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

[tntp45 53]

You learn something new everyday !

Thanks @Justin  !

[Christopher 129]

@tntp45

Hey man, I took a 5 min ORB today that worked out, thought you might dig it. 

 

[tntp45 53]

Awesome Trade @Christopher Patterson !!

Impressive read on stock direction and the pre-market levels !

Question on the terminology;  would this technically be a support & resistant trade as opposed to an ORB since the short was inside the 5 minute candle?

How was your overall day ?

The videos are Awesome !!

-tom n

Edited June 16, 2020 by tntp45

[tntp45 53]

Weekend Goals:

• Watch Aiman's Video.  Awesome ! Thanks  @Christopher Patterson !!  - Complete
• Study Fallen Angel Video - Complete
• Study Double Bottom Video - Complete
• Install and test Kyle's Hot Key's - Complete
• Net Desktop layout - Complete

I was able to install Kyle's hot key's.  Although, since I am only using the limited dollar amount I copied the script from this video.

Seems to be working fine...

          

 

Testing was a little odd in Replay, because it will not fire the stop orders...

However, my session I was up 12R in three trades, I am obviously a trading genius now !  JK

Interesting, when you have an excellent entry you are buying a lot of shares and using your margin account.  Theoretically it should be the same amount of risk as 1R.  It just makes me think about worse case scenario, day trading is risky enough.  To make a mistake when you are leveraged 4:1 on margin you could really do some damage.  Is this how most day traders make it work ?  Is this how the successful ones are making the big dough ?  There must be a certain amount of practice and time when you are feeling comfortable working with all that leveraged capital.  Case in point;  if you are trading a $30 stock and get in with a 3 cent stop....  $100 risk divided by 3 cent range allows for 3,333 shares. 3,333 shares * $30 = $99,990... All of your buying power in Sim.  I understand the stop should provide for a $100 max...but wow...better be careful...

All in All.  The HotKeys are incredible !  I am so impressed.  Went to bed dreaming of all the money I am going to make

Thanks Kyle !!!

Just wanted to share my new layout with you...

One stock on my main screen with the montage.

     Multiple time frames; 1min, 2min, 5min, 15min, Daily, SPY.

Looking forward to a good week !!

Also caught Hiltzy's video on YouTube.  Great story on his journey.  Appreciated his utilization of the High of Day strategy.  I don't see him in the forum (?)

 

Looking forward to a Big Week !!

-tom n

 

 

 

 

 

Edited June 16, 2020 by tntp45

[tntp45 53]

2020-6-15

Going to call today a scratch...

Got to play around with Kyle's Hot Keys...

A term for the day, slippage...a real phenomenon on the higher priced stocks.  $BA was my stock in the morning and a few of my 1R stops turned into 1.8R losses...

A few good trades,  I feel like I am watching the price action better.

Goal for tomorrow:  Look for longer wider movements, not just on the 1 minute chart.

Interesting market day ! 

Thanks All !

-tom n

[Christopher 129]

12 hours ago, tntp45 said:

Awesome Trade @Christopher Patterson !!

Impressive read on stock direction and the pre-market levels !

Question on the terminology;  would this technically be a support & resistant trade as opposed to an ORB since the short was inside the 5 minute candle?

How was your overall day ?

The videos are Awesome !!

-tom n

First, so for me I classify a 5 min orb as taking a short / long anytime during the 2nd 5 min candle. So you get a first 5 minute candle close, then during the second 5 minute candle you're digging through the 1 min chart looking for an entry, but you could argue this was an ABCD or Bear Flag or support & resistance too, it was somewhat all of them. 

Everyday is good bro!!! 10R or max loss, your job as a trader is to just learn everyday, if you're doing that then you should always feel good. 

I like your setup! If you right-click the border of the top of each chart, there is an option to omit the title bar which will give you more real estate for your chart! 

 

- > 

[tntp45 53]

9 hours ago, Christopher Patterson said:

Everyday is good bro!!! 10R or max loss, your job as a trader is to just learn everyday, if you're doing that then you should always feel good. 

Some day I will get to that level !

[tntp45 53]

I am a trading genius on Replay !!

[tntp45 53]

2020-6-16

<SIM>

Red Day  -5.5R

 

Took a lot of trades, not a lot of good strategies.  New focus for tomorrow.

 

Trade of the day:

SPY +3.14R

Shorted SPY when it lost the 100 SMA on the 5 minute chart…

 

The other trades...

A lot of trading for trading...

Focus tomorrow on A setups and above, a small amount of trades is ok.  A red day is ok.

Just looking for well thought out entries...and good entries !

Tomorrow Goal:

 

 

[Christopher 129]

Nice catch on $SPY, really interestnig volume candles imo, especially the hammer on the 1 min it bounced from

That's a whole lot of volume for a very narrow range...interesting...

[tntp45 53]

9 hours ago, Christopher Patterson said:

Nice catch on $SPY

Thanks Chris !

[tntp45 53]

2020-6-17 <SIM>

I promised myself all trades were being published here today...

Result -6.6R

On a positive note:  Here is the Trade of the Day:

$BYND

+4.0 R

Moment play as the positive for the day stock holds VWAP.

Great entry as it kicks into gear...

A little aggressive with no partials, but it paid off...!

Trade of the week so far !

What should have been the Trade of the Day

This one really burned me this morning and I think I am still steaming typing at 8:41 tonight...

Took a 5 Minute ORB on $BYND and got stopped out...well if you watched this stock today you know it launched from the open...

Look at how fast this moved, it dropped 60 cents in two seconds.  

I put in my order and the next thing I knew I was stopped out and the stock was going green...

My after thought was I should have re-fired into the trade, but looking back that would have failed to as the 9:36 candle would have stopped me out a second time...

Ideally this would have been a 5R winner...I am sure there is a psychology lesson here more than anything else on how this effected me the rest of the day...

Trade 1

$BYND

1 Minute ORB -1.26R

Went short failed, -1.26R

Trade 2

$NCLH -1.13R

1 Minute ORB went long, stopped out.

Trade 3...

"What should have been the trade of the day"

Still steaming...

Trade 4

$BYND -1.1R

Tried to catch the reversal, should have waited for a confirmation candle.  Stopped out.

One minute to early

Trade 5

$BYND -.9R

I had a support and resistance line marked from prior trading days at 163.15...

$BYND, went through, didn't wait for a confirmation candle...stopped out.

Trade 6...

$BYND -1R

Some type of error on my part...566 shares...out of the trade one second later (???)

Trade 7

$BYND -1.4R

Oh wow, the green and red markers just came off my charts...It is after midnight EST...I wonder if they disappear...shoot...   Note: Complete journaling before 9PM PST...!

Calling a reversal a go long.  Only 77 shares.  Stock pulls up and down so I add 100 shares and adjust my stop.  Out shortly after.  Some game plan !  Remind me not to do that for a while !

BREAK TIME !

I have a rule of three red back to back trades is a 5 minute break.  I should have had a couple of these already.

So I hold out for not quite five minutes but then...Make the trade of the day for 4.6R !!!!

Trade 8: Trade of the Day

Trade 9:

$BYND -1.1R

Bad Trade, Bad Strategy, time to stop for the day...

Trade 10

$BYND +.66R

Glad it was green !

Stock jumped over VWAP went long and sold the next candle because I was done for the day !

Afterthoughts

Just did not feel well today at all.  Took a 5 mile walk around Lake Miramar here in San Diego.  Still didn't feel right.  Not sure if I didn't get enough sleep last night or just stressed out in general.  On top of all that I know that Trade 2 sent me steaming for the morning.  Looking back I should have just shrugged it off and kept going.  Need to embrace my rule specifically, three bad trades take a break.  Also was going into today to only take A+ trades, got thrown off of that this morning.  Will refocus and be back ready for a good day tomorrow !

Take a break after 3 red trades.

Don't let a loser throw you off track.

Stick to the game plan...A+ Trades. That was the plan going in, got wayyyyyyy off track of that today.

No new strategies or make up strategies as we go along.

Need to master the psychology of this.

Time for a good nights sleep !!

 

 

 

Edited June 18, 2020 by tntp45

[tntp45 53]

I am a genius in Replay...

[tntp45 53]

2020-6-25

Came back after traveling since last Thursday.

Got a good night rest and was ready to go !

And then over-traded the heck out of it...

Take-aways from today...

• Don’t Chase
• Don’t go against the trend
• Confirm pattern on multiple time frames
• Minimum Risk to Reward 3:1 (?)
• Pushing trades, quit…
• Reversal, should go towards VWAP…
• Look for the flip side, should we reverse ?

Will practice in replay again tonight...looking forward to tomorrow...

[tntp45 53]

2020-6-26 <SIM>

-0.56R

Trade 1

$GPS -1.08R

1 Minute ORB, went short when the price went down...stopped out.

    

 

Trade 2, 3, 4

$BIG

Trade 2, 5 Minute ORB, stopped out... -1R

Trade 3, Nothing but chasing...-1.08R

Three losing trades in a row...take a 5 minute break...

Trade 4, ABCD, small profit...+0.44R

-      Side Note, sure is hard to due these recaps without seeing the full DAS charts, need to journal same-day.

Trade 5

$NKE +1.54R

Broke a couple of rules, and this ended up being a profitable trade...go figure...

First, I was already in Trade 4 with $BIG, so this entry gave me two positions at once, not in my playbook..

Went long for a reversal...it was a late entry so I was not happy with my share size. 

The stock pulled back so I ended up adding more shares (against my rules).

Made a couple of bucks out of it and sold out with the price action.

 

 

Trade 6 

$GPS +0.91R

Took GPS for a reversal...

The quick analysis here would be with proper use of stops I would have caught the rest of this down trend.

True, but I was so happy to have some positive dollars i took it !

 

Trade 7 & 8

Trade 7

Went long when I thought it was setting up for an ABCD pattern.

Panicked and sold right away for -0.28R

 

Trade 8

Thought $GPS found a resistance level.  Long at 13.70, sold half at 13.87 and the rest for break even.

+.29R

Overall Recap

Actually feeling really good at this point.  My total day was at -0.28R a huge turnaround from my big red days I had been having over the last couple of weeks.  My favorite trade of the day was actually one that I did not take!  One of the stocks was moving down to VWAP and I was convinced that it would find that level as support.  I watched it across multiple time frames and stayed out of the trade.  It ended up losing VWAP to continue down.  All in All feeling a lot better.   I feel like I am concentrating on "Trading Well" as opposed to just firing away when I see a potential move.  Completely fired up and ready to learn more, study more and trade better and better for profit  !

I have several thoughts and rambles after today which I will continue to type out and post here...

Wait one more trade !

So I ended up taking my laptop to my favorite place for breakfast.  I listened to the moderators and only jumped in one for one more trade.  Then I discovered that my Hotkeys are not setup for that display and you can't read anything !  Work to do on that setup.

Trade 9

$TWTR -.024R

Took $TWTR for a reversal, super late entry as my HotKeys are not setup...pretty frustrated I bailed out for a small loser.

This trade however sparked a lot of though and conversation in the chat which I will expand on...

More Thoughts

Should I just quit trading the open, seems like the 1 minute and 5 minute ORBs are losers for me...

Good Rule followed; Take a break after three back to back losers...

Got out of trades completely before letting them run, this cost me some money and saved me some money...struggling with where to land on this today as the overall net result was much better.  Makes me want to trust my gut...  Maybe leave 20% in just to run...

Again, a lot of thoughts came out of today...so will add separate entries...

Edited June 27, 2020 by tntp45