Neil Day Trading

[Neil 5]

I've been keeping a journal on SIM for the last few months. Now it's time to share it and eventually ask for feedback on some of the moves.

6/29/2020:  Hit daily target.

GOAL: Calm, organized, mindset. no fomo moves, look for clear signals

GOAL: A clear ORB move with multiple confirmations.

 

Watchlist:

BYND - Near an important level

FB - Catalyst and negative trend

 

BYND: Entered twice at 10% of BP. Need to change that to 20% of BP as I usually take a double position. Target was my level at pre-market review level of 129. In 

 

 

Recap:

Did a calm pre-market for BYND and FB to see levels.

AVOIDED FALSE POSITIVES. When other signals are indicating choppiness, lack of follow through.

Missed some moves and didn't feel FOMO. Stuck to looking for a clear ORB based on several factors including pre-market.

Picked a stock I knew with, BYND, FB. Understood their moves.

Only 3 trades.

ORB is hard to set a target in high speed.

Should have sold 50% and set the breakeven.

 

Edited July 1, 2020 by Neil

[Neil 5]

6/29/2020: Did not hit target.

 

Goal: Calm mindset.

Goal: ORB and ABCD trading strategy. After first 3 minutes, until 10:30am. Look for confirmation and multiple signals.

Goal: Move based on the chart, not the P&L.

Goal: Wait for CONFIRMATION on entry. Don't need to be EARLY to enter. Review the PLAYBOOK CONFIRMATIONS.

 

WKHS

Should have waited for more confirmation here. I sensed a downward trend, it was close to the VWAP, good R:R, but if I had waited for more confirmation about whether it was a false breakdown or not, I could have avoided it. I was greedy to catch the move near the VWAP. 

Respected the stop loss and exited, closed out the day as I hit daily loss limit.

Back to the playbook to study.

Edited July 1, 2020 by Neil

[tntp45 53]

I like your rule set !

[Neil 5]

7/1/2020: Did not hit target

Goal: Calm mindset.

Goal: Wait for CONFIRMATION on entry. Don't need to be EARLY to enter. Review the PLAYBOOK CONFIRMATIONS and MULTIPLE SIGNALS.

Goal: Set a clear target.

Goal: ORB and ABCD trading strategy. After first 3 minutes, until 10:30am. Look for confirmation and multiple signals.

 

Watchlist:

BYND (possible fallen angel, surge, drop, consolidate, go.)

AAL

FDX

UAL

INO

 

Todo: 

Traded calmly, waited for setups.

Tighter stops, respected them and moved on.

Multiple signals: Looked at 1, 2, and 5 minute, VWAP, and MAs before considering earlier trades. Fell off later as I chased.

Do more: Look for CONFIRMATION for a safer trade. 

Learn more about ABCD and VWAP reversal signals.

Started chasing after a few trades. Was experimenting a little, but ultimately the goal is to curb this completely and wait for good setups.

 

BYND: Looked for VWAP cross with high volume, high R:R, user error for quick sell, but entered after a bit of movement confirmation over VWAP. More confirmation to wait until it broke above the 2 min OR would have been ideal.

 

INO: WEAK entry on attempt 5 min ORB, didn't double check the 1 or 2 minute, which would have clearly showed potential for a downtrend. Always confirm multiple signals. Big lesson and while I lost on this trade, finally got it.

Later I made a few VWAP trend trades that were profitable when we broke the LOD, but high risk, not a great R:R. Was chasing.

 

 

FDX: Catalyst on earnings. 2 min ORB. Considered candles, levels, set a target for high of day, close to VWAP. A little risky when looking at the 1 minute. Entering at 160.5 would have given better confirmation.

 

 

UAL: VWAP Reversal, went through VWAP with high volume. Good 2R attempt with tight stop loss.

 

10 hours ago, tntp45 said:

I like your rule set !

Thank you. I'm trying to build a foundational mindset and playbook, and then carving it into my habits. My instinct is this is going to take a lot of time. Are you setting up a playbook too?

[Neil 5]

7/2/2020: 3X daily target, one and done.

Goal: Patient mindset: I don't need to make a move unless the setup is excellent.

Goal: One and done. Trade in first 30 minutes.

Goal: Wait for CONFIRMATION on entry. Don't need to be EARLY to enter. Review the PLAYBOOK CONFIRMATIONS and MULTIPLE SIGNALS.

GOAL: Multiple signals: Breaking away from VWAP, Opposite moving averages, no prior big wicks. 1,2 and 5 minute trends.

Goal: ORB and ABCD trading strategy. After first 3 minutes, until 10:30am. Look for confirmation and multiple signals.

 

Results:

What I did for today's successful trade:

• Reviewed previous trades from July 1, 2020.
• Looked at 1, 2 and 5 minute chart for patterns, to AVOID false positives.
• Looked at pre-market movement, and understood there could be a continuation of trend after sell off.
• Bought after confirmation right up to MA.
• Should have bought AFTER it moved past the MA for confirmation, it could have been a resistance, and it did hesitate.
• Sold half at target, then another half on next spike, then set stop at level below high VBP in case that was a resistance before another move.
• Today was a VERY green day, which made it much easier. The MA mistake could have cost me on a different day.

 

 

[tntp45 53]

Nice Trade !

[Neil 5]

7/7/2020: Positive, but only 30% of target based on other trades.

Goal: Patient mindset: I don't need to make a move unless the setup is excellent.

Goal: One and done. Trade in first 30 minutes.

Goal: Wait for CONFIRMATION on entry. Don't need to be EARLY to enter. Review the PLAYBOOK CONFIRMATIONS and MULTIPLE SIGNALS.

GOAL: Multiple signals: Breaking away from VWAP, Opposite moving averages, no prior big wicks. 1,2 and 5 minute trends.

Goal: ORB and ABCD trading strategy. After first 3 minutes, until 10:30am. Look for confirmation and multiple signals.

 

SQ - I should have only partialed at 122, and instead sold 100% to keep that last bit of profit. I went for a false VWAP breakout to make up for it. 

[Neil 5]

7/8/2020: Achieved daily target.

Goal: Calm, patient mindset. Wait for the "killshot".

Goal: 2 minute/3 minute orb.

Goal: Pre-research had great potential movement from SQ and WKHS. 

Goal: Multiple confirmations from 1, 2, and 5.

Goal: Wait for confirmation before moving.

Goal: As few trades as possible, one and done or 3 trades max.

 

Results:

SQ 2nd 1min candle broke away from the VWAP on the 1 minute, and I took it. Stop loss at VWAP.

Partialed twice and set breakeven stop, waited for a run, but took the profit on the potential downturn.

1 minute breakouts feel pretty challenging to read, but in this case this was the move I was waiting on before the market went so I took it. If you see a clear pattern you'd like to enter, I think it's OK to go in at the 2 minute. We'll see as I test this further in future trades.

 

[Neil 5]

7/9/2020: Achieved daily target.

Goal: Clear, calm mindset.

Goal: Finish in first 30 minutes if opp presents itself.

Goal:  Think about exits! As the moving averages converge, 2 minute cross over.

Goal: multiple signals and CONFIRMATION CANDLE. 🕯

 

Watch:

BABA

NKLA

BBBY

NIO

CCL

 

Results:

 

Wrong on first BABA move, observed the reversal due to shooting star, and turned direction with trade.

Avoided false positives, MAs in the way, too big wicks, lack of confirmation.

Waited for clear trends, reacted after confirmation.

Exited Baba at 5 minute moving average.

Observed levels.

Partialed and let it run instead of just taking profits.

Watching P&L too closely to hit daily target. Should watch the chart.

Looking at NKLA, it didn't look too reliable on 1 and 2 minute, just 5 minute! It went my way but it was kind of lucky, not a great entry. Took because of low R:R. But could have reversed. Should have went for BBBY instead, but the volatility wasa ttractive. It was moving away from MAs, and my target was 2 minute MA. But riskier than I like.

BBBY - amazing move potential on 10%... actually went down to 18%!!! Clear move. Missed it.

 

 

BABA

 

NKLA

Edited July 9, 2020 by Neil