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DAY – 9.4.2020

Trades: 3

Symbols: 4; 5 (DT: JPM, BAC, DKNG, AMD; Swing: IBM, WKHS, BA, APA, WDC)

Psychology: Slept very well, routine breakfast and preM show paired with PreM chart preparation. No meditation or breathing exercise.

Goal for the day: Day Trades – Work on 2-min and/or 5-min ORBs. Trade $DKNG based on last night’s thesis preparation – stay flexible depending on market sentiment. 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 showed signs of weakness starting at 6am, it was trading on low volume and below VWAP. It had a major sell-off that started yesterday (9.3.2020), a much-needed correction – healthy. All sectors were red except for Basic Materials. However, Financials (XLF) made a strong move after the SPY ‘hit’ bottom, XLF basically closed at break-even. The latest ISM data indicates the manufacturing and service sectors are growing. The latest employment report shows the economy is still adding jobs at a decent rate. The SPY broke trends in multiple time frames – the Bears are making a strong effort to turn the overall market sentiment. Will the printers be enough to keep the rally going next week? Of significance, notice the volume on the 3-month SPY chart, increasing volume while the SPY is selling off.

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WL:

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DAY TRADES:

 

 

SWING TRADES:

No changes. WKHS making a strong move again today to close above $19 dollars, lets see if my thesis of $25-$30 holds up. Still holding shares for the break of $25; trading this with house money.

Final Review:

Goal for Day: 5/9, 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 – 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 without P/L on screen or in mind – FAIL

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: Persistence, I think I went red to green 2 or 3 times, finished the day 4X daily green, but it was a grind.

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. VPA comparison was tough today. Overtraded.

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 with 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.

Edited by OTC

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DAY – 9.8.2020

Trades: 3

Symbols: 3; 5 (DT: JPM, CCL, NKLA; Swing: IBM, WKHS, BA, APA, WDC)

Psychology: Slept very well, routine breakfast and preM show paired with PreM preparation. No meditation or breathing exercise.

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:

SPY traded in a $4 range most of the day before selling off in the last 2 hours. Small caps showed mostly weakness and the VIX did not trade as expected given how the SPY traded, VIX sold off most of the day, UNUSUAL!! Expect a big SPY rebound tomorrow !?

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WL:

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DAY TRADES:

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

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: Good job of sticking with the trade and getting the entry for Climactic Reversal (JPM). Good recognition of triple top reversal opportunity and on both shorts (CCL, NKLA) did not take panic partials.

Things I did poorly: Still took a few panic partials on CR, need to pay closer attention to volume spike and partial on those candles and not on low volume PBs.

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 to like candles 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.

Edited by OTC

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DAY – 9.9.2020

Trades: 2

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

Psychology: Slept very well, routine breakfast and preM show paired with PreM preparation. No meditation or breathing exercise.

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:

Today, the market staged a rebound. The SPY gapped up overnight, then illustrated a trend day and sold-off at the close. The QQQ was up nearly 3% while other large-caps made gains too. Small-caps also participated. However, there wasn't much of a sell-off in the Treasury market. All sectors were higher, the only difference was the degree. Tech led the way, gaining a bit more than 3%. Basic materials and consumer discretionary rounded out the top three spots. At the bottom are financials (which are dealing with portfolio losses), real estate (which is dealing with the non-payment of rent), and energy (which is being hurt by weak oil prices).

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WL:

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DAY TRADES:

 

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SWING TRADES:

No changes

Final Review:

Goal for Day: 5/9 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. 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 without P/L on screen or in mind – FAIL

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

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 all 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.

Edited by OTC

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DAY – 9.10.2020

Trades: 1, no video recaps created today.

Symbols: 1; 5 (DT: PTON; Swing: IBM, WKHS, BA, APA, WDC)

Psychology: Slept poorly, routine breakfast and preM show paired with PreM preparation. No meditation or breathing exercise - need to get back on track with this.

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 gapped up overnight, then illustrated sold off all day.

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WL:

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DAY TRADES:

PTON

Overall grade = B, Winner

Catalyst: Strong earnings reported after hours.

Strategy: 15-min ABCD

Trade Management: Overall, good. Good recognition of L2 bids holding up price action at $93.25 and again at $94.00

NI – The stop out at BE on trade #1 should have been an add, trust your L2 read even if its approaching your BE SL, in this case SL should have given a little more room (huge bids kept stacking up below the PA supporting the price levels.

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SWING TRADES:

No changes

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

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 trade all day due to market not showing my set-ups. 

Things I did poorly: Not trust the L2 as it was showing bids to support move higher, I bailed on position to not lose profits.

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.

WL (possible plays tomorrow):

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DAY – 9.11.2020

Trades: 3, Green Week

Symbols: 5; 5 (DT: AAPL, NKLA, AMD; Swing: IBM, WKHS, BA, APA, WDC, SAVE)

Psychology: Slept well, routine breakfast and preM show paired with PreM preparation.

1.       Did you take 20-30 deep gut, clear mind breathes? – new for this coming week

2.       Did you review your Daily Psychology Dose? – new for this coming week

3.       Did you prepare your pre-M checklist for ORB? – new for this coming week

a.       Did you rehearse long and short possibilities? – new for this coming week

4.       Did you review your Before Trade Entry Questionnaire? – new for this coming week

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 sold off after a morning push up and then had a climactic reversal at 13:15 pm due, most likely, to $AAPL’s 1.5M shares sitting at $110 on the bid. Did $AAPL reverse the whole market? Basic Materials and Industrials saw strong moves on Friday, indicating big money is rotating into long-term equities. Basic Materials was also the only sector green on the week with technology sitting at the bottom at -5.16%. Technology was overdue for a healthy PB, IMO.

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WL:

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DAY TRADES:

AAPL ( I did not get to this journaling session until Sunday, 9.13.2020, so DAS has been reset and I did not take Snag-it.)

Overall grade = A+, Winner, 4R

Catalyst: 1.8M share wall sitting at $110.00

Strategy: Climactic Reversal

Trade Management: Overall, good. Wall of 1.8M shares sitting on bid at $110.00, I took entry on PB to lowest $ after reversal off of $110.06. fist partial at 50 SMA on the 1-min and 2nd partial/all out at 100 SMA on the 1-min.

NI – Nothing, that wall set-up a ‘no brainer’ trade. If anything, I should have held shares for a bigger move up VWAP, would have gotten another dollar.

 

NKLA ( I did not get to this journaling session until Sunday, 9.13.2020, so DAS has been reset and I did not take Snag-it.)

Overall grade = F, Winner - Grade is based on not taking pictures of trade and not journaling in a timely manner.

 

 

SWING TRADES:

No changes at all this week. However WKHS is very strong, my swing is +65% gain to date. WHKS is now trading in a new range above $21.50, Stochastics are pointing upward and RSI on the daily is not yet showing overbought.

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Final Review:

Goal for Day: 8/9, 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 without P/L on screen or in mind – FAIL. Have been doing very poorly on this, looking at it after every trade. 

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: Persistence, not giving up on a trade set- up where I was slightly early on my 1st entry. 

Weekly:

VPA: On Friday I did a better job of trading the open using the tape and L2.

Big Picture: I did a good job of recognizing a trend day and not fighting it.

Journal: I have not broken consistency in journaling habits.

Things I did poorly: I have re-lapsed into trading with PnL in mind and on screen.

Weekly:

Rules: I am back at consistently checking PnL throughout the day, after every trade.

Discipline: I am overtrading, taking set ups with poor risk/reward.

Tactic: I need to rehearse in my mind ALL the possibilities of a stock’s PA for an ORB.

Needs Improvement: Must stop trading with PnL in mind and on screen (fear and greed). I still feel like I am overtrading at times although my PnL is consitently showing green days, need to establish criteria and definition for overtrading.

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Edited by OTC

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DAY – 9.18.2020

Trades: 3

Symbols: 3; 5 (DT: AMD, SPY, DKNG; Swing: IBM, WKHS, BA, APA, WDC)

Psychology: Slept well, routine breakfast and preM show paired with PreM preparation.

1.       Did you take 20-30 deep gut, clear mind breathes? – PASS

2.       Did you review your Daily Psychology Dose? – FAIL

3.       Did you prepare your pre-M checklist for ORB? –  PASS

a.       Did you rehearse long and short possibilities? –  PASS

4.       Did you review your Big Picture document? – FAIL

Goal for the day: Day Trades – Work on 2-min ORBs and find one or two PRs and CRs; Swing Trades – Manage partials/exits and average downs according to pre-set plan

Daily Market Wrap-up & Week in Review:

SPY has fallen below the 50 SMA on the daily, not a good sign for bullish sentiment. It was range bound and moving upward from 1:30 - CB but did so on low volume which also does not bode well for bullish sentiment. The Energy sector (XLE) ETF was at the bottom of the list with Health barely ending the day positive. In terms of weekly performance, Healthcare and Industrials lead the way, Financials and Energy in the mild and Communications Services leading the 'red' pack.

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WL:

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DAY TRADES:

SWING TRADES:

 WKHS

Broke $30 today, I am still holding some shares for the break out above $30.

IBM:

Added to my position on yesterday's PB. Holding this as big money rotates into 'safer' equities as elections approach.

AMD

Entered a swing at the low of day to hold over the weekend .

Final Review

Goal for Day: 8/9, 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. 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 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 – 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: Stay patient with a trade where I had to average up on waiting for the move. I did not chase any entries at the top of a range or at the D position of an ABCD pattern. I did not break my rule of only taking 3 trades today, outside of my ORB.

Things I did poorly: Broke a rule set-up yesterday - I was playing a game: Take a trade in the morning and if I 'won' the trade then I could take a second trade. broke the game rules.

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.

Edited by OTC
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