Bailey Nevener 35 Posted December 15, 2020 (edited) ==================================================================== Trading Journal: Date December 15, 2020 Status (Live/Sim) Sim Net P&L (w/ECN Fees) +$341.64 Current Equity N/A (Sim Timeout) Quality of Life (Kept Short) Bedtime: 1:00a.m. / Awake 4:00a.m. (Played WoW for the first time in years!) Living with parents / finished semester with all A's boys / paying off debt / restarting live account on Thursday Direct Questions What did I do well? I added to my position when it was probable that the level I risked off of would hold. I beat the moderators to AAPL being on my watchlist. I allowed myself to have the "one and done" even when I left a LOT of profit on the table. What could I have done better? Hold on for the continued move on AAPL, obviously it is going to trend, it is going to be an explosion on the daily. Is the performance pressure I feel increasing or decreasing? It is currently staying at a moderate level, and barely increasing. I feel like if I focus on being patient that my live account will end up working itself out. Is the current way I am trading going to lead to long term success? Yes. My winners will be enormous if I continue to dynamically add to my positions. However, I need to be careful about allowing my stop-losses to get hit and not pre-emptively cancel them like a maniac. I can only pre-emptively exit, but never preemptively cancel stop losses!! Screenshot of Traded Symbols I'm glad this was a sim trade! I would've lost my mind missing out on this profit lol! I have got in a bad habit of taking everything off the table when I hit goal for the day in the sim (because it isn't real money). 1. $AAPL Long 1 minute ORB Anticipating range break Stop under 1 minute candle low ADD 1 minute ORB At range break Stop in the middle of the 1 minute candle Almost was stopped, maybe a little close ADD 1 minute ORB After pullback under breakout area Clear indicator to add if new highs were made Stop at the top of the range Sold everything after I was 3Rs past goal amount It was CERTAINLY too early Based on the weekly this is a 10% partial all the way up kind of trade I'm glad I did this mistake in simulator :-)! WIN Edited December 15, 2020 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted December 19, 2020 ==================================================================== Trading Journal: Status (Live/Sim) Sim Net P&L (w/ECN Fees) -237.44 Current Equity N/A (Sim Timeout) Quality of Life (Kept Short) Bedtime: 1:00a.m. / Awake 6:00a.m. (Very tired) Living with parents / finished semester with all A's boys / paying off debt / restarting live account on Thursday Direct Questions What did I do well? What could I have done better? Established my zones for entry to the long or short side baesd on the higher timeframes. Also it would have been probably for the best for me to not trade after getting so close to goal on the first trade, but I am glad I reopened my weakness before going live tomorrow. Is the performance pressure I feel increasing or decreasing? Increasing, I am going live tomorrow. Today was an excellent display of my ultimate pitfall of 1 minute chart overtrading. Is the current way I am trading going to lead to long term success? Screenshot of Traded Symbols 1. $AAPL Short engulfing on 2nd minute Stop was mid candle ADD Stop at the breakout 1st minute candle close LOSS 2. $AAPL Short Saw it was staying down near the break area, I assumed I got wicked out Stop above current candle wick ADD breaking LOD with ORB Stop mid candle WIN 2. $MRNA Long Hammer on the 5 minute chart, after large trend down Stop too far away, mid hammer Took profits early WIN 3. $AAPL Short LOD break Not a great idea because of the triple wicks on the 1 minute chart as well as the 200SMA we were challenging on the 5 minute chart ADD Bad add, I wasn't up on my position yet LOSS 4. $AAPL Long Looked at wicks on the 1 minute 200SMA on the 5 minute (This is where the chop starts) Sttop below current 5 minute candle wick Hammer formed off of the 1 minute 9EMA, premptive stop out, maybe OK LOSS 5. $AAPL Short Stop over previous wick above 9EMA Preemptive stop out (Didn't make sense, the previous trade's hammer might have justified the stop out, but there wasn't anything really making me stop out except a red P&L) LOSS 6. $AAPL Short Stop was literally next to the price, so this trade didn't make any sense whatsoever This was at the bottom of a range littered with wicks It was a descending triangle and I was shorting at the bottom At the very least I should have risked off of the middle of the triangle range or the top LOSS 7. $AAPL Long Stop right next to the price Once again, with the MA on the 5 minute chart right there, the microgyration sizes are going to be larger, so putting a stop next to the price is a really bad idea here I should have risked off of the bottom of the triangle or not taken it long at all because the higher timeframes do not support a long term move up Except for the daily That's not because that kind of trade doesn't work, but rather, look at how chopped up I got because of my horrible stance mentally LOSS 8. $AAPL Short Stop right next to the price Descending triangle failed, I wasn't ready to stop out again because I was taking ridiculous share size I averaged down as it went up I would be stopped out at -250 for the day at this point in the live account The rest of the trades are pointless to review for this reason LOSS Review discontinued at 3:35 in relation to the video ** I have got to stop clicking right next to the price to get max share size, all it does it make me a dear in headlights because I don't want to place down my stop loss. ** This trade did have a little room to run down in relation to the ATR My adds when my position didn't already have profit were extremely damaging to my overall p&l (I use it well with ORBs) There wasn't any extreme volume that should have deterred me from a short trade The trade was extremely extended from the 5 minute 9EMA The short into the 1 minute wicks was bad, not to mention it was into the 60 minute 20EMA Not all trades work, but because I kept risking so close to the price, I was getting destroyed in the descending triangle's range If I had risked off of the edges of the triangle, I should have had one short that ended up failing Instead I had a short into wicks A long back into the range (didn't go) A short with the triangle (The OK trade entry, but I preemptively stopped myself out!) A short at the bottom of the range, risking right next to the price (WHAT?!) And then a long with a stop right next to the price (instead of at the bottom of the triangle!! with another stop out into a short again with HL on the 5 minute chart with a double bottom shape on the 1 minute chart Perhaps that last short could have been attempted as well, but either way, $100 loss is a lot better than what I did, like a $500 loss How to Fix This: - 60 range break short was good - Pay attention to the distance from the 9EMA on the 5 minute chart (maybe won't be a good trend trade yet if it is so extended) - Place stops on either side of ranges or above the last candle to touch an MA - Leave the adds for a LOD break If your stop is above an MA, don't preemptively stop out unless there is a Doji threatening to stop you out! - Be willing to leave a trade alone if there is a heavy-set MA creating bigger microgyrations on the price, I'm sure there is a stock that is trending outside of a range or consolidating somewhere to look at! - Easy stocks make smart trading easy Share this post Link to post Share on other sites
Bailey Nevener 35 Posted December 19, 2020 (edited) Date December 17, 2020 Status (Live/Sim) Live Net P&L (w/ECN Fees) +$24.15 Current Equity $25,285.36 Edited December 21, 2020 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted December 19, 2020 (edited) Date December 18, 2020 Status (Live/Sim) Live Net P&L (w/ECN Fees) +$173.70 Current Equity $25,459.05 Quality of Life (Kept Short) Bedtime: 1:00a.m. / Awake 6:05a.m. Living with parents / income situation stabilizing / In first week of live account / last week account was stopped out Direct Questions What did I do well? I didn't blow up even though I had already hit goal amount in unrealized profits at the open. I kept the impulsive trades low (for me lol) What could I have done better? I could have placed my stops further away on the second $NIO long I was adding even though I wasn't really up much in unrealized profit and the price action wasn't supportive of mid-range tight stops Is the performance pressure I feel increasing or decreasing? It is staying the same, certainly less than when I went live the first time last week. Is the current way I am trading going to lead to long term success? Yes, I believe that if the market cooperates at the open a little more than it has that I will come away very nicely soon. However, I need to tone down my impulsive trades like the 2 that happened on $AAPL with the short term range, best thing to do is to pretty much always trade in the direction of the trend unless a double bottom grabs you by the face and tells you its a long etc. What can I improve about my process? It would be more helpful to use Epic Pen to really check all of my bases before entering a trade Such as consecutive 5 minute candles or mapping out my plan on the screen ahead of entering at all. 1. $NIO Long Premarket range break Didn't really consider the lower 1st minute volume Stop below open Add It only gave me 1 share! Stop below open 25% partial at the top It did a parabolic reversal back to the open unfortunately WIN 2. $TSLA Long Engulfing 1 minute candle Stop below the open The R:R wasn't all that exciting and TSLA only allows 1/2 margin in IB, so I was happy to get out WIN 3. $TSLA Long After the premarket breakout it retested, so I entered for the new high It was kind of extended though, so I decided against holding it WIN 3. $NIO Short Momentum through the open Stop mid candle above the nearest MA Took 25% at the bottom, no follow through even with that crazy V sell-off, lame Got out basically at breakeven WIN 4. $NIO Long This trade was a mistake After that selloff a long right here really isn't the best idea I should have waited for consolidation because the microgyration sizes wouldn't really allow for a tight stop for good R:R ADD I'm clearly just frustrated the initial trades didn't finish me off for the day The sell-off was way to vertical for this entry ADD Just hoping it will go back to the HOD without stopping me out, once again, with the sell-off, the microgyration sizes are going to be too big for unprotected stops LOSS 5. $NIO Long Premarket range rebreak Hoping the momentum will carry me to HOD and beyond I was thinking that the V-shape selloff was just market wide, so perhaps that was a false indication of this stock's weakness ADD Saw the ASKS stacking at HOD Stop under range top It double topped LOSS 6. $AAPL Short T&S were quick at LOD while price was holding low Kind of a dumb trade Glad it worked out I got out because it was extended on the 5 so it should be a scalp WIN 7. $NIO Long FOMO Long that I immediately exited WIN 8. $AAPL Long I knew this was dumb from the beginning Stopped out because we were making lower highs and lower lows and I bought into a short term range break Even if it was going to go up it would stop me out before doing so because of the predictable residual momentum from the trend microgyrating me out LOSS 9. $AAPL Short I just got stopped out Long didn't really consider the 15 minute chart SMA creating the microgyrations Should have left this stock alone The ADD at LOD was OK LOSS 10. $TSLA Long I felt that it was going to break HOD and after that wick was thrown on the 5 mintute chart I felt that my stop at LOD was reasonable to catch a day trend LOSS 11. $AAPL Short Stop above lower high Room to run on the ATR the support on the 15 threatening, but since my stop is good I should be able to survive the microgyrations if it breaks Market was downtrending ADD LOD add as much as I could within reason The T&S was slow after it broke so I exited completely WIN 12. $AAPL Short T&S picked up as the bear flag broke at LOD I took everything because it made my average trash and my psychology would be messed up if I didn't get this trade at this time of day WIN 13. $SPCE Long I knew it was getting late for me in the trading day I took this one because it was an ABCD on the 5 minute and 1 minute at the same time over VWAP, off the 9EMA 5 min, not too extended Took everything because my psychology felt impulsive I immediately knew I needed to wrap up the day WIN Edited December 21, 2020 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted December 21, 2020 (edited) Date December 21, 2020 Status (Live/Sim) Live Net P&L (w/ECN Fees) -$314.80 Current Equity $25,144.21 Going to deposit $106 to have a full max loss available for the next trading day. Quality of Life (Kept Short) Bedtime: 3:00a.m. / Awake 6:00a.m. Living with parents / income situation stabilizing / In first week of live account / last week account was stopped out / not liking the start to the week with my final trade stopping me out before the big win Edited December 29, 2020 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted December 23, 2020 (edited) Date December 23, 2020 Didn't trade yesterday, I was waiting for my account to be pushed back up to $25,250 so I could have a full loss amount available for a trading day. They ended up dropping the ball, so I saw if anything was good this morning and immediately made the amount I was going to deposit. Glad it worked out. Status (Live/Sim) Live Net P&L (w/ECN Fees) +238.40 Current Equity $25,382.61 Quality of Life (Kept Short) Bedtime: 12:00a.m. / Awake 6:00a.m. Living with parents / income situation stabilizing / In first week of live account / last week account was stopped out / very fortunate today gave me a winning trade first Edited December 29, 2020 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted December 24, 2020 (edited) Date December 24, 2020 Status (Live/Sim) Live Net P&L (w/ECN Fees) +$222.50 Current Equity $25,605.01 Quality of Life (Kept Short) Bedtime: (In bed at 10:30p.m. but couldn’t fall asleep) 12:00a.m. / Awake 6:00a.m. Living with parents / income situation stabilizing / In first week of live account / last week account was stopped out / (Now) Account is fortunately closing the week at new highs Edited December 29, 2020 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted December 29, 2020 (edited) Date December 28, 2020 Status (Live/Sim) Live Net P&L (w/ECN Fees) +$108.33 Current Equity $25,713 Quality of Life (Kept Short) Bedtime: 11:00p.m. / Awake 6:00a.m. Living with parents / income situation stabilizing Building a buffer on the account, I would like 10 max loss days between me and the starting balance (~$2,500) Direct Questions What did I do well? I waited for obvious setups to form (obvious to me) instead of just shorting or longing every 9EMA bounce. What could I have done better? Do not buy a super short range ($TSLA) premarket right before the open. My order didn't execute to sell for a loss so I had a 2R loss before it sold. A review of the open showed clearly that TSLA was a great dip and rip, but I couldn't be in it because (predictably) I was stopped out by the shake out! I am not locking in any gains when I am up 2R+ or even 3R+ if it is on an initial pop! (1 minute or 2 minutes into the trade) I understand that I am trying to get bigger winners, but whenever these trades stop me out, often it is for a 1R loss which makes me even more emotional. Several of my trades in the past 2 weeks have been like this, therefore I am going to change the mechanics of how I trade specifically to protect my account equity. The 2R / 3R buttons will now take 25% of my position off. Every trade use one of these to cover commissions and take a little pressure off. Stop loss at breakeven after any profit taking. My main concern should be protecting the equity in the account. I should not find myself in a situation where a 3R winner turns into a 1.2R loss! Trading defensively will end up benefitting my psychology which is probably the weakest link in this equation. It will sacrifice a little bit of upside on each trade for a huge benefit in downside protection. Is the performance pressure I feel increasing or decreasing? Decreasing slightly. I am glad that today worked out, but I could have blown the account again. I am significantly more emotional since one red day has a huge impact on the probability whether or not I will have to add money to the account. Is the current way I am trading going to lead to long term success? No, eventually a day like this will end up blowing up my account. Refer to "What could I have done better" for the current solution. What can I improve about my process? I could record myself with live commentary and epic pen. This would enable me to think a little more rationally and keep a thought for longer than 10 seconds during the trading day. Edited December 29, 2020 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted December 29, 2020 (edited) Date December 29, 2020 Status (Live/Sim) Live Net P&L (w/ECN Fees) +$328.50 Current Equity $26,041.82 Quality of Life (Kept Short) Bedtime: 1:10a.m. / Awake 6:00a.m. Living with parents / income situation stabilizing Building a buffer on the account, I would like 10 max loss days between me and the starting balance (~$2,500) Direct Questions What did I do well? I did not chase stocks premarket close to the open. I let my stops hit or not without canceling them impulsively. I also moved my stop up on a bad trade on $AAPL. THE BIG ONE: I took a partial at 2R or 3R and then put my stop loss at breakeven. This allowed a very smooth equity increase throughout the day. Took it easy and waited for a more obvious trade. What could I have done better? Changed the color on the upper horizontal level on $AAPL to indicate that it was the beginning of the wicks on the 15 min chart. I may not have taken the second long if I remembered I was going long into tweezer tops. Is the performance pressure I feel increasing or decreasing? Decreasing, I am going to be cautiously optimistic as much as possible as I work my way to the goal buffer ($27,500). Reimplementing the profit taking at 2R or 3R and moving my stop loss to breakeven really works for my psychology and trading style. I stopped taking mandatory partials previously and only moved my stop to breakeven when I hit a 2R amount, but I find that it is super tempting to move my stop or not place the stop at breakeven at all if I don't take any profit on a trade and it comes back to breakeven. The best rules are the ones that you follow! Is the current way I am trading going to lead to long term success? Yes, with a partialling strategy in place, placing my initial stop behind a technical level, and position adds. I feel like my trade management is congealing with my directional interpretations appropriately. What can I improve about my process? Make weekly recaps and identify my favorite days as well as my trading style / market conditions on that day. Edited January 13 by Bailey Nevener 1 Share this post Link to post Share on other sites
Bailey Nevener 35 Posted January 5 (edited) Date January 4, 2021 Status (Live/Sim) Sim (Long break, continuing live on Wednesday) Net P&L (w/ECN Fees) +$254.03 Current Equity N/A Quality of Life (Kept Short) Bedtime: 10:00 p.m. / Awake 1:00a.m. (Couldn't sleep) Living with parents / Income situation stabilizing Direct Questions What did I do well? I discontinued trading after hitting goal so quickly. What could I have done better? I could have sold a major portion of my position and put my stop loss at breakeven to hold on for a greater move. Most of the time if I make goal on the first trade then my day will not be over the $250 mark by much. (If I make 5Rs on the second trade, I make $350+) Is the performance pressure I feel increasing or decreasing? Decreasing, I am going to make sure that I keep in mind to put my stop loss at breakeven after any profit taking, I don't think I wrote that in my daily guidelines. Is the current way I am trading going to lead to long term success? Yes, discontinuing trading after hitting goal amount no matter how good the day looks will certainly give me the consistency to pull the account away from the baseline with few drawdowns. What can I improve about my process? Make weekly recaps and identify my favorite days as well as my trading style / market conditions on that day. Edited January 5 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted January 11 (edited) My trading video was corrupted because I restarted my computer after making goal for the day. https://www.youtube.com/channel/UCkK2SWIsYGuWm1gtlbD2C4w Here's my channel though if you want to browse! I remade my trading day and posted it using DAS replay. Date January 11, 2021 Status (Live/Sim) Live Finally back in the live account. Net P&L (w/ECN Fees) +$220 Current Equity $25,320 Quality of Life (Kept Short) Bedtime: 12:30 a.m. / Awake 4:00 a.m. (Dog woke me up) Living with parents / Income situation stabilizing Direct Questions What did I do well? I got out of my premarket position before market open to avoid the chop. Once the new 5 minute candle opened at 9:45 a.m. EST I allowed that 1 minute candle to break up or down. I took partials at resistance and put my stop loss at breakeven quickly. I added when higher timeframes were aligning with the trade. Range break, 15 minute hammer. I (tried) to stop trading even though I wasn't at the FULL goal amount (I was less than 1R away). Consistency first! What could I have done better? I'm not sure if banking on the bounce on NIO was the best idea, but it definitely worked well. Knowing the news beforehand really helped me make a decision, and my stops weren't greedy. Is the performance pressure I feel increasing or decreasing? Decreasing. Much less pressure than initial live account, even less than the second. Is the current way I am trading going to lead to long term success? Yes, as long as I use technical stops, am mindful of the volatility leading up to market open, and have cognizance of ATR and ranges, I believe this success will continue. What can I improve about my process? Make weekly recaps and identify my favorite days as well as my trading style / market conditions on that day. Here is a screenshot of the ACTUAL trading on NIO: Edited January 13 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted January 13 (edited) Date January 12, 2021 Status (Live/Sim) Live Just stopped out again! Net P&L (w/ECN Fees) -323.50 Current Equity $24,991 Quality of Life (Kept Short) Bedtime: 10:30 p.m. / Awake 6:00 a.m. Direct Questions What did I do well? I lost as little as I could premarket by taking the position off if things weren't working out (range breaking) 5 minutes prior to market open. What could I have done better? I could have taken a partial on NIO instead of adding because I was already pretty blown (psychologically) from the single trade (1 minute ORB) 2R loss on AAPL psychologically. Is the performance pressure I feel increasing or decreasing? The pressure is staying the same, I just wish there was an easier way to fund the account than using the ACH transfer that takes 4 trading days to deposit. I hate paying the 14 dollar wire transfer fee when I'm only depositing 100 bucks. Is the current way I am trading going to lead to long term success? Yes, I think this day just didn't work out for me personally. Risk controls are now set to: Max loss: 199 Total loss: 250 Count commission Enable auto stop What can I improve about my process? Still need to do a weekly recap. Edited January 14 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted January 13 (edited) Date January 13, 2021 Status (Live/Sim) Sim Pretty frustrating, but it is the way it goes. Net P&L (w/ECN Fees) +269.26 Current Equity N/A Quality of Life (Kept Short) Bedtime: 12:00 a.m. / Awake 6:00 a.m. Direct Questions What did I do well? I used stops that were far away pre market because obviously we can't actually use stop orders during that time. I held my positions to a reasonable target or until breakeven. Except AMD What could I have done better? I could have added and held during the 1 minute ORB on NIO through the HOD and partialled at 2R. I could have trusted my stop of that lower high on AMD. It was lower high and lower lows on the 5 minute chart, so no need to exit. I did not stop trading after hitting goal. But I did stop after the profitable impulsive trade. Lets see if I can do that if it is a loss! JK just stop trading! Is the performance pressure I feel increasing or decreasing? The pressure is staying the same. Waiting on my account to be funded yet again is annoying. I've been up and down on this account for about a trading month. Is the current way I am trading going to lead to long term success? Yes. I am trying to increase my laser focus and watching Aiman's recaps etc... is really helping me stay on track. I think the trading environment was easier for me today. What can I improve about my process? Still need to do weekly recap. Edited January 14 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted January 15 (edited) My Net P&L was ridiculously far beyond what my DAS risk controls would let me lose. I ended up revenge trading the money back, so I don't have the P&L screenshot. Date January 14, 2021 Status (Live/Sim) Sim Net P&L (w/ECN Fees) -250.00 Current Equity N/A Quality of Life (Kept Short) Bedtime: 1:47 a.m. / Awake 6:00 a.m. Direct Questions What did I do well? Manually stopped on SPCE pre-market. What could I have done better? Had my buying power triple checked so I didn't miss out on a winning trade like the one on FCEL that made me a little emotional. I could have had a 0.5R stop after catching the small move up on SPCE that would have allowed me to hold for the bigger move without getting stopped out on a small pullback. I just added the two hotkeys "0.5R Stop" for tomorrow. NEVER CANCEL MY STOP LOSS! Unless I exit the position manually before it hits! Is the performance pressure I feel increasing or decreasing? It is staying the same. I am in somewhat of a flat-line in equity growth right now, but no big deal. I feel that it will shake itself out with focus. Is the current way I am trading going to lead to long term success? No, in this video I was extremely emotional and placed my final stops extremely close to the current price and cancelled my stop. I CANNOT cancel my stop and expect to be successful with my style, it will not work over time! What can I improve about my process? Weekly recap Edited January 15 by Bailey Nevener Share this post Link to post Share on other sites
Bailey Nevener 35 Posted January 15 (edited) Date January 15, 2021 Status (Live/Sim) Sim Net P&L (w/ECN Fees) -283.43 Risk controls stopped me out. Current Equity N/A Quality of Life (Kept Short) Bedtime: 10:40 p.m. / Awake 5:31 a.m. SUPER READY TO TRADE! Direct Questions What did I do well? I identified a good long term trade premarket on the 60 minute on PLUG. What could I have done better? I could have not traded in the first minute because I am forced to trade on WIFI and this lag is going to end up killing me. I need to wait until I am in my own house. Is the performance pressure I feel increasing or decreasing? It is staying the same. Is the current way I am trading going to lead to long term success? No. I cannot trade in the first minute while I am on this WIFI. What can I improve about my process? Weekly recap Here's my new background: Edited January 15 by Bailey Nevener Share this post Link to post Share on other sites
