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

[tntp45 53]

2020-8-17 (LIVE/SIM)

The plan was to go live today with a small Risk Factor 1R = $20.

A couple of silly errors, some HotKey errors and a few times I meant to trade Live I had my SIM account on (????)

TRADE 1 $JD (LIVE)

+0.25R

First Live trade.  Went short for a small move on $JD.  Small profit and out at break even.

TRADE 2 $NVDA (SIM)

15 Min ORB +1.19R

(How did the montage slip into SIM?)

Anyway,  Long at the 9:46 mark.  A few partials then out at break even.

TRADE 3 $NVDA (LIVE)

Reversal -0.26R

Probably should have taken a quick break.

Shorted the stock then out, quickly regretted it.

TRADE 4 $GOLD (LIVE)

ABCD -1.05R

Went long on $GOLD based on the 1 Min & 2 Min charts.  Should have waited for the 5 ?

Turned back on me -1.05R. 

TRADE 5 $JD (LIVE)

ABCD -0.77R

First, HotKey errors...

TRADE 6 $NVDA  (SIM)

ABCD/Continuation +0.44R

SIM ?

Nice ABCD pattern on the with a nice support at the 9ema on the 5 minute.

Obviously a lot of patience would have paid off nicely.

Afterthoughts:

+1.36R SIM

-1.58 LIVE

FIRST:  Take out hotkeys that do not apply with immediate strategy.

You can not underestimate the difference in psychology when you are in live.

Glad I walked away from the computer when I did.

Need to double/triple check the montage is in SIM/LIVE.

As of this point going to continue the plan to trade Live for the first 90 minutes then SIM for the rest of the day.

 

[Christopher 129]

i gotchu 

 

[tntp45 53]

5 minutes ago, Christopher Patterson said:

i gotchu

Thanks Chris !  Will give that a try.

You would think DAS would have more safe-guard for switching between Live and Sim.

[tntp45 53]

2020-8-19 <SIM/LIVE>

Plan was to trade the first 90 minutes of the market live.

Goal = 3R

TRADE 1 $GILD

One Minute ORB -1.5R

Montage slipped back into Sim (I know, I know..I set it up properly last night but must not have saved the desktop   )  So happy to have made that error...Better lucky then good !

Talk about slippage for another 1/2 an R !  Ouch !

Stopped out in 23 seconds, double ouch !

TRADE 2 $GILD

ABCD +0.56R

   

Two 1 minute charts here.  DAS drops the buy/sell markers after 9pm EST.  Also the red marks for prev day are gone as well.  Today I just couldn't journal any earlier.

First, a really wide stop below VWAP 57 cents if my math is correct.

Long at 66.84, Stop at 66.27.  Not only below the VWAP but way below.

Obviously didn't sell at the high of 67.50.  The only level on the chart was prev day close at about 69.

I should have realized .50 would be some type of natural level, just had my sights higher.

TRADE 3 $TGT

ABCD Chase .05R

Is Chase a strategy ?

I knew this had moved and I knew I was chasing.  But I was ok with that as I thought this was the #1 stock of the day and I was convinced it would move all day...My sell targets (pun, get it!) were 153, 155 and 158.

When the double top formed I lost it.  Also the level two did not look good.

Of course, had I held it would have held it even another 10 minutes it would be worth 2R.  And my conservative stops set me up good for that.

Should I have read something different from the price-action ?

 

But none of this is why I am beating myself up on this trade.  Let me tell you what it bothering me...

This was my number one stock of the day, but I switch to $GILD to play a one minute ORB.

If you look at my chart I noted a BEAUTIFUL LEVEL from the overnight trading session at 147.  Look at the support and resistance move this stock made in minutes 3, 4 & 5...What would  the R return be on that trade !?!?!?!   What is the lesson here ?   My game plan is to keep my eyes on one stock until the action wears out.  I was in $GILD so that was the plan.  Maybe if I have a strong number one stock, I should just watch it for the first thirty minutes or so.  Maybe I should learn to watch more than one at a time.  My second monitor has three charts for my number 2, 3 and 4 stocks on the watch-list.  I keep thinking I need one more monitor (more gear, always the answer!)  Maybe I should just be content I stuck with my original game plan.

I think the answer is; If you have a strong number one stock, hold and watch for 30 minutes minimum.

Afterthoughts:

SIM -1.5R

Live +.61R

Definitely gun-shy and nervous with real dollars even though they are $20 risks.  I did myself a dis-service practicing with R=$100 in SIM.  But I really thought that was what I would start with or be at quickly.  At least the $100 R hotkeys are out   Going to stick with the game plan on trading the first 90 minutes live and then switching to sim.  Planning on trading the entire trading day tomorrow.

Focus on 3:1 and better trades.  Excellent entries.  Natural dollar and half dollar resistance levels.

 

[tntp45 53]

2020-8-20 (SIM/LIVE)

Game Plan: Trade first 90 minutes Live then switch to SIM.

Goal +3R

Watchlist $INTC, $RKT, $AAL, $YNDX

TRADE 0: $INTC

One Minute ORB: Scratch

Order did not go through on DAS.  Error message, "Could not get a valid Price"

Trade 1: $INTC (SIM)

Reverse ABCD -0.40R

I had marked the level of 49.67 from overnight trading for Support & Resistance.

$INTC setup an ABCD pattern and I went short at 49.38 with the stop above my S&R line.

I panicked when it turned and covered for a 0.4R loss...should have held for a 3:1 win...

TRADE 2 $RKT (SIM)

ABCD -0.55R

Certainly came in long biased for this stock.  Thought it was setting up for ABCD went long at 9:44 then out one minute later when it was going the wrong way.  Maybe I should have given more with to the 9:43 down candle as it engulfed the 9:42 bullish candle.  I know that I discounted it though because the volume was much lower...

TRADE 3 $INTC *Trade of the day

Double Bottom Reversal +1.2R

$INTC put in a beautiful double bottom and I went long at 9:50.

Good partials a different levels.

TRADE 5 $INTC

Reversal -0.20R 

When I got out of Trade 4, I reversed my position to a short since it crossed the 9&20 on the 1 minute.

Wrong !  Bailed out quick.

TRADE 6 $AAL (SIM)

VWAP Breakthrough +0.44R

Ooohhh, I thought I was in Live...don't worry, I am banishing myself to SIM for a one week minimum...

$AAL breaks through VWAP on good volume.  Not a high R:R trade but I thought the price-volume-action fundamentals were super solid.

10% partial at 10:15 when it stalled, then I chickened out at 10:17 for another stall. 

TRADE 7 $AAL (LIVE)

Double Top Reversal -0.78R

Look at this beautiful double top on $AAL !

I took a very aggressive entry with an aggressive stop.

Needed a confirmation on the 2 minute candle...(Lesson of the day.  I might be a much better trader turning off the 1 minute chart and just trading the 2, 5 and 15...)

Multiple time frame confirmations....let the candles close...I know this !!!

Had to accomplish my family duties and came back to the computer later...

TRADE 8 $LYFT (LIVE)

Continuation -0.96R

A little humor here.  I was chatting with my buddy @Christopher Patterson on Discord in the afternoon.  If you have been following his journals, he is becoming a Master of Reversals...

Chris called this out as a reversal and of course I bet against that....oops...

Again, another decision based on just the one minute chart...

Shoot, turned my day from Green to Red on this one...

Went short at 12:34 thinking it would continue lower off the 9-20 and VWAP behind it...

Ahhhhh....!!!

Good news is that I feel I have some clarity by journaling again...

Great VPA lesson from Chris !  Thank you sir !

Afterthoughts:

-.053 R SIM

-0.75 R LIVE

-1.28 R Total

Need to go back to SIM until I have another good solid week.  No more live trading for a while.

Concentrate only on trades with a 3:1 minimum R:R (Hard Rule?)

Keep paying attention to and learning about VPA.

Continue to mark up and use overnight levels.  They have been right on these last two days !

Multiple time frame confirmation.  Wait for the 2 minute to close.

Multiple time frame confirmation.  Wait for the 2 minute to close.  This applies more after the first thirty minutes of trading.

Thinking I need to be journaling my stops points.  Need to balance some aggressiveness with good stops.

VPA VPA VPA

It is ok to not take a trade.

Double tops, Double bottoms are strong.  Wait for the two minute confirmation.

Forget bias.  Follow Price Action & VPA.

"Patient Aggressiveness" - Dr. Katz

Trying to get a little smarter every day...!

[tntp45 53]

2020-8-21 <SIM> Thank Goodness

Shoulda, Coulda...Woulda...

TRADE 1 $RKT

2 MIN ORB -1.1R

Went long and stopped out.  Brian in the chat said it was extended at this point

TRADE 2 $FL

Reversal -1R

Soooo...I thought I had a pretty good read on this one.

Big Volume bar at 9:43, stock stepped up on 1 and 2 minute charts.

Got wicked out at my stop at 9:45.  Turned out my read was good, would you have re-entered calling it a double bottom ?

Hmmmmmm.....

TRADE 3 $RKT

ABCD - Continuation - VPA +0.04R

Lots of good reasons to take this one long.

Big bullish candle at 9:52

10:01 10:02 Confirmation candles on the 1,2,5 & 15...

Went at 10:01:51 with a pretty conservative stop at 25.13

Took a 25% partial after it broke HOD...I thought about not adjusting my stop to because it was pretty close, but I did anyway...

Stopped out...stock broke target of 26...just a little salt in the wound as the moderators were watching the stock break 26 as I was out...

Would you have / Should I have entered calling it a pull back ?

Should I have not adjusted the stop ?

Afterthoughts:

-2.06R for the day

Sticking in SIM for a while...

Goals for the Weekend: Practice in Replay

Edited August 21, 2020 by tntp45

[tntp45 53]

2020-8-25 <SIM>

Light trading week for me.  Work commitments this week.

Planned on trading the open today for three trades only.

I did not do a good job with a watch-list today, just copying Carlos.

TRADE 1 $INTC

Chase -0.1R

This wasn't on my watch-list, but was on one of my chart windows left over from another day.  Wow!  What a breakout from the open.

Is chase a strategy ?  Haha

Bailed out after it wasn't going my way...

 

TRADE 2 $INTC

ABCD +0.1R

Re-fire on $INTC when it pulled back.  Only took a 10% partial at support/resistance level.  Stopped out at break even.  Should my first partials be 50% or 25% ?

TRADE 3 $AAL

15 Min ORB -1R

$AAL was breaking the VPA point of control and on the 1, 2, and 5 there was no lower levels.  I went short.

Really tight stop, picked up 1000 shares but stopped out in three seconds.

TRADE 4 $AAL

15 Min ORB +1.56R

Really liked this setup, so I re-fired with a wider stop.  When I was in the trade I saw the 100 SMA on the 15.  So I took some heavier partials and then out for a green trade.  Pushed my day to green.

Afterthoughts:

+0.5 R for the Day

I tried to jump into my computer closer to the market open.  This did not help me today, I was not as prepared as I like.

Need to make sure I have the overnight Support & Resistance levels marked.

Need to focus more on 3:1 trade minimums.

It still takes a while to journal even with just a few trades

Have a good week everyone !

Edited August 26, 2020 by tntp45

[Christopher 129]

"Re-fire on $INTC when it pulled back.  Only took a 10% partial at support/resistance level.  Stopped out at break even.  Should my first partials be 50% or 25% ?"

I did 20% partial at 2R for a while, it essentially pays for the commissions of the trade, and then you move your stop to b/e so it's a break even trade after commissions worst case scenario. 

[tntp45 53]

Thanks @Christopher Patterson !!

[tntp45 53]

2020-8-26

Plan is to only take three trades at the open...

TRADE 1 $ PLAN

1 MIN ORB  -1.2 R

A couple of warning from the moderators today.  Both regarding how poorly the NYSE stocks trade.  Carlos mentioned the wide spread.

I went long for an 1 Min ORB stopped out in 5 seconds for a -1.2R

OUCH ! Not the way you want to start the day ! No more trading this stock !

TRADE 2 $NIO

ABCD -0.03R

The more I look at this trade the more I like it.  Strong out of the gates.  Huge volume candle at the 9:33 mark.  I waited for a pullback.  Stock came back to VWAP and I went long.  10% partial and then stopped out.

TRADE 3 $CRM

Trend Trade +1.5R

Stock was strong on all charts 1,2,5 and 15.  I saw a pullback on the 1 & 2 where it held the 9EMA.

Partialed at whole dollar numbers.  Only took eight shares because of my small risk size.  Ran our of shares to partial rather quickly.  No upper levels so not feeling to bad about not holding longer.

Afterthoughts:

+0.25R for the day.

Don't trade NYSE stocks with wide spreads.

Two back to back green days for very small dollars.

Much better trading today, waiting for the pullbacks on these stocks.

 

 

[tntp45 53]

What's up #BBTFamily !

Sorry I have been checked out...started a new job on Aug 27...

Should be trading a few mornings this week...

Looking forward to the BBT Meetup in San Diego this week !

[tntp45 53]

2020-9-21 <LIVE>

Broke trading plan of one live trade then to SIM

TRADE 1 $ORCL

1 MIN ORB -1R

FAILED

 

TRADE 2 $INO

2 MIN ORB -1R

FAILED

 

A little rusty on the Hot Keys...only SIM trading until I get a little momentum back...

Also some type of error at the end which put me short in the stock...not sure what happened...

Back to SIM for a while...

[tntp45 53]

2020-9-28 <SIM>

Back in action for me.  I have been off the keyboard for a while trying to focus on my new job.

Game plan was to trade back in SIM today after experiencing a few loss days live with small Rs.

Re-motivated to focus back on trading after a great San Diego Meetup yesterday with some local traders and @Mike B !

Didn't like how I was setup today.

TRADE 1  $DKNG

2 Min ORB -1.35 R

Went short on DKNG.  Missed the 1 Minute ORB and went for 2.  Got stopped out.  Maybe a chase ?

Tough start to the day...

TRADE 2 $AAL

VWAP Reversal +0.09R

Poor risk vs. reward trade.  Went long for VWAP reversal, took partial then out at break even. 

TRADE 3 & 4 $CCL

TRADE 3

15 MIN ORB -1R

Went short with a huge downtrend on $CCL.  Hindsight 20/20 I could have used a confirmation candle on a shorter time frame...

TRADE 4 $CCL

Continuation

Went short again on $CCL thinking the downtrend would continue...

Not a clean entry against any resistance levels.  Definitely jumped the gun on this one...

Afterthoughts: -3.2R

Good to be in SIM !

Good to be back to getting up early and trading the open.

Need to shake some of the rust off and re-focus.

Will review the new video of 1 Min ORB.

Back to fight another day !

 

[tntp45 53]

2020-10-1 <SIM>

Stopped after one green trade.  +1.79R

TRADE 1  +1.79 R

$BBBY 1  MIN ORB

Went long on $BBBY for a one minute ORB.  Took partials along the way and held 10% back to the break even mark...

Stopped after one green trade...

I was looking through my watchlist after this trade but nothing was super clean.  Good discipline to not trade !

Good start to the day and the month !  Have a good one all !

Afterthoughts:

Good balance to trade the open while being committed to a full time job.  Feels good !

[Christopher 129]

Where you at Tom!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!