Valentin 84 Posted May 15, 2020 (edited) Day 86 - May 14 , 2020 42 Tickets 5 Symbols Green Day Watchlist: RVOL at open (10:07) CSCO - 375% ALO - 1140% BA - 135% BYND - 129% Trades ALLO (1) - Long - Breakout (Chasing, -1 Not in Playbook) Was watching the ABCD pullback into VWAP but didn’t like the upper wick doji as well as the major selling volume coming in right after. Held and I got FOMO as I saw decreasing vol, VWAP hold, Strong catalyst, high short interest and ended up chasing. Tried to take half size but due to slippage ended up taking a full R loss. Improvement: Have a better game plan in the morning - had the right idea but chased this hard, with inaccurate size, also didn’t account for slippage - spread was pretty wild. BA - Short - ABCD Weak off the open, first bear signal was tried to push through previous day low and rejected hard. Came down made a new low and tried to push through VWAP and pre-market low level, rejected and offered a great entry off the level. Took partials (random It seems like) on the way down, and then as it broke the 20EMA on the 1 min. top ticked before dropped again. Good: Like the patience, and using levels for validation, volume also in favor. Improvement: Trade management very poor - gave up a lot of the move as I didn’t follow my exit strategy, taking partials at random places? Notes: Magic levels - Y Low at 119.3 buyers try to push through on opening drive, reject and flush. Then try to push through PML 2 times reject and fall 4points. CSCO (1) - Long - ABCD/Wedge-ish CSCO strong of open, was consolidating and looking to breakout of the bull wedge / ABCD pattern. Took half size as I wasn’t confident with half size, idea would be to add if it showed clear strength. Didn't happen so I covered as it showed weakness on the 2nd breakout. ALLO (2) - Long - ABCD Took it on the pullback into VWAP. Thesis was long as it has high short interested thinking we could squeeze, worked out in my favor - took the first partial into previous resistance and then panic covered as I thought rally was over - couldn’t push higher on big volume bar potential exhaustion, didn’t follow my exit plan got greedy and covered like a noob into support….. Improvement: FOLLOW EXIT STRATEGY - Once again, due to partialing to quick I didn’t follow the plan. Got greedy thinking this thing could retest highs all in one shot. Lost quite a bit of R on that. BYND - Long - Ascending triangle BYND had nice buying pressure and coming into HOD - took it as it moved toward APEX and made higher highs in anticipation of a pop into PMH. Worked out, took it on first pop into HOD and 2nd into PMH. Partials were a little quick but that’s because of specific levels. Good: Taking partials into important levels, noticing strength and validation of volume and anticipating the move with tight stop rather than chasing. CSCO (2) - Long - Asymmetrical Triangle, Bull wedge Coming into an apex with volume quieting down. Took it as it came to the lower end. Will buy some more on confirmed breakout, with SPY strong as well (.14c risk at 43.83) ALLO (3) - Long - Ascending Triangle ALLO pushing up strong but coming to a resistance point at PreMarket level - forming higher highs into an APEX - took it long as we were looking like going to breakout on Lvl 2 - buyers pushing up. Covered into 41 whole level, plan was to cover again into 42 but broke down and didn’t like selling coming in so covered again into 1R and then stop loss. ALLO (4) - Long - Ascending Triangle (chasing) Saw this setting up for an ascending triangle, but didn’t like the price actionn on way up. Bars were "gappy" with not much strength. Ended up chasing and getting stopped out. Improvement: Wrote this down as a trade idea before taking it, and didn’t feel right. When this happens DON’T TAKE THE TRADE. CSCO (3) - Short - Range Trading (-1 Not in Playbook) Created a range between 43.8 and 43.6, thought I would try a scalping strategy. Took it with tight stop (.6c) and covered into lower range. Panic covered the 2nd one as I thought we might be coming back up, but then rejection and tried to sell hard through the range so I took another short - poor entry. This wasn’t in my plan, got too excited on the breakdown - stopped out. Tried another time, filled toward bottom, and the stopped out as it broke range Improvement: As this is a new strategy, and low probability it seems like- I should be doing All in / All out. Tight risk, and cover full at bottom, wait for retest of top of range to hit and then try again cover full at bottom. Patience isn't quite there yet. SPY (1) - Long - Asymmetrical Triangle SPY Strong volume and consolidating at HOD - took as as it was approaching breakout from ascending triangle. Covered into HOD and then thought we would see a strong continuation but got stopped out. SPY (2) - Short - Failed Pop (-1 Not in Playbook) Overtrading at this point, saw SPY make a bearish doji after hitting HOD and then dropping, took it on the failed pop as it made another bearish doji - stopped out. Todays Review Another day of positive results, some very solid setups and entry's - happy with the last couple of days. But same story, trade management is just killing me. Still cutting plays at the worst spots, not following plan for 2/3/4 R exits (other than a few major level exits, which I am happy with) Going to go back into hotkeys and put in the 2/3/4 R plays - now that I am entering manually (which is also another problem, taking less risk on purpose) To Do for the weekend: 1.Implement hotkeys for 2/3/4 R profit targets - Stats have shown over last few weeks, that avg winner would be just around 4R. I know it’s not a very dynamic rule but that’s what I think I need to implement in near term until I really get my entries and risk management down. 2.Research different entry strategies for my setups that have worked. 1 Tier in anticipation (Triangles) and add another tier once confirmed? 3.Continue with level 2 - specific signals for my setups. Lvl 2 signals for Triangle is this weekend study. 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) = 10/10 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Edited May 15, 2020 by Valentin Share this post Link to post Share on other sites
Valentin 84 Posted May 17, 2020 Day 87 - May 15 , 2020 52 Tickets (Way to many - overtrading) 3 Symbols Breakeven Day Watchlist: RVOL at open (10:07) SRNE - 6000% JD - 840% ABT - 107% ACB - 470% Pre-Market note - wasn’t feeling great, tired as I had a terrible sleep. Was thinking of just watching today, but decided I would allow a few trades on small size. SRNE (1) - Long - Technical Breakout (-1 Not in Playbook, Pre-market) SRNE was strong in premarket and breaking out of premarket resistance on rising vol. Took it long thinking we could see a spike into HOD+. Got out into first spike, and then out as premarket level broke. JD (1) - Long - ABCD (-1 Adjusted Stop) Gapping up overnight, started selling off into pre market finding support at PML. Showed strength on increasing volume, then pulled back into VWAP with low volume validation. Took it off the support at 50.20 looking for HOD push. Manual risk size - took too much, so cut part of it off right away. Stopped out on rest. Improvement: Wasn’t feeling well mentally and forcing subpar setups. Did not wait for confirmation here and took too much size. ACB (1) - Long - Breakout Pullback (Sub: ABCD-ish) In play on earnings. Strong push at the open, missed the ABCD entry into VWAP, and continued pushing. Started consolidating and pulling back on low volume with lower wicks - went long as we failed to make lower low and pushed up off 9 level, stop just below. Covered into previous pop (need to hold this) and then again at 2.5R. Good: I like the patience rather than chasing the spike up - found a good whole level which held to risk off. ACB (2) - Long - Technical Breakout (-1 Not in Playbook) Came down off highs but held higher low and started to move up slowly into major resistance at 9.6 (daily level). Took intial position as we were breaking out, and added as it confirmed higher low on short time frame. Stopped out on break of uptrend. Improvement: Tough time describing which setup this. Potential Breakout Pullback, Technical Breakout, ABCD….clearly not a good setup if I cant figure out how im going to play it… JD (2) - Long - Asymmetrical Triangle (Anticipating) JD making lower highs and higher lows into an asymmetrical triangle. Holding above VWAP and above PoC. Took a position as it approached bottom trendline as support and was holding VWAP - tight stop which got triggered right away. Improvement: Was biased on this, and tried to anticipate the move long. Clear signals that it was going short if I wasn’t biased as soon as it broke below VWAP, rejected VWAP on a upper wick and then dropped nicely. STOP BEING BIASED. SRNE (2) - Long - VWAP Break and Go Took SRNE long as it came back up over VWAP and held, thinking we could see a continued squeeze (high short interest) through Premarket resistance and toward HOD. Worked out exactly as planned but my trade management ruined it. that and I took partials WAY too quick on the first 2. From there partial into 2R, HOD, and extension. Good: Volume validation, break of major level, tight and defined risk. Improvement: Trade management is terrible here. Have been working on exit strategy which would have made this into a nice winner, but ended up covering half UNDER 1R?! WTF ACB (3) - Short - VWAP Break and Go Looked like it was turning over, selling pressure coming in. Short as it broke VWAP after getting rejected by MA. Stopped out as it broke previous consolidation. ACB (4 and 5) - Long - Technical Breakout + Asymmetrical Triangle (-1 Adjusted Stop, -1 Not in Playbook) Held VWAP, and made a few nice hammers on the 5min, took it on the breakout. Stopped out below previous consolidation (stupid stop - held VWAP). Realized this and saw it coming up into breakout from trend line and took it long. Covering into previous levels. Improvement: Need to be more cognizant of areas in placing stops. Very stupid placement - due to chasing and having too small of an idea on this play. JD (3) - Short - Failed pop? (Overtrading, -1 Not in Playbook, -1 Adjusted Stop) Revenge trading here. Stopped out a couple times on JD and missed the breakdown….Failed to bounce through and got rejected hard by 50 even number. Missed the proper entry, ended up chasing and not sure what happened but covered right away? Realized it was a poor cover, so re-shorted and covered into drop. Then at break even. Formed tight consolidation and then looked like turning over soi shorted again and covered into previous levels, then tried Improvement: Mind was all over the place, shouldn’t be taking this setup. JD (4) - Short - Descending Triangle JD formed tight consolidation near the top of the descending triangle, after being weak for most of the day. Took it short with stop just above consolidation in anticipation to test LOD and break through. Covered too quickly leaving 1/4 on for break of triangle. Broke through and I added another tier - fake break so I covered all. SRNE (3) - Asymmetrical Triangle (Bull Wedge) Formed a tight consolidation, was expecting to breakout, stopped out. ACB (6) - Long - Asymmetrical Triangle (anticipation) Anticipating here, took it long as saw a few hammer dojis on the 1min with stop just below break of trend line. Good: Tight risk management Improvement: Anticipation play - low probability setup. ACB (7) - Long - Asymmetrical Triangle Continuing to over trade, took ACB as it broke out..mind was not in it at all. Got a spike and sold for no reason? Then realized this could still run..took it on the minor ascending traignle break and covere into indecision candle? Improvement: Overall very sloppy, panic covering and missed a beautiful move up. SRNE (4 and 5) - Long - Technical Breakout + Ascending Triangle (-1 Not in Playbook, -1 Adjusted Stop) Thinking we could see retest of highs, too the breakout of previous high - adjusted stop, as I didn’t like the big wick down. Then took it as it hit the bottom trendline expecting a bounce, stopped out. Todays Review Coming out at breakeven on a day like this is the best case scenario. Didn’t follow my rule of trading less when I knew I wasn’t in the proper mental state. Very noticeable. Overtrading, taking random size, not trading my setups, not writing down setups before the occur. Had some great opportunities in ACB, SRNE and JD - but my trade management killed it. Also wasn’t selective enough, trading poor setups. One thing I did do well on, is keeping losses small with a tight stop. Need to work on limiting my setups, and hitting the A+ setups with more size. "Trade less, with more size" Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 9/14 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 18, 2020 (edited) Day 88 - May 18, 2020 Personal: Same game plan today as friday - feeling a little tired. So will be taking it easy - no trading first 10-15 minutes. Watchlist: RVOL at open MRNA - 900% ACB - 370% SRNE - 2400% Trades SRNE (1) - Long - Double bottom? (-1 Not in Playbook, -1 Adjusted Stop) Not in my setups, took it as we are curling up and broke through minor consolidation, thinking we might push through VWAP and pop. Got out of it, didn’t like the rejection, now it’s a short potential. Improvement: Not in my setups, this is looking more like a reverse ABCD / Bear Wedge SRNE (2) - Short - Asymmetrical Triangle (Bear Wedge) SRNE broke down as I expected off that rejection, waited for a short entry on asymmetrical triangle, Broke through previous level and then had a doji below PoC. Short and took into previous level, then ahead of 8 whole level with huge bids. Popped up and rejected MA on indecision candles, took it short on breakdown thinking we could see a break. Improvement: Shouldn’t be re-shorting this, buying started to come in more than before - anomaly Note: This was the good example of adding to short on retest of level of the break. Low vol buying, allowed for nice add MRNA (1) - Long - Breakout Pullback (Sub:Anticipation on VWAP Break n Go, -1 Adjusted stop) Took it in anticipation of pushing back through VWAP into HOD. Ended up pushing my trade at Breakeven, as the huge rejection at 82.5, big ask kept holding Improvement: Didn’t follow my rule on the setup entry - got in before and no confidence, adjusted stop as I didn’t like the upper wicks. ACB (1) - Long - Breakout Pullback (-1 Not in Playbook) Consolidating at daily level with volume validation and lower wicks showing strength. Took the position as we were curling up and breaking through previous candle high. Good: Happy with the patience rather than chasing, waited for few hammers to form with validation of low volume on pullback getting bought back up. MRNA (2) - Long - Ascending Triangle (Chasing) Took MRNA long after panicking out expecting a rally. Chasing this one, as it broke through previous high but got rejected by 84 and stopped me out below VWAP. Seems like I was trying to foce this one. Volume wasn’t giving me too much validation here. MRNA (3) - VWAP break and Go Didn’t follow my rule exactly here, got in as it broke the 1 min. Spy is pushing up but MRNA can hold VWAP. Also didn’t realize the 50MA. Poor trading here. Don’t for the morning after this. Once afgain adjusted my stop (intial was 82.52). Ended up taking it again as SPY turned over - fake breakdown and then stopped me out. Improvement: Not following my own rules and getting burned by them. SRNE (3) - Short - Descending triangle SRNE setting up for a break of 8 (LOD) coming into a descending triangle. Thinking we might pop and then try to test MA's but it broke down on large vol. so I took it on second candle as it failed to pop back above 8, and added as it rejected MA's and level from which it broke down from. Partialed earlier as I didn’t like price action, and buying started to come in. Took another attempt aroud same level as we were consolidating and getting pushed down by all MA's on 1min with large offers providing added pressure at 7.98 and 8.02 (400K shares). Cover into previous level, 2R and into 7/PDC level. SRNE (4 / 5 / 6)- Short - Channel Trading (-3 Not in Playbook) 1. Short as it broke through channel (chasing) Chasing this, was initially thinking to go long as it might be bouncing of PDC and potential exhaustion volume but got FOMO after catching a nice move down. 2. Long as we had a fake breakdown at double bottom, and consolidating above POC. Added as it broke channel on high volume, came down and broke 2nd time but quickly rejected and stopped out. 3. Long - triple bottom? Not sure at this point just chasing. Covered as we started consolidating lower end of channel Improvement: I have not done well trading inside the channel in the past, why am I wasting trades when nothing is going on? Definitely need to Cut this out ACB (2) - Short - Failed Pop (-1 Not in Playbook…Chasing Descending Triangle / Anticipating VWAP Break and Go anticipation) Watching ACB into the assymetrical triangle but didn’t pull trigger, also missed the failed pop 3 candle play. Ended up waiting for it to pop and reject MA's got in short. Grinded down slowly to VWAP and held below forming minor descending triangle - took another short and then stopped out. Improvement: Shorting a 5min bullish hammer, going into VWAP as well as a support area….not happy with this trade. SRNE (7) - Short - Failed Pop (-1 Not in Playbook) SRNE finally broke through Channel - expecting a large move. Broke down and bounced of 6.55 prior day level, couldn’t hold and broke again - short with stop above previous candle wick. Broke down nicely took profits into extension. Leaving partial on at B/E, thinking we could see a rejection from MA's and continue lower. Came close to B/E and then started breaking down so I added to my existing short. Stopped out. Tried again and stopped out. Improvement: Stop trying to chase. 1st entry was great, second entry is fine but no need for 3rd especially as there is no clear sign and heading into close. Todays' Review Lucky to break even….once again, trade size is inconsistent, taking subpar setups which is causing major over trading, still adjusting stops, not using exit strategy. Really need to figure this out as its getting mentally tiring battling with the same problems. Changes I am making to my platform to mitigate some of these problems 1. Inconsistent Trade Size = will be going back to Auto Risk Hotkey, although some of the fills weren't the best due to marketable orders I was consistent with my size every time. 2. Adjusting Stops = Once again disabling "order line movement" as It is to easy to slide when I overreact. 3. Not using exit Strategy - Created hotkeys to place targets automatically once stop and trade is in. 4. Taking subpar setups - no easy way to do this. Maybe need to take mandatory breaks from screen? Will continue working on this Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 5/13 2. Placing trades with defined risk, and profit targets (No adjusting) = 11/13 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Edited May 23, 2020 by Valentin Date update (16th to 18th) Share this post Link to post Share on other sites
Valentin 84 Posted May 20, 2020 Day 89 - May 19 , 2020 47 Tickets (this has been a theme lately, hard for me to stay out of trades) 6 Symbols Green Day Watchlist: RVOL at open ACB - 420% WMT - 500% DAL - 150% UAL - 230% Trades WMT (1) - Long - Reversal (Not in Playbook) Support bounce off 1.29, took it off lower wicks and buying coming in. Little late on entry was looking for the first 1min high. Partial into 20MA and Breakeven. WMT (2) - Short - Descending Triangle WMT weak off open making lower highs, with a nice descending triangle off where it first found support. Bounce 3-4 times and took it as bids were getting smacked. Droppled, added on failed pop. 1st cover was a hotkey error. Then covered into LOD, and panic covered at breakeven on second add. WMT (3) - Long - Technical Breakout (Double Bottom, -1 Not in Playbook) WMT created a double bottom looking like selling was gone. Took it as it broke out from previous level, held through consolidating and then sold into previous support/resistance at 129.25 and again adt break of previous low. WMT (4) - Short - Reversal (-1 Not in Playbook) WMT rejected nicely off the daily mirror level of 129.25 which has been Support/Resistance multiple times. Made a nice bearish doji and took it short on the break of it. Covered too early. WMT (5) - Short - Asymmetrical Triangle (Bear Wedge/Pennant) WMT broke down and consolidating around PDC with range tightning, took is short with stop above previous consolidation. Covered too soon, and adjusted stop to just above 127 (no other reason than that, and got top tick on my cover) Improvement: No need to adjust stop, keep at breakeven UNLESS clear breakthrough MA's or stopping/exhasution volume WMT (6) - Short -Descending Triangle Noticed descending triangle forming with almost 0 buying power coming - shorted as we rejected the top end of the trend line and covered into Extended move Infront of big bid at 126. And then again as looked likt we got stopped volume and then following up with a hammer. DAL - Long - VWAP Break and Go (Chasing) Got in as SPY was pushing up, thinking we could test HOD, ended up chasing and cough the top. Brutal entry here - got FOMO after didn’t follow my own rules of waiting for second break on clear confirmation . Improvement: Need to be patient here, I did not have the signals for entry - there was no 2nd break of VWAP. SPY - Long - Breakout Pullback (-2 Not in Playbook, Adjusted stop) SPY strong breaking HOD, came back down and held PDC as well as support level from yesterday. Tried to break down but buying pressure pushed back up, ended up buying on break of 1min high expecting to test previous highs stop just below consolidation. Broke out and then rejected and reversed - didn’t like it so adjust my stop. UAL (1) - Short - Descending Triangle UAL major sell off at open, failed to reclaim VWAP and making lower highs. Noticed descending triangle settup up, took it at the breakdown with volume validation. Consolidated a bit then sold off, covered into LOD and then again as it looked like we were bounced. Final covered B/E. UAL (2) - Short - VWAP Break and Go UAL broke down hard on hevay volume. Consolidating just under VBWAP failing to break above. Thinking we could see continued with pressure, got stopped out above VWAP. UAL (3) - Short - Ascending Triangle Made a bottom on stopping volume then came up and made higher highs into 200MA on the 1, forming the top base for the ascending triangle. Had a few efforts to sell off right at the apex, but buyers were stepping up. Took it right at the breakout covered in front of big offer at 24.4, and again on pop above previous high. ACB (1) - Long - Asymmetrical Triangle ACB heading into tight consolidation with PoC right at the apex, waited for it to break out of triangle on volume and took it long. Covered into previous high, came down but didn’t looke like it was ready to sell off so I added another on first green candle as a breakout pullback. Stopped out on breakdown. ACB (2) - Long - Not Sure (-1 Not in Playbook) Not sure what I was going for here, POC was holding nicely and ACB looked like it was curling up, so I took it long, stop right below POC and previous low. ACB (3) - Short - Descending Triangle Strong sell off and bounce consolidating right at previous day level resistance turned into support. Took it short as it broke that level, stop just above. Covered into previous level and then again as it held. Left the rest on and covered into LOD and new 5min high. ACB (4) - Short - Failed Pop (-1 Not in Playbook) Didn’t have strong conviction on this, but saw 3 bearish dojis, shooting stars back to back after market shot down, and rejecting that MA so I took it short on the breakdown, thinking we would push to LOD. Stopped out above consolidation. BBY - Long - Asymmetrical Triangle BBY on secondary today after being on watchlist yesterday - earnings continuation. Forming tight range right at apex (POC as well as VWAP - very strong signal) so I took it long thinking we could see a big run. Popped up but didn’t quite get to where I wanted it, came back down and stopped out. Todays' Review So I have been over trading heavily, but I have been getting better results. 1 I think is due to tight risk management, and 2 I think is I am starting to see a lot more winning setups. I have been on this topic for a while, but there's different styles and maybe putting in more trades is mine? Cutting the losers quick and letting the ones I got right ride.....still lots to practice and review. For now hitting Lvl 2 hard. as that has been a HUGE help for me. Specialize in this. Review, review, review. Changes I am trying to make. 1. Inconsistent Trade Size = I like taking smaller size at the open, sizing up when I get my A+ setups and using smaller size for B setups. 2. Adjusting Stops = Much better on this one today. 3. Not using exit Strategy - Still a little tough, but getting there - I notice myself consciously thinking about it so its a good start . 4. Taking subpar setups - still doing this Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 10/16 2. Placing trades with defined risk, and profit targets (No adjusting) = 15/16 Share this post Link to post Share on other sites
Valentin 84 Posted May 21, 2020 (edited) Day 90 - May 20 , 2020 48 Tickets 5 Symbols Break Even Day Watchlist: RVOL at Open ACB: 147% LOW: 432% TGT: 375% INO: 575% WMT: 175% Trades ACB (1) - Short - ABCD (Add Failed pop and Technical Breakdown) ACB sold off with a major engulfing and tried to push through back to VWAP, rejection, and took it on break of 1 min low. Level was looking short with 13.24 refreshing and then 13.25 stepping down. Took partial into LOD, then went short again on failed pop and break of 1 min as 13.05 price held on the offer. Covered into Previous level and extension. Realized it was still weak so took it LOD break and then partialed as price wasn’t going anywhere. LOW (1) - Short - Descending triangle (-1 Adjusted Stop) Had the right call on the descending triangle, covered into LOD and then got stopped out at breakout point, didn’t hold my initial stop loss and got hunted. Improvement: Quit adjusting stop into the level of breakout. INO - Short - Descending triangle INO sold off hard at open failed multiple times in trying to break through MA's but couldn’t. Broke through previous support at 15.65 and quickly bounced. Took it as it approached same level on the descending triangle. Cover inot extended move and then again infront of Big Bid at 15 and Previous day high. WMT (1) - Long - Ascending triangle (-1 Adjusted Stop) Had this on radar before the breakout as it came into 125.5 but SPY was turning over so I didn’t take it. Saw HUGE volume coming in and didn’t want to miss the move…ended up catching the breakout, then added as it held the breakout area and pushed higher. Stop just below the VWAP and POC on the 1min around 125.7 - cents away from stopping me out. Took half off as I didn’t like price action, and the rest as it looked like it was rolling over ACB (2) - Short - Descending Triangle / VWAP Break N Go (-1 Adjusted Stop) Took first one in anticipation as there was selling pressure coming in forcing stock down, 2nd entry was as I saw the bids getting smacked and 3rd as we rejected area we previously broke down from also at VWAP. Stopped out for partial above previous pop above VWAP - faked me out, added as we rejected and came back down. Initially was looking to cover into the big bid at 12.6 and at 12.5, but didn’t like price action with hammer on large vol thinking we could turn back around. Stopped above break and hold of VWAP. WMT (2) - Short - Asymmetrical Triangle (-1 Adjusted Stop) WMT Broke through VWAP on heavt volume and formed a assymetrical triangle (Bear Pennant) with a few shooting star dojis. Took it on drop of the bottom trendline, but held the 125.2 support like it did in past, took partial. Moved my stop to break of MA and got top ticked, target was 124.82 (Previous day low) which would have just hit on the drop. Improvement: Need to quit moving my stop losses - losing out on profits when I do this. TGT - Long - Reversal (-2 Not In Playbook, Adjusted Stop) Took the pop thinking we would curl up. Risk 30c, target will be 120.33 (previous support turning into resistance WMT (3) - Short - Descending Triangle WMT bouncing around PDC with selling pressure coming in. Took it short as we got to a short term descending triangle apex. Dropped and hit PDL and quickly bounced. Didn’t take profits, even though that was the level I had been targeting. Bounced up and took me out. Improvement: Levels are levels, don’t ignore them just because your entry isnt great. 124.82 was my target from previous short, poor trade management caused me to miss the play - DO NOT let this impact where you take profits - stick to your plan. LOW (2) - Short - Failed pop (Flipped long based on lvl 2 lifting the ask, -1 Not In Playbook) Missed a nice asymmetrical triangle breakdown and rejection of PDC and then took it as a failed pop. Took partial as we broke but failed to continue, came back and now 116 is holding on refreshing ask, moved stop just above and flipped position as I thoughgt the lift of the offer could see a nice rally - stop was too tight, but ended up doing exactly as I though. Improvement: Allow a little more space for the setup to play out, flipped the position and put stop in too tight. ACB (3) - Short - Descending Triangle Range tightening up looking like a descending triangle, below the VWAP as well as POC which should offer additional selling pressure. Took it in anticipation thinking the top trend would hold. Covered into VWAP and switched position for a VWAP break N Go. Covered as we had some weird price action and then rejected 13.1. Stopped out as it came back down through VWAP (Slippage). Todays Review Still having troubles with the same problem. Have been more profitable over the last couple of weeks, but as soon as I got rid of kyles hotkeys in order to work on manual entry (better fills on limit orders) I have been taking smaller size on sub par setups. With the thought process if "If I lose it wont hurt that bad, as its small size" which is distracting me from finding A+ Setups. Need to find that sweet spot. Back to Kyles Hotkeys. Will try to find a hotkey that used Limit Orders vs Market orders and calculated same stop. Other than that - adjusting my stops is also hurting me. 2x today If I didn’t adjust I would have gotten to my goal (potential 3.4R and 4R). Changes I am trying to make. 1. Inconsistent Trade Size = Still struggling. Taking partial size....need to get back to kyles hotkeys. 2. Adjusting Stops = Adjusted a few times, 2 of them ruined good trades. Lost potential 7R on these.(3.4 on 1 and 4R on the other) 3. Not using exit Strategy - Wasn't a good day for this, didn't have clear strategy was scalping. 4. Taking subpar setups - too many trades...trigger happy Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 8/10 2. Placing trades with defined risk, and profit targets (No adjusting) = 6/10 Edited May 21, 2020 by Valentin Share this post Link to post Share on other sites
Valentin 84 Posted May 22, 2020 Day 91 - May 21 , 2020 43 Tickets 3 Symbols Break Even (slightly green, but forced a trade to get there) Watchlist: RVOL at open ACB: 560% BA: 175% AZN: 170 / 1700? Trades BA (1) - Long - ORB (-1 Not in Playbook) Had 137 as a major level on BA, broke through in pre market then dropped and tested VWAP. Held and buyers bought it back up - took it long as soon as it broke pre market range, worked out nicely but I partialed like a noob, no exit strategy. Improvement: These quick opening drive plays arnt in my playbook so I partial way to quick as I'm scared to give back a winning trade. Do more review on these, as they provide some really nice moves BA (2) - Long - Technical Breakout/Breakout Pullback? (-1 Not In Playbook, not sure what I was going for here) Definition of chasing here, was going to wait for a tight consolidation for triangle play or a / pullback into VWAP but ended up getting FOMO as I though this thing could run, stopped out INSTANTLY. Improvement: BE PATIENT - ABC setup very nicely, and offered right risk of 140.1 off local high level and VWAP. BA (3) - Long - Asymmetrical Triangle Took BA Long as we approached VWAP and all MA's were pushing up into the APEX. Also just above a daily level I had 140.7 thinking we would break VWAP and push HOD - broke through VWAP on volume, but no follow through. BA (4) - Long - Ascending Triangle SPY didn’t look like it wanted to sell, seems like buyers kept pushing up. Took it on breakout of asymmetrical triangle. Slow grind it, took partial off as the wick down into MA scared me. Got close to next partial at 140.7 level but doped hard as SPY sold off on Jpowel "uncertainty" news. BA (5) - Long - Chasing (-1 Not in playbook) Not sure what setup, but I noticed a few hammers back to back, once again buying pressure was there on the 1 min. Tight stop, thinking we could retrace back to levels before Jpowel selloff. Took partial into spike, and then stopped out. ACB (1) - Short - Asymmetrical Triangle Looking for this to break, volume has been decreasing on 5min which isnt good but we broke 5min lows need to go throguh big bid at 16. Took small size and Didn’t have a exit plan really, but saw a big bid step into 16.3 so got out. ACB (2) - Descending triangle Waited a little longer for the pattern to play out, making higher lows and coincreasing selling pressure. Took it short in anticipation of 16 cracking. Broke down, tried to hold 15.74 PML weak bounce and took it short on next break of 1 min. Cover into extended drops. And again as we came back to the previous level. ACB (3) - Short - LOD Breakdown (-1 Not in Playbook) ACB continued to drop, took it as it broke LOD on volume. Thought we would have a stronger continuation, didn’t like that so covered in front of 15 whole level. Took the final partial off at break of trend and reclaim of 15.3 level. ACB (4) - Short - Failed Pop (-1 Not In Playbook, Chasing) ACB Popped up and failed to hold 15.74 daily level. Took it short after it rejected (Way too late). Stopped out on break back above. ACB (5) - Long - Breakout Pullback (-2 Not in Playbook, Adjusted Stop) Noticed that 15.74 level holding, and increasing buying volume with decreasing volume on pullbacks., Took it long on breakout from hammer. Stop below the level. Adjusted stop and then ended up consolidating for rally. ACB (6) - Short - Asymmetrical Triangle (Anticipation, no signals) This was one was revenge trading. No entry signal was just anticipating and hoping. MA coming down pushing it down, thinking we could see a big drop into close. As soon as I got in I got stopped out as it spiked up…. ACB (7) - Long - Breakout Scalp (-1 Not in playbook) PNL scalp….was just below breakeven and wanted to end up green, noticed a momentum scalp in ACB to break up towards HOD - took it for a quick scalp into level I had from premarket. Improvement: Worst reason to be taking trade…PnL…..was very evident I was trading PnL, if I was playing price action there was no reasno to get out, it was strong…missed a nice move AZN (1) - Long- Double Bottom (-1 Not in playbook Looking like its starting to turn and push its way higher, buying started to increase and selling dropped down.. Strong catalyst so could see this turn back. Took partial into PM-Level, stopped out on a quick turnaround. AZN (2) - Long - Double Bottom (-2 Not in playbook, Adjusted stop) Trying to catch a bottom, took this with tight risk just below 55 thinking we could retest 55.3+ for a 3R+ move. Fake breakdown, and bought back up I liked it, but then sold back down now I liked it on the short side as I thought it shold come up right away. AZN (3) - Short - Descending Triangle Took AZN Short on LOD breakdown at a descending triangle, worked quickly on high volume, came back up and retested previous breakdown so I added another lot. Faked me out and I covered. Todays Review Very disappointed in my trading. Started off with a nice new play im working on ORB - good entry but, poor trade management. And then went downhill from there. Few decent trades again, but they are ruined with my other 90% of sub par setups. Going back and forth back and forth. Also taking WAY to many setups not in my playbook - completely going against my goal of specializing. Was up majority of the day, and started leaking back profits on a few shitty plays. Was slightly in red to end day off and scalped to break even - not happy with this at all. The setup was there, but I was so worried about PnL that I was looking to force something and just get in and out. Cant keep blaming it on discipline…really need to hold myself accountable. Will work out a plan for this. Changes I am trying to make. 1. Inconsistent Trade Size = same old shit, deleting the manual entry box - just don't have the self control, I do the math and almost every time either put it in half thinking (ill add if it works out) and end up taking many more trades than needed. 2. Adjusting Stops = Took to small of size for it to matter if I adjusted or not... 3. Not using exit Strategy - Had a few good entries (BA, ACB, AZN LOD Break) but my exits were sub par, If I took normal share size I would have hit 2-3R on all, instead it ended up being 1Rs. 4. Taking subpar setups - Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 6/15 ****** 6 out of 15....this is unacceptable and unsustainable, either adjust your playbook or follow your rules. Going nowehere with this 2. Placing trades with defined risk, and profit targets (No adjusting) = 13/15 Share this post Link to post Share on other sites
Valentin 84 Posted May 23, 2020 Day 92 - May 22 , 2020 40 Tickets 6 Symbols Break Even Watchlist: Trades NCLH (1) - Long - ORB (-1 Not in playbook) Indecision candle which got baught back up then broke out, took it long on ORB of PH, took some off as it failed to run. Stopped out.Troubles with hotkeys - need to fix this. NCLH (2) - Short - Descending Triangle(-1 Adjusted Stop) Took it short on breakdown of previous level and PDC, partials into daily level. Adjusted stop above breakout level….original stop was 14.26 which would have kept me in it allowing to exit at the daily level again. Improvement: Need to come up with a plan for adjusting stops, this happens far to often - adjust stops and then get top tick before it reverses and my idea plays out. ROKU - Short - Technical Breakdown (Add on Descending Triangle, -1 Not In Playbook) Break of pre market low, selling was coming in but the price wouldn’t go down - sign of not to short HPE - Double Bottom (-1 Not In Playbook, secondary watch) Took it long after 9.10 held and then bid pushed higher. couple of hammers on the 5min thinking that was the bottom. 1/2 size. Took it long off the major level. ROST - Short - Descending Triangle Took it short in the tight consolidation, looked weak but didn't think we would break down. Adjusted stop, got taken out and then would have hit my target into 92.31 ACB (1) - Long - Asymmetrical Triangle Consolidating trying to find a direction with volume decreasing into the apex. Finally tried to make a push but ran into VWAP. Pulled back and then made its way to VWAP again - long with stop below lower trendline. Partials into previous levels and then again as it looked like we failed to break high and made a triple top. And again into high of day as it looked like it rejected. NCLH (3) - Long - Reversal (-1 Not in Playbook) NCLH looked like it carved out a bottom, with buying slowly coming back on the 1 min. Took it on break of minor consolidation (5 min hammer), adjusted stop as entry wasn’t great and took half off, original stop under low at 13.74. Held that level and bounced back up into 200MA on the 1, added as it looked ike it was ready to break out again. Stop into major level PDC, previous high, VWAP and final as it looked weak failing to breakout through VWAP. NCLH (4) - Long - Channel (-1 Not in Playbook) No setup here just thought we saw a fake breakdown with exhaustion volume hammer, watching CCL knock me out and rally. NCLH is the one with better catalyst - thinking it will follow. Kind of worrisome that it didn’t break out with CCL, but volume was dropping on the selling. Kept rejecting PDC and then broke down - covered as I didn’t like above resistance holding, and then out the rest on failed pop breakdown. ACB (2) - Short - Asymmetrical triangle (Bear Pennant) Took it short as it kept rejecting VWAP and looked like was breaking down into close and SPY was tanking. Failed to breakdown held previous low and popped through VWAP stopping me out NO MORE TRADING IN LAST 30Mins always giving up profits on subpar setups. CCL (1) - Long - Breakout Pullback (Sub: Lvl 2 - Held Bid, -1 Not in playbook) Held bit at 14.40/14.41 on volume. Took it long as we broke previous consolidation off hammer break. Came back down, fake breakdown through that level triggering stops and then rallied. CCL (2) - Short - Lvl 2 Bid Decreasing (-1 Not in Playbook) 14.41 holding, but decrementing after lots of volume - took it short in anticipation as the bids were getting smacked. Huge big underneath at 14.4 accumulating. Improvement: Don’t be anticipating, wait for this to break. Clearly a buyer there Todays Review Felt good to show a little patience finally let a few trades playout rather than pulling profits right away. This is very important as they considerably increase R/R and ive had problems with cutting winners to quickly. Still struggling a little with exit strategy but slowly getting there. Very disappointed in my ability to follow my own rules. 27% of todays trades were in my playbook (3/11). Showing 0 confidence in my playbook, research, review, stats and just going freestyle when market opens. This is unacceptable. This is also causing me to take too many trades - giving profits back toward end of day as im forcing way too much. Changes I am trying to make. 1. Inconsistent Trade Size = Better on this as I am using the hotkeys again this should increase consistency in my stats allowing me to dive deeper in problematic areas rather than being swayed by different risk per trade. 2. Adjusting Stops = Better job on adjusting stops, still need to focus on it though - notice 1 or 2 times a day I do it and usually get burnt. 3. Not using exit Strategy - Few scenarios where I didn't use my exit strategy. Taking profits too quickly showing lack of confidence in my setups. 4. Taking subpar setups - way too many executions. Need to focus more on stronger signals, read lvl 2 and validation through multiple signals. (Lvl 2, Volume, Market...) Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 3/11 ****** 27% of trades are trades I believe I have edge in...…1/4 trades are my trades.....completely ignoring my rules 2. Placing trades with defined risk, and profit targets (No adjusting) = 10/11 Share this post Link to post Share on other sites
Valentin 84 Posted May 27, 2020 Day 93 - May 26 , 2020 61 Tickets (keeps getting worse and worse...) 4 Symbols Green Day Goals for the day: A+ Setups, 1R every trade. 5-7 trades MAX. Watchlist: RVOL at open SRNE: 500% NVAX: 520% NCLH: 192% MRNA: 178% Trades SRNE (1) - Long - Technical Breakout (-1 not in playbook) Took SRNE long on the highs like an absolute noob. Got some good news, volume came in heavy looking for 6.5. Stopped out. SRNE (2) - Long - Breakout Pullback (-1 not in playbook) SRNE came back down, and was hitting 6 offer repeatedly, finally looked like it was decrementing and hit it long. Stopped out as 6 offer held, and dropped consolidation at the open. SRNE (3) - Short - Failed Pop (-1 not in playbook) SRNE continued to sell off, was looking for a pop into VWAP but didn’t get the ABCD setup, short as seller stepping down. Cover into the double bottom as it didn’t seem like it had more power. SRNE (4) - Long - Asymmetrical Triangle Took it as it broke out of triangle on volume and then confirmed on 3 bar play, took it a little extended but this thing can run with decent short float. Adjusted as it couldn’t get through 5.5 and selling started coming in. NCLH (1) - Long - ORB (off Asymmetrical Triangle, -1 Adjusted Stop) Took NCLH long as it was showing strength consolidating just below PMH, and broke out on strong volume. Partiailed way to quick, then took partials off into 16 and as it broke MA on way down. NCLH (2) - Short - VWAP Break and go Was looking for ABCD long on this, but SPY looked like rolling over, and reject off VWAP - ended up taking it short below PMH level. Ended up getting in to early - need to wait for this to come back up, then re-short . Did not follow fame plan - took it too early there was no 2nd break. Improvement: Wait for this to show weakness below the PMH - took it as it wicked down - just collection stops here. NCLH (3) - Long - Ascending Triangle (-1 Adjusted Stop) NCLH held PMH and consolidating at top of next range. Ended up taking it long as it looked like Ascending triangle was breaking out. In too early and almost got stopped out just below VWAP. Had a few chances to add on confirmation but didn’t. Partial into previous level Infront of 16, was waiting for next level at 16.25. Adjusted stop and got stopped out. Improvement: Need to have a better exit strategy, adjusted stop and got stopped out. Then it went to HOD again. NCLH (4) - Long - Ascending Triangle (-1 Adjusted Stop) NCLH Coming up to previous resistance at 16, consolidating above and below. Long time game ascending triangle and took is as range started tightening up on 1min. Partialied out as it dropped too quick - then stopped out. Tried it again, this time it broke 16.02 which was resistance in pas, but stopped me out on bottom tick. Improvement: I was neither here nor there….kind of anticipating by trying to catch before the breakout, but also not great anticipation as I was getting it RIGHT at the top…should be more patient here especially as 16 is a major level, and rejected there in past. UAL - Long - Ascending Triangle Cruise and airlines were strong, UAL showing relative strength, with consistent buying. Took it long in anticipation of breakout. Partial into pop, then panic covered another partial as SPY looked weak. Left the rest to run - took some off ino extended move into 29 whole level. Left final partial on, until we saw heavy selling come in, and a new 5min low. Confirmed. Improvement: No need to be taking off the 2nd partial - no signal of reversing. Opportunity: Should be adding, I have looked into this on a lot of my triangles and it usually comes back to test 1/2. Perfect level to be adding at - Hammers on the 5, and holding VWAP and MA.s MRNA (1) - Short - Technical Breakdown (-1 not in playbook, poor emotional control) Saw the descending triangle but didn’t have conviction in it until it got tight to apex. Tried to get short as it broke down - DAS risk set to 3 symbols max at a time so didn’t let me get short. Thought this was a great opportunity so I scrambled to find a play to get out off - panic covered SRNE…got out and by the time I was entering, it was consolidating - knew I was chasing but FOMO'd hard as I already went through process of exiting another trade…….this is VERY BAD. DO NOT DO THIS AGAIN. MRNA (2) - Short - VWAP Rejection (-1 not in playbook) MRNA coming into VWAP and rejected for a double top, short thinking this was the backside. Added into it as the 62.7 bid was decrementing quick. Took the momentum lot off. Now at initial stop. Add another on failed pop - covered quick as I wanted it to work right away. Add another on break of flag - SPY broke through LOD - selling pressure higher than buying pressure on MRNA - look for LOD test. Partialied out. MRNA (3) - Short - Descending Triangle with Failed Pop adds Overall bearish on this name, thinking we would break LOD. Tried a few failed pops, covering into drops and re-shorting as we failed at the top. Then as we got near APEX I thought selling was increasing and thought sell of was coming. Tight stops with good size, but got hunted both times. Waited for confirmation. Finally started breaking down, took it on heavy volume as it broke 60.50 bid at LOD - cover partial on quick drop trading around core, and added another tier as rejected LOD. Cover into Previous low, and on extended moves down. Tried a free roll add on my final 10% of shares on bear wedge e at lows - stopped out. Good: Had the right idea here, happy that I stuck with it and hammered it hard on the drop. Risk management was excellent. Improvement: No need to be covering into the top of trendline - this is a panic cover. Good that I realized my mistake and put risk back on. Todays Review Morning started off shaky - was there early to get all the research done but got sidetracked with SRNE in pre-market and took time away from diving deep into a few others....got levels set but just wasn’t set on an idea,conviction wasn’t there…instead ended up chasing SRNE before the open 2x….not a good start. After that I calmed down and got into a few of my plays that I was comfortable with (Playbook). Noticed I was having too many thoughts, wanted to do too much at once....as a rookie trader I should be focusing deeply on 1-2 stocks and trying to pick a good setup, vs thinking im a pro and trading 3-4 ideas at once - spread out to thin, and it showed on a few plays. Overtrading and just racking up my commission. At my tier I need to be much more selective, and hit the plays when they are there rather than trying to force (MRNA at the end - back to back stop outs, then finally hit it - could have avoided, and just waited for confirmation) 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) = 8/11 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Share this post Link to post Share on other sites
Valentin 84 Posted May 28, 2020 (edited) Day 94 - May 27 , 2020 28 Tickets 3 Symbols Green Day Watchlist: RVOL at open MRNA: 425% UAL: 260% MRSN: 2700% STNE: 842% WFC: 163% (Secondary) Trades WFC (1) - Long - ABCD Strong off the open, and pulled back into VWAP - bouncing off 278.9 which was PMH. Long as it held that level, stop just below. Took half off as I didn’t like all the selling, then stopped out on other half. UAL (1) - Short - ABCD Airlines over extended all up double digits…UAL had strong selling volume on open, breaking through pre market support levels, tried to bounce - didn’t quite make it to VWAP but ended taking it on the shooting star DOJI into PM support and big bid at 31.57 - expecting to break as SPY looked like it was turning back over. Got out to early….didn't follow exit rules, first partial into previous level - fine, second and this panic partials, final partial was into PDH as 30 dropped the bid and looked like re-bid. Good: Good job playing the levels, Improvement: Didn’t follow my exit rules - out WAY too early….. MRNA (1) - Short - Level 2 (Bids Decrementing, -1 Not in Playbook) MRNA weak over last couple days, tried to reclaim VWAP but rejected and sold off to LOD - broke LOD retested, then came back down into the big bid at 49 (LOD). Bids were getting hit hard with velocity and decrementing quick, took it in front of the bids dropping - covered quick, and again on extended move. Adjusted stop above big offer at 47.69 as protection, stopped out. Good: Good read on bids decrementing with velocity coming in on the T&S Improvement: Follow your game plan……get out at 2R, 3R and then 4R/Reason to Exit, which could have been 1min hammer making new 1 min high. MRNA (2) - Long - Ascending Triangle Hovering around the 49.6 level which was major level acting as support/resistance before. Took it long as soon as Bid got above the breakout point - noticed lots of selling though. SPY trying to push, and buyers are continuing to step up even after getting knocked down. A little bit of FOMO - had the thought of breakout, come back to retest at support . Improvement: Had the idea of waiting to let it come back and retest as this is a major level, and should come back and hold. Did not follow my own plan, got in early, they shook out the weak hands, and then rallied. MRNA (3)- Short - Fresh News (-1 Not in Playbook) MRNA news broke that patients got higher fever. Couldn’t find the news, but chatroom mentioned it was announced on Squawk….short on breakdown, stopped out. Improvement: Shouldn’t be taking this, didn’t knew the news source, wasn’t one of my setups - let it be until it sets up and you have an edge. UAL (2) - Short - Failed breakout on Ascending Triangle Was watching airlines as they were putting in tight consolidation, Ual was trying to breakout but couldn’t. MA coming down adding additional pressure. Ended up breaking through down trend so I took it short as it rejected of VWAP and MA's and made lower low. Covered half as I didn’t like price action, and then again as it did nothing for over an hour. UAL (3) - Long - Asymmetrical triangle. UAL started to move on volume - realized it a little late and knew I was late but consolidated for so long that the expectation was for a larger move. Took it with a wide stop, so R/R wasn’t great here. Improvement: Need to take this as its breaking out to catch the move. This is your setup, had A+ criteria, Vol breakout, VPoC at APEC, Tight MA's. WFC (2)- Long - Level 2 (Limit player lifted at .72 and .75, -1 Not in Playbook) Browsing through charts and saw there was a clear limit player on Lvl 2 at .72-.75, hit over and over again, finally broke through .72 level and up to .75 big offer. 27.75 was decrementing quick, and were also stacking up so I took it long risking break of 27.7. Ended up working, sold partials as we moved up. Todays Review Need to have more confidence in my plays. Slowly coming together as I notice I am seeing plays, and they are working out……but my emotion gets in front of my logic at times…..MRNA breakout, wrote in notes to wait for breakout, then to come back and retest for an entry….got FOMO and jumped the gun as offers lifted and buyers stepped up, shaken out and then did exactly as I thought. Overall feeling good about my progress, although slow it is nice to take a step forward. Now need to keep hammering away and reviewing in order to continue stepping forward. 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 Edited May 28, 2020 by Valentin Share this post Link to post Share on other sites
Valentin 84 Posted May 29, 2020 Day 95 - May 28 , 2020 37 Tickets 7 Symbols Green Day (forced - was red until the very end, caught a nice move on BA and then forced a LOD breakdown to bring myself into the green and keep streak going...) Watchlist RVOL at open TWTR: 290% TGI: 1000% DLTR: 936% Trades TGI - Long - Asymmetrical Triangle TGI hot in Premarket, but put in consolidation at the open, with a tightening range. Took it as it broke out from APEX thinking we could test HOD. Took half off as it looked like it was rolling over, and the rest at stop loss. UAL - Long - Asymmetrical Triangle (-1 Adjusted Stop) Wasn’t on main watchlist, but was a slow morning. Scoping through secondary watchlist found UAL setting up for potential pop hovering above VWAP and MA's. Took it as it broke from previous pivot high expecting a push up to PMH/PDC. Didn’t work so I took some off. Forgot to adjust stop loss, and ended up flipping position as I sold too much - covered on drop (lucky mistake ended up making back some losses). Improvement: Not a clear asymmetrical triangle, also took it premature 0 for asymmetrical better to take it once confirmed. WFC - Short - Descending Triangle WFC selling off with volume validation, 27.36 and 27.35 bids getting hid hard. Took it as 27.35 dropped, but there's a huge order around the LOD range. Was thinking if it drops could see a nice flush. Didn’t get it, ended up waiting it out, and covering into the 2 test of previous low, and final stop for breakeven. Good: Good setup, should be taking shit every time. MU - Long - Ascending Triangle (-1 Adjusted Stop) MY pushing up against a limit player just below 48 level - Was going to wait for it to breakout from 47.93 resistance, but QQQs were pushing up so I took it on a pullback into support. Added a momentum lot as we broke out 3bar play, covered the moment lot quickly. Stopped out around Breakeven on initial lot. Improvement: Once again adjustment hurt me here - Adjusted stop, knocked out and then went up to my T1 at 48.18. TWTR (1) - VWAP Break N Go (Sub: Asymmetrical Triangle Breakdown continuation) Watching TWTR for some news from Trump - missed the nice push in the AM, then consolidated for most of the morning. Finally broke down from asymmetrical triangle. Missed the initial drop, took it on VWAP break and go (late) and covered first partial into 200MA on the 1 in front of the 32 daily level. Stopped out on the rest TWTR (2)- Short - Failed Pop (-1 Not in Playbook, -1 Adjusted Stop) Missed the drop off VWAP -on heavy volume, took it as it dropped through 32 - wanted to get a test and break down, but ended up FOMO and shorted the 3 bar play… Improvement: Absolute rookie play - just throwing my money away at this point. VERY extended need to wait for consolidation, Brutal trading..FOMO shorting the bottoms vs waiting for my setups to come to me. MRNA - Short - Failed Pop (Sub: Descending Triangle Breakdown - missed it) Missed the drop through VWAP for the APEX, ended up taking the failed pop short. Covered into support level, and then adjusted my cover as MRNA broke out and confirmed by SPY pop. BA - Short - Descending Triangle, add Failed pop and LOD breakdown (Anticipation) BA looking weak on longer intraday time frame, building a base just above 153, took it short as we were nearing APEX thinking it would break. Got stopped out as they collected stops above previous high. Idea was to add once 153 breaks - came down to 153 and flew through it so I got short stop above previous 5 min bar (breakout point). Covered partial into LOD and then again as it looked like a potential double bottom off exhaustion volume - leaving final partial on. Added to position as we rejected 50MA on failed pop, taking partials on drops. Then final short was a LOD breakdown as SPY was absolutely dumping and cover into PDC. Good: Good job staying with this one, got top ticked on the stop out, but continued with the trade. Improvement: Final trade was a little force - LOD breakdown, not in my playbook - was just below -0.5R and took it short trying to get in the green…worked but very bad habit. Todays Review Was a pretty sloppy day…not much follow through on my plays, but once reviewing I took very mediocre setups which is all on me…. Risk management was good, and took mostly playbook setups (although poor playbook setups). One thing I am not happy about is forming bad habits. Had a great trade on BA short on Descending triangle, with failed pop add. Then at the very end I shorted LOD breakdown which for me hasn’t been very profitable but forced it as I wanted to get back into the green to keep my green streak alive. Have been able to pull a decent green streak together, although profits havnt been great - but this atleast shows I am finally able to pull togther a few good trades to cover my losses - NEXT STEP is to hit them with size, and increase the R/R by having confidence to hold. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 7/8 2. Placing trades with defined risk, and profit targets (No adjusting) = 5/8 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Share this post Link to post Share on other sites
Valentin 84 Posted May 30, 2020 (edited) Day 96 - May 29 , 2020 55 Tickets 10 Symbols Red Day Watchlist (Did not do) RVOL at open (Did not do) Trades PHIO - Long - ORB (-2 Adjusted Stop, Not in Playbook) PHIO tried to sell off at open - got bought up too it long as it broke out. Terrible entry, so I took it off as it went against me. Then spiked up. Improvement: Still new to this play, need to wait for 1 mint to close or make a CLEAR reversal off support/resistance. TWTR (1) - Short - Technical Breakdown (-1 Not in Playbook) TWTR weak off Open, missed the perfect ABCD entry - ended up shorting when it was super extended. Stopped out. Shorted again as we broke LOD and covered into drops. Then tried to short again as we were looking to test previous low, stopped out. Improvement: Shorting into the lows vs having a nice and defined risk - poor trading. TWTR (2) - Short - VWAP Break and Go (3Bar play on 5 min) Delayed entry once again here - TWTR started selling off with volume increasing and broke through VWAP and made its second way through which is when I would have entered on this setup. Got in a little late causing stop to be wide - didn’t partial as R/R was bad. Improvement: Late entry, poor R/R, not following entry criteria. TWTR (3) - Long - Ascending Triangle TWTR coming up to consolidation around that 31.10 level. TWTR doesn’t move must usually and is close to lots of resistance…forcing it here trying to make some GP back into end of day. UAL (1) - Long - Asymmetrical Triangle UAL strong off open, was looking for ABCD back into VWAP but didn’t pull back. Instead made Bull wedge and took it of the breakout out of that. Rejected previous high and made its way down stopped out at VWAP break. UAL (2) - Short - Descending Triangle (-1 Adjusted Stop) UAL coming down to VWAP and 28 level for 5th time, took it as it broke down. Had a rough day trading and trade management was terrible - covered half as it looked like it wasn’t working out, then covered into moves back up - once again wasn’t thinking straight. Good: Validation from VWAP, Defined level for base (28, multiple touches), Below VPoC, volume on the break. Improvement: Terrible trade management, puked the trade into Breakdown level (stats show this is an area to add) then again on market orders as I was getting scared it was reversing…. ZS - Long - Ascending triangle (Add on technical Breakout and Breakout Pullback, -1 Adjusted Stop) ZS showing strength coming into apex at 93, took it in anticipation of breakout. Covered into 94, then 94 was getting lifted on heavy size so I added a momentum lot, chasing he top. Got stopped out as it rejected and came back. Took another add on a breakout pullback, couldn’t break above 95 with limit playing showing and holding the offer so I got out on drop and stopped out on final (over sold, so had to buy some back). Final play was Ascending triangle on breakout, covered into pop and then adjusted stop and got stopped out. Good: Idea was right on both clear ascending triangles. Validation with Volume as well as VPoC. Improvement: Trade management killed this trade, Tried to do way too much freestyle, rather than sticking to my plan. Ideal Trade: Firs entry was great, take partial off into the pop. Add more into the breakout pullback. Then add again into the Ascending triangle. Covered into pops, and hold partial for all day runner/reason to sell. MRNA - Short - Asymmetrical Triangle (anticipation, Forgot to screenshot from DAS) Took MRNA in anticipation of the triangle breaking. Caught it on the tick up, not great. SPY turning over here as well, stopped out. Improvement: Asymmetrical triangles it is better to wait for the break as they can go in either direction. Ended up being a great short entry - break through triangle, VWAP Break N Go on the retest. BA (1) - Short - Descending Triangle Chasing the short on BA - wasn’t watching level 2, but noticed it got below the 145 level and hit it short. Should have waited for the top of the trend line as I got close to getting stopped out. Broke down, and make a perfect retracement back to breakout level. Ended up covering into the pop good cover. But second and 3rd covered were a big of panic, didn’t want to lose profits. Good: Identifying the overall weakness in BA. Improvement: Could have gotten a much more defined risk entry - clloser to 12:00, minor failed pop into Apex, with vole increasing, and then adding again as it rejects on a doji. Ideal Trade: Wait for Apex to really tighten up, and short as we are just about to break - add as we retrace back and fail to break above the breakdown level. Cover into 1st pop, cover into 12:30 volume drop, and again on the Hammer doji right before the pop. BA (2) - Short - Descending Triangle BA looking weak after SPY made the push on Trumps speech. Coming back down and testing same level multiple times. Took it in anticipation of breakdown. Covered into drop and consolidation above PoC thinking we might see support here. BIG (1) - Long - Ascending triangle (called out in chatroom) Formed a nice triangle into 39 resistance touching to the penny over and over, was looking to get in right before breakout but it took iff without me - FOMO, chased it buying the top. I am usually much better of buying in anticipation as I see buying offers getting lifted, or decrementing quick - but instead I got the top - clear selling pressure was keeping it from going up - covered as I realized I was a bit late, and stopped out on the rest. Improvement: Need to be using mush more validation here - getting in as 39 is breaking with clear lvl 2 signal, rather than just buying the breakout. Paid for it here. BIG (2) - Long - Asymmetrical Triangle BIG had some volume coming into previous high resistance but was holding above POC - ended up taking it long thinking we could make a run to HOD+. Had a minor break out of Asymmetrical triangle but couldn’t get above previous high - then absolutely tanked - think there was a misprint on the wick as my physical stop got taken out the minute after. OXY - Short -Technical Breakdown (called out in chatroom, -1 Adjusted Stop, -1 Not in Playbook) Saw the 12.9 bid with HUGE Size getting hit over and over, finally broke through on heavy volume. Didn’t take it as the size seemed too big to break through...then came down to 12.75 which has been a major support low over last couple of months (low). Took it short as the 12.75 bid was decrementing. Failed breakout, took partial off, and then put it back on with a more defined stop - stopped out on both. Improvement: Broke many rules here, shorting a stock not on my watchlist. Shorting the LOD and multi week low (major support), adjusting stop, and then after all that ADDING into my short on a losing trade….this is a loss I deserve. Poor control and ability to stick to game plan - this is not in my game plan AT ALL. ADAP - Long - Technical Breakout (-1 Not in Playbook) Panicked on this one and got in FOMO…bought the top, stopped out at the bottom. SPY - Long - Technical Breakout (Revenge, -1 Not in Playbook) SPY moving up into the close at HOD - consolidating near highs, took a long with super tight stop….bad trading, no setup, just wanted to make some profits back…brutal. Todays Review One of my worst trading days. Was doing so well last few weeks, controlling my plays, taking setups that made sense, sticking to my watch list for the most part….then today just threw all those away, trading 10 symbols - wtf? 55 tickets - wtf? Taking trades that I have never taken before…adjusting stops over and over, taking plays called out in Chat when they aren't even on my watchlist - wtf? Worst of all was my trade management. Ruined a couple of great trades, ZS was a LAY UP of a trade. Beautiful breakouts, trending the whole day with minor pullbacks for potential add. Instead I got in as usual, but then added in random spots, cover into all the pullbacks…..embarrassing. Goal is to limit these days. I have also been going in with SUPER small size….which is having a weird impact on my psyche - "ill take this trade, it’s a small loss anyway". This is bad, and must stop now. How I will combat this for next week, and moving forward: 1R risk is sized up (counterintuitive, but this will force me to make a max of 4 losses in a day) Getting rid of my secondary watchlist - need to dial into my 3 stocks and watch level 2 as that has worked the best. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 10/15 2. Placing trades with defined risk, and profit targets (No adjusting) = 11/15 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Edited May 30, 2020 by Valentin Share this post Link to post Share on other sites
Valentin 84 Posted June 2, 2020 (edited) Day 97 - June 1, 2020 25 Tickets 6 Symbols Red Day Watchlist Trades AAL (x4) - Short - Forcing (Descending Triangle, Breakdown, Double top?, -3 Not in Playbook) Not sure what to call this…Christmas tree trading at its worst…Took it in premarket as it was hitting 10.7 repeatedly and looked like bid was getting eaten, thinking we could break through. Didn’t like the way it was trading so covered. At the open it sold off hard, took it on the break of 10.7 on volume - bottom tick and then stopped out above VWAP. Made a huge top wick so thought we would sell off, short as it broke down below shooting star doji tried it again. And again as it looked like it made a doble top. Improvement: Should not have taken any of these trades, maybe the 1st one on descending triangle - but not pre-market, I am not good in premarket. FORCING hard, not once, not twice, not three times but 4 times. Need to have a rule where I try 2x and I'm out if I cant get it. CRWD - Long - Ascending Triangle (-1 Adjusted Stop) Took it as it broke above 94 level, and Bids held above. SPY looks like it could be holding 304 level. Came back to retest - was thinking to add, but didn’t like my initial entry, if I got in before the breakout, this would be ideal place to add. Adjusted stop 2 times and got close to bottom ticking - clearly an emotional reaction rather than rational. Improvement: Really need to think about why it is I am adjusting stop - I am using risk auto hotkey, a loss wont hurt me. Trust your system. ZNGA - Short- Descending Triangle-ish Took it in anticipation of 9.36/9.37 breakdown down on minor triangle, Volume was validating for potential sell off to LOD. Tok too wide of a stop which forced me to require a large move. Worked out initially but then turned around hard to stop me out. Improvement: This was a very poor triangle - needs to be more defined. PFE - Short - Descending triangle Short PFE as it broke through big bids at 35.16 and 35.15, bid was decrementing quick so got in. Broke down and worked right away. Stop was too wire for me to take partial. Pulled into MA's and looked like it was turning back over so added some more risk. Came up to breakout point, as it usually does - PERFECT place to add. Took some off at previous level, and again as we hit a potential double bottom. And then took final off adjusting to previous high Improvement: Add was a little early, could have waited for confirmation and rejection off that previous level. CGC - Short - Descending Triangle CGC at mirror level - 16.5, holding to the penny through the day - took it short as it broke through, was looking to get ahead of it, thinking bids would support a little more but it broke right through and I got filled bottom tick. Had the idea in my head to let it fall through, then catch it on the retest. Big drop then minor volume on the push back up. Not a good sign, 15:27 - bids looking like they are stepping up - did exactly that and stopped me out . Improvement: VERY POORLY PLAYED. Need to be patient. Got faked out, and got in too early on the descending triangle, and exit right at the top of trendline. SNAP - Long - Ascending Triangle (-1 Adjusted Stop) Had the right idea, but after my sloppy trading I didn’t have the confidence. Took it as it CONFIRMED the breakout and held which got me a bad fill, vc buying as 19.5 level got lifted. Then ended up with hotkey error and covered right away. Left my initial position on. Panic covered half, left half on and covered into previous high. Improvement: Need to be more confident, volume was telling me this was breaking out, Level 2 was strong…just pull the trigger after that shakeout. Trade Review Clearly wasn't ready for the AM - got there early, but once again got distracted with a pre-market play - NO MORE PRE MARKET. (DAS time restriction set) Really focusing on limiting the plays, which is good. But because of this I missed a lot of good opportunities, which ended up working out and I got stuck in the ones that didn’t. Only reason this frustrates me is it shows I don’t have clear cut entry criteria (I do-ish, but don’t follow) Bad day overall, a lot of the plays were WAITING and letting the play happen, and then getting in CHASING. I think this was due to trying to be selective. Couple of the plays were absolute beginner trades. AAL off the open, and CGC - selling the support, and covering into resistance. Review, review, review. Things I did well: Position Sizing - auto hot key Things I need to Improve: Patience, wait for A+ Setup not just a setup, adjusting stop, hesitating to get in, Stops too wide - If buying the ascending breakout, need to be below previous pivot Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 6/9 2. Placing trades with defined risk, and profit targets (No adjusting) = 7/9 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Edited June 2, 2020 by Valentin Share this post Link to post Share on other sites
Valentin 84 Posted June 3, 2020 Day 98, June 22020 29 Tickets 5 Symbols Red Day Goals for the day: ONE GOOD TRADE, that’s all you need. Focus on 1 good ORB, 1 good ABCD, 1 good triangle. Watchlist: Trades WORK (1)- Long - Support Bounce? (-1 Not in Playbook) WORK strong in PM, coming back down to PM support at 38.3. Dropped down, and found support at 38 and looked like buyers stepping up so I bought as bids pushed back above 38.3 support. Stopped out with slippage below 38 level. Improvement: Did not use my hotkey, took on more risk than I was supposed to. Also did not wait for a clear sign - trying to catch a falling knife, dangerous game which hasn’t paid off for me….. WORK (2) - Ascending Triangle / Asymmetrical Triangle ish (-1 Adjusted Stop) WORK setting up for a Ascending triangle above VWAP and VPoC - strong signal. Took it a little early, with a super wide stop, thinking I wouldn’t get stopped. Ended up adjusting as I didn’t like the drop. Was going to wait for the breakout but heard it called out in chat and got too excited as it confirmed my bias so I entered early. Improvement: Wait for my setup, don’t get FOMO just because someone else is getting into it. PATIENCE NCLH - Long - Double Bottom Took NCLH as it looked like it made a double bottom off PML, looked like 17.6 level dropped and reclaimed for a fake breakdown and looking to rally. Ended up getting stopped out next candle.. Idea was to put stop below wick low under 17.5 but that would have been too wire. Improvement: Not my setup - not a clear double bottom, should not be taking this. MGI - Descending Triangle (-1 Adjusted Stop) Took it on the rejection off trendline. Will cover into 3.31 which is intraday support/baseline. Was looking at WU they were both going down, thinkin we could see a break as soon as that limit player at 3.31 is taken out. Improvement: Took it in anticipation, and too far from the APEX. Also not sure why I was giving it just a wide stop, I adjusted it cut the loser a little quicker - initial stop was few cents higher - way too far. PFE (1, 2)- Long - Ascending Triangle PFE looking strong, market was turning over but PFE showing relative strength - pushing up to highs and kept getting bought on every selling attempt. Gto in as we approached Apex, stopped out on the shakeout. Tried it again as it continued to push up with MA's coming into the APEX - dropped on shakeout, but I had wider stop - partial as it looked like 36 wasn’t going to make it. Then added that same size as 36 held and broke out and got stopped out below 35.9 support DKS - Short - Descending Triangle DKS has bounced off PDC couple of times, also the 20)MA on the 5min, which has now turned and acting as resistance. Took it short as we broke down looking to retest LOD with 36.5 acting as resistance with some solid size on the offer. Ended up catching bottom tick and getting supported. Stopped out - not sure why I adjusted stop here….. WORK (3) - Long - Breakout Pullback (Mirror Level, -1 Not in Playbook) Took it long in anticipation of PDC (mirror level) break as volume was picking up on the buying side. . Lots of resistance above, 200MA on 5, PDH and VWAP - if it breaks could be a nice runner. Good: Trying out strategies that I have noticed in past off specific levels on small size I can like Improvement: Need to be careful taking this into this much resistance. PFE (3) - Long - Ascending Triangle / breakout pullback. Not the best ascending triangle, but had 3 wick touches, and had nice spikes after each out - thinking we could see the same thing. Loss is loss of 36 level. SPY also moving up recovered off the big drop. Ended up consolidation and taking me out before moving higher into the close. WORK (4) - Long - Ascending Triangle Took it long as it has been strong into the 38.13 level. Thinking we would breakout. Volume validation with increasing buying. But SPY took a huge dump - holding it back a bit, relative strengh though. Had a nice shakeout candle on high volume - sign of buyers stepping up, that would be the ideal entry right after that.. Wanted to add to it, but the Qs looked like they rejected from High. Broke out to the 38.3 level which ended up being a huge rejection - partial into it. Consolidated for a bit, didn’t take any more off on next break of 38.30 level thinking we would push to 39. Sold as we had a few bearish dojis, and then sold into next 38.30 push, final sell was into EOD - didn’t have confidence to hold….hits my target at PMH at 39.5…… Good: Noticed strength on Lvl 2, lots of selling but buyers kept buying and buying. Todays Review Notice I'm having troubles at the open - jumping in and starting off red off of plays that aren't in my playbook. So I sized up this week, and have been taking losses after losses, seems like I just can't pick a winner. I am still seeing decent setups, but just not taking them because of increase size. Taking positions and PnL off my screen so I don’t look at that as It must have an impact subconsciously. Things I did well: Let the winner ride (work), taking risk adjusted positions. Things I need to improve: Being more composed at the open, not jumping in the first thing I see - let discovery play out, then hit your plays. ABCD then Triangles. Level 2 validation. Stick to the stocks you are watching (MGI - could have avoided a loss) Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 6/9 2. Placing trades with defined risk, and profit targets (No adjusting) = 6/9 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Share this post Link to post Share on other sites
Valentin 84 Posted June 4, 2020 Day 99 - June 3, 2020 41 Tickets 7 Symbols Red Day Watchlist Trades CRWD (1) - Descending Triangle (Break from trendline, (-1 Not in Playbook) Took CRWD as it broke throug downtrend, broke above VVWAP, tested VWAP on quick drop but got bought back up and broke previous candle high. Sold into Pop and into PMH. Stopped out below VWAP on original stop. CRWD (2) - Short - Failed Pop (-1 Not in Playbook) Short CRWD after huge sellof, and inability to break back above PML. Was looking to hold this, but for some reason got stopped out when I went to enter a trade on MU. (Use the same montage but change symbols - this has happened multiple times, need to figure out whats going on here). Went to cover partial as I didn’t like price action and realized I was already stopped out for some reason so took the mistake order off by covering. CRWD (3) - Long - Double Bottom (-1 Not in Playbook, -1 Adjusted Stop) CRWD looked like it set a double bottom holding previous day high. Looking for Retest of VWAP + HOD. Didn’t like the heard rejection and reversal candle on the push up so I covered partial. Let the rest ride - out into VWAP. And then again at Breakeven. Improvement: Need to stop adjusting stops, panic while managing trades…. MU - Short -Technical breakdown (Stock operator called it out) MU Weak into LOD, broke through 47.55 and then the bid at 47.5 was getting hit hard so took it short in front of that thinking we could see a drop. Bid dropped and reclaimed, stopped me out above previous high. SPCE - Short - Descending Triangle (secondary watchlist, anticipation) Limit player at 15.45 to the penny, thinking we could break it took a short as bid looked like it was decrementing. Clearly size was too big buyer stepped up, stopped me out and off to the races from there. LYFT (1) - Long - Ascending Triangle Broke through, took a small amount of shares as it had major volume and held. Will add once we retest 35. Shakeout and rally? Improvement: Was looking to take it before breakout as it was showing strength over and over again holding into APEX, but confidence was weak as last couple days have been losers after losers. LYFT (2) - Short - Double Top (Reversal, -1 Not in Playboo) Was long LYFT but started looking toppy with a couple of shooting star dojis getting put in into the gap close of 35.5ish. Took it on the 1min breakdown on rejection and worked out instantly. Covered into major drop and then again as itr looked like 35.10 was holding. Final partial as it looked like a failed breakdown and hammers on the 5min at VWAP. WMG - Long - Asymmetrical Triangle and Ascending Triangle Took it long as we broke asymmetrical triangle on buying strength. Took partials way to quick…..left partial to ride, and then came up against 30 hitting it over and over, finally looked like the offer was decrementing so I took it long to get back to full size - shakeout came and I stopped out. Realized it was a shakeout and was hesitant to get in on the next test of 30…ended up breaking and I got in once it broke. Partial into original target and then break of 30 level. Improvement: Got long as I noticed strength, but didn’t wait for the shakeout before adding - be patient, especially as your in the profit, and have 25% left - ended up taking a loss on this due to VERY BAD trade management. LYFT (3) - Long - Ascending Triangle Got out of my short, and it came up to 35 which has been a major intraday level. Pushing up against it and then had a shakeout candle, Got bought back up so I took it long thinking we could break back up to HOD., stopped out below the shakeout candle. Improvement: Ignored the volume - selling volume coming in. With such a strong resistance, better to hold off and let it confirm. DAL - Long - Ascending Triangle Took DAL long into HOD breakout on the ascending triangle. Not a great setup pushing into end of day, not much time left and lots of selling volume coming in - forcing it. BA - Long - Ascending Triangle Same thing as DAL - was forcing trades….BA strong all day, thinking we could break HOD and rally into the close in order to win back some losses…chasing. CRWD -Short - Descending Triangle Scalp Continuing my over trading, noticed weakness in CRWD, short in anticipation of breaking through previous low and covered into the close on drops. Not a trade I should be making. Todays review Hesitancy due to poor trading lately….and trade management is killing me, few great trades but the way I manage them is emotional, FOMO. Once again got into some sort of phase at the close and ended up chasing multiple stocks - tends to happen at the open and the close. Might be better for me to close trading first 15 and last 30…..never seems to benefit me. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 7/12 2. Placing trades with defined risk, and profit targets (No adjusting) = 11/12 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Share this post Link to post Share on other sites
Valentin 84 Posted June 5, 2020 Day 100 - June 4, 2020 14 Tickets 3 Symbols Green Day Personal: Went to bed late, didn't get enough sleep so decided to skip open as I was running on 5 hours. Slept in, got around 7hours, felt good after that. MU (1) - Long - Technical Breakout (-1 Not in Playbook) Didn’t do AM research…came in late and first 2 mins I took a trade on MU breakout…wtf? Took it chasing the breakout poor R/R, exactly the same thing that happen at 10:43 - fake breakout and engulfing, stopped me out shortly. Improvement: BE PATIENT, don’t jump into the first thing you see. WORK - Short - Failed Pop (-1 Not in Playbook) Broke LOD and bounce off a line I had from few days ago - weak buying volume, and then doji and rejection, short on break of the next candle. Cover into LOD breaks. Not my setup, and have been trading poorly lately so cover quick to build back confidence. Stopped out at B/E for final partial. MU (2) - Short - Descending Triangle MU looking weak trying to break through 50.50-50.55 but bids were supporting it over and over. Took a started position short as it had a bear doji looking like it reversed off the top trend line. Stop out as it broke above. Improvement: "Don’t ever assume a stock is going drop just because it looks weak", level was strong kept holding. DAL - Long -Technical Breakout (-1 Not in Playbook) Airlines just ripping..AAL leading up 35%+, took DAL Long as it has nice buying volume on the 5min validating strength and coming into HOD - stop at 31.94 below previous pivot - 1c away from stop (usually get stopped). Realized this was just a FOMO chase but could still be explosive, so took Small size. Ended up adding to it as making hammers and looking to breakout again as AAL isn't holding back at all. Lots of resistance at 32.5 level took it as we broke above. Indecision doji with exhaustion volume on the 1min was a clear sign to get out - but left rest on until breakeven. Todays review Today I had much higher patience than lately (more sleep, less time at the screen). Will be experimenting with this, trying to get minimum 7hours and cutting out trading mid day as I seem to exhaust my decision making, and end up making TERRIBLE decision or unable to control myself from entering trades. Daily Report Card 1.Playbook Setups Only (ABCD, VWAP Break N Go, Triangles looking to add 1-2 more) = 3/4 2. Placing trades with defined risk, and profit targets (No adjusting) = 4/4 NO MORE ADJUSTING UNTIL A PARTIAL IS TAKEN Share this post Link to post Share on other sites
