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On 8/19/2020 at 10:59 PM, tntp45 said:

Great Trades !  Great Recaps !

Are you trading Live ?

Just looking at your day trades.  Do you typically just watch and trade one stock all day ?

Great reversal of position on $WMT !

Tom,

Thanks for the encouragement! These recaps are time consuming and I will look to be more concise as I get more experience, but for now I find a lot of value in the detail as I go back and review my trade journal. I am currently trading SIM as I just converted to DAS from TOS. I was trading live in TOS but haven't in DAS (purposely not funding IB account to keep me in SIM until Oct. 1st). I typically only keep a WL of 3-5 symbols per day, and 5 is a lot. I have a favorites list that I use a lot. The last two days it just so happened that I got a "one and done" trade so traded one symbol only.

Today 8.20.20 - I traded ROKU, LYFT, JD and TGT so not just one stock all day. However, one stock days are my highest PnL days.

WMT was fun, thanks!

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Posted (edited)

Hi all,

Made my first video on trade recap for 2020.8.21 $BABA.  

 

Edited by OTC
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Posted (edited)

DAY – 8.24.2020

Trades: 3

Symbols: 4; 5 (DT: AMD, MRNA, BABA, FSLY; Swing: IBM, WKHS, BA, APA, WDC)

 Psychology: Slept well, starting to get up a little later – meditation and shorter pre-market preparations.

 Goal for the day: Day Trades – Test the new William HK in the open for ORBs. Continuation on BABA and JD. Find catalyst stock. Swing Trades – Manage partials/exits and average downs according to pre-set plan.

 Daily Market Wrap-up:

SPY gapped up over the weekend and the ‘chopped’ around all day in a range, big push at the close to break HOD+.

image.thumb.png.ba5bdc830400c0172323444657b1b983.png

image.png.924353cc91d00eff6b992c2ffdf3e3a5.png

WL:

image.thumb.png.d1f7c820f2ed9dcfc80af7fa5980da5b.png 

DAY TRADES:

 

 

 

SWING TRADES:

WDC

No change. Entered position on this symbol after gap down due to ‘bad’ earnings, has spent that last 3 days trying to climb but being held down. Has fallen below $35, I will average down at below $34.

IBM:

No change. Still holding 33% of position for the break of $130. Catalyst: 2 upgrades: Argus Research (buy from hold, $155) and Zacks Investment Research ($134 from $131, remains neutral).

WKHS

Recent two day ‘pop’ on unusual options action to the high side. Government fiscal year ends end of September, should here if they win some or all the USPS contract ($6B). Holding my position as institutional investors are still holding for long-term growth story. Daily volume is low but PA holding $15.15 support level.

SAVE

No change. Still holding with average price above $20, poor decision to buy and hold overnight on parabolic move (daily chart) back in early June. The upside is that SAVE is one of the strongest airline stocks in the current climate. Their cash burn rate is significantly lower than other airlines and their niche of catering to domestic vacation travelers should help them come out better once a COVID vaccine is announced and airlines get to flying again. I like SAVE for a hold until the end of 2020 (depending on November elections).

APA

No, change. Still holding for move above $20, entry below $10 (5.14.20). As a former O&G engineer I ‘know’ (speculative) that Apache is one of the best companies in their industry, with clean P/L, low debt and strong potential based on diversity of assets – onshore and offshore, domestic and international.

Final Review:

Goal for Day: 6/8, PASS

1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – PASS

2. Partial/average down or exit swing positions (according to pre-plan) – PASS

3. Work on better entries – PASS

4. Only trade the symbols on your WL – PASS

5. Trade without P/L on screen or in mind – PASS

6. On green symbol stop trading it for the day if lost any amount of green P/L – PASS

7. 3SYO – PASS

8. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS

#5 and #8 are game changers for my confidence and trade management

Things I did well: Not move SL to BE so soon on watching L2 and PA and MAs.

Things I did poorly: Need to trust your entry on confirmation of level or MA or what you are trading off of.

Edited by OTC
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Posted (edited)

DAY – 8.25.2020

Trades: 2

Symbols: 2; 5 (DT: MRNA, BABA; Swing: IBM, WKHS, APA, WDC, SAVE)

Psychology: Slept well, starting to get up a little later – meditation and shorter pre-market preparations.

Goal for the day: Day Trades – Test the new William HK in the open for ORBs. Continuation on BABA. Find catalyst stock. Swing Trades – Manage partials/exits and average downs according to pre-set plan.

Daily Market Wrap-up & Week in Review:

SPY gapped up overnight, pressed down most of the day and then made its run around noon. Sector rotation occurred, Healthcare which was weak yesterday had a good day. Technology and Finance both pushed higher on continuation from yesterday.

image.thumb.png.a55c89f3f6423d8aac5ffac08ca99735.png

image.png.d949920eacfa947f57220fe17d4a0f2f.png

WL:

image.thumb.png.0ad984fd083bd8b6360f2d5252611d1c.png

DAY TRADES:

image.thumb.png.f7ea9efb1c13e15f6ed1a94685334360.png

 

SWING TRADES:

WDC

No change. Entered position on this symbol after gap down due to ‘bad’ earnings, has spent that last 3 days trying to climb but being held down. Has fallen below $35, I will average down at below $34.

IBM:

No change. Still holding 33% of position for the break of $130. Catalyst: 2 upgrades: Argus Research (buy from hold, $155) and Zacks Investment Research ($134 from $131, remains neutral).

WKHS

Breakout day today leading up to USPS announcement? Recent two day ‘pop’ on unusual options action to the high side. Government fiscal year ends end of September, should here if they win some or all the USPS contract ($6B). Holding my position as institutional investors are still holding for long-term growth story. Daily volume is low but PA holding $15.15 support level.

image.thumb.png.c08c4909226494ea4e28ad7e63312260.png

SAVE

No change. Still holding with average price above $20, poor decision to buy and hold overnight on parabolic move (daily chart) back in early June. The upside is that SAVE is one of the strongest airline stocks in the current climate. Their cash burn rate is significantly lower than other airlines and their niche of catering to domestic vacation travelers should help them come out better once a COVID vaccine is announced and airlines get to flying again. I like SAVE for a hold until the end of 2020 (depending on November elections).

APA

No, change. Still holding for move above $20, entry below $10 (5.14.20). As a former O&G engineer I ‘know’ (speculative) that Apache is one of the best companies in their industry, with clean P/L, low debt and strong potential based on diversity of assets – onshore and offshore, domestic and international.

Final Review:

Goal for Day: 6/8 FAIL

1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – PASS

2. Partial/average down or exit swing positions (according to pre-plan) – PASS

3. Work on better entries – PASS

4. Only trade the symbols on your WL – PASS

5. Trade without P/L on screen or in mind – FAIL

6. On green symbol stop trading it for the day if lost any amount of green P/L – PASS

7. 3SYO – FAIL

8. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS

#5 and #8 are game changers for my confidence and trade management

Things I did well: Good recognition of MA bounces to reverse my position. Better job of looking for 9 EMA on the 5-min chart extensions.

Things I did poorly: Poor continuation of comparing candle wicks/body size to other same type candles - volume comparison to recognize anomalies (VPA comparisons). 

Edited by OTC
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DAY – 8.26.2020

Trades: 4

Symbols: 3; 5 (DT: BABA, MSFT, NIO, FB, CRM; Swing: IBM, WKHS, BA, APA, WDC)

Psychology: Slept well, starting to get up a little later – meditation and shorter pre-market preparations.

Goal for the day: Day Trades – Test the new William HK in the open for ORBs. Continuation on BABA. Find catalyst stock. Swing Trades – Manage partials/exits and average downs according to pre-set plan.

Daily Market Wrap-up: SPY continued to rip higher, but it was a day with few reversals, basically it was a trend day. Sectors were led by Communication Services and Technology. Energy fell -1.766% due to hurricane in the GOM threatening to affect refiners in Texas and Louisiana.

image.thumb.png.e6e74e9a8c9fd4c303ccba115ec09b38.png

image.png.f07e2e5b8e360d907666a90231b5e583.png

WL:

image.thumb.png.f1dfa873bc4cdfa22939890844b87e09.png

DAY TRADES:

 

 

SWING TRADES:

No changes on swing trades, still holding WKHS, APA, SAVE, IBM, and WDC.

Final Review:

Goal for Day: 4/7, FAIL.

1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – FAIL

2. Partial/average down or exit swing positions (according to pre-plan) – PASS

3. Work on better entries –FAIL

4. Only trade the symbols on your WL – PASS

5. Trade without P/L on screen or in mind – FAIL

6. On green symbol stop trading it for the day if lost any amount of green P/L – PASS

7. 3SYO – FAIL

8. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS

#5 and #8 are game changers for my confidence and trade management

Things I did well: Good recognition of 5-min MAs pinch and capitalize in range trades. Good recognition of trend play symbols for closing hour scalps.

Things I did poorly: Need to get better entries on Parabolic Reversal, pay attention to whole dollar levels and exhaustive volume (comparison to earlier VPA similar candle body/volume). Need to stop moving SL in hopes that trade goes ‘my way’.

Edited by OTC

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DAY – 8.27.2020

Trades: 3

Symbols: 3; 5 (DT: AMD, NIO, ABT, JD; Swing: IBM, WKHS, BA, APA, WDC)

Psychology: Slept poorly, got up later to mitigate poor rest last night.

Goal for the day: Day Trades – Work on 2-min and/or 5-min ORBs. Continuation on NIO (VOL = 363MM 8.26.20). Find catalyst stock. Swing Trades – Manage partials/exits and average downs according to pre-set plan.

Daily Market Wrap-up & Week in Review:

SPY chopped around, although there was a major announcement about Abbot Laboratories FDA approval for 15-min fast COVID19 test. Financials and Real Estate led the way with Communications Services taking the biggest loss after ripping higher to lead sectors yesterday.

image.thumb.png.b982fc7d2ad01df4d4ed03e6476230b7.png

WL:

image.thumb.png.9de6e917a52ceb350610bbd6145fbbcd.png

DAY TRADES:

 

 

SWING TRADES:

No changes.

Final Review:

Goal for Day: FAIL, 4/7

1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – NA, working on developing ORB (2-min and 5-min, SIM)

2. Partial/average down or exit swing positions (according to pre-plan) – PASS

3. Work on better entries – PASS

4. Only trade the symbols on your WL or moderator's WL – PASS

5. Trade without P/L on screen or in mind – FAIL

6. On green symbol stop trading it for the day if lost any amount of green P/L – FAIL

7. 3SYO – FAIL

8. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS

#5 and #8 are game changers for my confidence and trade management

Things I did well: Great recognition of A+ set-up on NIO Parabolic Reversal (PDC, weekly level, and L2 wall) - good courage to take large position on this set-up and to SIFI (set it and forget it) trade. Good job of exiting out of failed ORBs before 1R loss. 

Things I did poorly: When 10.5X above daily goal give yourself a specific amount to 'play with' and ADHERE TO THE AMT RULE. Overtrading.

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DAY – 8.28.2020

Trades: 4

Symbols: 5; 5 (DT: AMD, BABA, ROKU, QQQ, WMT; Swing: WKHS, IBM, SAVE, APA, WDC)

Psychology: Slept great, confidence high, still getting up later to reduce trading anxiety. Did not meditate before trading activity.

Goal for the day: Day Trades – Work on 2-min and/or 5-min ORBs. Continuation on BABA and/or find catalyst stock from pre-market stocks in play. Find 1-3 Parabolic Reversals (short bias) and at least 1 Climactic Reversal (long bias). Swing Trades – Manage partials/exits and average downs according to pre-set plan.

Daily Market Wrap-up & Week in Review:

SPY continued to move to all-time highs Monday through Wednesday and consolidated on Thursday followed by a pullback over night leading into Friday and closing the week just shy of Thursday’s HOD. All sectors were in the positive on Friday, lead by Basic Materials and Energy after news that hurricane Laura did not cause as much damage to, Texas and Louisiana refineries as expected. With the exception Utilities and Healthcare, all sectors closed the week with strong bullish moves. Healthcare’s weak move on Friday and for the week was surprising following Abbot Laboratories FDA approval of a 15-min COVID19 test.

image.thumb.png.75c58bdb60ff23a2969795cf5c984eee.png

 

image.png.069b1f0d75bc071665ed448af4e5cde0.png

WL:

 image.thumb.png.db48b679990b3d8f87db7194c26e3a9a.png

image.thumb.png.cf84c98c5a0479b9b8b74c028621781a.png

DAY TRADES:

 

 

SWING TRADES:

WDC

Today, Friday (8.28.2020) WDC made a +7.38% move to the upside breaking above the 9 EMA and closing above the 20 SMA on the daily chart. I reduced my position by half at $37.79. Original target was $37.99 but with a $2.60 move it peaked at $37.86. Next target is $40.

image.thumb.png.dae650b1f0548d56f07c57b27ac1c3d6.png

IBM:

No change. Still holding 33% of position for the break of $130. Catalyst: 2 upgrades: Argus Research (buy from hold, $155) and Zacks Investment Research ($134 from $131, remains neutral).

WKHS

Still holding small position for the USPS contract announcement, volatility has been quite high on options implied volatility. Target sell price is the break of $30. I am currently trading this symbol on house money.

SAVE

No change. Still holding with average price above $20, poor decision to buy and hold overnight on parabolic move (daily chart) back in early June. The upside is that SAVE is one of the strongest airline stocks in the current climate. Their cash burn rate is significantly lower than other airlines and their niche of catering to domestic vacation travelers should help them come out better once a COVID vaccine is announced and airlines get to flying again. I like SAVE for a hold until the end of 2020 (depending on November elections).

APA

No, change. Still holding for move above $20, entry below $10 (5.14.20). As a former O&G engineer I ‘know’ (speculative) that Apache is one of the best companies in the industry, with clean P/L statements, low debt and strong potential based on diversity of assets – onshore and offshore, domestic and international. Recently announced major discovery off the coast of Suriname in Block 58 (50/50 WI partnership with Total).

Final Review:

Goal for Day: 7/8, PASS

1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – PASS

2. Partial/average down or exit swing positions (according to pre-plan) – PASS

3. Work on better entries – PASS

4. Only trade the symbols on your WL, BBT pre-market stocks in play, or TI scanner – PASS

5. Trade without P/L on screen or in mind – FAIL

6. On green symbol stop trading it for the day if lost any amount of green P/L – PASS

7. 3SYO – PASS

8. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS

#5 and #8 are game changers for my confidence and trade management

Things I did well: Great recognition of MAs to take partials followed by another entry after MAs were overcome and held (ceiling becomes floor). Good kob of sticking with strategy after missing two entries and then catching a big PR (short bias).

Things I did poorly: Still need to define overtrading (dynamic, day-to-day), but while working on 2-min/5-min ORB (SIM) too many entries and bail, still holding too much bias - let the market tell you the direction of ORB.

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Posted (edited)

DAY – 8.31.2020

Trades: 3

Symbols: 4; 5 (DT: AMD, INTC, WMT, RKT; Swing: IBM, WKHS, BA, APA, WDC)

Psychology: Slept well, meditation included a psychology podcast.

Goal for the day: Day Trades – Work on 2-min and/or 5-min ORBs. INTC catalyst and/or find catalyst stock from pre-market stocks in play. Swing Trades – Manage partials/exits and average downs according to pre-set plan.

Daily Market Wrap-up & Week in Review:

SPY was range bound today. Bears won the sentiment battle today, 66% to bulls 34% (yellow box). All sectors were red except for Healthcare (+0.41%).

image.thumb.png.bbdcd8a33c29f27fcb5e6804d673440f.png

image.png.8b95c61ae9f658147eae1dc14c170080.png

WL:

image.thumb.png.f15f50e020e3fc9467fc919df67d77ce.png

DAY TRADES:

AMD

Overall grade = B, Winner.

Catalyst: Continued strength, stays on my favorites list, noticed it was trending.

Strategy: Parabolic Reversal and Trend Continuation

Trade Management: Overall, good. Good recognition of 'trend day' after shorting the stock and getting a decent short to 9 on the 5. Reversed my position for trend continuation. Slightly overtraded but had good understanding of PA and VPA.

NI – Trust your small entry and wait for confirmation to add to position on PR  (short bias).

 

INTC

Overall grade = D, Loser

Catalyst: At bottom of daily range and strength continuation from Friday. News catalyst for tomorrow at noon, announcing new product line.

Strategy: Bottom Reversal

Trade Management: Overall, poor. I had this symbol on my overnight WL and I traded it with NO commitment, impatient because I had a long bias. 

NI – Let the stock tell you where it wants to go, do not let your preM or overnight bias drive your trade.

JPM

Overall grade = A, Winner

Catalyst: None, sold off all day, caught technical reversal.

Strategy: Climactic Reversal

Trade Management: Overall, poor. I had this symbol on my overnight WL and I traded it with NO commitment, impatient because I had a long bias. 

NI – Reduce 'panic partials' on consolidation or small PB - regardless of RVOL, let L2 tell you where the PA is going, use VPA to confirm move.

SWING TRADES:

No changes

Final Review:

Goal for Day: 6/8, PASS

1. Only trade the opening 5-mins if consistently trading symbol and confident with its move –  FAIL

2. Partial/average down or exit swing positions (according to pre-plan) – PASS

3. Work on better entries – PASS

4. Only trade the symbols on your WL, BBT pre-market stocks in play, or TI scanner – PASS

5. Trade without P/L on screen or in mind – FAIL

6. On green symbol stop trading it for the day if lost any amount of green P/L – PASS

7. 3SYO – PASS

8. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS

#5 and #8 are game changers for my confidence and trade management

Things I did well: Good recognition of 'trend day' PA on AMD, I have a tendency to miss this because of contrarian perspective, force shorts and get chopped around.

Things I did poorly: Do not allow your preM or overnight bias to dictate your trading (INTC), Let the market and symbol tell you what it will do.

Edited by OTC

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DAY – 9.1.2020

Trades: 3

Symbols: 5; 5 (DT: INTC, WKHS, BA, SQ, WMT; Swing: IBM, WKHS, BA, APA, WDC)

Psychology: Slept well, no mediation today.

Goal for the day: Day Trades – Work on 2-min and/or 5-min ORBs. INTC catalyst and/or find catalyst stock from pre-market stocks in play. Swing Trades – Manage partials/exits and average downs according to pre-set plan.

Daily Market Wrap-up & Week in Review:

SPY pushed to new highs, turned out to be a trend day after the SPY, it broke out of consolidation around 2 pm. Sectors were led by Basic Materials and Technology. We are currently seeing the tale of two trends as the large caps (SPY) presses higher but the small and mid caps (IWM) broke trend earlier in the month and are now trading sideways.

image.thumb.png.c482b4ee6f64cb40d4103dc93854da27.png

image.png.5e461fee884611891d34e00b4f220f76.png

WL:

image.thumb.png.cfca788c420bcc8274b16064e5ee3209.png

DAY TRADES:

 

 

SWING TRADES:

No changes on SAVE, IBM, WDC, or APA.

WKHS

Made a strong move today to close above $20, took some profits off at $20.50. Holding the remainder for the break of $30, trading with house money.

Final Review:

Goal for Day: 7/9, PASS

1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – PASS

2. Partial/average down or exit swing positions (according to pre-plan) – PASS

3. Work on better entries – PASS

4. Reduce amount of premature entries due to not waiting for strategy set-up to 'occur' and 'confirm' – FAIL

5. Only trade the symbols on your WL, BBT pre-market stocks in play, or TI scanner – PASS

6. Trade without P/L on screen or in mind – PASS

7. On green symbol stop trading it for the day if lost any amount of green P/L – PASS

8. 3SYO – FAIL

9. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS

#6 and #9 are game changers for my confidence and trade management.

Things I did well: Stuck with a symbol that 'looked' to be setting up for my strategy - cautiously aggressive. Good rebound trades, adding to position to make up loses and more (not revenge trade). Good recognition of consolidation (accumulate position before bigger move).

Things I did poorly: Need to do a better job of being patient and taking the trade when and only when the set-up is presenting itself. Stop having bias on trades (INTC), two days in a row 'wanting' this symbol to make a big move (Let the market tell you which way the PA is going). 

Edited by OTC

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DAY – 9.2.2020

Trades: 2 

Symbols: 2; 5 (DT: CORT, DKNG; Swing: IBM, WKHS, BA, APA, WDC, SAVE)

Psychology: Slept well, no mediations today, but I read some inspiration text from one of my favorite psychology books.

Goal for the day: Day Trades – Work on 2-min and/or 5-min ORBs. Find 1 or 2 parabolic reversals or climactic reversal. Find catalyst stock from pre-market stocks in play. Swing Trades – Manage partials/exits and average downs according to pre-set plan.

Daily Market Wrap-up & Week in Review:

SPY trended higher all day – it is getting a little bit scary at this point, need a pullback. Small-caps made a move higher after trading sideways for a few days ($IWM had an influx of $8.4B over the last few days). $QQQ has seen an outflow of $5.56B in the same timeframe. The sectors were led by Utilities and Communication Services. All sectors with the exception of Energy were in the ‘green’ today.

image.thumb.png.97da9ed50b2634e91e2c95a45212b741.png

image.png.ede631ebf350aa490fef74e8849b7cdf.png

WL:

image.thumb.png.b2e04808cf5189412962fee25f8fb1f6.png

DAY TRADES:

DKNG

Overall grade = B, Winner

Catalyst: Michael Jordan joining as stake-holder, preM gap-up on this catalyst.

Strategy: Climactic Reversal

Trade Management: Overall, good. Still took some premature entries forcing the reversal, but overall once the move finally occurred I did not chase it but waited for the PA to hold the 50 SMA on the 1-min chart to confirm move.

NI – Reduce premature entries, use VPA comparative candle body/volume look backs to reduce the premature entries.

 

CORT

Overall grade = B, Winner

Catalyst: Parabolic move on unknown catalyst, +8000% RVOL.

Strategy: Momentum Scalp, Extreme Reversal, and Trend Reversal

Trade Management: Overall, good. No premature partials, good recognition of Orb to downside before taking the reversal and catalyst strength I was looking for. It was a one and done day 8X daily goal.

NI – Trust your entry on confirmation of level or MA or what you are trading off of, this trade was ~12R because SL would have been so small.

 

SWING TRADES:

WDC and IBM both made strong moves today, IBM is looking good with hedge fund and 'big' money rotating back into dividend and traditional long-term stocks.

image.thumb.png.49d9842a898918c5af4d83ac7581496f.png

image.thumb.png.556c46e8dcf91866655faf53711245d6.png

Final Review:

Goal for Day: 6/9, PASS

1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – PASS

2. Partial/average down or exit swing positions (according to pre-plan) – PASS

3. Work on better entries – FAIL

4. Reduce amount of premature entries due to not waiting for strategy set-up to 'occur' and 'confirm' – FAIL

5. Only trade the symbols on your WL, BBT pre-market stocks in play, or TI scanner – PASS

6. Do not trade with P/L on screen or in mind – PASS

7. On green symbol stop trading it for the day if lost any amount of green P/L – PASS

8. 3SYO – FAIL

9. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS

#6 and #9 are game changers for my confidence and trade management.

Things I did well: Did not take panic partials based on only on PnL, rather they were also technical partials even if the move continued in my favor.

Things I did poorly: Still took too many premature entries on set-ups that were not quite ready, see needs improvement comments to correct and eliminate this.

Needs Improvement: Last few weeks I was doing a good job of performing comparative VPA checks – before entering a position I was comparing similar volume/candle bodies others previously formed during the day (1-min and 2-min chart). This was helping me get better entries. I NEED TO GET BACK TO DOING THIS CONSISTENTLY.

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DAY – 9.3.2020

Trades: 2

Symbols: 2; 5 (DT: RKT, CCL; Swing: IBM, WKHS, BA, APA, WDC)

Psychology: Slept terrible, woke up at 2 a.m. feeling like I had slept 8 hrs. Got up at 7:30 am CST to sleep a little more. Still had my routine of coffee, oatmeal and 6 egg white breakfast. Confidence level was good, but cautious due to lack of sleep.

Goal for the day: Day Trades – Work on 2-min and/or 5-min ORBs. Find catalyst stock from pre-market stocks in play. Swing Trades – Manage partials/exits and average downs according to pre-set plan.

Daily Market Wrap-up & Week in Review:

SPY and everything else sold off all day, the market needed a good pull back. The SPY illustrated two legs lower. The sell-off took most of the gains accrued over the last two weeks. Oddly enough, Energy sector, which has been the perennial ETF at the bottom of the list was actually at the top today.

image.thumb.png.b787e42f5740421c850388305f91e448.png

image.thumb.png.5cdefe9b933eaf12cfdc818ce20f03ff.png

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WL:

image.thumb.png.9cc03d78e86b964b8f56c00429dc85c4.png

DAY TRADES:

CCL

Overall grade = C, Winner, 3R

Catalyst: Gap-up, Institutional money rotating in on value buy?

Strategy: 2-min ORBU

Trade Management: Overall, good. Slightly late entrance  and failed to add to position on ABCD. I had great preM analysis of 5-min ABCD forming, saw the gap on the daily chart to fill (up to $19), however I am still skiddish on ORBs, not executing the trade 'on time'.

NI – Trust your analysis and do NOT hesitate on your entry - 'pull the trigger'

RKT

Overall grade = A+, Winner, +10R

Catalyst: None in particular, morning gappers list and high RVOL.

Strategy: Climactic Reversal

Trade Management: Overall, great. I am my own worst critic so to give a trade and A+ is awesome and rare. The entry off the daily chart was excellent, the add on confirmation suites the overall market sentiment. The partials were all technically sound and not PnL driven.

NI – Nothing. To be nit-picky, I could say that my add was late but given that the market was selling off all day I wanted a strong 'confirmation' of the move.

SWING TRADES:

No changes.

Final Review:

Goal for Day: 9/9, PASS

1. Only trade the opening 5-mins if consistently trading symbol and confident with its move – PASS

2. Partial/average down or exit swing positions (according to pre-plan) – PASS

3. Work on better entries – PASS

4. Reduce amount of premature entries due to not waiting for strategy set-up to 'occur' and 'confirm' – PASS

5. Only trade the symbols on your WL, BBT pre-market stocks in play, or TI scanner – PASS

6. Do not trade with P/L on screen or in mind – PASS

7. On green symbol stop trading it for the day if lost any amount of green P/L – PASS

8. 3SYO – PASS

9. Enter trades with small position, upon confirmation of ‘move’ add to position on PB – PASS

#6 and #9 are game changers for my confidence and trade management.

Things I did well: Did not take panic partials based on only on PnL, rather they were also technical partials even if the move continued in my favor. Did not have premature entries (entries were VPA founded).

Things I did poorly: Still took too many premature entries on set-ups that were not quite ready, see needs improvement comments to correct and eliminate this.

Needs Improvement: Honestly hard to find something I did poorly today. I am very hard on myself so this is rare.

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