Ray's Swing Trading Journal

[OTC 27]

use this link if you are interested in researching biotech and pharma stock: https://www.biopharmcatalyst.com/

[Ray 4]

$KHC may be the same as $CPM - watching grass grow. Thank you for calling out spike in volume during down days. I will take a look at VXRT & WKHS.

[Ray 4]

Mid Week update [w/o  7/20/2020] - next up review ----> 1 Aerospace & 2 Cannabis play

$MAXR - Aerospace & Defense -  inspired by space related stocks 

$CRON [$CGC chart looks similar] & $GRWG

[Ray 4]

Mid week summary [w/o 7/20] - objective for this week: Remain focused on MAIN ideas best R <> R. Goal: Focus on not more than 10 ideas, e.g., 5 stocks and/or 5 index.

Added // Hold: 

1. KHC (target $40+) – Kraft Heniz 
2. SPCE (target $30+)
3. MAR (target $100)
4. CRON – Cronos [Replace with GRWG]
5. CGC – Canopy Growth Corp  [Replace with GRWG]
6. FCX – Freeport – Mcmoran
7. MAXR (Aerospace / Defense) – Entry ~$16, Stop $14.5, Exit: $19+
8. MS – Morgan Stanley (started position ~$51)

Index - Added // Hold // Closed:

1. IBB – Nasdaq Biotech index; probability of trend to continue higher – 2 main reasons:
2. IWM – (target $150+)
3. XLB – materials index [moved up my stop]
4. GLD – Gold index
5. GDX – Gold miners index
6. SLV: [Added to my position] Exit 1 - $25 Exit 2 - $30+
7. XHB – Home builders index

Closed in Green: 

1. PEP – Pepsi  - currently range bound
2. WORK - [stopped above B/E] - currently range bound
3. NDAQ - target met - exited position

Closed in Red: None so far but still have 2 more days to go!

No longer candidates // not actively watching them: 

1. H: Hyatt Hotels – Entry $50(below), Stop $45, Exit: $60+
2. BA – Boeing - Entry $160’s (looking to enter in the low $160’s)

[Ray 4]

7/28 

I work up early to observe pre-market. I was mostly interested in $SLV move. Last night Silver moved up +/-5% after market on very slow volume. This morning (4AM EST) $SLV opened down %5 again on very low volume. +/-10% move in a few hours. Interesting. 

This week updates -

Added // Hold: 

1. SPCE (target $30+) - added yesterday. Cabin revel today 10AM PDT
2. GRWG - [added]
3. CRON – Cronos [added]
4. CGC – Canopy Growth Corp  [added]
5. FCX – Freeport – Mcmoran
6. MS – Morgan Stanley (added to my position when it dropped closer to ~$50)

Index - Added // Hold:

1. GLD – Gold index
2. GDX – Gold miners index
3. SLV: [Added to my position] Exit 1 - $25 Exit 2 - $30+
4. XHB – Home builders index
5. XLB – materials index [as the price moves up I continue to move up my SL]

Closed in Green: 

1. KHC (target $40+) – Kraft Heniz - Closed before target met because earnings are coming up this week [7/31]
2. IBB – Stopped out when the index touched the 50 MA 
3. IWM – (target $150+) - trimmed my holding as the index marched closed to $150 before the sharp sell out on Thursday 7/23
4. MAR (target $100) - closed before target met. Charts look good for MAR. Trying to focus my swing trading on a few ideas. 

Watchlist: 

1. MAXR (Aerospace / Defense) – Entry ~$16, Stop $14.5, Exit: $19+
2. IWM - will be rebuilding position as I sold into strength mid last week 

[Ray 4]

Day in review: 

Things I did well: Focus early morning 4 AM; good sense of Silver - Commodities direction for the day

Things I did poorly:  Over confidence; jumped into trades without proper setup. Still green for the day; however the day could easily been RED. 

[Ray 4]

7/29 Update

$SLV and $GLD - Both are respecting VWAP - trading around my swing position. Add below VWAP if a setup presents and sell above VWAP. 

$SLV - 4 M shares at 3:02pm [Big red candle]. Price typically turns up after a big volume flush. Learnt it from Thor to watch for volume and change in price direction. I didn't take a day trading position because there was no setup. 

Also trading around $SPCE position. Sell the news event since yesterday. 

[Ray 4]

8/4 - Swing Trade - Journal Entry 

Earnings Review: 

• Exited swing trades before earnings (following my rule of not holding a position through earnings); $INTC, $KHC, $DIS, $AMD, $SPCE. 
  • $INTC and $SPCE gapped down after earnings 
  • $DIS and $AMD continue to march higher after reporting 
  • $KHC trying to decide when it will start marching higher to close the gap above in $40's 
  • Holding positions through earnings is gambling, i.e, 2 stocks up and 2 stock down. Easily all 4 could have been down and vice versa. I'm glad that I have learnt through my prior mistakes plus BBT education has really helped. 
• Looking for swing trades and setups after earnings in the following: 
  • $SPCE
  • $KHC (it came back and retested the H/S neckline it broke from)
  • $CGC
  • $MSFT
  • $WORK:
    • Need to work on a updated chart for $WORK
    • looks like it has found a bottom around $29 - $30 range 

Things I did poorly: 

• Overly focused on day trading $SLV; missed a good setup in $MSFT today and last week
• Forcing day trades in $SLV without a strategy, i.e., setups that are not part of my playbook. I still managed to get 1R : 1R because of the current bull market in $SLV. Need to be patient and take trades only with my playbook strategies. 
• $BA: 
  • Entry: Low $160's - entered the trade according to my plan
  • Volume in the $150 - one thing I didn't play close attention to is the volume gap below in $160's ; once $BA broke $160's it traded all the way into lower $150's due to the volume gap. I should have set my entry in the $150's by paying close attention to volume and levels. 

Current positions: 

• Index: 
• $SPY (trading around my position) 
• $IWM (no positions over night - looking to add tomorrow below VWAP plus setup from the playbook, i.e., double bottom, doji candle reversal)
• $EEM
• $GLD - don't have to worry about earnings report with Gold and Silver. Fed printing will not stop and the dollar continues to move down which will continue the bull market. 
• $SLV 
• Equities: 
  • $BA (not happy about my entry)
  • $MS - Morgan Stanley 
• Cannabis play: 
  • $ACB - reports 9/9
  • $GRWG - reports 8/10
  • $CRON - reports 8/6

Exited positions: 

• Gold, silver and copper miners. They've had a good run; decided to book profits and take positions off for now. 

[OTC 27]

Ray,

Another nice summary. I like your addition of "what I did poorly" 😉 

We both missed that entry on $BA, luckily I only took 1/2 my desired position as I was noticing the weakness. I doubles my position at the $153.XX which allowed me to average down to below $160. I took some off today at 166, holding the rest for the break of 175. I am 'sour' with my exit on AMD. I had been holding it for ~4months with intentions to hold until it hit 95-100 / share and then changed my plan last minute (lesson: stick to your game plan) and sold all at $79 -- so frustrating, when you work so hard to design a game plan and then break it on 'emotion'

[OTC 27]

Ray,

What do you use to draw on your charts, in particular that free hand tool for H/S?

 

[Ray 4]

Hi OTC, 

I'm glad you liked my summary. I picked up "what I did poorly" from your journal entry 😀. Thanks for sharing with all of us!

I follow these steps from my charts: 

1. Screen grab chart from DAS Pro Trader 
2. Paste into power point 
3. Utilize drawing tools 'shapes' in power point to create my swing trading patterns, i.e., H/S, Wedge break out 
4. Snag the chart from power point --> save as PNG
5. Upload to BBT forums

I've tried many techniques and this was the simplest way to create my chart patterns in a consistent manner. 

[Ray 4]

$SLV - Seems like $25 is an interesting whole number to take profits. Many traders booking short term profits at this level. $SLV struggled to remain above $25. I have been trading around my position and have formulated this strategy. I used a similar strategy when $IWM was in the $140s. 

 

[OTC 27]

Can you post a visual example of this please.

[Ray 4]

[Ray 4]

Journaling how I traded my strategy today: