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Tom N - Day Trading Journal - Looking for feedback...

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As I am writing my first journal, the first item is I need to do a better job of journaling!

I need to dedicate time every day to recap, reflect, make some notes and come out an improved trader !

I have only been in DAS for a couple of weeks but was previously paper trading in TD Ameritrade’s Think or Swim platform (TOS).  I had real issues with executions and status updates that encouraged me to switch to DAS.  Wow, DAS is like lightning compared to TOS.

 

Tough week across the board as I am posting my fourth red day in a row.

 

I am journaling with TraderVue which has been awesome.

Quick note on TraderVue;  The owner contacted me via e-mail the first day I created an account and helped me import data from TOS.  First Class !


 

Here is a testament to my inconsistent journaling (failing to import days)

 

The blue days are mostly in TOS.  May 29 forward was DAS.

Then I made the switch to DAS, but did not consistently download the data until this week.

I am not blaming DAS on my switch from profitably,  but I am definitely doing something different.

 

Rjc5ErH6J8BvuqlLDR3ckNsK5YS8zdEED8GiYLzmXtJN7N84D0n5pGBcKB7h14MXiJ93OXxCOY352JdbtptUBuqbu1gjTSku8SarOeIEe2HxoR8h__qBc4KSiBkhoA96Izr-4wH0

Just brainstorming while typing;  what else is different.  I hooked my laptop up to two more monitors so now I have a total of three.  I would think this would make me a better trader.

 

Today’s trades: (SIM)

 

u-J9mdot3z7LE07u-cB_b7iiwSEU0SvhvpMevPgRUROLykiAQwUPFCLz_vGRmu_J6EjQWdTIktS9bBGYfEhiewxM4SBvosevOCYTCrPK7Lh_Ne_BTGhMSq8LYinm4ry9tPTgkTrx

 

Well, this looks like a lot...

 

Ok Question #1;  Can I get the buy and sell bullets on the DAS charts ?

It is nice on the TraderVue charts, but those don’t show the trend lines etc…

 

QtMO4qdV-xeL0lGZ2AGNxp7LpGAQMwGYdt9IflXSo8Btjb7svEaKfAWhXvWCPbLpH8djfoyJ6J2IjBJQalNqeYapOhpK-JOJykgKFjzSSBm1SpQSOAqxAbpBUV99wgZ22unqKAKz

 

Trade 1: OXY

ORB on 1 Minute

What a late entry!  Since that wasn’t my number one stock so not lined up in my montage screen.  I think I wasted valuable time resetting my screen as opposed to executing my trade.  Also missed the exit on the first resistance level.  Minor loss.  Poor execution. Good strategy.

 

eTyLxTylstOcEXGkNtiIjA7srfbDBDzck-gcJQ7ImmdE0Z2BJsseoQN9j5oc3kZT3KZkyY63Iyi2xJS8vZRyj3zvKem2jF4ll0TVcWgBzw4_NdASKRRCb8j3KBr0cbCUM0vyV2j-        V_bLM9TSH1Vw5qZV1CuZPHCx6_d9xtk6OfAth3wzMzTWXFbHbpZlyX25b-MCshb1PV7R_jxkKZ92ZoM-208fixFP5Rpvfz0eL1HS9ltYCU5d_MqiHlDOoR_L9s8Fr4g9OczVHxu8

 

(#1-B; Is there a better way to do this ?)


 

Trade 2:

TA-iEH63SjncFE9uXNgrDEC_a12C5goWm45Eik9Y3R-CZ342ejKktq7vG002WZ7UX3StS2rC9AdCXdY1A8J40HQNcAZcb7NMiQVFxsWqzbWZPujdmhw9AMkyvEqOzRprkxkxBbyF

 

Thought this was bouncing off VWAP for support and to form ABCD.

Had stop set below VWAP

Good plan and execution, just failed.  Loss, but feel god about this one.

 

Same charts as Trade 1.


 

Trade 3:

I-r_VLVeLgxmxpQTIGAEM1TgQm_aZIsxEbTlbxdNpY8_4Xu5wXH596MDpqZEZM3lqrR-98s3WK3dh3b1GfUIIChCDbY-AbGG-BGIfrvZX3EHIi7LAK54us5sJhdejaZwbU3jh1pf

 

y3K2i_RvnALCxubqWFd1rP9eXjvdhDMYv2BvThE31XJh1n2R9Ot5FPfvhYRAKsRCGpX4qnfoZrBcCEpIgWi-e1uw4iQ6T6V-qbXo6ngF8byYPjPcWYZB8IcyoXPidv2KxzNaDQG7    

Thought an ABCD pattern was setting up.  Didn’t wait for candlestick to close.

Poor execution.  Loss


 

Trade 4

_Xh4NalhQrDWyWZQ2zoREaUOj3y6tpQ7ffIrihTw4DT6Jzthk-8FJia5Jj8vxFF_-BOHD5GQmrdq0MGzN9m2JwzWsGVlvfySOw5qECmCgXJF2gb99w-cOhNrAqSM-0tpS9tCbotD

 

Oh nasty bad word.  I hit the wrong hot button.

Instead of selling 25% and 50% I hit cover and added to my position!

I have not done this at all on DAS and now I have done it several times this week.  (Much worse on Tuesday)  A couple of thoughts;  1. A miss-key should have a 5 minute time out from trading stocks.  2.  I bought a keyboard that I programmed side “G-Keys” just for selling and shorting, maybe I should just use those.

Layout:

G1 - Sell 25%

G2 - Sell 50%

G3 - Sell 100%

G4 - Cover 25%

G5 - Cover 50%

G6 - Cover 100%

2b.  “G-Keys” only work if the montage window is highlighted.

 

This should have been a beautiful trade.

 

qhDJaOVQ-kMefJGBfLt_ZHW1UUrOGGn403dTCRR0wcfN4S5zaFuNdeZtqRlZORwLfVq0YGaYmDq4Xu6D6DDzRxKSpSPbf-R1FCQunDzi4hWwl2igBtSMr72ZlItlV599bykyMmJJ      QHz1CMRwrPVlMeU0wxQ9ij-v8biPx8DVgespUKtkpVU0m1kCU1W92BzcqKerkua_KBqazIe41t9oI0USA6-2WWf71jWFpCeTZ5X43yoqDQFzH-wSi5TFNve6qUq6h09lJrjV1zp-


 

Don’t make fun of my handwriting 🙂

 

ABCD  Great strategy, poor-poor execution. Error on Hot-Keys.


 

Trade 5

T9ZRgIsUDQZdnLZzUMkoSdtj646wboY84qOO82-S1RieXDOwW_lGT9afhyzPSntmJNcPURm2GOdqUD0aoS58uR-OuNZzM-Bm-9kmCRzoO_3_8QFGSUrH9n268CD1VTsDXn3eHJlA

xH1Fg06qhcjOPBFyER3kJQlm4-fM2PbZW-3lqoghXRQyukNpC-XuaYtTww9nflhuDul7F-mtEQVyheVmTteFckvpR_ya7_GRakrxyaLZaRsrJ3_JQ6Un37kw7h3nPHRdHhV1FLRO       

 

Ngg6id9gAyRo4zGvGXYxJTenCcEnuIzV6n2QESv3-iSaZOgaz0ONEF9foGMaoDnpLfDrWQjZlx1zHBlQebOCttYbL3OYk6oDmgA3q-Dfbl2kFiJ0u7_nVjQNuj1_N5EF6KDh9OAS


 

Broke VWAP after four strong candles.

Number one stock on my list.  Market is strong with heavy volume on the airline stocks today.

Of course now I am extra-burned with the huge take-off the stock did later.

I could not watch the market all day because I had errands to run 😞

Only thing I feel good about is the entry and stop.

Looking for feedback on this one.


 

Trade 6

Revenge trade on previous trade.  

UAL went under VWAP.

I went short.

It went up.

Seems funny now.

Ahhhhh!

 

jE8iuuXugFBQG9TBW39guMzo_wjNhp2Yc1HkmNjw7S2Ba3aaOvmi1x2GOT4TtU1hPTpk-Y6COMZwHg5iSglfU9RCItB0QUPz6TVj7OFXDrc_pJ6vQ_WBl0w5dAvEcJs5TRpsqpS2

 

ZPEILRLrFFSa-hGyrNQUeWX6sXLBrDbR4zAlgH6_blWZM3MgMktcLiAZaEquKEfTaaQbktUzkWYl6XPwrIuEA2OTpiXJPm5_K5RZvjCM4k5IczS-GPPlmtMkRoIRPdV84_QKK4Iw



 

Trade 7A and 7B

vlv0fCzZx7uS4SUeFDNb4dYZUF_skCED51mhNs3zX6zFefF6AGmNvm9ZNcZqq1Ar2Le6qwWqfkYV4CMvFufZQpZmLqm-WVxfZykEtqyZNE76C27BDNUCbEiSgiLqw2an4OpUJk7d

 

JMCZGLztBAV_iNwlWVFZZRRL9ArWcu8vQm2j4b7lzF13CxORsG7zRoRCqSv3mDccPSNP7732xWdeJEAv32HKXI1CEd3vniK5AMroCXHiTtKqPxmfy9enTAm4dQyUOkEp5tT5nKii      

 

RNWrEOvqw-BdZyHeaNOcYwtiwDrQsSkY0VoncYLxszqRYbRM74lMD2QL1XJvGNmSl_nfinmCbn4IOIPCGH-SNFFZs3Li1aAjfc_Q8axaxoMMC04G2F07yPE4vGKFdjUaYcfBvtvt

 

DAL breaks above VWAP and I go long with almost 1000 shares.

This is my all-in commit, so I am feeling good about the setup.

Hot-Key error (again?)  cover 25% instead of sell, but I quickly sell 50% at one cent better so I adjusted fast.

And then…….my DAS froze !

I felt good because I put in a hard stop.

I called them in the afternoon and their advice was if that happened again to  “Switch the Quote Server”

File => Data Stream Mode => Switch Quote Server

Ok, also set up my mobile DAS.  Don’t know what to think about this one.

 

Got back in at 10:05 to continue the trade…

In at $30.22 down to $30.14...i’m out !

 

gPeMCinPs709-FXUThis9NRG6X2LY9xiYppTFyRReWJl2vnzAqQE38UH81UGe8ttM5goNQVk_t8ZUy8qsDfS9B2oI_Y4HIsb_3HEMkGekGUB0dXLITK3sxzL_q-er0gMpVQum8oe

 

Poor entry and exit, but better to get out then hold while you're steaming…

 

Still a winner...sick….

 

Trade 8

EBAY

QdVA86DX-RPqMziivi_-TdqLHIUo4w8bouZZK3Smu_41JGXX780bPzYfggKJgIMp9DTXARBCFvjjRG0i5HRHD65lnXYDyxE1tCvohjulFhM18GO_1nvNgM3dFn0V63R7YxNxkSUZ

4W-VDRVYCaRmgXwekGpDcN1xfrhwx-AD-6mImFUp2tCxsXEvht4vV8mq5HYofmXnsBcgDdH9a7twhv2ksuJCzqDohoKd5OdMmHG-gt--71t2S6slj4TzxVvk3nFFzZ-tx6_-yJkn

N3IEVeqGLQAWM1HUk3X3-areevOnu96EYX80QN5WGvSOD21NKChPUIc56fgfRxulTFfqh-02W620r9du_27l-v970ZFArOV-CKpZGuOQ1VHAtR3SGNkRG6GgRA5NTTc7NoTUkymz

 

Looking for a reversal back to VWAP.

Buy at 49.20

Feeling really good about the trade, good risk to reward, good setup…

Double up and buy again at 49.26.  ALL IN.

Hindsight 20/20 Risk Analysis

First entry at 49.20

If my stop should have been at 48.82.  38 cents to share, 1R = $100, max share size = 263 shares. 

I was 304+304 = 608.  I think I lost my nerves.


 

TRADE 9

OXY

PQD21XYGjDhGSABNiXLxOJI5KrJe_pXwMimamk5lltDZdx4q2POvU_thXSf_69Fkpm9ix_A-L0nTymk4dUf8qylVSLKB4Rhd_L6AGBHZAR_pMxN7cBEg2BfXjeesBFt0ni2GIbSY

 

YtaQ7LVG8D2ej-rog-fgaN8XcyYoHB7fCS-d5D3xMbCFRHI2RyhteWPr3T6wRTshJvePZQQaWQ8-FIi9a3vjHwvytPhnt87hzNpoiUmSlkNN65XyWs8g2SpyYoESMrO0zr35_wRO

 

l9APLd63zQ4QUw3so4cjgEc6Vrc7NE-Kq1bZPijSjGXgNx2FaECbWj_Y_mXRtjXaD4-DyMsVeofaUCtOEYhyXhJ2VnpzNmiUBJCue91Jp-DFbudU0VDBdXYdkARQG1r8Z0-V5KMD

 

Was thinking this was a reversal back to VWAP.

Good news got out as soon as it was going bad.

 

======================================================

 

Recap:

Another tough day.

A little frustrated for sure.

I have some leftover frustration because Wednesday was such a huge day in the market and I was red for the day.

 

On the positive notes.

I think I have a really good pre-market routine.

I am listening to the morning show, going through the scanners.

I am making my list independently and I felt confident about the stock selection.

I love the way my DAS is setup.

I think my trade station is laid out really well.

 

Some constructive take-aways:

When trading ORB for 1 minute, focus on the trade NOT the DAS layout…

I feel like I have a very good concept of the strategies in the book and  the videos.  (Can always be better!)

Good use of hard and soft stops.

Can’t have hot-key errors.  I know this is practice in SIM, but jeez!  Use programmed G-Keys ?

Slow down and think where you are in the trade.

I only take one trade at a time so no excuse.  

Time-out for hot-key errors.

Looking for feedback on trade 5.

Thinking back at both trade 7 and trade 8

I got out early without proper stops.

Both setups had perfect strategies and would have been monster winners if I had stayed in.

Patience ??  


 

Thoughts and questions:

Any overall thoughts/feedback ?

Too many trades for a beginner ?

I personally don’t think so, only because they all have a strategy attached.

After the open should I only be on 5-minute candles ?

I think what I really need is proper stops, proper risk and patience.

Should I be in the market longer ?  The action dies down after the first 45 minutes, but it seems some patience would catch some huge potential moves.

 

Wow, this is a lot of work.  I spent a lot of time on this, but I got a lot out of it.

Everybody can’t spend this much time (??)

 

Honestly frustrated.  I have put a lot of time and effort in this.

I have studied and feel that I have a good concept of the strategies.

Will keep plugging along, this is something I really want to accomplish !

 

-tom n

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Posted (edited)

2020-6-5

Any golfers ?

When playing golf a lot of times you have one magic shot that brings you back for the next round.   That was today.  A beautiful 280 yard drive straight down the middle.  With that I crashed on sixteen out of the other eighteen holes.   A couple in the water, several three putts and a few slices that went OB.  But that drive will bring me back.

That was trading today.  I hit $BA as well as I could have.  But several other trades that crashed the day.  On the golf course the card would say 103 with a birdie on the front nine.

I traded all day from open to close for the first time in a long time.  This reinforces the idea that I could do this all day.  Sure would have to plan better with breaks and maybe a stand up desk.

The scorecard:

In SIM.  Overall Red, -$341.48

image.thumb.png.6ed7f8c1483ebe892b2b8efa0100d097.png

 

Let's start with the 280 yard drive.

Trade 9

$BA +$784.95

image.png.ce238a5a64bf0509b9ab05e830a9cc55.png

Partialed most of the way up for the win of the week.


image.png.ff4fdbb6a10b0c5dfe67ad91b4c4cdd2.png   image.thumb.png.6eab1ed2b78d5368b4093ffc9bd4f1dd.png

280 yard drive <Golf Clap>

 

Trade 1:

One minute ORB.  Hot-key error on exit, trade gone bad but lost to much.  5 minute time out for me.

$ZM -$195 with $100 = R

image.png.69866e9e303501e846a1c1f86e136f89.png

 

Trade 2:

Chasing the opening drop on $BA.  -$119

Don't lift your head !  I mean don't chase !

image.png.432e48637b43a867d7ccd968a403dc59.png

Trade 3 

$ZM at 9:39am -$107

Poor all the way around

image.png.ca4abc2028edc5f03dba43e66eb5929a.png   image.png.5a4577b516b3d5494e4e1282ac46c233.png

 

Trade 4

$AAL -$374

This one hurt.

Extended entry into an ABCD pattern.  I decide I can only buy 100 shares because of the distance from VWAP.  This is a cheap stock so I would like a lot more shares....

The stock goes up then down, back to my entry, I decide to re-buy but for 900 shares deciding to put the second stop below the 9SMA.  New rule !

Of course it crashes through both and I am out for a huge loss.

image.thumb.png.95170e9c4a2d841583fc7a88daa05b31.pngimage.thumb.png.66ca259f37ffda1bdbc4c5661f3362c2.png     

Ouch !  Several lessons here.  Snowman on a par four.

========================

Trade 5

$OXY +$175.05

Perfect ABCD pattern with partials.  Look at those exits !

Par on Par Four !

image.thumb.png.30d105f4a86de9fc0111f988e2c7526f.png

Trade 6

$ZM at 10:19AM $-107

Trying to catch a reversal, trade went bad.  Actually thought this was decent and within risk range

image.png.4aed5ef4a749f7185db5cd5b709a4b40.png

It went up two candles later...should I have kept watching the stock ?

Trade 7

Looking to short this against the 9SMA.  Bailed out the next minute early for -$55.

Looking for feedback on this one...

image.png.656af848e1038dcbd6998ecaff87fae2.png            image.png.7f60e535a2366256c7818aefce540d4e.png

 

Trade 8

OXY -$115.83

Seemed good for a losing trade.  Entered long to hold and bounce off VWAP.  Got a great risk to reward on 1053 shares.  Stopped out below VWAP for a $115 loss.  Seems like this is how a loss should be.

image.thumb.png.f7bf193bda0a7b43589f5e1c642e91b6.png

Trade 8B

Took the same trade short.  Made a little +$35

image.thumb.png.7acea706c736765b7b765d7a53c637bc.png

Hindsight 20/20 looks only like a 1:1 risk to reward.

Trade 9

280 yard drive 🙂  See above.

$BA ABCD +$784.95

 

Trade 10, 11 & 12.

I felt like I money on the table with my $BA trade because it ran up another $4 when I got out.  I had adjusted the stop close to the 9SMA.

I took three trades behind it trying to capture that money.

-$186

-$156

$0.50

Ouch !  That takes a chunk out of the nice one !

image.png.beb3f9ed2667ccb07e9afe0a08a9e2a2.png

I think I was just trying to see levels in the 9 and 20 SMA....ouch !

Trade 13

Another stab at $BA   -$144

Thought this one made sense, though it would hold VWAP.  Stopped out with good Risk to Reward...thoughts?

image.png.a5c8eabca44525a1ec3b7c32c569af13.png

Trade 15

Skipping to 15 because...it is $BA again.  Short against the 9SMA

Winner of +$84

image.thumb.png.8d6b4dde553a97e7ca19c59e84f02fd1.png

Batting a single.  Oops, golf analogies....Bogey golf is good golf (?)

Trade 14

$GRUB came into play late in the day...I think I was just jumping in to try to get in on the action.

image.thumb.png.9bfc66120d6b6353fa5af8f7dbb41ac4.pngimage.png.c97fd4196c7ead7f9fc946878c205f61.png 

+$15, has to be a loser against commissions.  Don't worry I come back to trade this one again before the close.

Thoughts ?

Trade 16, 17 & 18

Three more strikes at $GRUB

-$45

Go short as GRUB falls below VWAP, good risk : reward...and I chicken out selling in the same candlestick.

E = Entry X = Exit

image.png.7b5fee87fc13bcbc1ef891f2a885f4df.png

17...

-$44

Going long after GRUB breaks through VWAP

Same thing, chickened out in same candlestick

image.png.f7e2fabd1d455e4a64bd3c107e1f673f.png

18...

Going back long at the next candle stick for a better entry...

Ride it up, partial out, buy more on a pull back out for a profit.

image.png.fa47ef8873aa63754121669c7c733798.png

P = Partial

image.png.e9df337bbc6b9a7e3b52f0f076a3b3ae.png

The last one seems like a beautiful trade...seems like I should have made more $$ thoughts ?

Afterthoughts...

-341.48 for the day...

Five red days in a row for the week.  (and a huge week for the market)

Concentrate on A, A+ setups.

Manage risk.

A little psychology would go along way.  If you missed it you missed it.  Don't try to make it up, find the next opportunity.

Better use of risk / reward.  Don't chicken out to early, commit to the trade...

No Errors !

Need to break 80 !  Need to turn it Green  !

Any feedback ?

-tom n

 

 

 

 

 

 

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Edited by tntp45
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Posted (edited)

2020-6-8

GREEN DAY !!!

+$664.70 SIM

image.png.d85409b7e774ccdee49cc8022d684418.png
 

 

Trade 1 & 2

CCL -$209.75, +$14.52 = -195.23

One minute ORB went short.  Trade went the wrong way, got out.  (Late Entry?)

Re-fired short when it started dropping, picked up a couple of bucks, but a loser all the way around and bigger than my 1R= $100.

image.png.9f7a789ffeafb7539250815bcba0a507.png   image.thumb.png.447ef52104604608eb5497030bee5ebf.png 

 

Trade 3

$OXY  +$231.37

Five minute ORB took three partials over the next three bars for a profit of $231.17 !!

 

image.png.e1c39f7ee9ad829caa161f9a97cf9dd9.png

 

image.thumb.png.a6d2f3baf6a9054c8fe7300f806105f3.png

Trade 4

$BA +$120.42

Five Minute ORB went through VWAP and made a long trade.

Hindsight 20/20, should I have held the second half here for a big run (especially on this hot stock) went to run another $8 per share...

 

image.thumb.png.4f2f0c8efeae5a9bd8d5ddd1adb505c0.png

 

image.thumb.png.b700c150172e8c0162969b1acb828fe9.png

 

TRADE 5

$MIK +$508.14 !!!!

Took a reversal on this one and went long.

The stock blew through my goal of VWAP and and hit an overnight high, I took partials the whole way...

This hit my daily goal of $500 !

image.thumb.png.7e5fc4ddf5d51e7017db5a4e7499b80a.png

 

image.thumb.png.58d33913d5170d05ae31081b0fdecf36.png

Trading day complete in thirteen minutes after the open.

I was glad I had the discipline to stop and post a nice green day.

However, this stock went on to run...any input for those of you with more experience ?  With my trading lately it seems smart to take the win.  Maybe if was more advanced I would keep the day going looking for premium setups.

OVERVIEW

Green Day (+$664.70)  + Hit Daily Goal ($500)

Needed this one.  Looking forward to posting a solid week !

Any feedback is appreciated.

Looking back through these charts, the setups are good.  With proper stops there good have been some big winners in there.  Happy to have the green day right now, but need to work up to holding with proper stops.   Not sure if I should change my strategy to much with one green day.

-tom n

 

image.png

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Edited by tntp45
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2020-6-9

I wasn't going to post anything because of my frustration today.  I made a full journal on google docs.  I think I am just going to use the highlights that stick out.

 

BBT Trade Journal 2020-6-9

In SIM (Thank God)

Patience…

Starting to think I need to commit a day to trading one stock only…

Amazing what a mental game this is...

-tom n

 

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2020-6-10

Took the day off.  Slept in.

Will work in DAS replay tonight.  Back tomorrow !

 

-tn

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Posted (edited)

Lookin good dude! Make no mistake, learning how to trade is not easy. It's a skill, and like any other skill it takes time. Managing emotion / expectations is not easy, some days you'll feel you got it figured out, and others you'll be lost, but keep good documentation and stay positive! 

Good luck!

-Chris

*ALSO* I think it's much better to think in terms of "R's" rather than dollar amounts, especially in the beginning. Just imo, i'm sure a lot of other people here would suggest the same thing. 

Edited by Christopher Patterson
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58 minutes ago, Christopher Patterson said:

Lookin good dude! Make no mistake, learning how to trade is not easy. It's a skill, and like any other skill it takes time. Managing emotion / expectations is not easy, some days you'll feel you got it figured out, and others you'll be lost, but keep good documentation and stay positive! 

Good luck!

-Chris

*ALSO* I think it's much better to think in terms of "R's" rather than dollar amounts, especially in the beginning. Just imo, i'm sure a lot of other people here would suggest the same thing. 

Thanks Chris !

Will keep it going !!

-tom n

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Posted (edited)

2020-6-11 <SIM>

Another tough day, but feeling positive calm and collected.

Kept a full journal in google docs, but wanted to share my recap here:

 

Rules:
    Break after three back to back losers 5 minutes
    Three stocks at a time max
Out of a trade, keep watching the stock until it gets choppy.  Should I re-fire or reverse the position ?
    I am going to keep my R at $100.

Lessons:
    Get in that first trade early for an excellent entry.  Excellent entry is the key to profit.
    Watch the stock after you get out of the trade.
    More Replay trading with recaps.

Planning on working in Replay tonight and be back in action tomorrow to close off the week STRONG!!!

Started with a green Monday, might as well as have a green Friday !

 

-tom n
 

 

 

Edited by tntp45
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Posted (edited)

2020-6-12 <SIM>

Came in with a new game plan today...

Limited my watchlist to four stocks with a few rules..

Need to continue watching the same stock until it goes flat and choppy, no action.

However, ok to trade and change the one minute ORB and the five between stocks.

With that I ended up keeping an eye on one stock, $SAVE for the morning session.

Close to a break-even day at -$58.10 or -0.58R.  Way better than the hemorrhaging over the last two days.  But off my Monday winner of $600 plus.  Some solid corrections.

1R = $100

Trade 1

$SAVE +$62.10

One minute ORB.  One of my goals from yesterday was to have an excellent entry on this trade.  Had that and what were excellent exits.  Not a lot of run here, but I caught it all !  Start the day Green !

image.png.acdc8dc01241797fb4b9a51fcccdd587.png

Trade 2

$PLAY - $80.08

5 Minute ORB

Good Entry, Good Exit.

image.png.b9147ec78e6b6c81a4a962b28d66c054.png

Trade 3, 4, 5, 6 & 7

Trade 3

$SAVE  +$145.23

Hindsight 20/20 and while I am looking at this a few thoughts crossing my mind.

First this is a positive trade.  And I followed it all the way through.

I let the stock price cross VWAP, confirm and then I bought...

But...Had I kept the chart up from trade 1. (Remember, I am trying to stick to one stock instead of jumping around)  Would have I caught the reversal in minutes four and five from the open.  I don't think so.  Would you have played this different ?  Would you have played the reversal and if so...how long would you have hung on to it ?  All the way ?  This move broke the 9 the 20 and VWAP...I guess that's why we pick stocks in play...anyway a good move and a good start to the day !

The more I look at this trade the more I like it (clap, clap, clap)

image.png.d805eeca8ab732370c7776f3b049c32e.png

image.thumb.png.523343e975d77b51413dfe7dcfdcb7c0.png

Trade 4

$SAVE -$165 

Stock went through VWAP, I went long.   Too big of share size so I reduced my position by half, already lost 0.55 R with just that...stock drops below VWAP and I am stopped out.

Thoughts on this one ?  Not an A trade ?

image.png.36e4b29083457a09e79a3fc4586648d3.png

image.thumb.png.739aab6c4aa3867acbee306bb2eeddcf.png

Trade 5

$SAVE +$41.40

Stock goes back above VWAP again.  I waited for it to cross the 9 and the 20 to get in...

As I am writing this I am patting myself on the back because it looks so pretty, including all of the partials.  However, I just didn't make a lot.  Hindsight it is only a 1:1 r/r, you can't get a complete R if you are going to partial...good execution.  Maybe a C trade...

This blown up chart shows this better, I should have been in three candles earlier...with double the share size...still, a lot of things done well here...

image.png.060c3128ffcadf4cc722eebd433c748b.png

image.thumb.png.d6cfa4bffa55db0cdc1920bdde77a0c5.png

Trade 6

$SAVE -$76

Stock came down and bounced off VWAP, I went long...

Adjusted share size to 1 R Risk (good!) 2000 shares to 1200.

Stopped out.

Lesson; look for confirmation on five minute to confirm strategy...

image.thumb.png.6fecf8dd677e063518c83aa5442e9e34.png

Trade 7

$SAVE +$21.25

Really reversed myself from trade 6.

Partialed at the bottom but didn't finish it...was I completely focused (???)

Good trade, maybe a better entry would have added profit and share size...certainly could have improved the exit...green trade !  I like how I was watching the stock and took another better opportunity...goal for the day !

image.png.1ec6530e110449f59decb2ab7c725eda.png

Trade 8

$SPY -$9.25

Tried to take a reversal of the $SPY before the market closed...

Unable to concentrate or complete the finish when my young daughter needs attention 🙂

A couple of candles early...but WOW look how that one finished...!!

Missed Opportunity !!

image.thumb.png.106874d4f964062bc3eb5728bb77e484.png

RECAP:

Wow I feel better !

First, just by having a major change to my setup and a new set of rules and sticking with them all day long. ( Of course I really only traded the first 75 minutes, but that's ok!)

Good discipline sticking  to the rules and the plan !

Small watchlist.

Focused on one stock until it goes flat and choppy.

NO HOTKEY ERRORS !

Good use of stops.

Area for improvement:  Focus on excellent entries.  This allows not only for more room but for better leverage.  IE  $100 = R allows for 500 shares on a 20 cent stop, but 1000 shares on a 10 cent stop (and 2000 for 5 cents)  This would allow for bigger winners which were absent today.  Make sure completely focused on the trade and stock in action.  It is ok to take a break !

Good day to go into the weekend.

One extra note to how much I enjoyed Aiman's trade recap on Thursday morning.  I have to admit, I did not realize he was reviewing member trades.  How valuable !!  Will continue to attend these.  One thing I got out of this is how he uses multiple time frames for confirmation and stock direction. I typically only use a one and five minute chart.

Sad my week didn't come together overall, but I felt that I have grown alot.  Everyday in the chatroom you hear about how important it is to journal.  I think I have gotten a ton out of this short exercise.  Only one thing...the journaling process is taking hours...I can't imagine it should take that long. I imagine this will be more concise as I grow with trading.

Goals for the weekend:

Practice in Replay, complete with journaling.

Review strategies in education center.

Exercise !

Enjoy family time !

Have a great weekend All !

 

-tom n

 

image.png

image.png

Edited by tntp45
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Posted (edited)

What's up man! Looking good, the first thing that I want to say is when I first started trading I traded almost exclusively off vwap. The logic was something like "Large institutions are the catalyst for the bulk of price movement, vwap is the  most important indicator for these institutions, ergo if I think a stock is strong enough to stay above vwap i'll go long, if I think it's too weak, I'll go short." 

I ended up hanging around break even for a lot of weeks trading like this and it felt very limiting. Now I only use vwap as a profit target and very rarely take a position based off vwap and I do a lot better. This video recap by Aiman put the start of trends / importance of moving averages / stop placement in to perspective for me. 

A few more things ... 

1. All of your winners are sub 2R, I challenge you to make a plan before you enter for a fixed R profit. Something like enter long at $10 with a stop loss of $9.90, and a profit target of $10.30, i'll partial 20% at $10.20 and get all out at $10.30 for a ~2.7R gain. It doesn't have to be that strict but the main take away is when you enter a trade you should always know where you want to get to, and roughly how large of a move that is. If you're consistently getting sub 2R winners then your hit rates needs to be really high. Where for example, if you only take 2R trades and your hit rate is 50%, you take 10 trades, 5 winners, 5 losers, that's 10R - 5R = 5R = $500 (for you) 

2. Are you using kyles hotkeys? If not, I HIGHLY recommended that you do ...

 

3. So your entry on $PLAY for the 5 min ORBD was actually not that great ❤️ check it out .. 

 

image.thumb.png.685aad1a3cbfb4a1b1face2aafd44452.png

 

Remember, when you take a 5 min ORB you want to have some type of confirmation on the 1 min chart, most often an ABCD setup. You can see that it was respecting previous day close for a while, and tested and rejected it, a much better entry would have been around 16.53 with a tight stop above vwap / previous day close / moving averages. 

It wouldn't have worked but this entry makes a lot more sense, the risk / reward is now there, the odds that PLAY just smashes through $16 is very unlikely, but it makes a great profit target.

I'm not sure if I would have taken this, if I remember $PLAY gapped up heavily Friday, I'd be looking more for a fallen angel play rather than a ORB to the downside, also $SPY was strong, and the candles are very wide on the 1 min, definitely wouldn't be a terrible trade though, maybe a B- (IMO :P) 

Hope this helps, gl!

v/r

-Chris

 

 

Edited by Christopher Patterson
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Chris;

First, thanks for taking the time to post this.  A lot of great comments and constructive criticism!  Much appreciated!

     VWAP Trading - Agreed.  I know I came into Friday ultra-conservative after have back to back big red day.  I think you make a really good point.  Very relevant.

                                    Thanks for the video!  Will go through it this weekend.   I got a lot from Aiman's  Thursday review.   Just the way he analyzes each stock over multiple time frames was valuable.

1. Sub 2R Returns - I think you nailed my number one opportunity to bring in some Green !!  My main focus is better entries.  If I have a 10 cent stop I have double the reward with the same risk as a

                                     20 cent stop.  I like the Fixed R concept.  Would you recommend setting a minimum or 3:1 or 4:1 or higher to enter a trade ?

2. Kyle's Hot Keys -

Funny that you said this.  "Kyle's Hot Keys"  is in all of my notes for the week.  I have been hesitant because it seems like easy math I should be able to do on the fly.  Also, I am assuming that his hot key is two steps; one to set the action (buy/sell) and one to set the risk.  Either way, I will commit to find them and set them up into my Montage today so I can practice over the weekend.

3.  Trade 2 $PLAY - Great analysis and Thanks !  

                                    "you want to have some type of confirmation on the 1 min chart"   -  Big lesson, thanks !  Will implement this.

                                    "also $SPY was strong"

                                     Is that screenshot typical of how you are setup when looking at a trade ?  1 min, 2 min, 5 min & SPY ?  I currently keep just the 1 & 5....

                                     The more I look at this it would be a D trade.  But that is ok!  Grow and Learn !  That is what is important.

                                     "I'd be looking more for a fallen angel play" - Need to study this concept.  Weekend commitment.

Just to add one more comment that kind of ties everything together...

           Regarding my "good trade" Trade 3...(note, marked as "2" on graphic)

Hindsight 20/20, the correct analysis was to trade this as a reversal at the five minute mark. or even aggressively at the four minute mark.

The trick would be what wold be the profit target....

Also, another good excuse to focus on the one stock.  I allowed my self by rule to go back to the scanners for a 5 minute ORB.  Will adjust that rule!

image.png.d305af7ae7d4a54b1fceaed48b174f9d.png

 

Thanks Again Chris for taking the time and effort !  Looking forward to studying / practicing this weekend and trading next week !!

-tom n

 

==============================================================

Quote for tag...

1 hour ago, Christopher Patterson said:

Hope this helps, gl!

 

 

 

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26 minutes ago, tntp45 said:

Also, I am assuming that his hot key is two steps; one to set the action (buy/sell) and one to set the risk. 

It's two steps if you count having to double click the chart where you want your stop. But the hotkey is just one script.

28 minutes ago, tntp45 said:

  I have been hesitant because it seems like easy math I should be able to do on the fly.

Yes, the math is simple, but it does take time and your focus away from the chart. The benefit of the hotkey lies in the fact that you never have to look away from the chart. You double click where you want your stop, and when the price gets to where you want your entry to be, you just fire the hotkey. Buy/sell, stop loss, share calculation, and built in risk are all taken care of for you instantly.

It's just one less thing to think about! 🙂

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Thanks Justin !

Will implement it into my montage this weekend and try it out !

 

-tom n

===========================
 

quote for tag...


🙂

33 minutes ago, Justin said:

 

 

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@tntp45 np man! happy to do it

so first, and I think most people would agree, that if you're entering a trade you want a minimum 2:1, If you have a really large account and great intuition for price action, I think you could get away with taking high probability 1R-2R moves and partialling quickly, but for us, I think 2R minimum is a good general rule. 

My setup has the 1 min / 2 min / 5 min / 15 min / and the daily / + $SPY 2 min (so valuable imo) 

but ya, the daily is to get a sense of the ATR of the stock, the 15 min is to see what it did premarket, or if a 15 min ORB is setting up, the 2 min I use a lot for parabolic reversals and I'll take ABCD's based off the 2 min as well. The $SPY 2 min is just to have a general intuition for market sentiment, I mean would you really want to take a 2 min ORB to the upside on $AMD when $SPY just broke a support and is tanking?

Lastly, reversals are tough man, I think you gotta be really good at reading volume + price data ( commonly referred to as VPA = Volume Price Analysis) But, I think if you sense a stock is very much so over sold, and is struggling around a significant level, maybe $SPY is bouncing, and the level 2 is giving you some good indication, I think it's a reasonable trade! Try some! 

-Chris

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3 hours ago, tntp45 said:

Thanks Justin !

Will implement it into my montage this weekend and try it out !

 

-tom n

===========================
 

quote for tag...


🙂

 

Sounds good. If you need any help with it, don’t be afraid to ask!

Also, one other tip - You can used the @ to search someone’s name at tag them 🙂 @tntp45

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