dodgedak 5 Posted March 30, 2020 Starting this thread to post my Day trading journal. Starting this week I am experimenting with taking just 3 trades. (this is to overcome my overtrading habits). Goal for each trade will be 3R. So I make 3R or lose 1R. Here is 12 point check list I have for entering a trade. RULES for entering a trade LONG SHORT 1 Catalyst Catalyst 2 Daily chart is favorable Daily chart is favorable 3 SPY in your favor SPY in your favor 4 Harmonious charts Harmonious charts 5 RVOL > = 2 RVOL > = 2 6 Above VWAP Below VWAP 7 2 confirmations after breakout 2 confirmations after breakout 8 Volume coming in Volume coming in 9 Above moving averages Below moving averages 10 Big Ask at a distance Big Bid at a distance 11 Bids stacking up Asks stacking up 12 3 R IS FEASIBLE 3 R IS FEASIBLE 1 Share this post Link to post Share on other sites
Rob C 826 Posted March 30, 2020 Hi Zen, welcome. What do you mean by "2 confirmations after breakout"? You mean two 1min candles above/below the breakout? Share this post Link to post Share on other sites
Mike B 624 Posted March 30, 2020 Hello Zen, Welcome 1 Share this post Link to post Share on other sites
dodgedak 5 Posted March 31, 2020 11 hours ago, Rob C said: Hi Zen, welcome. What do you mean by "2 confirmations after breakout"? You mean two 1min candles above/below the breakout? 2 up and down. 1 min candles early in the day and 5 min candles later int he day. ticker goes up, pulls back, goes up to a new high and pulls back to a higher low Share this post Link to post Share on other sites
dodgedak 5 Posted March 31, 2020 I found the execution of this incredibly hard. I sat on my hands for the first 15 minutes, and today most of what I was watching dumped in the first 15 minutes. And I found myself shorting things right at or slightly abvoe VWAP as the action at open made me short biased. I ended the day down 3R. I definitely overtraded today which is the demon I am fighting Grade: Needs improvement Biggest area of improvement: OVertrading REsult: - 3R Observation of the day: When the SPY was going up, because of the dump at open, I was still short biased. Market overrides everything Conclusion: Need to adapt R goal with market and tape. Still not given up on the idea. But this volatile market demands less rigidity, perhaps. Share this post Link to post Share on other sites
Mark D. 435 Posted March 31, 2020 Welcome Zen! Post some charts of your trades so we can provide feedback. i agree that's a lot to consider in a short time frame. maybe rearrange your list from most important to least and then try to get maybe 3 -4 of the most important items to get in to a trade. also, a lot of the items in your list can be used to determine your watchlist so maybe split the lists between requirements for the stock to be and your watchlist and then a list of what you want to see while the market is open. Share this post Link to post Share on other sites
dodgedak 5 Posted May 15, 2020 Technical / Execution Things that went good 1. Had a plan and stuck to it Opportunity for improvement 1. Better partials 2. Entry should be at the bottom of a mini trend, not at the top; or, stop should be wide Emotional 1. Need to get better sleep 1 Share this post Link to post Share on other sites
