Valentin 84 Posted April 5, 2020 Day 61 - April 3, 2020 17 Tickets 3 Symbols Red Day Watchlist: Poor preparation, didn't have my levels mapped out for the plays that I wanted.... TWTR(1) - Long - 1 min - VWAP Bounce and Go TWTR dropped and bounced nicely from previous day level, came up and tested pre market levels. Took it long as it held VWAP and looked to move higher. Tight stop just below VWAP and previous candle. Quickly retraced on the 1 min, and took me out. Improvement: Need to do better research and finding levels. 23.55 was a major levels (previous day high, and acted as support the day prior. Missed the opportunity first minute (although trading first 5 min is not in my game plan) SPY (1) - Short - 1min - Failed Pop (247.61) Was waiting for spy to come back into 50MA, and took it off the rejection, stop just above previous candle. Took partials at 1.25R, took another one off as I didn’t like the 5min volume increasing and final got stopped out. Good: I like the patience waiting for this as I had the urge to take it previous failed pop. Although not a big winner - followed my plan. Improvement: Should have realized there was a change in character, volume came in larger then on previous pops. SPY - Short - 1min - Failed pop Took SPY as it broke through consolidation range and popped back up, thinking we would reject MAs and continue to LOD. Tight stop above previous candle high. TWTR (2) - Long - 1min and 5 min - Technical Breakout (Ascending Triangle) TWTR setting up for a breakout from its range, with volume coming in. Making higher highs and pushing right up against range resistance, took it on the breakout thinking we would retest VWAP. Didn’t leave myself much time as I was chasing into the close. Improvement: Could be cutting this a little quicker as it didn’t work out - expecting a momentum break that works right away. Also could have bought on the dip into MA's rather than waiting for the break which faked me out. Not a great R/R and time was against me.. CCL - Long - 1min and 5 min - Technical Breakout (Range) ( -1 No defined profit target - otherwise you shouldbt be taking this trade..poor R/R) CCL was making a range at 8.6 and 8.45, ended up taking it as it broke the range and held. Covered half just under breakeven as I didn’t like price action and realized I was chasing again…other half was taken out at stop loss below MA's. Improvement: Shouldn’t be in this play - chasing the high right at the close, into resistance.. SPY - Short / Long Flip - 1min - Over trading + Revenge Trading ( -2 Position sizing and no defined target/risk) This one I am not happy about at all…watching SPY making lower highs 3 times but didn’t enter…ended up making a huge spike and I entered thinking we would reject and continue with lower highs (not in game plan) and got stopped out right away…made its way up to VBWAP and looked like holding so I took it as it made a new high on 1 min after consolidation. Stopped out right below VWAP Improvement: Over trading / Revenge Trading. Was hoping on both of them. Realized they weren't good plays so I took smaller size and didn’t use my risk hotkey. Noticing I am making very poor plays into the end of the day, need to be stepping away. Trade Review Same thing over and over, slowly being able t control my trading at the open - but after watching charts throughout the day seems like my mental ability to control myself drops and I jump in with a few terrible plays. CCL and TWTR both chasing the highs into the close, SPY flipped position on plays that aren't in my setups? Really have to re-focus and work on the setups that make sense to me and that are working. Past week or so I have been deviating from my plan and it has shown. Trading results and confidence both took a beating. Daily Report Card 1. Only Take trades using risk calculated hotkey = 5/7 2. Placing trades with defined risk, and profit targets (No adjusting) = 4/7 2 Share this post Link to post Share on other sites
Valentin 84 Posted April 7, 2020 (edited) Day 62 - April 6, 2020 4 Tickets 1 Symbol Green Day Watchlist: AAL - Long - 1min - VWAP Break and Go Had DAL on watchlist and saw it forming higher highs and lows coming through VWAP. Ended up switching over and taking AAL instead for some reason. Looked like a double bottom has formed and made its way through VWAP, came back down held, took it on the second break with stop just below (tight). Took partial off at previous spike (planned) but adjusted my 2nd order and took it off to early. Took the final partial off as we approached HOD. Good: Good patience on waiting for it to come back down and confirm. Improvement: Held VWAP after my first partial, could have added. Also Need to be leaving my final partial to ride and let it break 1min. On way down. Would have gotten 20c better fill on first break of 1min. Trade Review Lots of opportunities today, but I didn't like the price action. Really trying to focus in and be a sniper, vs a machine guy "spray and pray" with my trades. Changes looking to implement and see how they impact my trading - 4 Symbols max per day - Thinking of doing a max trades per day (5/6) - Adding more time frames into my decision making process (1 min and 5 min are nice, but I am losing track of the bigger picture) Daily Report Card 1. Only Take trades using risk calculated hotkey = 1/1 2. Placing trades with defined risk, and profit targets (No adjusting) = 1/1 Edited April 7, 2020 by Valentin 1 Share this post Link to post Share on other sites
Valentin 84 Posted April 8, 2020 Day 63 - April 7, 2020 16 Tickets 4 Symbol Red Day Watchlist & Game Plan: AAL Game Plan Long If drops at open and hold VWAP, look for a long on VWAP bounce If drops to PML 10, watch for double bottom and take it as it looks to break out If opens up right away at break 11.1, watch the retest of 11.1 for a breakout pullback risking that level Short If opens up and goes to test 11.1 but doesn’t make it all the way, look to short the double top If opens weak and drops below VWAP look to short as a VWAP break and Go down to 10. RCL Game Plan - Inflection 35.5 Long If opens up and breaks 35.92 and hold that level look to go long on momentum pullback If drops into VWAP but overall market is strong, look to go long on VWAP bounce and reject Short If opens up and goes to test 35.92 but rejects look for a double top If opens down, holds VWAP and comes to test 35.5 reject look to short If comes down through VWAP and holds under, look for a short down to 33 level AAL - Short - VWAP Break and Go (anticipation, -1 Adjusted Stop) Shot up through PMH into R1, rejected and came down through VWAP. Game plan was to wait for retest of VWAP, and break for the 2nd time - ended up taking it in anticipation and got stopped out above previous candle high. Improvement: Didn’t follow game plan, no confirmation on 2nd break of VWAP, 5min too choppy no clear signals. Discipline control here - wait for my entry signal (especially at market open) RCL - Short - 1min - Double Top RCL up at open then came back down to test breakout level. Held nicely and started coming back up. Ended up going straight to R2. Looking a little over extended, waiting for the double top - put in a shooting star doji and failed to make a new high so I took it short (little late on the entry) and took it down. Took partials WAY to quick…and then let the rest ride into VWAP which was planned. Good: Patience was solid on this, waiting for double top, however, I should get in as soon as it break 1 min previous candle after failed move up - could have gotten more size based on risk. Improvement: Need to configure my exits for the double top - first entry was WAY to early… SPY (1) - Short - VWAP bounce and reject (-1 Adjusted stop) SPY had a strong pus up back to VWAP and started consolidating. 1min tested over, held and then looked like a minor double top, broke down and then tried to retest but rejected hard. Took it on the drop after rejection on the 1 Tried to place hotkey targets, but took partial off accidently luckily. Looked at the 5min and it was a normal pullback. Due to error, it allowed me some more space, so I adjusted stop above round number of 272. Improvement: Need to be using multiple time frames to make this decision. NO ADJUSTING STOPS….luckily I covered partial which allowed me to move stop as I made some profits to cover 1R loss but this is terrible habit. Stepping away from trading - noticed I was getting a little trigger happy, nothing thinking straight. 10 minutes later…… CCL (1) - Long - 1min - Technical Breakout (Chasing, not on main watchlist, -1 Adjusted stop) CCL making its way through VWAP and breaking through PMH, took it as it broke and made a new recent high, took it close to the top which is against my rules. Realized I was on tilt and shuoldnt have taken it so I took off half….. And adjusted stop to VWAP, got stopped out. Good: Realized I shouldn’t be in this and took of partial Improvement: Many things wrong here which all point to this trade shouldn't have been taken at all. Knew I was on tilt, needed to step away but came back to early and went straight into action Adjusted stop Chasing Not in my watchlist - focus on your top 2-4 and forget about the rest. CCL (2) - Short - VWAP Bounce and Reject Got stopped out of CCL and watched it bounce off VWAP, but make lower high, then continued down. Looking weak. Ended up waiting for another failed bounce through VWAP and took it as it wicked down and couldn’t hold above. Stop was pretty tight, ended up getting stop hunted and having my stop loss cover at the top tick, before it went down 5R+. Improvement: Same thing as earlier, wasn’t seeing market properly, rather then stopping and coming back later in day I continued to force trades and took 2 losses I shouldn’t have. SPY - Short - 1min - Failed pop (Scalp into the close) SPY showing extreme volatility heading into the close, tried to bounce of LOD but failed, took it as the attempt to push higher on the 1 min, failed and broke down. Partialed into previous level and then again into close at profit target just above Previous day close. Trade Review Trying out a new watchlist - 2-4 stock max, and coming up with IF/THAN statements for each. I have had troubles focusing on the bigger picture, and notice I am getting caught in action from tick to tick. This will help me step back, and force me to look at multiple time frames to see the bigger picture. I have noticed a couple times lately where I note that I should be stepping away, catch myself briefly and then get back into it. Good thing I am able to notice this…but my poor self control takes over and I continue trading…this has happened couple of times and looking back I have taken a couple of quick losses right away. "Very important trait GREAT traders have in common is the ability to step away when they know they are on tilt" NEW RULE: - Mandatory 20-30 min break once I notice I am on tilt. (Upload prior trades to Tradervue, 10 minute meditation, water, come back and review the trades) Daily Report Card 1. Only Take trades using risk calculated hotkey = 6/6 2. Placing trades with defined risk, and profit targets (No adjusting) = 3/6 1 Share this post Link to post Share on other sites
Valentin 84 Posted April 9, 2020 Day 64 - April 8, 2020 25 Tickets 3 Symbol Red Day Watchlist & Game Plan: PINS Game Plan Long If it drops to 16 and holds, look for a long as this is a daily level this could hold target back at 17+ If this moves up right at the open, watch 17.16, buy on break through and hold above If sees a major drop through 16 S1 down to 15S2 (PDC) look for a long reversal off double bottom Short If drops through 16, tried to retest and below VWAP, short down to S2 at 15 If retests 17 couple times and making lower highs, look for double top LEVI Game Plan Long If it breaks through 12.56 look for a retest and long on it holding If drops down to PDC at 12, look for a long reversal into 12.6 If drops to straight through 12 no testing, look for a long reversal from 11.58 PINS (1) - Long - Reversal (x2) Had a few ideas on PINS, was long biased. Game plan was to buy long on 16 if it held. Got a little to excited (also not in my setups) and got in as soon as 16 confirmed initial bounce. Entry was poor, and my stop was even worse 16.02? Didn’t even put it under 16 round level. Stopped out, then continuing trying to catch the knife, bought as it held 16 again, revenge trading as I didn’t want to miss the move up after getting stopped out. Took partial off right away as realized I needed to wait for confirmation. Stopped out with the rest….. Improvement: Need to do more research on this setup, idea wasn’t completely wrong, just didn’t have a process for entry confirmation - got in way to early. Proper entry here is 10:10 once double bottom confirms and bounces back - bullish. PINS (2) - Long - 1min and 5 min - VWAP Break and Go Idea played out, but didn’t get an entry…ended up waiting for the test and hold of VWAP, taking it long as it helf both VWAP and MA's. Hot keyed the entry, but shot up and got top tick poor fill. Came back down and tested VWAP, this would be ideal entry. Spiked up and I realized there was a MA there so took off 1/4, kept moving up and took another partial off too soon, left final one to ride missed my target by 2cents and came back down to stop me out. Improvement: Could look to add size after the first partial, held the MA and was making a higher consolidation, could be adding it back on and selling back into the size. RCL - Short - 1min - Failed Pop (x3, -1 Adjusted Stop) Was waiting for RCL to hit a double top, but missed the tnry as it didn’t come up all the way. Ended up taking it as a failed pop back into MA's with tight stop, too early no confirmation. Took it again as it roled out, and started falling through MA's - covered too quick, and then again into previous level. Hit 2R but didn’t cover. Stopped out on bounce and hold through MA's, Tried it one more time on the next break down through MA's partialed too easy and then stopped out. Improvements: Trying too hard to force a trade here. Need to be looking on the 5 min - showing no weakness, getting bought back up and closing towards top of candle. Buyer was in tact. RCL (2) - Short - 1min and 5 min - Head and shoulder (-1 Adjusted Stop to Breakeven) Watching CCL, SPY and AAL all looking like they were t hitting a high, ended up taking RCL as it looked like it rejected off a head on shoulder and a bearish doji wicking to the top which is bearish. Didn’t hit my target, but bounced off MA, covered on the next drop into same level in case of a hold. Partiailed to early, and adjusted stop to breakeven. 12:06 Note - market has way to much buying coming in…need to wait for backside. Notice I'm biased short right now and trying to force a position on the short side. Need to wait for confirmation AAL - Short - 1min - Technical Breakdown (chasing, -1 Adjusted stop) Saw it as it consolidated and rejected but didn’t take it..ended up getting in as it broke down chasing…took partials into previous level and another partial as the bid at 11.15 kep refreshing and stepping up..adjusted the rest to stop above previous high. Improvement: Had no deal being in this as Buying was strong on the 5min, and holding above consolidate are from where it broke out. No major signs of weakness, signs of strength on increase in buying. Good opportunity for a long. Todays Review Overall was an okay day…still haven't put together a solid play. Feels like I am close to getting there, but then taking plays that aren't in my setup…then get trigger shy to take the setups that are there. Also not happy about my changing of orders, cheated myself and turned on drag order to change and have moved it MANY timed. Even though I know I shouldn’t. Back to turning that option off, need the computer to restrict me and help my self control… Now that I am sticking to just 2-4 stocks, think I will get caught trying to test the same idea 2-3 times. Be careful with this. Wait for confirmation, get it…if goes your way and offers another chance look for another. Daily Report Card 1. Only Take trades using risk calculated hotkey = 8/8 2. Placing trades with defined risk, and profit targets (No adjusting) = 5/8 1 Share this post Link to post Share on other sites
Mark D. 435 Posted April 9, 2020 you'll get there, keep pushing! 1 Share this post Link to post Share on other sites
Valentin 84 Posted April 12, 2020 On 4/9/2020 at 2:02 PM, Mark D. said: you'll get there, keep pushing! Thanks Mark - Learning a little more and more everyday. Noon said it was going to be easy, just have to trust the process. 1 Share this post Link to post Share on other sites
Valentin 84 Posted April 12, 2020 (edited) Day 65 - April 9, 2020 35 Tickets 6 Symbols Break Even Watchlist & Game Plan: DIS Game Plan Long If DIS drops to S! at 105, look for double bottom, rounding and go long up to 108 If break through 108, watch for the retest to go long Short If DIS fails to break 109 and if SPY is turning over, look for a short double top DIS (1) - Short - VWAP Rejection Initially thinking Long on DIS as good catalyst - but took the short after it rejection 2 off VWAP and came back down. SPY also had a top wick which looked bearish but breaking out - took the position off as SPY was breaking to highs. I think this is a good take off - shouldn’t be in there to premature SQ (1) - Long - 1min Double Bottom (Reversal, -1 Adjusted Stop) Took SQ as it looked like double bottom, slowing selling volume. SPY looks like its turning higher so could see this move back up, stopped out. Realized I didn’t have stop placed in proper location so got in again with stop just below 59.1 level daily level, took partial into the spike and then Added as it looked like it held and looking to push higher. Stopped out partial on break, and the rest below previous candle low below 60. SPY also looks like its trying to break. Adjusted stop to low of previous candle Improvement: Need to wait for the doble bottom to hit that 59.10 level and confirm the hold. Getting in to early. Could possibly test it once off that major level, if it doesn’t work then wait for the 59.1 to test and confirm the hold. RCL - Short - 1min - VWAP Break and Go (Technical Breakdown?) Short after the failed bounce through VWAOP, tight stop - this is a classic VWAP break and go but SPY coming up again - will get stopped out probably…. 5min was losing weakness on the selling and showed people were buying the bounce off VWAP - poor play. DIS (2) - Short - Failed Pop Was watching DIS off the 105.35 level as a major level, was hugging around there, but finally rejected so I took it on the short on confirmation. Covered partial into previous level (planned) and then another partial as it came back up (unplanned) no reason to cover here, hold this and let it work in your favor. Final partial was as it was coming back to previous level, wasn’t a fan of how it was trading so I took it off..as soon as I did it broke 30c right to my target before ei adjusted, thought I covered right into the huge drop… Improvement: No need to be covering on the way back up. Took partial off, let the rest either stop me out or get to my target. CCL (1) - Short - 1min - VWAP Break and Go CCL was respecting VWAP, held the first time closed above, then broke through and tried to come back up - took it on the double doji wick rejection off the VWAP - risking high of previous candle. Got nice share amount as stop was tight, partialed a little to early, then again into previous level. Plan was to hold the rest until MA, but took some more off right before the big move down (should be covering into the big drop) and then got squeezed hard and top ticked my stop loss with slippage. Good: Solid entry, waited for confirmation of rejection, and had a tight stop which allowed for more shares. Wasn’t supposed to trade anymore…closed my platform, then reopened to check my previous trades thinking to send to AIMAN for review. Ended up getting in 2 more trades back to back on FOMO…. DIS (3) - Short - 1min - VWAP Break and Go (Technical Breakout, -1 Adjusted Stop) Think it was a good entry, but adjusted stop as I thought I chased, and the hard rejection candle. Spy making highs to I thought we could break and go Improvement: Shouldn’t have taken this trade as I was supposed to step away from screens, was trading on tilt. SQ (2)- Long - 1min - Technical Breakout Similar thing to DIS - SPY was breaking out of previous level, took it as it rounded off and held the consolidation support. Stop is pretty tight just below consolidation, with target at VWAP+. Couldn’t break through previous resistance, and broke down stopping me out. Improvement: Shouldn’t have taken this trade as I was supposed to step away from screens, was trading on tilt. ZM - Short - 1min - Reversal (Failed Pop) Was waiting for ZM to make a double top. Came close to it but didn’t quite get all the way to previous level so I short as the MA's crossed the 50 and it broke down. SPY also breaking down. Quick flush of ZM into my first target, then sold some more as it tested same level adjusting stop to Breakeven and target at around 121.7…just about got it (missed by 3c) and came back up. Thinking off adding if it comes back to my previous entry but instead covered full. Good: Good entry here with patience, waiting for that the break of consolidation and letting the Mas confirm. Improvement: Got greedy here caused by poor trade management. Goal is T1 to be 1.5R, T2 2R and let rest ride. Took profits too early which made me feel like I needed to ride out the rest, missing out on 2.8R on the final partial. SPY - Short - 1min - Technical Breakdown (-2 Position Sizing, No defined risk/target) SPY Coming down to LOD, wanted to see how it would act around here and didn’t just want to short without risk. Broke below, held for 1 min, then broke again - took it as it broke the 1min, with stop above the 277 level. Covered quick into drop as it seemed a little extended moving into the 200MA on the 5. No exact plan to exit here - probably should have taken all off into this support. Ende dup leaving on partial and waiting for a floating stop around MA. Improvement: Did not use risk hotkey, did not have an exit plan setup - this can not be happening. CCL (2) - Long - 1min and 5min - Climactic Reversal VVL got hit hard and was seemed to extended on the 5 and saw major volume coming into previous day close (exhaustion volume?), held the PDC and ended up getting a little late on the reversal with tight stop. Stop was tight which allowed me to get more shares, panicked on share size and covered into first spike to lighten up (no reason to cover). Covered again into 5MAs on the 5and 1 min. Final partial got greedy - wanted to sell into spike for 200MA on the 5min but didn’t end up doing it….covered into the close. Good: Noticing daily levels a lot more and the impact they have on intraday levels. Improvement: Got in a little late here. No exit strategy - panicked again and sold too soon - could of have a nice 3R winners, rather I ended up with small win because of premature exits. Trade Review Overall it was an ok day, realized I traded a lot - but felt a lot more of my style…out of trades quick if they don’t go my way, taking a little more trades than usual to get the feel of it. Maybe having a rule where I take 50% at 1.5, 50% at 2R or something…revisit my exit strategies for past week/2 weeks. What happens if I go 100% in and 100% out at 1R? 1.5R? 2R? What If I did 50% at 1R and 50 at 2R? Once again - when I think its time to stop. STOP AND TAKE A BREATHER - didn't follow my recent rule and got burnt on 2 plays back to back. RULE: - Mandatory 20-30 min break once I notice I am on tilt. (Upload prior trades to Tradervue, 10 minute meditation, water, come back and review the trades) Also - will be looking into Level 2. Chart pattenrs provide a good idea, but feel like im missing the large order flow and the big move alot of the times, or end up getting in way to late for a poor R/R. Will be diving in deep on books, onlien resources as well as my video recordings. Would love to hear other resources others have used and has helped them! Daily Report Card 1. Only Take trades using risk calculated hotkey = 9/10 2. Placing trades with defined risk, and profit targets (No adjusting) = 6/10 Edited April 12, 2020 by Valentin Share this post Link to post Share on other sites
Valentin 84 Posted April 14, 2020 Day 66 - April 13, 2020 42 Tickets 4 Symbols Max Loss + some Watchlist & Game Plan: CCL Long If CCL pushes up to PDC at 12.4 and buyer holds, look to get long above VWAP into 12.95. If It comes down and bounces off 11.1 look for a buyer to come in for a reversal It pushes through 12.95, and consolidated above that level look for a push into 13.7 Short If it moves up to 12.4 PDC look for a rejection, seller stepping in and Mov Avg to turn. If break down hard to 11.1 and holds below, look for a short off a consolidation If comes up to 12.95/13.75 look for a double top, confirmation and short the backside. DAL Long If DAL break through 25.6, consolidated above that level and buyers step up look for a long into 27 If break down to 23.3-23.6 look for a double bottom to confirm and then long If it comes down to PDC and holds, look for a VWAP play as it comes back to the upside Short If pops up to 25.6 and rejectis, looks for a double top risking off the highs If comes down to PDC and cant hold, look for VWAP play Trades CCL (1) - Short - Level 2 - Bids Dropping / Asks stacking Was watching Level 2, although I wanted to take CCL Long - the bids were just getting hammered at 11-11.10 all the way down, with huge asks piling up. Didn’t follow my plan, had the right idea for the long bounce off support. Got stuck watching Lvl 2 and I am still terrible at it….. DAL (1) - Long - 1min - Reversal (Double Bottom ish?) Not a big dan think I took this too early, shuold be waiting for the retest of 22 again. Ended up getting in as it heald on the 1 min, and looking to reverse back up. Taking partial off into previus level. The rest into VWAP +. CCL (2) - Long -VWAP Break and Go Broke through, came back down, broke again and then consolidated (not a great sign here?) Took partial off as I didn’t like the doji wicks to the downside.. Took partial off and then was going to leave a stop in - but accidently coverver the rest. Which ended up saving me a bit CCL (3) - Short - 1min - VWAP Bounce and Reject Was waiting for it to come back to VWAP and reject. Took it as soon as the 1 min rejection and came back - not a solid entry, had tight stop on break of that high. Took it again and got stopped out again. Mandatory break - 30 mins. CCL (4) - Short - 1 min Failed Pop - MA Cross about to happen as it looked like rejected Mas and broke below 50MA as resistance. And again same play….getting crushed with these super tight plays - need to provide some more room. I am am max loss after this just trying to chase the top….brutal - no reason to be going this strong as I am not even looking at level 2. Volume by price is showing point of control right at that level of 11.27 where I am shorting…. SPY is turning over, might see some follow through here. Took some off as volume on 11.27 was way too much. This level is strong Done for the morning after this. Don’t think I should be trading today/ tomorrow. Way to many rules broken, not seeing things clearly and just all over the place. Got way to attached on CCL, started off okay with a few minor losses. Then got obsessed with the Idea that CCL has to go lower and kep shorting pops and rejections off VWAP. WORX (1) - Long - 1min Technical Breakout Took it with stop just below previous consolidation - took partials pretty quick as its not in my game plan and this thing can move quick. DAL (2) - Long - 1min - VWAP Break and Go Took DAL on VWAP break on go, second time around. SPY pushing higher thinking we could see follow through on DAL as well. Option was DAL or SPY for the VWAP break…took DAL ended up being he wrong one. WORX (2) - Long - 1min - Technical Breakout Strong stock, thinking it could run - took is as it curled higher and broke MA's. Stop was too tight - play was right. DAL (3) - Short - 1 min - Failed Pop Watching DAL, rejected off 50MA and broke back down, took it as it broke through 9 and 20, decent entry - covered partial into previous level - planned. Added more size on next failed DOJI and rejection of 50MA and took full size off as it broke through. DAL (4) - Long - 1 min - VWAP Break and Go SPY pushing up thinking this will follow Final stop loss was poorly placed, right at previous high……could have gotten a nice bump back up. Clearly not paying attention much.. SPY - Short - 1min - Failed Pop Just over trading at this point. Took this on a failed pop rejection of VWAP and as it broke down. Liking the MA's as overhead resistance but forcing trades. DAL (5) - Short - 1min - Other Not even sure what I was going for here. Saw SPY drop hard and just blindly shorted this thinking we would reject. Hoping….stopped out, then re-shorted hoping again……. Trade Review Worst day of trading, jumping in and out aimlessly, obsessing over a trade and trying to forcing trades, breaking every rule possible, made up a game plan If/Than statements and not following it at all…… Feel like a broken record going over the same shit again and again, and just not being able to pull through. Also forgot to turn Max Loss back on (was testing stop hotkeys on day off) and ended up going over max loss. Max Loss Rule = Not trading tomorrow Really having trouble controlling myself and trading all day. Will be trying to figure out a way to figure this out. Making a trading checklist before every entry? Posting trading as I take them? Trading only first and last hour? Max trades per day? Stop over complicating. Keep it simple. Daily Report Card 1. Only Take trades using risk calculated hotkey = 12/12 2. Placing trades with defined risk, and profit targets (No adjusting) = 9/12 Share this post Link to post Share on other sites
Valentin 84 Posted April 16, 2020 Day 67 - April 15, 2020 14 Tickets 2 Symbols Loss CCL (1) - Long - VWAP Bounce and Reject (Lvl2 , bids holding 11.95) -1 Adjusting Stop Took CCL long as it bounced off VWAP and the 11.95 re-bid. Took partial into previous day level and adjusted partial (no reason to adjust). CCL (2) - Short - VWAP Break and Go (Lvl 2, bid dropping at 11.95) Failed to hold above VWAP, and took it as 11.95 dropped through VWAP - similar to my VWAP Break and Go - but didn’t wait for 2nd confirmation on drop. AAL (1) - Short - Technical Breakdown - (lvl 2, bid dropping at 11.8) Bid dropped and rebid, but tried to push 11.90 and couldn’t - added to position against 90. Improvement: Looking back at it, over extended on the 5, bouncing off previous day low, bid dropped and rebid - potential for long off that level. Was supposed to stop trading for day. Ended up trading and taking 2 more losses....listen to your gut. AAL (2) - Short - 1min - Failed Pop / Technical Breakdown Saw huge Bid at 11.6 getting taken out, and cross of 9 and 20MA's below the 50. Thinking we could see some nice continuation. Not liking SPY coming back up here and offers are getting lifted. Stopped out, and then tried again as we rejected 50MA thinking we could fall through and retest lows - stopped out again…. Improvement: Poor trading. The right trade would have been see what happens at 65 level - also coming into daily level support at 11.54 - why short into it? AAL (3) - Long - 1min and 5 min - Other Not planned, didn’t have an eye on it, looked at screens quickly and ended up taking a position on it as it is pulling back info VWAP, stop just below the 12.05 level (big bid) expecting to hold VWAP, 12 level, and previous resistance turning into support. Improvement: Idea was right, bounced off the previous resistance held as support. The big bid at 11.95 held - perfect entry on retest of 12.05 at 1:52, about 6c risk…5R if I was patience and waited for the sign… Trade Review Terrible night sleep, didn’t do market prep and wasn't going to trade. Came in to turn on platform to record lvl 2 to study for later. Didn’t end up walking away as planned. Thought I could read level 2 and ended up taking a couple of poor plays. At this point, I am truly falling into majority of traders (95%) as I am buying the top, and selling the bottom. No one said it would be easy. But getting knocked down more and more these days is tough.....battle through, live to fight another day. Hard work will pay off soon, it will. One thing I am excited about is started recording level 2, will be replaying this whole week and trading SIM in ToS to speed up learning curve! Daily Report Card 1. Only Take trades using risk calculated hotkey = 5/5 2. Placing trades with defined risk, and profit targets (No adjusting) = 4/5 Share this post Link to post Share on other sites
Valentin 84 Posted April 17, 2020 Day 68 - April 16, 2020 7 Tickets 1 Symbols Green Day Watchlist: Game plan: Didn't have much, didn't want to overcomplicate. Coming off a few bad days - just wanted to keep it simple. BBBY - Look for a Short squeeze, strong earnings Long Look for this to drop and then squeeze above VWAP, wait for buyers to step up VZ Long If drops to 56.4 wait for confirmation of holding, or buyer stepping up and go long off that level VZ - Long - 1min - Reversal Was watching VZ for a reversal, couldn’t get a clear entry in, finally saw it come back up to the point of control on VolumebyPrice and took it long expecting it to hold and push up to VWAP+. Stop wasn’t great here as no technical levels, but placed it below PoC and the wall of bids at at 57 and 56.95. Good: Patriating into levels - MA on the 5. Improvement: Need to be a much better placed Stop - could have gotten out on break of trend, or placed right below the PDC. Entry wasn’t great either, a little late at this point. The wait and get in on double bottom of PDC would be perfect, VZ - Long - Double Bottom VZ Continued to look strong but stuck in range. - missed the double bottom off previous day close so took it as it came back down into MA's and held, SPY also pushing higher. T1 was into VWAP and T2 to retest highs. Took partials on previous high, and another partial into VWAP. Adjusted my stop for breakeven - without an adjustment would have gotten close to target. Good: Liked the entry waiting on confirmation of 57 hold and using MA's. Improvement: Could have added on the hold of MA's, partial into pop, buy on the drops. Trade Review Happy with my day, although I was super selective, felt much more productive than getting in and out a bunch of times. Been watching a lot of different videos online, to see thought process of entries, and the different things people look for. Also starting to understand level 2 a tiny little bit more, and very excited to see the results once I slowly master reading the tape. In the meantime, back to studying. Daily Report Card 1. Only Take trades using risk calculated hotkey = 2/2 2. Placing trades with defined risk, and profit targets (No adjusting) = 2/2 1 Share this post Link to post Share on other sites
Valentin 84 Posted April 21, 2020 Day 71 - April 20, 2020 (Missed screenshots and executions of Apr 17, small green day) 16 Tickets 2 Symbols Green Day Watchlist: Trades: MGM - Short - 1 min - Double Top Short MGM as it looked to be a double top with quite a bit of overhead resistance - previous day close, pre market highs as well as point of control on VolumeByPrice. Watching SPY and it looked like it was turning over. Improvement: Need to wait for confirmation on this one, took in anticipation - didn’t show signs of double top as it was just consolidating. ROKU - Long - 1min - Ascending Triangle ROKU making higher lows coming into 134 level, and holding PoC on VolumebyPrice. Took it long as it consolidated at the top of Ascending tringle. Stop loss is loss of previous pivot low. SPY ripping up but ROKU is just setting up, could see a big move. Took 1/3 partials into spike ups and left final 1/3 at break of POC. Good: Taking partials quickly into the spike as this is a momentum play, waiting for this to tighten up MGM - Short - 1min - VWAP Break and Go (-1 adjusted stop, original was 14.05) 1st entry - MGM coming down into VWAP with heavy selling pressure. Waited for a bounce and break through of VWAP for confirmation, idea here was trading below considerable volume done above, longs were under water and would liquidate below VWAP. Emotional mistake Adjusted stop and got stopped out as I didn’t as I didn’t like the bid at 13.99 refreshing (original stop would have been good). 2nd entry - After adjusting realized the thesis is still in tact, 13.99 dropped after a big volume came in and failed to reclaim with strength - took it short with stop just above where I got stopped out. Took partials off too quick, but happy with letting it ride out for a final partial of up to 8.5R. Good: Had the right idea, and after making an emotional error I came back in after watching price action and getting confirmation of bidder at 13.99/14 dropping. Improvement: No need to be adjusting here…panicked too easily on this one. Trade Review Was a good day, starting to implement a checklist into my trading decision which has decreased the amount of trades I take. Looking forward to complete the checklist this week, and be ready to go for next. Looking at historic trades, and potential trades for stocks in play and looking at common theme of winners in order to duplicate. Also need to work on losers as well, that way Im not blind sided in hindsight 20/20. Have also started meditate again, and reading before the open (The Daily Trading Coach: 101 - Steenbarger) as I have been having discipline problems and overall decision making was blurred by biases and emotions. Meditation has worked wonders in the past, not sure why I stopped - but excited to be getting back into it. Will be adding lots of stuff to my journal in near future through reading this book. Goal is 1 chapter a day before the open, and work on the one goal/exercise he assigns. Daily Coach 101: Process of sustaining change. Need to have an emotional connection with your daily goal. Visualize your trading before every morning, and you doing everything well, implementing the new change - TRADING CHECKLIST Now visualize the same scenario with an "or else" scenario. What happens when you don’t do this - MAJOR OVER TRADING, SUBPAR SETUPS,CHASING Daily Report Card 1. Only Take trades using risk calculated hotkey = 4/4 2. Placing trades with defined risk, and profit targets (No adjusting) = 3/4 1 Share this post Link to post Share on other sites
Valentin 84 Posted April 22, 2020 Day 72 - April 21, 2020 4 Tickets 1 Symbol Green Day Watchlist: Trades: BYND - Long - 1min - ABCD BYND gapping up on strong catalyst, sold off held premarket level and pushed higher. Took it on the pullback into VWAP as it held pushed back above VWAP. Puked a 1/3 partial and sold before my stop loss as I didn’t want to take a full size loss….emotional fear showing no confidence in my thesis…play ended up working and I partialed into previous pop. And more into HOD as it seemed indecisive. Good: Happy with entry, waited for the pullback and confirmation hold of VWAP. Like my 2nd and 3rd partials into levels. Improvement: Still battling my psychological side….cutting my trades early for no reason, idea was still in tact. No reason to lighten up and sell partial into a loss. Trade Review Super selective on my trades once again. Finding it very difficult, as I am usually a "go, go, go" type of person (ADD?) and like the action. However, with my new weekly challenge of taking A+ setups I have been working on being very strict and only taking A+ setups. Another thing I notice is I am taking down trades I would have made, and they seem like they are becoming better and better. Daily Coach 101: Positive Self Coaching "Heres what I am good at, here's what I did best yesterday, and here's how im going to make use of this strength today" Starting to see the market better with better thesis for each play. Planning the trade and being patient and letting the market come to me. I am going to use my trading plan, and trading checklist to confirm entries before getting in. From there I will let the winners ride once they go my way. Daily Report Card 1. Only Take trades using risk calculated hotkey = 1/1 2. Placing trades with defined risk, and profit targets (No adjusting) = 0/1 1 Share this post Link to post Share on other sites
Valentin 84 Posted April 23, 2020 Day 73 - April 22, 2020 11 Tickets 3 Symbol Red Day Watchlist: Trades SNAP - Long- 1min - Technical Breakout Poor judgement here - missed the ABCD right off VWAP would be been decent winner. Came up to HOD and consolidated - I had the idea for long off pullback into consolidation could have had a 5c risk as 15.44 held risking 15.4 didn’t get in (2 missed plays now). Saw the big offer lift at 15.6 and got too excited when it was called out in chatroom and got it - MAJOR FOMO. Improvement: Wanted to get in twice but missed plays (ABCD, Breakout Pullback) upset at myself for not pulling trigger on winners…then FOMO'd hard and chased a callout - Didn’t follow my rules, fully deserved loss. T - Long - 1 min and 5 min - Double Bottom (Not on Watchlist, Did not follow gameplan) Called out in chat, turned to chart and saw it hitting a double bottom and lots of support at that 29.7 Level. Didn’t like it as volume was selling off and SPY didn’t look great. Came back down to that level and held. Ended up going long on the break of 29.8 level risking just under 29.7 support. Improvement: Need to be watching my own plays - didn’t like selling pressure, SPY wasn’t pushing my way yet I still took it….once again not following my rules, another deserved loss. DAL - Reversal - 1min - Long DAL was weak all day (first sign why I shouldn't have gone long) and was coming down to major dail support level at 22.66. Held almost to the penny and did a nice double bottom bounce for a scalp on the 1 min, missed the entry. Watched it come down to 22.55 held the Bid and more support at 22.5 took it long with stop on the loss of the big bid at 22.5 as SPY was coming up testing HOD. Came down to 22.5 and bid held, but didn’t like the doji reversal so took off partial. Let the rest ride, with no specific plan for exit. Good: Minimized losses by taking partials before it got too ugly. Improvement: No confirmation. Not a great setup. DAL - Long - 1min - Technical breakout? Not even sure what this is. 5c range bound for the last 20 min (algo?) and did absolutely nothing….was watching the ticks thinking we could break as there were large Bids at .50, large asks at .55. Didn’t know which side I wanted but thought we could see a move…went long as the offer lifted…didn’t work out. Covered partials for slight loss. Improvement: Shouldn’t be going anywhere near this. Hasn’t done anything for last 20 minutes, in last 5 min of trading, and not in my setups…don’t even know which setup this is categorized under. Today's Review Very poor. Although loss was small, trading was terrible. Not sticking to my setups, taking call out plays even though I don’t like the setups, taking plays not in my setups, and finished off with a play in last 5 minutes which was doing absolutely nothing.. Coming off of a disciplined last couple of trading days - this really did not feel right. Happy I am able to realize this, but not happy with the stupid mistakes. Daily Coach 101: Ch. 3 - Positive Self Coaching Make friends with your weakness - take the losing opportunities and learn from them, do not deny them. To do: at the close of today’s trading, create a chart with three columns. 1. The first column is a description of the losing trade you made 2. the second column will be what you can learn from the losing trade 3. the third column will be how you will improve your trading next day based on what you learned. What you learn from the trade could be an insight to the market. Perhaps it was range bound when you assumed it was trending SNAP Trade #1 - Chasing a breakout Trades Daily Report Card 1. Only Take trades using risk calculated hotkey = 4/4 2. Placing trades with defined risk, and profit targets (No adjusting) = 2/4 Share this post Link to post Share on other sites
Valentin 84 Posted April 24, 2020 Day 73 - April 22, 2020 19 Tickets 2 Symbol Green Day Watchlist: Trades TGT (1) - Long - 1min - Technical Breakout ( ABCDish ) (-2 Adjusted Stops) Big picture had a long thesis as reports seem decent, over sold? Missed the ORB so took it long risking VWAP as it seemed to be making an ABCD and looking to breakout, and SPY ticked up. Partialed into spike, then adjusted as I didn’t like lower lows and highs. Ended up consolidated off POC and spiking so I took it again, same thing partialed into spike and then adjusted and got stopped out. Improvement: STOP TRADING THE PNL AND ADJUSTING STOPS, Adjusted my stop loss after first partial to get out at breakeven in order to avoid a loss….my stop would have held in both instances and made a nice morning run up. Had the idea at the wedge before the break, R/R would have been much better here. (both times) GPS (1) - Long - 1min - Ascending triangle GPS strong on the morning, came back and held MA's and hugged the VWAP. Kept pushing up against the 7.1 level but offer wouldn’t lift. Took it as 7.10 lifted with Lots of support on the downside (PDC, VWAP and MA's once we spiked). Took partials too soon, into previous level. Good: Like the entry, was watching 7.10 offer to lift, after fake breakdown and hold of VWAP, MA's converging - took it into the break as we had volume hitting the offer. Improvement: Need to work on my exits - way too early to take partials(1 and 2nd partials should have been delated into high of days TGT (2) - Long - 1min - Other (Panic buy on over sold market) (-1 Adjusted Stops) Market tanked, was distracted on the phone with a client and looked over saw the major drop (GILD)….didn't even look into it much but thought it was too big of a drop and ended up chasing TGT…didn’t really even do my research - just jumped in as it held higher highs looking for a break up to HOD. Improvement: Wasn’t paying attention, just jumped in thinking it was "oversold". No setup here. Deserved loss GPS (2) - Short - 1min - VWAP Bounce n Reject GPS made high in AM and slowly selling off all day. Has touched VWAP couple times and rejected, thinking we would do the same and form a quadruple top. Ended up waiting for the first red candle and wanting a break of that candle but came down quick and missed the entry (had 2c risk initially). Didn’t like the DOJI hammer on the 5 min, but SPY turning down so gave me confirmation. Good: Like the setup- VWAP rejection coming into an area of resistance. Improvement: Terrible partialing, got out way too early once again. Left a final little bit on but didn’t want to cover until we saw a major drop. Should be taking 25% at PDC, 50% into that previous low at 7.07 and letting rest to ride for a stop out. Today's Review Pulled out a green day, but unhappy with my entries on TGT - all 3 were terrible. Luckily had decent runner to make up for it. Working on trying to buy the tight consolidation before the big breakout, but ended up buying the breakout. Exiting strategy is also terrible, taking profits way to quickly which is hurting my PnL, and NO MORE ADJUSTING STOPS. This is in my daily report card, yet I still battle it every day…turning out to be much harder than I expected - why? Think its mainly due to trading PnL. I see it move in my direction, take partial…then it comes back and id rather cut it for small win/Breakeven than let it play out. (2/3) that I adjusted on TGT, would have held the level that I first expected and made a nice runner. The other one I would have gotten topped out almost bottom tick. What I am really happy with: Starting to get a better idea and read on Level 2 and T&S, continuous review is starting to pay off. Continuing to hit this hard - excited for that it will bring. Have a question for any of the readers - How are the charts - are they visible at all? When I save them, they are quite large but when I post on here they seem tiny. Would love updates on how to get better pics for viewing....Thanks! Daily Report Card 1. Only Take trades using risk calculated hotkey = 5/5 2. Placing trades with defined risk, and profit targets (No adjusting) = 2/5 Share this post Link to post Share on other sites
Valentin 84 Posted April 26, 2020 (edited) Day 74 - April 24, 2020 24 Tickets 4 Symbol Red Day Watchlist: Trades BA (1) - Short - 1min and 5 min - Technical Breakout (-1 Adjusted Stop) Had a major level on BA at 133, as consolidating just under there under PoC, so ended up taking the drop (had the idea before drop but no confidence) Ended up being right in short term, if I had entry at 133 then idea panned out perfectly… 50c risk, 133.50 stop, would've had 3R into 131.5. Due to poor entry I adjusted stop and ended up getting stopped out. Continue down to 128 for potential +4R winner…. Improvement: Playing my PnL didn’t want to lose on a trade that put me in green right away. Adjusted stop and absolutely puked it….poor trade management. BYND (1) - Long - Technical Breakout (Asymmetric triangle) SPY was moving higher and stocks in play on my watchlist broke through their asymmetrical triangle, was looking for BYND to follow as it was holding above PoC and definitely has took to run to the upside. Took it long and quick partials. Left partial and and stopped out on break of POC / Descending triangle. Improvement: Potential to flip position on the trend line break, with selling pressure coming in. Also formed a minor descending triangle off the double top. BYND (2) - Long - 1min and 5 min VWAP Break and Go BYND coming back up through VWAPP, was waiting for the 2nd break of VWAP at 108.75, missed it for my planned entry. Ended up chasing as I didn’t want to miss out on a run up. Poor entry, as stop was to far away = smaller size. Proper entry would allow to partial into first pop, and stop out at B/E on cros back through VWAP. Improvement: Follow game plan on entry - 2nd cross through VWAP. INTC (1) - Long - Technical Breakout (Downward Channel) INTC has been strong all day coming up into PDC. Came back down of HOD and consolidating at MA's and volume starting to come in again. Took it as it broke down trend channel Thinking could be a runner if breaks through HOD. Took partial into the previous level and then stopped out. SPY (1) - Short - 1min - Double Top (Breakdown Anticipation) (-1 Adjusted Stop) Was on the phone, saw SPY make a new high and reject quick..took it as a breakdown after a potential double top, adjusted stop as I didn’t have a good entry. Over trading at this point, trying to force something… Improvement: No reason to be shorting into increasing buying strength, buying volume, higher highs….FOMO while I was distracted. Deserved loss. Noticed getting very impatient, trying to force plays. Did not step away as set out in my rule book. Next 30 mins (last 30mins of trading day) got really ugly. INTC (2) - Short - 1 and 5 min - Double Top INTC strong all day, but has rejected the PDC a couple of times. Was on edge at this point trying to force plays. Ended up going short into wall of offers, thinking we could reject and come back down. Entry allowed for tight stop, but quite a bit of slippage as buying power was just way to strong. Improvement: No need to be forcing shorts. Hindsight, stock has been making higher highs and lows all day. Clear uptrend, and has been picking apart at the offer multiple times at this level. After forced play on INTC widened my loss on the day and logic and composure went straight out the window, all emotional from here. BYND (3) - Short - 1min - Other Waiting for potential top, shorted thinking well drop into close. Took partials off, left half on and ended up breaking even on the trade due to the final stop. SPY (2) - Long - 1min - Other SPY dumped after a strong push during final hour. No setup, just bought hoping we would retest highs. BA (2) - Long - 1min - Other Continuing to overtrade on emotion, BA was holding that 129 level, was thinking to scalp quick right before close….market closed and I ended up buying as it spiked in afterhours. No setup once again. Look at the last 30 minutes of the day…clean uptrend. Shorting INTC into the level it rejected but HAD STRENGH ALL DAY, preparing for this move…BYND, SPY and BA all emotional plays Trade Review I noticed myself forcing the trades today - thought process was "get a super tight stop, that way IF it goes my way I will make it all back". Wasn’t even looking for a setup..was looking for something with super tight risk in order to get lucky. Incredible how ALL WEEK you go mentally strong, and last 30 minutes of the week you let all the rules go out the window. So much progress, grinding it out day in and day out and then mental breakdown. The worst part is I knew I was doing it, and still did it. Lots to learn from, overall I am happy with the week, as I did a lot of great things and forming habits. Mentally, I really need to work on walking away in order to remove this 30min period which ruined the whole week. In sports you always have to be on your game, relax for one minute and the whole game can turn around. This is exactly what happened here. Took 30mins off mentally and results were obvious. Trades Daily Report Card 1. Only Take trades using risk calculated hotkey = 9/9 2. Placing trades with defined risk, and profit targets (No adjusting) = 7/9 Edited April 26, 2020 by Valentin 1 Share this post Link to post Share on other sites
