Valentin 84 Posted April 28, 2020 Day 75 - April 27, 2020 26 Tickets 7 Symbol Red Day Watchlist: Goals for the day: - A+ Setups ONLY. Trades NAT - Long - ABCD (-1 Adjusted Stop) Took NAT long as it came down to VWAP and held on 2 hammers, took the long as it broke the 1 min. First partial was a little early. Stop below candle wicks. Major support at 6.5 could place beelow there. SPY - Long - Channel Trend Line Hold off VWAP (Not in gameplan, -1 Adjusted Stop) Took it as a scalp thinking we would hold. R/R wasn’t great here as I wanted an entry at 77 and then panicked out. UBER - Short - 1min - VWAP Break and Go UBER making lower highs lower lows. Has wicked down and back up couple of times, but didn’t get bought right back up on the 1 min as it did before. Idea was short the VWAP break n go, below PoC on VolumebyPrice (30). Stopped out, then started to move my way and SPY started to turn down, short as we broke down through the VWAP again. Took partial as it made an ascending triangle, and the rest at stop. Improvement: Noticed using the Market +5c on the hotkey isn't working out great for me especially on these cheaper stocks. By looking at chart seemed like they were taking out stops - thought this time was different, just got chopped up. BYND (1) - Long - Double Bottom. -1 Adjusted Stop Was watching BYND for potential reversal, 5min hammer with volume was first signal. Waited for a pullback, another hammer on 5min making a higher low and went long as we looked like breaking out. Took it as it made a higher low. Adjusted stop. Original stop was 100.93……. INTC - Long - VWAP Break and go INTC sold off in morning, but came back testes VWAP , was looking for a VWAP break and go on the 2nd break as it looked like buyers stepping in above 50 and 200MA, also above PoC at 59.9. Took it long as we broke out of VWAP stop below previous low and PoC. Improvement: Need to be much better with my entry. Previous VWAP rejection was off a bearish doji -exact same thing happened. Would like to see a little more consolidation between drop through and retest of VWAP - was only one 5min candle (also a bearish engulfing) CGC - Short - VWAP Break and Go MJ stocks were up in AM but look to have lost strength and came back down to VWAP (TLRY lost VWAP and sold through hard) thinking CGC would so the same. Shorted the 2nd breakthrough of VWAP. Reversed and came back through VWAP. Wanted to see more confirmation before adding, but didn’t like the hammer on the higher low and took half off. Adjusted the other half. TWTR - Long - 1min - Technical Breakout (Ascending Triangle-ish) Was thinking to take TWTR on ascending triangle off the 200MA, didn’t end up taking if. Kept watching and got fomo as it would have worked out. Chased the entry, took partial as I didn’t like the top wicks and then got stopped out. Improvement: Trying to add wedge/ascending triangle into my setups as they seem to offer great R/R, but don’t have a specific plan so end up chasing them almost every time. Need to get this into my gamelan with specific criteria. BYND - Short - 1min - Failed Pop Not a great setup, but was thinking we are ending the day looking very bad with major engulfing, thinking longs might be selling out before the close in order to reduce risk overnight gap down. The breakdown (too late) thinking we will follow as SPY was selling off hard. Realized I shouldn’t be in the trade, adjusted stop and got stopped out… Improvement: Should not be trading the last 10 minutes. Always too emotional and forcing plays. Trade Review Goal for the day was A+ Setups only, did not follow through with the goal. Need to simplify things - focus on ONE GOOD TRADE, and then ONE GOOD TRADE. Today seemed very scattered, kept jumping around from stock to stock - 7 symbols??? wtf? Need to get back to doing what was working before, composed and waiting for the setup to come to me. Enter as it pulls back into my price range in order to have a calculated and defined risk, and leave it alone. Feel like Im thinking to much of dynamic stop losses/partials. Just keep it simple. Tomorrow will be a better day. Trades Daily Report Card 1. My Playbook Setups Only (So far ABCD, VWAP Break N Go, looking to add another 2-3) = 4/9 2. Placing trades with defined risk, and profit targets (No adjusting) = 3/9 Share this post Link to post Share on other sites
Mark D. 435 Posted April 28, 2020 You charts are readable, I can click on them and they get bigger 1 Share this post Link to post Share on other sites
Valentin 84 Posted April 29, 2020 Day 76 - April 28, 2020 26 Tickets 7 Symbol Red Day Watchlist: Trades SDC (1) - Long 1min - Asymmetrical Triangle (Hindsight Bear Pennant - 1 Not a Playbook Setup) SDC broke down at open and consolidated into an asymmetrical triangle, looking like a big move coming out of here - 5min look like its getting bought up on the hammer, and holding around premarket support level. Got in as it looked like it broke through uptrend line. In hindsight this is a clear bear pennant getting rejected by 9MA Improvement: Was rejecting 9MA on the 1 min, and didn’t hit a new high - shouldn’t be taking this. SDC (2) - Long - VWAP Break and Go SDC pushed down but got bought right back up, was thinking we could see a huge squeeze above VWAP and push to HOD. Was watching for a VWAP break N Go but Wasn’t patient enough…as soon as I got in I realized I shouldn't have got in and lightened position. Stopped out on the rest. Improvement: Need to be more patient with this, VWAP Break n Go has to break through, hold above, then break below and consolidate for a few bars before re entering on the spike up. Also going long right into 50 and 200MA… NAT - Short - VWAP Break and Go NAT had a huge sell off then broke through VWAP. Missed the first VWAP Break n Go so took the next failed pop rejection off VWAP. SPY dumping as well thinking NAT can follow. Patriatialed quickly - 8 was premarket level, MA's on 1 and 5min and round number. Good: Right idea on the sell off Improvement: Need to be careful shorting into the MA's. Also missed a few great doji reversals off VWAP right before this one and right after. MGM - Short - Failed pop (-1 Not a Playbook setup, -1 Adjusted Stop) Took MGM as it was Rejecting off the 9MA on the 5min, 2 shooting stars and SPY turning over again heading to LOD. Liked the way this setup looks, increasing selling and decreasing buying volume and SPY also weak. Ended up working in my favor, but coming to the apex of the triangle and faked me out to the upside as it lifted the 15.96 which held for close to 10 bars. Took half off, then it rejected off the 50MA on one minute and dropped instantly. Partials into Previous level and into previous HOD. Good: Nice job noticing the pattern setup with validation from volume. Should be adding to short position into the break of the bear pennant. Improvement: Trade management killed me here, took partials off as I got scared and squeezed myself for profits. Would have turned out to be a nice winner. MRNA - Short - Failed Pop (-1 Not a Playbook Setup) MRNA sold off hard, came down to PDC and bounced off. Rejected by the MA;s on the 1 and dropped through. Hit a new daily low (also right round PDL - but I didn’t realize this) and bounced. Was waiting to see how it would act around PDC, rejected off and couldn’t break through shorted as it tried to break again but rejected with lower high - stopped out right above PDC. Good: Tight risk off a defined level. Improvement: Need to do more research / be more attentive. Was on secondary but didn’t do levels for it. MRNA Bounced right off the PDL and had a decent rally from there…I shorted right into that. BYND - Long - Ascending Triangle (-1 Not a Playbook Setup yet) BYND hitting 100.50 and VWAP over and over all day creating a large ascending triangle. Took ait as we got tight to the tip and MA's were all pushing up into the APEX. SPY was strong as well and was pushing to HOD's SPY also pushed up. Partials way to soon - 1st partial was a scared partial. @nd was at previous pop and just took them into pop all the day out. Final was an adjusted stop which got hunted. Good: Good patience waiting for this to play out and come to you vs chasing. Manual trade entry - Limit order with stop placed vs Hot Key - provided for a better fill. Improvement: Potentially to wide of a stop - was allowing some room in case a fake break to collect stops and rally. Trade Review Was an okay day, had a few great ideas and noticing they are coming from Triangle Ascending and Descending. From some of the winners, and even a few losers they were the opposite play. Adding these to the playbook. Other than that I really need to work on my trade management. Have some plays which could have been much better than they were PnL wise all that I handled the situation wrong while I was in the trade. What I did well at: Validating price action with volume. Getting into a couple of moves on the pullback vs always buying into the resistance. Trades Daily Report Card 1. My Playbook Setups Only (So far ABCD, VWAP Break N Go, looking to add another 2-3) = 3/6 2. Placing trades with defined risk, and profit targets (No adjusting) = 4/6 1 Share this post Link to post Share on other sites
Valentin 84 Posted April 30, 2020 Day 77 - April 29, 2020 12 Tickets 2 Symbols Green Day Watchlist: Trades MRNA - Short - ORB Have noticed that MRNA has a tendency to runs in the direction of its first breakout. Took it short on the break of PML and the break of the 46 bid which held initially. Took partial before the big bid at 45 and then stopped out above VWAP. Good: Noticing levels on the charts and LVL 2 to partial off of. Improvement: Could have been much quicker on the entry. Not great at this setup, so will keep practicing. Maybe add it to the playbook after I lock in 3-4 good setups. APRN - Long - ABCD off the VWAP (Squeeze) Gapping down -24% and thinking we could see profit taking from heavy shorts piled in (44%). Continued to drop off the open then found a bottom and did a nice hammer reversal. Took it as it pulled back into VWAP for the ABCD. Was thinking we could see it rip back up to HOD. Took partials too soon, and then had a hotkey error 2x instant cover for breakeven leaving my original position on. Good: Right idea, and good patience here letting it setup. A+ Setup Improvement: Taking partials too soon, Should be partialing off the first major pop, into B and then finally into D. Todays Review Decent day today, although I only took 2 trades I noticed a few great setups which in hindsight were A+ Setups. Missed A+ Setups BYND 10:15 Ascending Triangle BYND 13:30 Descending Triangle MRNA 15:20 Ascending Triangle Starting to see these triangles a lot more often, with solid moves. All 3 of these were hovering right around the VWAP and offered tight and defined risk. Will be looking at review to see Level 2 and how it acted moving into these spikes in order to get more confidence. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Ascending/Descending looking to add 1-2 more) = 1/2 2. Placing trades with defined risk, and profit targets (No adjusting) = 2/2 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN 1 Share this post Link to post Share on other sites
Valentin 84 Posted May 1, 2020 Day 78 - April 30, 2020 21 Tickets 3 Symbol Green Day Personal: Went to bed a little earlier, was nice Goals for the day: - A+ Setups ONLY. Watchlist Trades RVOL at open - TWTR 920%, OSTK 560% BYND 100% OSTK (1) - Short - ABCD Reverse (sub: VWAP Bounce n Reject) -1 Adjusted Stop Gapping up 20% and looked like it hit a top was doing to roll over. Dropped at the open and bounced ro retest VWAP, took it as a short on the ABCD as it rejected, with high of candle as stop. Thought it would work right away but it consolidated so I took of partial (no reason - scared) ended up going my way so I covered into previous bounce and 50MA and then again on next drop. Came back up and rejected 9MA with decreasing volume, so resorted on new 1min low off the doji. Covered quick and left the rest to Previous day high. Good: I like the add on this one, stock was weak and losing power, got in as soon as it showed weakness for another quick scalp. Improvement: No reason to be taking half off on the first partial - idea still in tact, below VWAP and 20MA and 9MA acting as resistance. Need to stop doing this - hurting my PnL OSTK - Long - Ascending triangle (hindsight - Bear Wedge) Noticed 13.15 forming a ceiling with higher lows, SPY also pushing higher breaking HOD. 15min chart looking good as well with the double hammer. Could see this run. Placed a limited order rather than buying the top with marker order. Ended up getting a better fill, but didn’t go in my favor quickly dumped. Took partial off as its starting to feel more like a Bear pennant. (in this case I think it is acceptable to take partial if not the whole position off, as I realized under 50MA!!! Why do no I see this before? Couple times latley I get in right into 50MA for a rejection) Good: Realizing it was a Bear wedge as it was rejecting of 50MA and taking half off. Improvement: Could flip or add on the short side after got taken out - entry signals were there. Need to be more observant of the 50MA - this is a clear bear wedge. TWTR - Short - Descending Triangle TWTR heavy and tried to make a push through VWAP. After rejecting it had a nice steady drop forming a descending triangle and formed a super tight range on low volume prior to the break, got in with tight stop. Quick cover and then just consolidated which I didn’t like so I covered more (no reason, still under 9 and 20). Need to give this one more time and just let it be. 2nd partial was not necessary at all. 3rd im on with as covering into previous level which seems to be holding…but overall should be holding the final partial Good: Really like the entry here, break of tight consolidation into the APEX, below all MA's on a continuation of selling. Improvement: Once again covering too much, 2nd partial should have held until the drop on volume around 11:30 (ended up being a minor low). AAL - Asymmetrical Triangle Has been forming this triangle all day, looking at other airlines (DAL and UAL are both moving) they are all moving up. Thinking we could see a nice pop, with SPY looking to break out through VWAP and making a nice push as well. Took it as it was consolidating but curling up above VWAP. Good entry, and setup but very poor trade management. First partial was under 1R, 2nd im happy with and then 3rd was Poor adjustment on the drop back down….should have done it right below the VWAP, 12 level as well as the MA's and partialed on next spike up. Good: Had the right idea for a quick scalp Improvement Absolutely terrible trade management here. Should be taking 50% off at 2R, and then leaving 50 for rebound off MA's into previous level. Decent trade turned into a bad one due to management. Todays Review Really happy with my entries today, had the right ideas and setups. Was seeing the market quite clearly today and pulled trigger on my ideas. Still a little gun shy - missed a couple of beautiful trades at the open. Twitter hold of 28.6 would've made the day, but that’s hindsight. One thing I really need to work on is partialing. Now that I am starting to winners more often, really motiving how weak my exit strategy really is. Will be making a rule on this over the weekend, in order to have a concrete plan rather than just panicking when taking profits Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, looking to add 2-3 more) = 4/4 2. Placing trades with defined risk, and profit targets (No adjusting) = 2/4 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN 1 Share this post Link to post Share on other sites
Valentin 84 Posted May 3, 2020 (edited) Day 79 - May 1, 2020 32 Tickets 5 Symbol Green Day Watchlist: RVOL at open (DAS) MRNA 182% MGM 108% UBER 56% Trades UBER - Long - Minor Ascending Triangle (-1 Adjusted Stop) SPY was looking decent coming up into the highs, and UBER hitting against the .36/.37 level once it breaks out it could pop to HOD. Stop on the break of triangle + wiggle room (manual stop, broke down with not many orders filled down there and right back up so I didn’t exit). Market started to look weak and didn’t like the shooting star DOJI so covered half. The rest on breakdown of MA's. BA (1) - Short - Descending Triangle (-1 Adjusted Stop) BA coming down making lower highs into a descending triangle and SPY was breaking LOD. Made the mistake and bought it with market order which shot me down and filled near bottom….. Need to be placing Limit order here to get better pricing. Poor trade, 137.6 has held in premarket as well as couple bars ago - Improvement: Not on my main watchlist, and clear that didn’t do research as im shorting into a support level and held bid... BYND (1) - Short - Anticipation of Descending triangle / VWAP Break and Go Took half size in anticipation this would drop though VWAP as it was forming Descending triangle, with the idea to add into the VWAP break n go. Saw 5min shooting stars and entered. Top tick on the cover, but stayed with it and ended up getting on a failed pop after it broke through VWAP for a nice flush. First partial way to early, but got scared of 200MA. Partailed all the way to PML. Good: Finally starting to let some winners ride, had the right idea and got validation from volume. Market was also heading down for extra confidence. Improvement: Really need to work on my partialing. No reason to be taking that first partial as a scalp. SPY - Short - Channel resistance (Not in my playbook) (-1 Adjusted Stop) SPY Rejected HOT a couple of times and was making a higher low, shorted after it looked over extended on the 1 min, didn’t act as I thought so I took it off B/E. Then it broke consolidation and I reshorted thinking we would see test of lower channel line. Moved up against me and stopped me out. At this point was trying to force my idea on the market "it has to reject and drop this time" Minor drop and I took some off as I wasn’t thinking clearly, then top ticked my stop loss and THEN it dropped to LOD plus some. Improvement: Was so busy forcing my idea on the market, I missed the whole move. BYND (2) - Long - Reversal Shorted BYND all the way down to PML where it stopped and consolidated. Waited to see what it was going to do, looked like it was strong with the hammers on the 5 min, and increasing buying pressure coming in. Took it long as it cracked a high after the hammer on volume, got rejected quick off the 20MA. Improvements: Don’t have a set strategy for reversals, and not that comfortable with them yet….seems like going long into resistance isn't a great idea though BYND (3) - Descending Triangle Took half position on a limit order as we approached the APEX - wasn’t confident in full size as we were approaching LOD and haven't had great luck shorting into LOD. SPY coming down to retest LOD, idea was to add to position it broke and BYND dumped. Took partial unplanned, and then let the rest ride to knock me out. Good: This setup offers a nice entry for risk, and seem to break once the level is clearly defined as was in this case. Improvement: Need to work on my partialing. This would have came down and hit my partial if I didn’t adjust. Confidence to low to hold and let it work in my favor? TWTR - Long - Ascending Triangle (-1 Adjusted Stop) SPY breaking out, and TWTR was strong heading into the close. Made a minor ascending triangle with higher highs all the way from LOD. Ended up breaking through that 28 level but didn’t have much strength. Was considering bringing first partial down but refrained in order to let it play out. Came down so I took partial off as I didn’t like the rejection off 28.10 (PDL), leaving the rest on thinking we would bounce. Improvement: Need to do more research on spikes into the end of day, this might have been better off as a quick scalp on breakout. BA(2)) - Descending Triangle BA tested this area multiple times in the afternoon, took it as it approached the APEX and broke down. Thinking we could see a more extended move but hat 133 held tight so i covered aroudn that level into the close. Today's Review Not very happy with my overall trading today. Had a beautiful short on BYND but didn’t matter because I was sloppy with a few others that over powered the winner. Couple things I need to focus on are sticking to position sizing, all of a sudden added this new thing where I'm entering half size and looking to add - haven't really don’t that before, and its not in my game plan…but tried it a few times today out of nowhere. This caused me to take inconsistent sizing, 2 actually could have ended up being decent winners. Plan for the weekend: Focus on the playbook -Entry: Trading Checklist (Strategy Specific as well as general) -Exit: Exit criteria, Strategy specific partials, all or non plays Todays Review Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles (Ascending, Descending), looking to add 1-2 more) = 6/8 2. Placing trades with defined risk, and profit targets (No adjusting) = 4/7 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Edited May 3, 2020 by Valentin Share this post Link to post Share on other sites
Valentin 84 Posted May 5, 2020 Day 80- May 4 , 2020 35 Tickets 4 Symbol Red Day Watchlist: Trades: LUV (1) - Short - ABCD LUV sold off at the open, truied to push back through VWAP and rejected, took it short after rejection and SPY was tanking, stop above previous high, Partials into the big bid at 26.5. Improvement: Need to catch ABCD earlier rather than waiting for it to come down. Also need to have ABCD consolidate multiple bars on weak volume. This it not an A+ Setup. LUV (2) - Long - Asymmetrical Triangle LUV broke HOD and then came back to VWAP (ABCD potential), touched VWAP and pushed back up consolidating near the highs. Saw a triangle forming and took it in anticipation of pushing to new HOD +. Covered partial into first pop, and then stopped out below 20MA. Improvement: Need to be more selective, 5min was looking toppy. UBER (1) - Ascending triangle UBER coming into ascending triangle into the APEX, and was looking strong relative to market as it held up while SPY was selling. SPY looks like it might have found some support and trying to bounce which would help UBER break through. 1/3 at 1R as it’s a major level, then will space them out from there. Improvement: No need to be adjusting and taking 2 partials to stop out, 1st partials planned is good. From there cut the loss vs splitting into 2. LUV (3)- Short - Asymmetrical Triangle Short LUV in the range, keeps rejecting of 27.11 (12c risk) AAL and DAL and airlines were all weak.- didn’t follow game plan, should have taken half off at 2R - 26.73 instead of taking profit early. This caused me hold off and wait for a bigger move, then reversed and got stopped me out. Improvement: Need to follow exit strategy, 2R is first one unless there is a major level. UBER (2) - Long - Ascending triangle UBER broke out from the wedge, and above VWAP - not liking the MA's above as resistance on the 5min, and took it a little late so took partial size, will add one next pullback . SPY looking to break so could be a nice move toward highs (this was WAY TO SMALL of a position. Everything is perfect and you go in 1/3rd)..came back down to test VWAP and the breakout zone - didn’t add because SPY was dropping.. poor trade management. Added as SPY is moving up, and looks like it held VWAP looking to bounce. Improvement: Need to follow my own plan - adding on enxt pullback, it did just tha, could have added with stop just below. Instead chased the add way to late after it chopped up UBER (3) - Short - Descending triangle Saw 27 bid getting hit with acceleration. Thinking we could break if SPY rejects. LYFT also getting hit hard, which could add to pressure to UBER breaking through that 27 level. Took it short with stop above 20MA on the 1min. Bid Held and uber squeezed stopped me out. Instead of getting back in on the rejection, I waited too long and shorted right back at that 27 level. This time it worked, but due to my wide stop (scared after first stop out) I didn’t partial and got stopped out again. Improvement: Overall, I like the setup as it has touched couple of times and is looking to break again - but entries were poor. Need to be getting a better fill with better risk management. LUV (4)- Short - Channel Resistance (Not in in playbook) Approaching same region it rejected to previously, short in anticipation we would break through VWAP and test the lower range of the channel. This would be a move to move trade, quick scalp. Improvement: As this is a quick play - I need to short this right at the first rejection (5c risk, with 3R if it retest bottom) SPY - Long - Breakout Pullback (Not in playbook) SPY breaking out to HOD, took it long (1/4 size) as it broke through and retested the HOD and even 282, Wanted to hold on as strength was there, but ended up taking position off into PDC. Retested and held PDC on lower volume - validation, so I took it long again (1/2size) and sold into pops. Good: Very clean entry here, pullback into major levels of HOD and PDC. Defined risk, partials into levels, validation from volume. Improvement: MANUAL SHARE SIZING - going back to my previous monthly goal, risk adjusted sizing…did not do this on this, instead of taking full size positions I took 1/4 and 1/2 size. What SHOULD have been a nice winner, ended up being mediocre. TSN - Long - Asymmetrical Triangle-ish TSN strong all afternoon, big pop through VWAP and retest, but holding the upward trend. Took it as it consolidated and tightened up thinking we would break and test previous pop and lots of room to run on a potential squeeze into the close. Took first partial, and then didn't like the volume increasing on selling so adjusted stop and got out at my entry point. Good: Partials into levels Improvement: This one could have been all or none for a quick 2R. Today's Review Poor trade management, Ended up coming back close to breakeven as I hit a few plays at the end of the day. However, took inconstant size on my setups (2 big winners were 1/4 size and 1/2 size) which killed me. Feel like I am trying to force these triangles or taking the position in a poor risk defined area, partially to do with I am just starting to get these into the playbook but also that I am not wanting to miss them....Will continue to keep working on these, as I really thing there is something there. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 6/8 2. Placing trades with defined risk, and profit targets (No adjusting) = 4/8 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN 1 Share this post Link to post Share on other sites
Valentin 84 Posted May 6, 2020 Day 81 - May 5, 2020 30 Tickets 4 Symbol Green Day Watchlist: RVOL at open W - 1500% CHHH - 2400% NCLH - 800% Trades NCLH (1) - Short - Technical Breakout (Premarket, -1 Not in Playbook) Knew this wasn’t in my playbook, and was chasing the drop - but had some bad news so I took it short 1/2 size into the breakout from previous level. Held an stepped me out at 20MA. Good: Followed rules on taking half size in pre-market. NCLH (2) - Short - Failed Pop (-1 Not in Playbook) Similar idea to previous short, but this time it broke through previous level, bounced and failed to reclaim that support, turning into resistance. Dropped and I covered some quick as realized it am a little extended and chasing. Took the rest off as it broke through that level. Good: Tight risk management CHGG (1) - Long - Asymmetrical Triangle CHGG strong gap and go play, earnings were solid and decent short float - potential runner. Took it as it broke through asymmetrical triangle / wedge with increasing volume, thinking we could see a continuation rally and potential squeeze. Partialed into previous level, planned Good: Using volume as validation, and overall strong Improvement: Need to work on partialing - once again gave missed out on a big runner, adjusting to quick and not sticking to plan. NCLH (3) - Short - Descending triangle Was short biased on this on terrible news, and provided a perfect setup - descending triangle, off yesterdays low and MA's pushing down. Ended up working nicely but didn’t follow my partialing plan, first partial was ok as I got in front of the bid at 12, but then panicked and didn’t want it to move against me…there was absolutely 0 reason to exit here. Good: Lots of validation here - Daily level, A+ Setup, strong catalyst, volume, breaking Point of Control. Improvement: Really need to follow my exit plan, or wait for an exit signal - there was non here. AAL - Short - Descending triangle Consolidated under VWAP with a strong level at 9.79/9.8 getting hid over and over again with size, but bid kept holding. Bounces were getting weaker and weaker so I took it short as it looked like we approached apex (Half size as it is mid day - my stats mid day aren't good. ) Stop above VWAP in case it squeezed to take stops out like it has in the past. Was thinking we could break and test LOD. Good: Good job noticing the bid getting tested over and over at that 9.8 level. Improvement: Need to have a better rule for this, as I am taking half size on some and full on others…ended up with a nice move on conviction. UAL - Short - Descending Triangle Same setup as AAL, took it short (half size, mid day play) as it looked like it approached APEX. Super tight consolidation with paper thin stops, thinking we could see it break through to LOD. Stopped out once, then tried it again (half size) as I felt like it was a shake out. Stopped out again. Consolidated and did nothing for over an hour and then boom…..patience pays, but I didn’t have any. Good: Tight risk in the end will save me.. although I took it a little tight here, I am fine with that. Improvement: Could have entered as it broke down, I saw it but was gun shy as I took a couple of losses already. Note: When it consolidates this long, a big move is bound to happen, especially as it break on large volume. Look at the 50MA on the 5 min - reject to the penny….yellow box shows opportunity. NCLH (4) - Short - Technical Breakdown (-1 Not in Playbook) Wasn’t a great setup, but noticed NCLH selling off into the daily level of 11.18/20 ish, got In front of the big bid at 11.20 as it was getting hit with velocity and offers were piling up. Thinking we would retest LOD. Broke down but held 11.15 and bounced back up to stop me out. Good: Took half size as its not in my playbook, I like this. CHGG (2) - VWAP Break and Go (Scalp) Took CHGG short as volume coming in on selling side, and SPY getting hit hard as well. Partialed quick as we were in the last 30 minutes of the day and then cut the rest at break even. Good: Decent scalp, this is what I should be doing in last 30 minutes as we could see quick reversals. Today's Review Happy with todays performance. Focus is on process, and although there are still MANY things I need to improve on, I like the way I traded today. Think I need to be a little more selective on the setups I take, but there was no FOMO today, and no Adjusting What I did well: Look for validation, patient for the most part, great risk management, half size in Premarket as planned, and tried half size in mid day as my stats show that’s not a great time for me. What I need to improve on: Not taking profits so quickly, have confidence in my plays and wait for 2R / exit signal to take the first partial. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 5/8 2. Placing trades with defined risk, and profit targets (No adjusting) = 8/8 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN 1 Share this post Link to post Share on other sites
Valentin 84 Posted May 7, 2020 (edited) Day 82 - May 6 , 2020 36 Tickets 9 Symbol Break Even Day Watchlist: RVOL at open SDC - 280% BYNd 700% ATVI 350% Trades SDC (1) - Long - ORB (-1 Not in Playbook) Took SDC long as it tried to sell off on volume, but held VWAP and pushed through opening range. Risking candle low. Not in game plan, but thinking we would squeeze. Trying different strategy = half size. BYND (1) - Long - ABCD Wasn’t patient enough, idea was to wait for it to come back to VWAP and hold 112.75, but it didn’t touch that level, didn’t want to miss out on a potential runner so went long early. Partilaed quick as I didn’t like entry., stopped out on the rets Improvement: Wait for the setup to come to me - was trigger happy and got in knowing it was ready yet. ATVI - Short - ABCD (-1 Adjusted Stop) ATVI sold off hard, and looked like forming a reverse ABCD. Had a positive catalyst and was wick so I Iook it with a wide stop, adjusted to keep it partial size. Not a great setup here, and adjusted stop. Improvement: BYND (2) - Long - Technical Breakout (Ascending Triangle ish) Was strong moving up, I had the idea as it bounce of VWAP 2nd time….but didn’t take it, kept watching and buying vol kept increasing so I took it long risking previous low. Thought we would see strong continuation but it didn’t happen, so I took partial off, and adjusted to break even. Improvement: Poor entry caused me to adjust stop. Thinking small, which caused me to miss the big move. Stepped away 15 minutes, morning session didn’t start great. Tried something new which is ok, but then took 2 poor entries on BYND, following up with poor R/R and trade management on ATVI. EA - Long - Ascending triangle (Sub: VWAP Break n Go) (-1 Adjusted Stop) Late to it - buying the breakout at market order, vs getting in on a pullback. But had VWAP Break and Go pattern setting up as well, so decided to go for it. Good: I think this is a good setup and will take everytime I see it, Breaking through VWAP, PoC as support, higher lowers Improvement: need to get a little earlier on the pullback into the trendline as that would give me tighter risk for better R/R, and allow to partial as we breakout. SDC (2) - Long - Ascending Triangle (Subpar, forced this one) SDC was hitting a wall of offers at 7.9 with lots of volume done around that area, consolidating above VWAP. Took it long in anticipation of breaking through and running to HOD. Should have taken note on that previous breakout, broke through and rejected hard on tons of volume - selling was heavy. SDC (3) - Short - Descending triangle (-1 Adjusted Stop - would have been a nice winner) SDC dropped and stopped me out, started to hold and push down at the 7.65 level - took it short into the apex, realized lots of support at daily level at 7.55 covered into there, and then took some more off as it looked like it was holding the bid. Ended up adjusting stop to breakeven, and got stopped out. No need to be covering here….. Overall selling since the open, testing the breakout point on low volume, terrible trade management Improvement: Need to follow my game plan, poor trade management. 1/4 into the 7.5 level (large bid) and leave the rest at initial stop. Notice I am adjusting to quick and puking the trade watching my PnL. Missed a 4R drop after basically top ticking to breakeven on the rest of my position. GM -Short - Descending triangle GM setting up for a descending triangle on longer time frame thinking this could sell of the rest of the day, took it short (Half size - mid day) as it came up to the top of the trend line on lower volume. Covered into big bid at whole number 20, and again as it made a hammer doji on stopping volume - hindsight this is a great place to cover the rest. Good: This is a good entry, as its moving up rather then shorting as it breaks down. SNAP - Short - Descending Triangle SNAP selling off into the afternoon finding some support at 17.5 level which is PDC, VWAP and PoC (powerful indicator). Short half size (still trading mid day size - should be going in more into the close) as we failed to pop and got rejected by 50MA on 1, and 20MA on 5. Idea was to add more size as we retested 17.5. Slow grind down, but got a nice bottom tick on cover as I placed in front of large bid, then came up to retest the breakdown area and instead of adding as planned, I adjusted stop and covered - WHY? And thenn of course plays out exactly as planned. Good: Triple validation, PDC, VWAP and Point of Control on VolumebyPrice Improvement: Stop adjusting stops and follow your plan - "will add as we break 17.5 level and retest" is what I had in notes as I entered…emotions got to me and I covered right into resistance. Also, took way too wide of a stop. Could have controlled risk a lot better here. CCL - Long - Breakout Pullback? (-1 Not in Playbook) Not in my playbook, but it broke through VWAP on volume, came back down, held the 50M closely and was curling up, rook it as it broke out on volume out of a tight consolidation thinking we would retest highs. First partial was into VWAP (poor R/R) and second partial was into previous high - missed by 1cent, and got stopped out. Improvement: Not a great setup here, need to stick to my plays. Also going long into a major resistance of PDC, POC and VWAP plus selling pressure most of the day - low probabilities NCLH - Short - Technical Breakdown (-1 Not in Playbook) NCLH breaking down, ended up getting in too late, but liked the break of major level, PDC and PoC. Short with stop below previous pivot high. Tried to bounce but rejected off MA's so I went short again as it was breaking down on higher volume. Stop was too wide here, breakdown occurred but R/R was terrible so was waiting for a bigger more. Ended up adjusting stop, stopped out on half, and then left the rest on till close. Improvement: No need to be trading this, not in playbook, and already made the extended move, plus poor R/R here. W - Long - Technical breakout (Ascending Triangle ish) This is chasing, should not be in this…ended up getting in as we were holding and MA's pushing up, SPY also looking like it bottomed and looking to make a push..lots of resistance, if it pops could see a nice squeeze as shorts conitnue to panic and cover before potential pop overnight… other than that poor setup. Into last couple of minutes. Ended up working out so I partialed quick, and came down quick so I stopped at break even. If this had more time in the day think it could have been nice. Todays Review Heavy overtrading, luckily just broke even. Felt very scattered going back and forth trying to find setups, trading 9 symbols?! WTF……out of all that, I had about 3 good setups I would call A+ but my management was absolutely terrible on them. Need to stick to these and watch them closly rather than flipping back and forth. Also was taking half size today a lot, need to get out of this habit. Just recently stopped using the Risk Calculated Hotkey as I noticed I was always getting poor fills, but need to be much more diligent and pay attention to consistent share size other then Pre/Post market and lunch hours. Saw a tweet from SMB - "Trade less, with more size" putting this up in my office - will be my new slogan for the rest of the month. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 9/12 2. Placing trades with defined risk, and profit targets (No adjusting) = 9/12 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Edited May 10, 2020 by Valentin Share this post Link to post Share on other sites
Valentin 84 Posted May 10, 2020 Day 83 - May 7 , 2020 40 Tickets (WTF?) 9 Symbol (Double WTF???) Max Loss Day - Deserved Watchlist Trades VIAC - Long - Technical Breakout (-1 Not in my Playbook, -1 Adjusted Stop) Was looking for the breakout after the pullback, chasing the entry. Half size as its not in my playbook. PTON - Wedge (of rejection) (-1 Not in Playbook, -1 Adjusted Stop) PTON looking weak, selling off. Looking for a breakdown on the rejection and to break LOD. Ended up panicking and taking partial too early as SPY was breaking out. TEVA (1) - Short - Descending triangle (-1 Adjusted Stop) got in toward the top end of the trend. Like the entry - feeling a little uneasy though Improvement: Need to be paying attention to the 5 min for validation. Subpar setup, forcing it. BYND (1) - Short - Descending Triangle BYND selling off and making lower highs, Tried to get In front of the breakdown and shorted into the upper trendline. Took partial off at previous level and held final till break of previous pivot high. SAVE (1) - Short - Descending triangle Took it as the bid at 9.8 was getting hit and major volume was coming in, thinking we would break and test LOD. Took it to early, idea was to wait for 9.87 to catch it on a failed pop, which came right after, providing much better risk. But didn’t work out, and ended up squeezing through VWAP. Improvement: Need to be better at fighting for price on the entry. MRNA - Short - Descending triangle MRNA selling all day with continued selling pressure. broke, tried to push up on low vol and rejected the 9MA….not the best setup and shorting right into Major support, but lots of selling pressure so think we could see test of PML at 49ish…broke down and came back to retest the breakout area on low buying vol, added to it as it looked like it was rejecting off previous level. But held and bounced through. Good: Happy with this trade, think I played it as planned and I like the add into re-test. BYND (2) - Long - VWAP Break and Go Stock operator called out in chat. Liking the 5min, potential to be a runner, SPY coming up to resistance but volume is favored on buying side. Broke through VWAP came back down consolidating just under, took it as it made a break through previous consolidation range. Should be waiting for this and taking around 11.45 around same price. Morning session Just cant figure out this over trading thing. Really starting to bug me…some days are great, others I am jumping from 7 different tickers in one morning. NO MORE OF THIS. Stick with 3-4 that’s when I had the success - do the research and realize this isn't what will make you successful. LYFT (1) - Long - Ascending triangle LYFT setting up for ascending triangle with tight consolidation into the APEX. Poor risk management here, as I took half size even though it was an A+ setup..ended up working, took partials and then tried to do a free roll add with stop below 33 which held nicely after huge OFFER got taken out. Right play here would be to wait for a pullback into MA's both the 50MA on 1min or 9MA on the 5min would have been perfect adds Good: Right idea, but should be waiting for confirmation before doing the add. Improvement: Took half size, on my favorite setup with everything is in my favor and is a A+ setup…..why? TEVA (2) - Long - Ascending triangle Pushing up against 11.67 limit player holding the offer, didn’t see the size but I liked the buyer pressure with higher lows heading into the level. Took it long as it came back into the trend line but as soon as I went long SPY dumped and I got stopped out. This one was also a anticipation of triangle building and tried to take it on the bounce from trend line. Improvement: Hindsight, shouldn't be going against the 50MA on 5 and against the VWAP. Hulk Mode - wasn't reading markets well, but couldn't step away. It is hard to imagine being so tunnel visioned and close minded now, but at the time was very much on edge and trying to force trade. Most of them are no setup whatsoever just head of the moment emotional judgement. SAVE (2) - Short - Chasing (-1 Not in my Playbook, -1 Adjusted Stop) Was watching it setup for a descending triangle at 9.95 and VWAP, as soon as it broke hit support and bounced up, into VWAP, looked like it struggled there and rejected so I went short in anticipation of trend line rejection (too early), continued to squeeze right up to the trendline then came back down. Buying continued and it made higher lows to I stopped at my initial exit just above 10 on trendline break. Improvement: Idea could have worked if I was patient and waited for the trendline to hit and reject. Got in to early. MGNX - Short - Rejection / Breakdown? (-1 Not in my Playbook) Not on main watchlist, browsing through secondary and noticed a limit player holding the 21.5 level to the penny. Got there a little late but shorted MGNX as it was looking weak, selling of all day. Thinking we could break right through and test LOD, SPY also weak. Improvement: This could have been a good short if I noticed this after 2nd rejection of 21.5, and shorted into the 3rd rejection with tight stop. Ended up getting in toward lower end of the range witch wide stop. LYFT (2) - Short - Chasing (-1 Not in my Playbook) Not sure what I was going for here. No clear signal for short, overtrading and chasing. SPY - Short - Failed Pop (-1 Not in my Playbook) SPY in downtrend, was waiting for a few failed pop. Overall entry was pretty good, but this time trade management very poor. Had 2R but didn’t take it as I was completely out of it. Rejected, and I added again, perfect retest of lows and I didn’t take profit. Squeezed once, then into close. Improvement: Trade Management was non-existent here. Trades worked, add worked, but was hoping for a bigger move…. BYND (3) - VWAP Break and Go Continuing to force, I saw BYND break through VWAP, tried to push up but rejected and broke down (VWAP Break and go entry) missed it, but noticed it consolidated at previous support level. Tried to push and rejected once again so I took it short, poor placement for stop as well. Trade Review Same thing as yesterday except max loss day.. makes sense. You know what you SHOULDN’T DO and do it, much deserved loss day today as I broke a lot of rules. Still not able to control myself, as I was approaching close I will still somewhat composed and then HULK mode took over, couldn’t step away from the computer kept entering absolute shit setups over and over. No trading tomorrow. Sounds counterintuitive, but I think I might UP my trade size which I think will force me to trade less as I will have only so many mistakes through the day. Also realizing my Daily goal is WAY to wide for the current positions im taking. Daily goal = 10R. Either bring my Daily goal down, or increase size therefore take less trades…will do some thinking over the weekend and see what I come up with. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 8/14 2. Placing trades with defined risk, and profit targets (No adjusting) = 10/14 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Share this post Link to post Share on other sites
Valentin 84 Posted May 12, 2020 Day 84 - May 11 , 2020 39 Tickets 2 Symbols Red Day Watchlist: RVOL at open UAA: 329% WORK: 182% BYND: 143% Changed from AMC to beyond - didn't like how AMC was trading at open. Trades WORK (1) - Long - Lvl 2 (Held Bid at PML, -1 Not in Playbook) WORK dropped into pre market support, saw a big bid at 30.45 which held took it Long off that level risking low. Still working on this setup, but it seems like some nice R/R potential if it works, and potential for all day runner? Good: Good read on premarket level, and level 2 holding the big. BYND (1) - Short - Descending Triangle (-1 Adjusted Stop) Was looking to take it on the descending triangle but I Missed the move, wanted to see rejection of VWAP but didn’t bounce so I short into the breakdown and failed pop = wasn’t patient, need to be holding off until VWAP and the breakpoint is tested. Got int too early after a heavy sell off, volume was confirming but held to PDC both time showing support Improvement: Need to decide what I'm doing, either Descending triangle or wait for confirmation on failed pop . WORK (2) - Long - Asymmetrical Triangle Long biased as we are above that 30 level of major consolidation breakout. Holding above VWAP with higher lows being put in. Thinking we would breakout and head to HOD. Sold into pop and then again into HOD, added to position as it broke through wedge with strength. Too quick to cover as I didn’t get a solid entry, consolidated and made another triangle (ascending) took it long around my main core position and sold into pops 2nd partial was after the big spike and rejection coupled with potential exhaustion volume. Final partial at break of trendline. Good: Holding a core position and Re-adding size after taking some risk off UAA - Short - Descending Triangle UAA is weak, and selling off. Took half size as it rejected Mas and was heading into the apex and once again as it broke down with volume validation. Good: Happy with the adding size on confirmation of breakdown. Improvement: Keep an eye out as that hammer doji after the break didn’t seem that great. No need to be splitting the covers here - you are wrong and get out UAA (2)- Short - Technical breakdown (-1 Not in Playbook) Was distracted with work, but Saw tight consolidation and just jumped in. revenge trading after getting stopped out on my previous setup. Improvement: Should not be taking this trade BYND (2) - Long - Ascending Triangle Watched it trend higher and form ascending triangle, was looking to get in closer to trendline but it broke out through 136.5 and I went long (FOMO) .Didn’t use my checklist, but SPY was breaking out and BYND holding that 136.5 level thinking we could bust out. Stop hunting on both sides and then rallied. BYND (3) - Long - Breakout Pullback (Revenge trading, -1 Not in Playbook) Got stopped out bottom tick basically and then took off without me on strong buying volume. Tight consolidation on low volume so I went in thinking we could continue to HOD. Stopped out. Work (3) - Short - Lvl 2 - Big Bid Refreshing Usually would look at this as short Descending Triangle but Big limit player holding 31.30 on the bid and kept refreshing order size, and although the Selling was continuous it wasn’t hitting the bid hard. Some prints on bid some on offer. Took this with very low with (4c) just below 30 and 27bids, broke down but happened so quick I didn’t get filled? Then rallied. Improvement: Wait for the Fake breakdown to go through and then load up for much stronger confirmation. Also should be adding into the 13:10 after it broke out and tried to retest but couldn’t. WORK (4) - Long - Ascending Breakout (-1 Adjusting Stop) Ended up chasing and buying on the breakout vs looking for a test on support. Overall buying is in control. Panicked out, 32 wasn’t getting lifted at all, no asks getting hit. Potential held offer and drop here. Volume coming in on selling over and over. Stopped out at breakeven - Need to wait for better confirmation . Finally broke out and consolidated back on low volume - took it long for a continuation. Failed and stopped out. BYND (4) - Short - Failed pop (-1 Not in Playbook, Chasing) Saw the lower highs formed, coming up and getting rejected by MA's Took it short with anticipation this rejects and continued down. Improvement: Cant be ignoring major levels - 130 has been support in past, and bounced right off there this time. Don't be chasing here - very extended. UAA - Short - Level 2 (Offer Stacking up, -1 Not in Playbook) Took a short in UAA into the close as there was lots of asks stacking up with HEAVY size..didn't go anywhere, covered for flat. Improvement: No trading in last 10-15 minutes. Don’t know exact stats, but overall my mental state isnt the same - forcing trades, especially when im in the red. Trade Review Overall had a decent day, some solid trades but still too scattered. Entries were good on WORK but trade management was poor - should have been a much bigger winner, but I was scared and kept taking profits too quick. Need to focus on doing less, way too many trades. Rather than being a sniper I am firing all over the place hoping to get lucky - STICK TO YOUR SETUPS. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 6/11 2. Placing trades with defined risk, and profit targets (No adjusting) = 9/11 1 Share this post Link to post Share on other sites
Valentin 84 Posted May 13, 2020 (edited) Day 85 - May 12 , 2020 37 Tickets 5 Symbols (1 premarket, and forgot about it) Green Day Watchlist: RVOL at open NVAX: 2000% + MRNA: 300% DDOG: 1500% Trades SDC - Breakout Pullback (Pre-Market, -1 Not in Playbook) Huge squeeze on good volume in premarket, came back down and held VWAP at the 10$ mark also at PMH, took it on a long (half size in pre-market) but ended up being a dead cat bounce. NVAX (1) - Long - Support of PMH ( -1 Not in Playbook) NVAX strong in premarket but selling off into the open due to profit taking (up ~ 60%). Selling right at the open, but held premarket high and popped up on buying pressure, took it long as it broke through previous candle. Partial on the way up (too early) then final at breakeven but slippage on hard sellof. Bounce again of pre market high and I took it long, covered partial into VWAP and got stopped out. Good: Trying out new setup at the open, pre-market levels + Lvl 2 signal. Has been pretty good so far. Improvement: Still working on this, but entry might have been a little early - better entry would have been 2nd candle, as it dipped but failed to drop and then reclaimed again. Also should be much better with partialing notice I got too excited as it moves quick at the open. DDOG (1) - ABCD (Lvl 2 held bid, -1 Adjusted Stop) Strong push at the open then come back down to VWAP and spiked to HOD. Same thing, came down to VWAP and looked like a hidden buyer at 64.23 held the bid for multiple bars, volume selling into it but 64.23 kept refreshing, looks like Institutional player buyer at VWAP so I got long, risking few cents below the held bid. Sold partial into 2R pop and then adjusted stop - stopped out, but saw strength into asymmetrical triangle and added more - taking partials at 2/3/4 R (panicked at 4 and cut it short through we might reverse). Good: Good catch on VWAP and Lvl 2 - big player coming in. Improvement: Adjusted stop - once again hurt me. Could have kept as loss of that level and then add where I took more. NVAX (2) - Long - Ascending triangle NVAX setting up for ascending triangle, took small size (20%) into the break thinking to add on retest - but went straight up with no chance, partial at 3R and then got greedy due to small risk taken and got stopped out on major drop. Improvement: 20% isnt worth taking, 50% should be minimum risk, with idea to add more. DDOG (2) - Long - Ascending Triangle (Limit Player on Lvl 2) 67.8 limit player slowly getting taken out, took a long (small size) Finally broke out and covered into the pop. Smaller size as its mid-day - but too small, need to be taking half size at least. Good: Right idea and entry which allowed for low risk. Improvement: Small minded, need to keep some more on and let it ride - nothing to be scared off especially with smaller size and tight stop. Same thing - need to be taking 50% position sizing here…killing my PnL taking too little size MRNA (1) - Short - Descending Triangle (Fake out, Bid Drop and reclaim) Missed the rejection of 65 level holding the offer very strongly, took it as we came down and tested 64.5 multiple times and bid finally cracked, few prints at 64.495 - got short, bid reclaimed and quickly stepped up and stopped me out. Improvement: Saw the level drop, but need to wait for ask to hold below the 64.5 to confirm the buyer is gone - faked me out nicely. DDOG (3) - Long - Ascending Triangle Overall uptrend and forming a larger ascending triangle on the 5 min, was looking for minor pullbacks to buy and sell into the pops/key levels while trading around a core position. Improvement: Overall happy with this trade, but had much more to take from this - need to let them play out rather than quick scalping every time. MRNA (2) - Short - Failed Pop (-1 Not in Playbook) MRNA looking week, huge selling volume and getting rejected my MA's - made a bearish doji and went short as it broke below on the 5 min. Small size, as its not in my playbook and wasn’t getting a great read on how it was trading. Got 2R and took of full position in front of previous level bounce. Good: Happy taking small size in a scalp for a setup that’s not in my playbook but looking weak, took 2R on the trade and took full size off. SPY - Short - Technical Breakdown (-1 Not in Playbook) SPY looking very bearish, strong sell off through previous day low. Tried to recalim but failed - took it short as it broke LOD risking 290 level just above previous day low level. Working out in my favor, with continued selling. Not in my playbook so I took partial size for a scalp, got my 2R and took full position off. Good: Happy taking small size in a scalp for a setup that’s not in my playbook but looking weak, took 2R on the trade and took full size off. Trade Review Considering the W/L ratio I should be much happier about how the day went, one of my bigger days In a while. I had a great read on market, but still felt like I was trading a lot - although I stuck with stocks I was watching and had a better feel for it. What im not happy with is partial sizing, few trades I took today were at 1/5 or 1/4 the regular size, when my rule says to be 1/2 (premarket, mid day unless A+ setup). Coming off a few losing days I guess this can be natural to size down, but I think there was a lot left on the table. Takeaways from today: Stick to the 3 strocks you are watching, get a feel for them - this will highly increase your odds than jumping back and forth. Started reading Lvl 2 a bit more today which provided some clear cut trades - DDOG refreshing and held bit off VWAP for LOW risk and huge potential reward. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 5/9 2. Placing trades with defined risk, and profit targets (No adjusting) = 8/9 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Edited May 13, 2020 by Valentin 1 Share this post Link to post Share on other sites
Mark D. 435 Posted May 13, 2020 nice ABCD in $DDOG i was bummed i missed it Share this post Link to post Share on other sites
Valentin 84 Posted May 14, 2020 5 hours ago, Mark D. said: nice ABCD in $DDOG i was bummed i missed it Thanks Mark - Big money was definitely coming in that day. Working on holding these trades throughout the day on these strong catalyst plays as I left ALOT on the table....live and learn I guess Share this post Link to post Share on other sites
Valentin 84 Posted May 14, 2020 Day 85 - May 13, 2020 37 Tickets 4 Symbols Green Day Watchlist: Trades SPY (1) - Double bottom (-1 Not in Playbook) Long as it broke out on the 1 min and 5min - I knew this wasn’t in my game plan but took it anyway as I couldn’t find anything else - took half size because of this. Poor self contorl over all, had the right idea but bad timing as I wasn’t thinking straight. BYND (1) - Long - Breakout Pullback (-1 Not in Playbook) BYND strong push up to HOD, pulled back but got bought up right showing strength. Went long as we made a new 1 min high, idea was to have a tight stop loss but actually had a hotkey error which ended up saving me around 0.5R. BYND (2) - Long - ABCD Waited for better entry, selling wasn’t strong and held VWAP so I took it long stop below previous candle and break of VWAP. Covered into previous day high, and then again into previous pop high Infront of big offer at 146. Almost got stopped out, bounced up and rejected so I took the rest off. Improvement: Exit was way too wide here, took it with stop below the 142.5 level giving it some space since it didn’t go through VWAP yet. SDC (1) - Long - Asymmetrical Triangle (Lvl 2 Bids, -1 Adjusted Stop) SDC consolidating after huge drop, initially was looking like a potential Bear wedge, but looked like it caught a bid as soon as 7.72 kept holding, then huge bid (60K shares) joined the bid, and also lifted the offer few times also saw SPY breaking out which provided additional confirmation. Took it long with stop below previous pivot low. Good: Validating with SPY, Lvl 2 and volume and PoC. Improvement: Terrible trade management here - didn’t follow my risk sizing, didn’t follow my exit strategy and took profits early, and adjusted my stop which took me out at at basically bottom tick and then moved up 4R without me. UAL (1) - Short - Descending triangle (Andrew called out, fit my criteria all good) Called out in chatroom, as it was looking weak - perfect setup for my Descending Triangle criteria so I took it as it was looking weak heading into the big bid at 21.50. Tight stop, and worked right away - took partials too quickly and then again in front of the 21 level. Came back up to retest the breakout zone, and dropped, was holding 21 again so I took some more off. Consolidated and di the same thing over few times, shorting break of triangle and covering into drops. Was looking strong toward bottom, didn’t break so I took majority off and stopped on final partial. Improvement: Once these Triangle have weakness, break and try to retest look for a low risk entry here. Exact same thing happened with BYND BYND (3) - Short - Descending Triangle (Sub: VWAP Break and go) Took it on the drop will look to add if confirmed weakness, but don’t like the premarket high holding. Broke through on volume and then came back up to retest as it broke down through premarket high I took it short. Consolidated briefly and started to come down to part off into previous low. Improvement: Should have noticed the big limit player holding at 141 and gotten out, then reshorted into the previous breakdown level which has been a level all day. Notes: Watching LVL 2 recording, big bid showing at 141 (53K shares), got to the level and 82K Shares hit the bid hard but bid refreshed and held, with another 62K on the bid. Hit hard again but kept refreshing and showed 100K on the bid. Limit player with too much size = great low risk entry as he kept refreshing. UAL (2) - Long - Breakout Pullback (-1 Not in my Playbook) Long as trendline held and broke out of 5 min high expecting to push into VWAP +. Not in my playbook and not a great setup, I didn't like the buying volume but selling on the overall day was too strong. Stopped out. BYND (4) - Short - Asymmetrical Triangle This was 50/50 could have gone either direction, but saw SPY dropping and overall price action was feeling bearish so I took it short with tight stop. Should have waited for the break of the trend for a quick scalp. Improvement: Wait for confirmation on assymetrical, as it could be 50/50 unless theres a clear signal SPY (2) - Short - Descending Triangle Small size on the breakdown with heavy volume. Was all or none scalp - missed 2R by 5c and then stopped out. Should be cutting at break even here… SDC (2) - Short - Descending Triangle Short as it broke down, tested the level and rejected - short on confirmation with tight stop right above breakout level. Cover Infront of round levels 7.60, didn’t hit 7.51 so I adjusted. Good: Good low risk read, and covered into levels. Improvement: This could be 2 entries, either on initial breakdown and on the reject, or on the reject and then on the 2nd breakdown. Todays Review My trade ideas have been better lately with a higher win % - however, I haven't had the confidence to trade regular size. Not sure why this is happening - maybe scared after having a few terrible days? Happy with my thought process on majority of the trades, becoming better at seeing opportunities but still taking poor setups which I need to eliminate. Started to consciously think about my exits 2/3/4R or major levels as I am working on getting my R/R up - Goal is 3, which allow for a Win rate of 25% to breakeven. Few nice breakdowns on Descending triangle - will be going into more depth on this setup as I really like the opportunity it provides. Idea is short confirmation on the tape before the drop, partial into the drop if adequate R/R, and then re add size as we try to retest that breakdown zone, especially if it's into a major level (mirror level), and then add into failed pops. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 7/10 2. Placing trades with defined risk, and profit targets (No adjusting) = 8/10 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN 1 Share this post Link to post Share on other sites
