulfing down - should have got out right away. Went to sell half as it wasn’t looking good with SPY falling - but hot key error and bought more (mistake) and covered it quickly. Leaving rest to ride. Previous day close + some. Took it off as it didn’t wans to go.

Improvement: Cant be Chasing this, not happy with entry as it’s a little far off VWAP and approaching multiple resistance points.



RCL - Short  - VWAP Break and Go (too early - no confirmation)

Was watching CCL on the break of VWAP but went straight through didn’t give me a great entry point on a retest. Ended up getting in on RCL as it broke and retested as I planned. Got in with a entry which slipped away from me, and a stop loss just above previous high, MA's and VWAP - top ticked and got stopped out.

Good: Had the right idea, with CCL and RCL moving together. Entry was ok on the 1 retest, but the double (M) rejection would have been better.

Improvement: Stop loss to tight, trend was down and I was expecting a pop off VWAP - need to give it a little more breathing space.

 

CCL - Short - 1min- VWAP Break and Go

Was watching CCL initially - but RCL provided better entry. As soon as I got stopped out saw CCL reject and follow RCL and NCLH pace - expected CCL to break VWAP and trend lower. Big battle at 11bid so I covered in case it would hold. Looked like bidder was taken out - 5min is also bearish. Then Buyer stepped right back. I was adjusting my stop loss to update shares - and ended up panicking and manually covered - top tick.  

Good: Had the right idea
Improvement: Poor Trade Management. Stop adjusting stops. I was in the money and idea was perfect. Covered top tick for majority of position and ended up breaking even vs what should have been a nice winner.


AMD (Trade 2)  - Short - VWAP Break and Go

SPY tanking took AMD on a drop and rejection off VWAP looking to continue down to Previous close and LOD as targets, stop above VWAP. Came up to VWAP close to my stop - and I Adjusted (terrible habit) which luckily got me 2 ticks away from stopping out and then moved in my direction. Took partial at previous day close, and another as it looked like it wanted to bounce and retest previous day close (no reason). Another partial as we moved into LOD and let the rest ride until reason to exit - picking up strength of double bottom, higher highs and higher lows.

Good: Partials at decent levels,

Improvement: Cant be adjusting stops - although I got lucky here this has proved to hurt me in long run - PICK A GOOD STOP BEFORE ENTERING. Also could have added at 11:20 when failed to bounce back into VWAP and broke consolidation.




Just had a feeling of not getting into anything as it seems kid of choppy  and SPY is still down but looking at VWAP retracement….then ended up FOMO'ing ROKU

ROKU - Long - 1min and 5min - Technical Breakout (Chasing)

ROKU has been quite strong today and I thought we could break HOD and rally. Ended up getting away from me and I got in on the top tick - same time trying to limit my risk so I put a stop below 1 min previous low and got stopped out quickly.

Improvement - Not one of my profitable setups. Stop was wide as I got it right at the top WAIT FOR THIS TO COME DOWN, RESET AND THEN GO FOR THE BREAK - buy the 2nd break.

 

 

SPY - Short - 1min - VWAP Break and Go + Add on Confirmation (Sizing - yes, VWAP indicator)

SPY weak and selling off. Tried to hold VWAP and rejected on decreasing buying vol. Waited for second rejection off VWAP and got in on confirmation. Ended up reclaiming VWAP briefly and stopping me out. Move came down, and failed the bounce rejecting off VWAP and MA - took another short with same stop. Partial into previous low in case we held, and another into T1, adjusted stop and got taken out top tick (2nd time this happened today)

Good: Stayed with my Idea and played it on confirmation

Improvement: Stop adjusting stops - doing this on my winners and my losers - put the stop in and let it be……

 

AMD - Short - 1min - VWAP Break and Go (Anticipation - FOMO didn’t wait for confirmation) -
SPY was breaking consolidation expecting this one to follow - wanted to wait for a defined risk but got FOMO as selling volume came in thinking this would break without me. Terrible Risk here though as I got my entry on the breakdown far from defined risk level. Will need a big move in order to cover risk. Instead of letting the poor entry play itself out or maybe covering while I'm in green I doubled down on this FOMO as I wanted to get my P/L into the green.
Improvement: Not only did I FOMO - but I also doubled down on this, plus adjusted my stop. This is a trade of trades of what not to do.

Over trading at this point - told myself after AMD trade that I would be done for the day…broke my monthly goal of adjusting stop on a loss (couple times today), and just making poor decision. Stepped away until…..
 

SPY - Short - 1min - Technical Breakout (Overtrading)

Noticed that I just wanted to get in on action and get the market back for my braking my rules…not great confirmation but selling volume coming in and hit the bids at 221 - short 1/2 size looking for this to break down descending triangle. Broke down and covered into previous low level letting the rest to ride. Got stopped out as it made a new 5m high.

 

BA - Long, 1 min - Technical Breakout (Overtrading)

Same thing as previous trade - just want to make some P/L back. SPY was squeezing into the close and saw BA break down trend - was thinking of getting in (104.5) then started taking off and I got a terrible fill - pressed the 1/2R hotkey, but top ticked on the spike. Looking for this to squeeze into the close. Was choppy and couldn’t break 107 level after briefly spiking over. Sold partial and the rest into close.

Improvement: This is not in my setups. Need to listen to myself, when Its time to step away its time to step away for the day. Apart from bringing P/L down, overtrading is a terrible habit that I just can't seem to shake lately.

Todays Review:
Not happy with my ability to follow my plan. Making way to many bad decision which I know I shouldn't be.

Theme of today - adjusting stops…..

On good trade : Taking profits - then adjusting my stop losses and getting taken out. Twice this happened - CCL and SPY which both would have been nice trades if I kept my original plan.

Bad trade: Putting my stop to tight, realizing its too tight and moving it - causing too much unnecessary slippage and poor habits.

Notice my emotion edge comes in toward end of day if I'm down - trying to get back into the green, taking poor setups.

Daily Report Card:

1. Only take trades using risk calculated hotkeys (1/2R for scaling in, 1R for regular) = 11/11

2. Placing trades with defined risk, and profit targets.  5/11

[Rob C 826]

Awesome journaling!!

[Valentin 84]

2 hours ago, Rob C said:

Awesome journaling!!

Thanks Rob, great to see that you are enjoying it! Hopefully learning from my mistakes - as there is a lot of them! 

Definitely a work in progress, but I am noticing a difference in thought process more and more every day, although it is slow in coming together journaling is for sure helping.

[Valentin 84]

Day 54 - March 24, 2020 
25 Tickets
5  Symbols
Red Day 

 

Watchlist:

SPY - Long - 1min - ABCD (too early, not even touching VWAP yet)
SPY is strong this morning was looking for a ABCD pattern off the opening drive. Came back down and bounced off pre market resistance, now acting as support. Took it long with premarket level and VWAP as support. Came down took my stop out and held around VWAP before ripping higher for the rest of the day. (Thought I had during trade - will probably take me out and rip higher - due to poor entry)

Improvement: Poor entry, need to be more patient with the ABCD pattern - think I need to hold off until VWAP as this would provide great support and can get better entry with more size for same risk.  

 

DAL (Trade #1) - Short - 1min and 5 min - Technical Breakout (Lvl 2 and VWAP confirmation)
Was on secondary - and called out in chat. Saw it reject 2nd time, waiting for 25 bid to break. Failed to push through VWAP again and came down to 25 and broke bid. Buyer is stepping down seems like every time it gets there. Took it as I saw the bid break 25 wall, but looks like fake out once it held VWAP thinking it would squeeze and offer was getting lifted at 30, 40, 50…

Improvement: Should be careful shorting into support. Had 200MA right there, and LOD as support as well.


 

 

CCL (Trade #1) - Long - 1min - Technical Breakout (Anticipating)

Saw this coming up on buy vol, SPY trying to push higher as well, started consolidating around pre market high - took it as we were making a breakout, with stop just below previous consolidation. As this is Momentum trade I am working on taking profits quick as they tend to get away from me. Took 1/3 on pop, then panicked and sold a partial after bearish doji and decreasing buying vol into the breakout. Started to really get some volume behind this sold into target and let the rest ride for partials. Final partial as we came down and broke through both 9 and 20EMA.

Good: Had the right idea, happy with letting partials ride till the end of the move

Improvement: 2nd exit wasn’t planned - panicked and sold after a doji candle. Other exits I am happy with.

 

 

CCL (Trade #2) - Long - 1 and 5min - VWAP Break and Go (Sector confirmation)

CCL came down consolidated just under VWAP but held PMH and level of breakout. Watching RCL and NCLHA as they broke VWAP and pushing up, SPY strong as well. Took it long as it broke through VWAP, retested and held, thinking this could squeeze and retest HOD. Ended up getting stopped out at same level it held previously, and break of 200MA.

Good: Followed my game plan, entry was there, R/R was there

 

BA - Long - 1min - Technical Breakout (Ascending Breakout Anticipation)

BA setting up as an ascending triangle looking for breakout. SPY pushing up with volume. Looking for BA to breakout here. Pretty choppy with big wicks,  but feel like it had momentum to move. Ended upcoming up to the previous level but strong rejection seller must still be there (didn’t notice as I was looking at different play….Ended up stopping out below consolidation level and break and hold of MA on 5min.

Improvement: Didn’t have an exact exit plan, which tends to happen with a lot of my momentum / breakout plays. Need to work on this.

 

RCL - Short - 1min - VWAP Break and Go

These cruiseline have been very active and have lots of room to run to the downside after a strong up move. Came down and held previous support, and VWAP - tested a few times but just couldn't break through. CCL already broke, and NCLH following with lots of volume coming in on selling side. Ended up taking it short as it broke consolidation. Was thinking to add if it broke down, and tried to retest VWAP but couldn’t make it back. Took partials into 1.25R (trying this out) and into level at 34. Bounced a bit, took another partial as I didn’t like the increase in buying vol. Got stopped out into MA's - top tick the dead cat bounce….

Good: Like this entry, VWAP confirmation and waiting for consolidation to break. Comfortable taking it here.

Improvement: Should be taking this with more size, no need to exit on the final. Ended up going down to LOD plus some



 

 

DAL (Trade #2)- Short - 1min - Technical Breakdown (Lvl 2 wall of bids) -1 for adjusting stop
Was watching the Head and Shoulder formation and didnt act on it...ended up working perfectly. Ended up coming down to test support with big bidder at 25.6, took it short as soon as bid dropped. Expecting this to be a quick momentum play, idea is to take off size right away. Had an idea of waiting for support to hold, come back into MA'a and short there but didn’t want to miss the action. Realized this is not a high probability trade, and it should have worked right away - so took it off reducing loss to 1/2R.

Improvement: Not respecting the support levels, I put them there for a reason need to pay attention to them - it held 2x before….



This is a perfect chat that shows how important levels are (hindsight = 20/20) :
- 27.2 level rejected 5x through the day, and acted as a breakout level.
- 25.6 acted as a breakout, as well as a support 2x through the day.

 

Todays Review:
Take away of the day is psychology webinar BBT held - lots of learning lessons. Have been working on my process lately and is slowly improving. Noticing it in the quality of trades I take RCL, CCL and even SPY which I had the right idea but execution just wasn't there.

 

Today was a great improvement on letting winners ride, re-confirmed by Dr. Steenbarger - in these volatile conditions, breakouts tend to be much stronger. Will continue working on this.

 

Daily Report Card

1. Only Take trades using risk calculated hotkey = 7/7

2. Placing trades with defined risk, and profit targets = 6/7
 

 

Edited March 25, 2020 by Valentin
Delete extra pic at end.

[Rob C 826]

Great entrance on your 1st CCL trade. Perfect spot.

[Valentin 84]

Day 55 - March 25, 2020 
44 Tickets (Major Overtrading)
7  Symbols
Green Day

Watchlist:

SPY (Trade #1) - Short - 1min - Technical Breakdown

Initial thought on SPY was ABCD, looking like it was working until it broke through VWAP and no sign of buying. Broke previous day close took it short after it failed to retest and hold. Target was pre-market level, Seemed a little extended from the top

Good: Not holding bias, wanted to go long but setup didn’t present itself to I went short on the breakdown.

OXY - Short - 1min - Technical Breakdown (lvl 2 wall at 10.42)

OXY forming descending triangle at 10.4 trying to break 10.4 wall on lvl 2, confirmed with oil as it was breaking down.  Expectation is to take out the bottom and fall through. Dropped through 10.40 without any prints and held - took partial off wanted to see it work right away.  Buyer came back and took it up to my physical stop (top ticked).

Improvement: Thought I had good confirmation with oil and Lvl 2 but Need to do more work on reading tape.


 

 

ROKU - Short - 1min - VWAP Bounce and Reject (sub setup: ABCD)

Took ROKU short, both ROKU and market were coming up to VWAP, took it on confirmation of failure to hold, and made lower low multiple times. Took partial off as Spy ripped up but ROKU dropped, thinkign it might follow, kept the rest on as potential weakness relative to SPY, adjusted stop to just above previous VWAP pop - hold for this to trail down to LOD.

Improvement: Terrible R/R on first partial - took it as I didn’t like price action.




AAL (Trade #1) - Long - 1min - VWAP Break and Go
Took it as SPY was breaking out.  Added more as it pulled back into VWAP and held. Consolidated for a bit then started to make its way up, weak relative to other airlines (watching DAL). Took of partial into previous high in case it rejected. Had volume but failed to breakout, and seeling volume picking up sold another partial leaving rest to ride. Stop loss oversold and went short as I didn’t adjust it, covrred right away.

Improvement: Seemed weak relative to sector - have to be careful as it kept rejection to break. Need to find a way to adjust stop rather than manually doing it.

BA - Long - 1min - Technical Breakout

Watching BA strengthen as SPY moved it. Looked like potential double top, with highwe lows being taken out on 1. Double top came and broke MA's instead of shorting I ended up going long on the breakout (FOMO) went again my own plan and paid for it.

Improvement: Had a short idea, which would have worked out. FOMO'd hard and went long instead. Also adjusted stop as I didn’t like price action.

 

DAL (Trade 1 and 2) - Short - 1min and 5min - Double Top
SPY and DAL took a big rally and brought DAL up to daily level, yesterdays level held very tightly on DAL so I thought they would respect them today. Looked like it topped right at the daily level and came back down, failing to bounce back. Took a short thinking this was the double top. Stopped out. New high and then came back down, consolidated under the daily and couldn’t break back above - selling volume came in so I shorted as it broke consolidation and MA. Fake out and took me out again.

Improvement: Careful chasing double tops on stocks that are moving 20-30% up - can always go higher. Could also be getting much better fills closer to the levels.

 

MID MORNIG NOTE - my entries aren't great - need to fight for price. Leaving myself exposed with wide stop, small size and requiring a huge move in order to have a decent R/R.

 

AAPL - Long - 1min - Breakout (Overtrading)

SPY making highs and I just wanted to get in to join the action…not great R/R here as HOD is nearby would be taking profits into that level. SPY also coming up to potential rejection on daily. On this strengh it shuld be moving in my favor right away buts its not. Got stopped out.

Improvement: Quite extended taking it long into HOD hoping it would rally. Chasing…



SPY (Trade #2) - Short - 1min and 5min - Double Top

SPY looked like double toped and selling volume accelerated, failed pop had no strength  - short as we rejected off the MA with a doji. Worked out right away and took partials into previous levels which acted as support. Left final partial and took it off as it broke 20EMA on the 1, and made a new 5 min high.

Good: Waited for nice confirmation here with volume coming in, and MA cross + reject.

 

 

AAL (Trade #2) - Short - 1 min - VWAP Break and Go (-1 for not using risk hotkey on the scale in)

Was waiting for airlines to turn, and AAL was weaker than DAL so I took it short as it broke VWAP, tested and failed to hold. Consolidated above VWAP and almost took me out. Dropped back down, on selling pressure and thought this would be it for AAL. Bounced off VWAP - rejected with bearish dojis on the 1min. Dropped below, and failed to break again so added on to my short. Ended up moving up from there and taking me out.



SPY (Trade 3 and 4) - Short - 1mind and 5min- Double top and add on failed pop
SPY starting to look weak into the close, pushing up but failing to make highs. Took it as we saw some selling volume pick up and broke the MA's. Stop was pretty tight just above consolidation. Just about took me out and didn’t like price action as candles made higher and higher lows on the 1. Took partial off. As soon as I did market went into a free fall with no moves up at all. Sold partials into MA and another partial into previous support, intention to add on failed pop. Didn’t give me a chance till close with a nice failed pop into VWAP for a quick scalp.

Improvement: Honestly not the best setup here, could have easily went against me. Should have been shorting into the break of consolidation rather than coverting the first 2 timnes. No need to be covering my first position - what is that, why getting scared???

 

AAL (Trade #3) - Short - 1min - VWAP Break and Go

Still had the thesis that airlines would selloff into close, perfect opportunity as SPY got absolutely hammered. Selling came in, and held just under VWAP, at previous support. Failed to hold VWAP and broke down on heavy volume - took it short and took partials all the way down as volume tapered off a bit, left final partial on for retest of MA.

Good: Took advantage of opportunity and full market sell off, and stayed with my thesis after getting stopped out a few times on AAL.

 

 

Todays Review:

Only reason I'm  green on the day due to a major drop in markets into the close - got lucky. Poor performance in many different areas. Chasing the action way too much. Creating a list before and barely even watched the cruise lines today - they have been very good to me, and completely ignored them as I was busy going from one symbol to the next. Analysis paralysis.

 

Noted that my entries tend to be pretty poor, causing a wide stop loss therefore smaller size (using hotkey for $ calculated risk per trade). Need to fight for price.

 

Need to find 3-4 symbols, plan the trade and then trade the plan. Rather then jump around randomly.

 

Daily Report Card

1. Only Take trades using risk calculated hotkey = 11/12

2. Placing trades with defined risk, and profit targets = 8/12
 

Poor job on the report card. Overall just wasn't there today. Felt like a chicken with its head cut off.

[Valentin 84]

1 hour ago, Rob C said:

Great entrance on your 1st CCL trade. Perfect spot.

Thanks Rob - I agree on the entrance, however, should have been adding into the trade rather then taking off first 2 partials. Overall pretty happy with it though!

[Valentin 84]

Day 56 - March 26, 2020 
25 Tickets 
5  Symbols
Red Day (Max Loss)

Watchlist:


F - Short - 1min - Breakdown? (Chasing)
Was trying to hold Previous day close but broke throuhg on large volume. Expecting this to follow through as SPY seemed like it was potentially topping. Got in way too late, right into averages as support. Made a double bottom but I didn’t take the chance to exit - instead waited for top tick. Brutal.

Improvement: No entry signal here, and shorting into a lot of support. Stop was wide as well. This is not a trade I should be taking.

 

DAL - Short - 1min - VWAP Bounce and Reject

Took DAL on the rejection of VWAP - target is previous day close. Didn’t wait for confirmation here - would be better to wait for 2nd rejection. Was also watching AAL which seemed quite a bit weaker than DAL. Got stopped out above previous close (After thought - maybe too early for VWAP rejection to work in first 20?

 

 

WORK - Long - 1min - Technical Breakout (Ascending Triangle)

Had WORK as long bias on my watchlist, was making a nice run at open then consolidated into a ascending triangle. Saw SPY moving up so took WORK as it broke out for a planned scalp through 29.2 resistance.  Went in again for a quick scalp, didn’t go right away even though SPY was ripping - sold half, stopped out for the other half.

Good: Took partials into my scalp as planned.

Improvement: Exit wasn’t planned on the second, if it doesn’t go my way just exit and move on no point cutting half and hoping.

 

Took a little break from screens.

CCL (Trade 1) - Long - 1min - Breakout (Anticipation) (Sub Setup: ABCD)

Cruise lines running again - NCLH and RCL breaking out - looking for CCL  to test highs (little bit weaker than the other ones but expecting this to follow. Definitely took the wrong one - NCLH and RCL both breaking, CCL struggling to make a new high. Started taking partials as it wasn’t going my way. Took another one at HOD. Left the rest to run and adjusted to break and of 20EMA.

Improvement: Didn’t follow my plan here - had a tough time deciding which setup this was…Breakout? Extended ABCD? Breakout Pullback? Too late for a ABCD/breakout pullback, to early for a breakout…also terrible trade management - poor setup turned into a 2R winner and I didn’t take it…

 

 

CCL (Trade 2) - Short - 1min and 5min - VWAP Break and Go (-1 No eisk hotkey entry on Scale in)

VWAP acted as support all day, finally broke and tried to reclaim but couldn’t. Took it short on the breakdown with above previous VWAP high. Bounce of yesterdays high and tested VWAP again, failed so I added more. Bounced and took me out at my stop. Came back down VWAP and made a lower high - tried another short. Took partials too quickly didn’t want to get faked out, and again as it looked like holding, with final stop loss.

Improvement: Could be getting better fills on these to tighten up risk.

 

 

RCL - Short - 1min - Technical Breakdown (-1 Adjusted Stop, -1 Didn’t use risk hotkey)

Absolutely terrible. RCL and cruiselines sold off hard missed the whole move. Was in CCL and it started coming down saw RCL volume picking up as it broke LOD so I took it short and got bottom ticked, took too much size and stopped out at MA. Looked like it failed and came coming back down took it short again as a revenge trade - stopped out right above previous high - took too much size.

Improvement:

- Took too much size (didn’t use risk hotkey)

- Adjusted Stop

- Revenge trading

 

 

 

Trade Review:

One of those days….broke almost every rule in my rule book, which brought me to a much deserved max loss day. 1 step forward, few steps back.

Stepping to the drawing board, taking tomorrow off trading as a rule after every max lass day. Review
 

Daily Report Card

1. Only Take trades using risk calculated hotkey = 6/8

2. Placing trades with defined risk, and profit targets (No adjusting) = 4/8
 

Know what I need to do, lay it out - but just cant follow through. Just started the report card, but so far its been pretty rough. Need to really focus on this in order to get the discipline down.

 

Plan for Tomorrow and for the weekend:

1. New Journaling Template - current template is very vague, seems like I just ramble with no structure.
2. Exit Hotkeys - 1/4 Position at T1, 1/2 Position at T2, 1/4 position Reason to exit
3. Create new process for finding stocks. Getting over crowded with others ideas. Need to be at screens, 5-5:30 doing research, find 5-10 names and then prepared for pre-market prep with the BBT crew to see others thoughts.
4. Review, Review, Review 

Edited March 29, 2020 by Valentin
Update Report Card

[Valentin 84]

Day 57 - March 30, 2020 
30 Tickets 
5  Symbols
Red Day

Watchlist:



CCL (1) - Short - 1min - Technical Breakdown (In front of 12 break)

CCL halted - didn’t want to push up after it opened - rejected off MA and started coming back down. Huge wall of bids at 12 - took it short in front of the wall, looking to break down. Realized it was extended but still took it.

Improvement: Need to be taking profits on these breakdowns, especially when they are this extended.

 

 

ABT (1) - Short - 1min - Breakdown (1min didn’t look at the 5 - extended)

ABT gapped dup and selling off into the open. Opened up and continued to sell hard, broke through VWAP and made its way through premarket low. Had the Idea to short the break, but hesitated and ended up shorting on the drop after that. Too extended from VWAP and MA's, realized that after the fact and got out for half - should have taken full off - not a great play here.

Improvement: Over extended here, not great for R/R - not a great area to define risk off of. Need to be making decision based on 1 and the 5, didn’t look at 5 until after entry (wtf?)


 

 

NCLH - Short - 1min - Technical Breakdown (Descending Triangle, sub: VWAP Bounce and Reject)

NCLH short on the breakdown on descending triangle, entry was the break of consolidation after getting rejected by VWAP and the MA's - stop right above previous candle. Once again 5 min candle is losing selling power. NCLH is the weaker one of the cruise lines - look for continuation. Small move down for a breakout and then squeezed hard to HOD.

Good: Happy with keeping my stop tight. Overall I am ok with this trade as I followed my game plan.

 

Thinking to implement  a mandatory break (30mins?)  after taking 3 losses in a row.

 

SPY (1) - Long - 1min - Technical Breakout

SPY strong after testing previous cay close, making nice higher high higher low. Ended up taking it after it broke through previous high, and then continued up catching the top tick and got stopped out on a tight stop below previous consolidation.

Improvement: Not happy with this entry, chasing this hard. Need to wait for  consolidation to break of previous consolidation on 5 rather than 1.



 

ABT (2) - Short - 1min - Technical Breakdown

Watching ANT reject 81 level and cant get passed it, making a lower high. Was about to enter just waiting for break of MA, and then got a huge red candle down - missed entry was a little choked. Waited for it to consolidate for a bit in order to get a level to risk off - indecision candle. Took it as it broke down through previous candle low, with stop just above. Short into support of premarket - once again not a great way to short. Stops are a lot tighter - but this is a bull catalyst.

Improvement: Have to be cognisant of levels, shorting this right into premarket support. If you miss the setup, move on - don’t chase the drop that hard - WAIT FOR ANOTHER SETUP.

 

 

CCL (2) - Short - 1min - Failed Pop

Took CCL short after it failed to break through MA's and broke down - took it at the new 1 min low, stop above previous candle. Was hesitant taking this one as I took it while it was coming up rather then already breaking down (Much better R/R this way).

Good: Entry was nice right at first candle confirmation of rejection of MA and break of 1 min low. Harder to get in up here

Improvement: No need to panic and exit on 3rd and 4th exit - exact same setup as my entry - coming into the MA.

Learning Note: Saw LVL 2 seller stepping down every few cents with large size, driving price lower - need to do more work and studying on LVL2 as it looks very bullish after reviewing video.



 

CCL (3) - Short - 1 and 5 min - VWAP Break and Go

CCL working how I thought - after I got stopped out. Came through previous low, and VWAP hovering just around there. Looking at RCl and NCLH - looks like they have made a bottom - not good. And these things have potential to squeeze…

Improvement: Buying to close to the breakdown - notice how the one that I did earlier worked out because I bought the top of the failed pop
 

 

SPY (2) - Short - 1 and 5 min - Double Top

Noticed I was overtrading before this trade, but kept trading….SPY looks like it kept rejecting 260 on the dot and initially was thinking to buy the breakout but couldn’t break through. Took it at a 3rd rejection with the thought that this could be the top and we could see it come down and test previous low at that support. Was wrong pretty quickly as it held the MA and bounced right through, and I filliped positions.

Improvement: Should not be trading this when I feel like I am over trading. Careful going short in such a strong market - SPY going up on bad news after bad news……

 

 

SPY (3) - Long - 1min and 5min - Technical Breakout (-2 = No Risk Calc, No stop placed)
Flipped my position on the breakout as my initial idea seemed right - breakout and rally on this strength and volume. With stop at the same level below that 260 breakout level. Ended up adding to this position and adjusting my stop as I manually exited.

Improvement: I would be fine with trading the breakout, but not flipping from one to the other - just seems like I'm chasing the action. Also broke rule with No risk calc, and no stop placed (-2)




ZM - Short - 1min - Failed pop

ZM was on secondary watchlist - just scrolling through watchlist looking for some action - this is BAD. Noticed huge sell of on ZM, and saw it drop green to red and retest - ended up shorting on the failed pop with a tight stop above previous wick high and into 20MA.

Improvement: Shouldn’t be shorting this right after the drop - need to wait for it to come up a bit, retrace back to MA's and reject. Clear sign as soon as MA crossed around 2:35. DON’T BE SO TRIGGER HAPPY - wait and ask, where are we trading now and where did we come from - how did we get there?


 

 

SPY (4) - Short - 1min - Double Top

Tried catching SPU on a double top earlier but no luck, was still thinking we would sell off into the close like we have last couple of days. Saw the double top forming, and a lower high. Took it on the break of previous candle close confirming the double top. Worked out in my favour instantly - taking covers into. Levels where price previously held into target at 260 which is a daily level. Left partial on was thinking to leave for rest of day but move felt extended so I covered the rest.

Good: Way to stick with my idea of sell into close but waiting for the right opportunity. Good entry with a tight and defined risk.


 

Trade Review:

Notice I am taking trades based off MA and VWAP - but not looking at 5 min or LVL2 enough - need to incorporate this into my trades. Also not being selective with my entries - jumping all over the place..and chasing breakouts - I have never been a good breakout trader, why am I doing this? (first 5 trades were all breakout/breakdown)

 

-Noticed that on both of my wins, I was somewhat uncomfortable as they were taken close to the level of breakout vs after the breakout. Pushing up into MA's but made a lower high and rejected nicely.

-Losses I was shorting when it was over extended (missed the breakout) I need to be taking the play when MA's are tight together and consolidating, tight stop and easy to get a big R/R

 

Couple of the trades looked identical (NCLH and ABT2 - took out consolidation and came back up.)

 

Questions to ask before jumping in:

-Where is the price now vs levels of support and resistance?

-Where did the price come from?

-How did the price get here? Is it extended and turning parabolic or controlled and consolidating?

-Is the risk defined?

 

Daily Report Card

1. Only Take trades using risk calculated hotkey = 10/11

2. Placing trades with defined risk, and profit targets (No adjusting) = 10/11

[Valentin 84]

Day 58 - March 31, 2020 
23 Tickets 
5  Symbols
Red Day

Watchlist:



AAL - Short - 1min and 5 min - Failed Pop (-1 Adjusted stop) DID NOT FOLLOW MY MORNING GAME PLAN

Was watching AAL wanted to short the previous breakdown but too extended. Waited for consolidation with MA's Tightening, Took it short as I saw the asks pile up at 12.38 and seemed like seller was stepping down. Stop just above previous high - got stopped out. Looking at it after -  clear double bottom, why am I shorting this?

Improvement: Making a watchlist with a game plan, and completely ignored it (Long at 12.2). Need to be stepping back and thinking about this. AAL has potential positive news, sold off hard into premarket level, and previous day close and consolidating.


 

ABT (1) - Long - 1min - Technical Breakout (Ascending triangle with VWAP as support)

ABT was holding just under VWAP making a tight range and holding above MA's, took it long as we started to get some volume coming into the breakout with stop just below consolidation. 1st Target hit, and adjusted my 2nd stop (2R) as I didn’t like the rejected of MA. Left the rest ride and got stopped out ad my stop loss, below MA and VWAP.

Good: Had the right idea for a scalp

Improvement: This could be a quick take profit and let 1/2 ride as its momentum.

 

 

SPY (1) - Short - 1min - Failed Pop (Sub: Double Top)

Watching SPY reject off the 263 level, looking for the double top. Finally started to make lower highs and lower lows with MA's tightening. Ended up taking it short as it rejected 9,20 and 50MA thinking we could test VWAP and potentially end closer to LOD. Absolutely terrible trade management, and got hunted on my stop loss..got top tick and missed the whole move.

Improvement: Need to have a better game plan here - trade management was brutal. Covering for no reason multiple times? Why am I so scared..


 

 

SPY (2) - Short - 1min - Failed Pop (-1 Adjusted Stop)

Top ticked on my stop loss right before the big drop and Avoided chasing SPY all the way down, was thinking to ad the VWAP but thought we would see a bounce into Previous day close. Then ended up getting in at the very bottom - figures…Very poor control. Adjusted my stop as realized how stupid this was. Change or character as buying came in. Still short biased - but looking for a test into VWAP. Adjusting stop was actually a good idea here as this was a terrible entry.

Improvement: Poor self control, waited all the way down and then FOMO'd at the bottom. Too extended from 5min and 1min - wait for them to curl up, tighten up and then break for a much higher probability play.

 

 

ABT (2) - Short - 1min and 5 min - Failed Pop (extended on the 5)

Lots of selling into previous day close, looking like we might have a dead cat bounce and make its way to yesterdays LOD with stop above previous consolidation. Ended up being an absolute chop fest, scaled out slowly and just took off at the end as Looks like it was turning up potentially.

 

CCL short - 1min and 5 min - Failed Pop

Sold off hard with rest of market and found support at previous day resistance. Was waiting for it to consolidate, took it short as it rejected the 50M and broke down through the 9 and 20. Stop just above previous candle and target at previous support. Ended up getting in to early and got stopped out.

Good: Tight stops

Opportunity: Great opportunity to re-short here after getting rejected by the 200 and making a double top on the 1min., also kept trying to push higher but couldn’t close up. Perfect breakdown, brining it down to my target.

SPY - Short - 1min and 5 min - Failed Pop

SPY was moving back up off the bounce, thinking we could see a further move down as selling volume coming in was pretty heavy. Took it short as it couldn’t get through 20MA on 5, and looks like couldn’t get through MA's on 1, short as it failed to make new high and broke down. Started taking partial pretty quick as there wasn’t much time, ended up getting out on drop and stopped out on the big wick up.

Good: Tight stop and quick partials

Trade Review:

Feeling a little more confident, but still making the same mistakes. 95% of the day I am in control, no FOMO, waiting for the setups to come to me, then the other 5% I seem to absolutely lose it and it costs me...Another thing I notice is I am making a pretty good watchlist with a simple game plan, but completely skips my mind once the market opens. Notice I'm just watching charts and getting lost in the tick to tick action vs stepping back, looking at the bigger picture.

 

Questions to ask before jumping in:

-What is the bigger picture? What is going on here?
-Is this an A+ Setup?
-Is this the best entry I can get, if not be patient and let the price come to me.

 

Daily Report Card

1. Only Take trades using risk calculated hotkey = 7/7

2. Placing trades with defined risk, and profit targets (No adjusting) = 5/7

 

Edited April 1, 2020 by Valentin

[Valentin 84]

Day 59 - April 1, 2020 
25 Tickets 
5  Symbols
Green Day

Watchlist:



M - Short - 1 and 5min - VWAP Bounce and Reject

Getting delisted from S$P thinking this could have a negative impact on M... Came down quick was watching for it to retrace. Rejected VWAP with 2 upper wicks, took it short as it broke back through with stop above previous wick. Took partials off as I was thinking we would fall right away, and another partial as we came to the descending tip - took final off on the huge volume spike.

Improvement: Taking partials too quick. Put in my auto targets, but adjusted. Not exactly comfortable trading these low price stocks and don’t know how they move…..

 

 

CCL (1) - Long - 1min - Double Bottom

Took CCL as it carved a double bottom and made tight indecision candles after a big selloff and seeming a little extended. Took it as it broke through previous high thinking we could move back up to VWAP and HOD as these things can really move. Took a partials as we moved into VWAP and MA and took some, and adjusted the rest to break of new 5min low and previous consolidation.

 Note: Watching the fight on level 2, looks like sellers kept stepping down and taking out the bid.

 

AMD - Short - 1min - Double Top (Not on Watchlist)

Not on my watchlist, heard this get called out as it was rallying. Kept an eye on it as it looked over extended on the 5. Got rejected hard a couple times off the 46.5 level and couldnt break through. Took it short on the new 2min low (Parabolic Reversal), with stop above level which kept getting stuffed, SPY was looking somewhat weak as well. ADJUSTED and took partial off once it came down to break even - too much strength, trading ab-normally compared to SPY on a regular day……

Improvement: This isn't one of my setups but I like these reversals - trying something new out. Should do more research on this before implementing.

 

UBER - Long - 1min - VWAP Break and Go (stop 28.09)

Had UBER on watchlist watching the 25.5 level as it has been a strong support for past 4/5 trading days. Has come right down to it first hour and then back to HOD…thought same might happen here. Has strength coming off the Double bottom, and paused briefly as VWAP. Took it long as it broke through and continued.

Improvement: Need to watch my stocks on my watchlist….Missed the double bottom play here - as I got excited and played AMD after it got called out in chat..Stop watching tick by tick and chasing action vs letting the plays come to me. Hotkey Mistake..

 

CCL (2) - Long - 1min - Reversal (Fake Breakdown) 13 c risk

Haven't really played this setup before….but saw the HUGE bids piling up and get taken out at 10.65 on the descending triangle, looked like a huge fake out on the breakdown with lots of volume done and then coming right back up on strong volume so took it long (chased and cought the top) got stopped out and then watching same pattern for reversal. Took it as it made a new 1min high off the 10.5 hold on Lvl 2 (Huge bid) and sold partials into previous levels and on the way back as it broke through consolidation.

Good: Entry was much better on the second play, right out of the break, rather than chasing.

Improvement: Chasing this hard on the first one..need to catch the new 1min high, vs buying the top. DO MORE RESEARCH on these reversals. Aslo cant have a bias going into these - was heavily biased on CCL.

 

SPY - Short - 1min - Failed Pop

SPY hard rejection of VWAP and started coming down, consolidated but making lower lows and lower highs. Took it short as it rejection MA's and made a new low after the bearish doji. Went my way but I panicked and covered half……instantly dropped and took another partial off, adjusted my stop to break even and got stopped out right before the 3-4$ drop….

Good: Had the right idea

Improvement: Terrible trade management, got scared out of my position and covered quickly…then adjusted my stop and got top ticked right before the major move down.

 

Trade Review

Happy about my risk management today, for the most part is was very defined and stops were decently thought out. Adjusted my stop after taking partials and got stopped out. Which seems to be an alright strategy in order not to give back profits, however losing out on a lot of profits as the play could still be intact.

 

Noticing I am still adjusting my profit targets a little too much. Need to place them and let the idea play out. This cutting half of the trade is a weird thing I am doing. Panicked and cut half on AMD and did the same on SPY…..if I made a wrong play I should be getting out full position and re-assessing, vs getting out for half and hoping.

 

Been trying to incorporate Parabolic Reversals as I really like this play, but NEED TO STICK TO MY SETUPS until I do research, and incorporate them into my playbook.

 

Questions to ask before jumping in:

-What is the bigger picture? What is going on here?
-Is this an A+ Setup?
-Is this the best entry I can get, if not be patient and let the price come to me.

 

Daily Report Card

1. Only Take trades using risk calculated hotkey = 6/6

2. Placing trades with defined risk, and profit targets (No adjusting) = 5/6

[Valentin 84]

Day 60 - April 2, 2020 
30 Tickets 
5  Symbols
Red Day

Watchlist:


 

 

ZM (1) - Short - 1min - VWAP Bounce and Reject

Missed ZM on the way down, then consolidated, came up into the VWAP and seemed like it had indecision on increased selling volume, Took it short but it stopped me out for what seemed like a VWAP break and go instead.

Improvement: Wait for confirmation, this was very strong, [picking up buying power and held VWAP - Decreasing selling vol on the 5, solid volume on the bounce - should be avoiding this and thinking long

 

ZM (2) - Long - 1min - VWAP Break and GO (Chasing)

As soon as I got stopped out I realized this was retesting and looking to break VWAP and go..flipped my position on the next candle breakout and took it long with stop just below VWAP - instantly stopped shook me out and then continue on to HOD as planned.

Good: Was the right idea on flipping position and going long to HOD as I realized it had strength.

Improvement: Terrible execution. Need to wait and fight for price. If I'm patient I can get in on next break and hold of VWAP of at 10:15 when it retest on small volume and hold MA's BE PATIENT. Better entry would have also give me a better stop.


 

 

CCL - Long - Ascending Triangle  (anticipation, Lvl 2)

Saw the velocity of LVL 2 getting taken out on the ASK - took it in anticipation of breaking ascending triangle. Target up to previous day close, stop below VWAP. SPY coming up as well so have double confirmation. Didn’t work out, broke down.


 

 

CVX - Long - Technical Breakout (News - Trump tweet, -1 Adjusted Stop)

Really not quite sure what happened here. Emotions got the best of me and seemed like I placed the order without even thinking about it…… Oil up on news Trump mentioned Saudi and Russia looking to play ball. Didn’t even read or look into it much, just jumped on the first name that came to mind without even thinking about this…

Improvement: This should not be taken, not even a question I shouldn't be making this play.




 

SPY (1) - Short - 1min - Breakdown (anticipation? -1 Adjusted Stop)

Lower highs, thinking we will go lower lows. 1min rejecting off the MA's 9 and 20 crossing the 50 as well.  This isn't a great entry…chased and got it on the breakdown vs letting come up and getting a much better fill. Should have waited for it to come up into 250.5 and short the first candle down. Too much strength on the spy right now. Told myself I would take a break after this Break after this.

Improvement: No game plan here - just shorting hoping it breakdown. Need to have a specific idea, much rather risk it at the highs for a huge reversal than once were at the lows hoping to break a bit lower.

Note: What is the idea here? Taking an extended short into support - this is terrible.


 

SPY (2) - Short - 1min - Failed Pops (3x, -1 Adjusted Stop)

Short again, thinking this could be the top - but clearly looks like a flag that will push higher. No reason to be going short here. Got suckered into lower lows and lower highs. Taking off partial as we retest previous level and into VWAP then got stopped out B/E. FOMO again as I felt like I got stopped out at top and tried to go short again, adjusted to breakeven as it didn’t break right away. Final short, I made a hotkey error on profit target and covered right away for half, and the rest on stop loss.

Improvement: Over trading here. 1 decent short on the first failed pop but other than that im just chasing, no reason to be stuck with this many ticket while its ranging.

 

LK - Short - 1min and 5 min - Failed Pop

Stair stepper all the way down, hit the MA's and rejected like it has in the past. Looking for this to continue down, till take partial at previous level, and hold for LOD. Was kind of wary on this as shorts could be covering into slow, but lots of selling pressure here on the way down. Another thing I didn’t like was 2 green candles in a row on the 5 (first time in hours….)

 

SPY (3) - Short - 1m and 5min - Failed Pop and Breakdown (3x, -1 Adjusted Stop)

Overtrading hard. Huge Bias on the short side, just didn’t want to admit I was wrong. Kept forcing the short, over and over. Turned out to be a 3R overall - brutal.

Improvement: Need to close the position and step away as soon as I get to obsessed with an idea. Got caught twice on SPY both on upswings….

Trade Review

Really not impressed with my trading.. At all. Looking back at my plays, terrible ideas, going back and forth between way too many setups, chasing action, cant stick with plan, trying trend lines and all this new stuff...NEED TO STICK WITH WHATS WORKING.

Was pretty biased today which hit me hard. Don’t have a bias, as soon as you feel obsessed with an idea step away - GET THE FCK OUT OF THE HOUSE and take a breather. Notice I am having problems with just stepping away.
 

Things that have been working lately - PLANNED PLAYS, which are thought about in pre-market. Shorting toward the top, once it turns over vs shorting at the bottom. Going long near the bottom of the breakout, vs going long at breakouts toward the top. Cutting stops at my stop loss.

 

Daily Report Card

1. Only Take trades using risk calculated hotkey = 12/12

2. Placing trades with defined risk, and profit targets (No adjusting) = 8/12