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

[tntp45 53]

2020-7-31 <SIM>

Tough Day !!

Disappointing after a decent week...

TRADE 1 $PINS

1 Min ORB -1.26R

TRADE 2 $UAA

5 MIN ORB -2.0 R !!!!

Daaaang ! Out in three seconds for a 2R loss (???!!!)

Technically at max loss but decided I could have one more trade...

TRADE 3 $F

Reversal -0.33R

RSI got down to 14.  Went long.  Should have hung in there for a 2:1 winner. Gun shy with the price action did not want to lose another full R.

Break time per rule.

One more trade !

TRADE 4  $SPY

Support Level Break -.04R

SPY went from Green to Red and broke the VPA level.

Nothing else to say, but should have hung in there...would have been a nice 2:1

Conclusions:

0-4 for -3.63R Ouch !!

Maybe could have waited for a little more confirmations on my ORBs. I don't think so.

Need to be prepared to be in a trade longer as the day goes on.  Even after the first fifteen minutes of open it takes longer for the trades to play out.

Weekend Goals.

Review basic strategies.  Work in replay.  Be fresh on Monday !

 

Edited July 31, 2020 by tntp45

[tntp45 53]

2020-8-3

No trading today...

[tntp45 53]

2020-8-4

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Motivation & Thoughts

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[tntp45 53]

2020-8-7 <SIM>

Well this looks better !

+2.93R For the Day !

TRADE 1

$Z One Minute ORB

+1.9R

This is a great way to start the day !

TRADE 2

$Z FIVE MIN ORB 

-.02R

Long at 80.50, partial at 81.08.  Set stop to break-even.  Stock continued to run, but I moved to watch other tickers...

Thoughts ?

TRADE 3

$PLUG -0.33R

ABCD

Took it long for an ABCD pattern.  Didn't like it and exited 100 percent 12 seconds later for a loss.

The volume bars seemed to agree with the move.  Just must have been to extended.

Looking back, should have just avoided this trade...

TRADE 4

RKT +1.26R Trade of the Day !

Reversal

This is actually my favorite trade of the day!  Even though wasn't the most profitable, it was the best executed.  Additionally I managed to record my screen, maybe I will actually make a video recap later.

Proud that - I went in with confirmation on multiple time frames.

                      - Partials at technical levels.

                      - Exit goal was VAP, utilized !

TRADE 5

$UBER -0.46R

Went long for a reversal and bailed out on the next candle.

Looking at this I should have held in there...would have been the trade of my life !  Ewwww...didn't realize I missed this one,  will be thinking about this one all weekend...

Talk about missed opportunity !!

Didn't want to see my green p&l go away ! 

TRADE 6

$DDOG +1.57R

Reversal

Long for a reversal at 77.41...three small partials then all out at 78.10.

Arguably could have reversed the trade around for a continuation short.

Can't wait until that is in my playbook !

At this point I am sitting at +3.98R.  My goal for the day is 5R but I have been running for a target at 3R.

Do I call it a day ?  I am thinking to just hold for A+ setups.

TRADE 7

$KSS -.09996R ( Just couldn't round it to 1.0  )

Took $KSS for a reversal.  Aiman was the moderator in the room and he had actually said "not a reversal"

Short anyway, stock got away and stopped out.  Ouch ! Lost my almost 4R day...

Thoughts and Conclusions

One of my best days in DAS.  Makes me green for the week and for the month.

Pretty pumped up !

Opportunities for 15 Min ORB, need to come up with a strategy to monitor these.

Weekend Goals:

Add separate HotKeys for 0.5R and Break-even.

Study Reversals, continuation strategy, level 2.

Continue working in the success webinars.

Edited August 7, 2020 by tntp45

[Christopher 129]

Always great to have a day like this. 

Keep an eye on the level 2 on stocks like $Z, they tend to have a larger spread and near the open it's REALLY easy to get not that great of a fill.

Nice job! : )  

[tntp45 53]

Thanks @Christopher Patterson !!

[tntp45 53]

2020-8-10 <SIM>

Disappointing day as I got out well outside my playbook and started experimenting.  Although I am in SIM I need to practice like I am live.

"Practicing" can be done after the day is closed or in Replay.

A little off in the morning, got up early and ready to rock.  I reset my Internet thinking it would run faster when it came back up, but it took over 20 minutes to resolve the connection.

TRADE 1

$NKLA ABCD

+.30R

Didn't take any 1 minute or 5 minute ORBs today, nothing seemed clean.  Thought I may not enter any trades which in hindsight would have been a better plan !

I thought $NKLA was setting up for an ABCD pattern.  Although I caught an up move it failed overall.  Got lucky, but started the day green !

TRADE 2

$FL 15 Minute ORB

-1.21R

One of my goals today was to start taking 15 minute ORBs.  Looking back there have been some huge moves on this strategy.

Although I took one here on $FL the strategy was poor.   No confirmation on other time frames and really on the shorter time frames it was in an uptrend.  Good lessons, ok with this one...

TRADE 3

$NKLA  Descending Triangle

-1.03R

Descending Triangle ?  That is not in my playbook !  Need to save these for practice.

The pattern on this was just screaming at me so clean.  Not really sure why it failed.  My only theory is it did not break the pattern with high volume.

Probably took me off my mind-set more than anything.

TRADE 5, 6, 7

$AAPL

TRADE 5

Momentum trade as $AAPL crosses the 9&20.  (not in playbook)

TRADE 6

$AAPL

-1.03R

Support & Resistance trade at a daily level

Poor trade. Revenge trade. No confirmation candle. 

TRADE 7

$AAPL

-1R

Tried to call a reversal.

Obviously I am trying to find an excuse to make a trade at this point.

Time to walk away from the computer !

Conclusions

Poor execution day...

Lesson learned.  Better day tomorrow and looking forward to a better week !

-3.35R for the day.

 

 

[Christopher 129]

Just something to look out for, I've seen this quite a bit, there is a rejection on moderate/high volume, then 2 lower volume candles of consolidation, then a drop. I'd call this a bear flag, but I've done next to zero research on bear flags, haha. It looks like it though! : P It's good you waited you for the pull back. ABCD's are tough, in general the one's that have a strong move then consolidate sideways in a tight range offer the best r to r, but they're rare. You're doing great though! Just keep grinding away at all the strategies and find what you like, keep a close eye on spread, especially in the first 5 minutes. Don't let R count get ya down, 1 day at a time. 

 

Some ABCDs...

 

Aiman's "W shaped" ABCD. (2nd bottom higher than the first) 

 

 

Edited August 10, 2020 by Christopher Patterson

[tntp45 53]

Thanks @Christopher Patterson !

Thanks for highlighting the volume, big signals there !

[tntp45 53]

2020-8-11 <SIM>

I came into the day ready to dedicate the day trading from open to close.  (only trading opens recently)

Spent last night going back to make detailed notes on VWAP strategies from the Education center.

TRADE 1 $INO

1 Minute ORB

Took $INO short on minute 2.  BOOM ! +2.74R to start the day !!

So here is the dilemma.  If this was a planned short day, it would be over.  Post my one and done and have a great day.  I have dedicated my day to sit in front of trading all day.  So I thought of two scenarios.  1. Drop into "practice" and keep working on DAS. Or 2,  Count all the trades and the day stands by itself.  Either way I want to participate in the chatroom and learn what I can from the moderators.  Option 2 it is !  Goal is 5R for the day!

TRADE  2 $NIO

VWAP Reversal -0.23R

I studied this strategy from Andrew pretty intensely last night.

It only applies in the first half hour of trading.  He also was using the 5 minute chart to show this.

I got more aggressive using the 1 & 2 minute chart...long at 9:47 and chickened out of the trade.

 

What do you think of this screen shot with the multiple time frames ?

I am starting to like it...

TRADE 3 $CCL

Reversal -1.0R

Went long at 10:04.  Entry based on 1 and  2 minute candles.  Should have got confirmation on the 5.

TRADE 5 $AAL

Reversal +0.80R

Since I had been wrong on the two previous reversal trades.  I decided to wait for more confirmation.

I let the stock break the 9ema on the 1 minute.  Also got a confirmation candle on the 5 minute.

It broke the 20ema so I doubled down on the buy (what ?! Not in my playbook!)

It paused and I sold the double down right away. 75% partial at 10:19 and all out at 10:20.

Aiman was kind enough to review this trade in the classroom today. 

His remark was that my entry was to late.   Agreed if you are looking at the one minute candle.

So there it is, it's a risk-reward trade off.  The more confirmations, the higher the probability of the trade working.  With the one minute candles the higher the reward.  But in my own small sample size, the tighter time frames failed 0-2 and the more conservative one won 1-0.  I wish I had the computer smarts to go and back test this.  Perhaps their is another variable you could throw in to increase the smaller time frame hit rate.  @Aiman Almansooriis certainly doing it.    RSI ?  Aiman was counting candles, lot to learn from him.

TRADE 6, 7, 8, 9 $OXY

TRADE 6

Reversal -1.0R

Went for a reversal at 13:03, waited for the 1 Min to cross the 9ema.  Failed.  1R loss. 

TRADE 7 $OXY

Mountain Pass +.06R

$OXY passed the 50SMA on the 1 minute and I went long at 13:26

10% partial at the 100SMA  (Note, when I take 10% partials it always go back to break even...not sure why!  It is a manual entry at this point, no hot key.  Will fix that tonight)

TRADE 8 $OXY

Reversal +.06R

Aggressive entry on the 1 and 2 minute candles...

10% partial, out at break even.

 

TRADE 9 $OXY

TREND TRADE  -1.0R

Not a highly utilized trade for me.  But I think it needs to be utilized more.

Went short at 13:46 when $OXY held the 50 on the one.  Big share size, small stop, stopped out at 13:47.

The overall trend here was south, so there is definitely a strategy here somewhere...

Blowup of the 1 minute chart for further analysis...

So the $SPY crashed and so did this stock later in the day (when I started journaling)

But, just looking at possible other entry points...

• There are two 9/20 crossovers that would have signaled a sell.
• A false 100SMA breakout to short ?
• Also a support and resistance level marked on my chart

Would have been a Monster Run !

Lesson;  If you are going to have a watchlist, need to watch them !

• Can you set an alert for the 9/20 crossovers ?  Asking DAS right now...No, is the answer.
• Need to set alerts for levels...super easy, no excuse not to set this up on watchlist stocks.
• Need more monitors (?)  Oh sure, the wife will love that idea  Better make some $$ first.

Wow, that could have been a big winner...

P.S. That is enough of trading $OXY for the day !

TRADE 10 $SLV

Reversal +1.92 R

This was called out by @JaradBBT in the chatroom.

Went long at 14:04...

Took a lot of partials, but I think I maxed it out...

Would you have taken the same move at 14:32 ?  Looks like another good entry...

TRADE 11 $SRNE

Reversal +1.17R

Called out in the chat room. Late entry but still made some $$ !

Afterthoughts & Conclusions

+3.51R

This is my best day since I have been on DAS...

Feels like a full day of work !

Will add more thoughts to this later...

 

 

Edited August 11, 2020 by tntp45

[tntp45 53]

2020-8-12  <SIM>

Need to run this morning, could only trade a little at the open.

Will expand this post later today...

Submitted these two $WFC trades for BBT Trade of the Day...

+1.33R +3.85R = +5.18R

 

5 total trades today for +3.26R

Done trading at 6:54AM.  Might be on to something here

[tntp45 53]

2020-8-13 <SIM>

One and Done !

Was planning on trading the first 90 minutes, put decided to call it a day after one trade

TRADE 1 $AMD

2 Minute ORB +2.72R

A little proud of this one as it did not make a breakout at the one minute mark, but it did move a little later and I caught it.  I was a little off of the rest of my watchlist as the other stocks went on SSR.

I have to admit I was partialing heavy because my p&l was doing good and I wanted to capture the profit.

I got a lot of shares with my entry and it moved fast.  Since there were no levels where this stock was trading I wanted to lock in the dollars...

Afterthoughts:

Green day, Green week, Green month !

Good discipline today.

Contemplating the thought of Live trading the early morning and then switching to SIM after the first 90 minutes.  Thoughts ?

[Christopher 129]

7 hours ago, tntp45 said:

Contemplating the thought of Live trading the early morning and then switching to SIM after the first 90 minutes.  Thoughts ?

Up to you sir! You can always just go in with small size, worst case scenario you have a few bad days, lose a small amount of cheddar, then jump back in SIM. I'm thinking i'll do the same here pretty soon

[tntp45 53]

I like it ! @Christopher Patterson

[tntp45 53]

2020-8-14 <SIM>

One and Done to finish with a green week !

TRADE 1 $AMAT

5 Min ORB +3.12 R

Went long at 9:35:08.

A better job of partialing.

Plan was to trade for the first 90 minutes of the day.  Out at 9:42 AM (6:42AM PST!)

Afterthoughts:

Green for the week for 9.26R.  Four winning days out of five.

If I can maintain the discipline of calling it a day at +/- 3R for the day I might really be on to something here.

Contemplating going live on Monday with small Risk factors.

Planning on my strategy to just trade the open live and then switch to SIM for the rest of the day.

Weekend Goals.

     Dial in Montage.

     Reprogram Hotkeys on Keyboards for different Risk factors.

     Study Success Webinars.

     Practice in Replay.

Have a great weekend everyone !