Mark D. Day Trading Journal - Live 2019

Rob C · September 9, 2019

I like your last two MU trades and would have taken the same ones. The first trade was a nice ABCD pattern and you went long after a confirmation 1min candle with volume. Your short was good after a false VWAP break after a 40 minute down trend.

Mark D. · September 10, 2019

Tuesday September 10th, 2019

Sleep: 7.5 hours. Mood: good ready to trade.

First trade was a wedge on CTRP (2/4). as soon as i got in, i realized i chase it and then i got out before my stop. also didn't have a profit target that made sense.

GOOD: got out before stop

RFI: chased the entry

MOOD: ok

CONSISTENT: yes

it held all those levels and looked like it was going higher so i got in long again. realized i made the same mistake and got out around my stop (0/4).

GOOD: got out

RFI: don't take the same trade again unless it gives a clear signal

MOOD: angry for taking the same trade again.

CONSISTENT: got out at stop

i was pretty frustrated with myself, looking at pretty much 2R loss 10 minutes in to the trading day, wishing i was in SIM and not live. looked down at my trade log and noticed i was in sim! forgot i switched my montage over to sim yesterday. it became clear that this was turning in to a descending wedge in CTRP (3/4) so i got in on the short side risking a new 2min high. bought 75% at about 2R, which was a mistake, i meant to buy 25%. then another piece at 3R, one bad buy seconds before another down move. got all out at the moving averages on the daily.

GOOD: setup, R/R, risk level

RFI: selling

MOOD: good

CONSISTENT: yes.

What i did good today: took a nice short when i saw the long wasn't working

What i did bad today: still FOMO trying breakouts that aren't working

What can i do better tomorrow: take better setups.

Mike B · September 11, 2019

4 hours ago, Mark D. said:

What i did good today: took a nice short when i saw the long wasn't working

What i did bad today: still FOMO trying breakouts that aren't working

I feel you. the opening range breakouts are not producing good results now. I stopped trading the 5 min Orb until I start seeing the continuation on them. Today it seemed all the 1st 5 minute candles got engulfed.

Mark D. · September 11, 2019

Wednesday September 11th, 2019

Sleep: 7 hours. Mood: good, ready to trade.

Missed the really nice ABCD in MU earlier in the day because i was not at my computer. i was watching it right after 10 for a drop below VWAP, then a pullback that i could take to the short side. every new 5min low was being bought back up and it was moving sideways between two MAs on the 2min chart. i was watching it thinking there's no trend or setup here so i should just wait for a trend and then it made a new 2min high on volume (not great) with the time and sales all green and like a moth to the flame i jumped in on the long side no setup (0.4). got sold the high of that candle and then i got out right above my stop. guess i could have held for a bounce to get out more favorably but i respected my stop.

GOOD: got out at stop

RFI: no setup or trend

MOOD: ok

CONSISTENT: no setup.

last trade of the day was a MA trend trade in ZS (3/4). ZS was trending down nicely. i see this move a lot when a stock will rally on decent volume to the 20 MA on the 5min then head lower. i waited for the new 5min low on the doji and got in short. i set a range order because i had to leave my desk so i would have got out a little earlier than i did but it was stilla -1R trade. i'm happy with this trade, the only thing that gave me pause was that descending triangle breaking the LOTD got bought back up. but i'd still give this setup a B+ happy with the trade.

GOOD: setup, R/R, stop loss level

RFI: watch all your trades or don't take them

MOOD: good

CONSISTENT: yes

What i did good today: took one setup that i was confident in

What i did bad today: jumped in on MU without a clear trend or setup

What can i do better tomorrow: My goal for trading tomorrow is to only trade my setups. if i take two trades and they're both setups and they don't work i'll still be happy that i was able to take trades that i'm proud of regardless of outcome. i'm not sure what happened in my thinking that started me down this road of taking trades based on flimsy ideas but it has been tearing me up on my P&L last two or three weeks. thankfully i have small risk and i stick to my stops religiously so the actual money lost is inconsequential. What bothers me is that i'm still having elementary issues like not trading setups but i know it's all part of the learning process and it takes time. hope everyone had a green day!

Mark D. · September 12, 2019

Thursday September 12th, 2019

Sleep: 7 hours. Mood: good, ready to trade

first trade was in $BHGE trying to catch a 5min ORBD early. (3/4). got in on the new 2min low risking the HOTD after closing below the VWAP on the 2min chart. it ended up pressing back up through the MAs and all the way to my stop. happy with this trade though I wasn't thrilled with the rejection of the LOPM in the first five minutes, i waited for an entry and sized appropriately.

GOOD: got out at my stop, good setup, short below VWAP at VWAP, had all MAs above

RFI: could have waited for the break of the 5min body

MOOD: good

CONSISTENT: yes

last trade was a wedge trade to the long side of $BHGE (3/4). the stock was really strong getting through all the MAs and breaking the HOTD. waited for the HOTD break and a pullback to get in. i didn't wait long enough on the pullback but i think the entry was ok. profit target was 22.08 (3R) i was hoping for pop over the $22 level. it missed me by a penny and then made a 2min doji and i bailed at 2R out of fear. No need to though, it was so strong. Look at these huge orders after i got out. these are divided by 100:

that's $3M in buying at 10:12. i'm torn on my exit because it rejected over $22 really quick but i was still seeing a ton of green on the T&S. my nerves ended up winning over and i got all out at 2R. it got close but never went back to my entry as of the time of writing this.

GOOD: good trade, made it to my profit target

RFI: spooked out of a 3R trade

MOOD: feels good to have a trade so as planned. it's been a while

CONSISTENT: no, should have held to my plan

What i did good today: took good setup trades with reasons for entering

What i did bad today: gave up an R on a profitable trade.

What can i do better tomorrow: hold my winners

IamKarthi · September 26, 2019

hi Mark - hope you are doing good and making lots of trading money.

Mark D. · September 28, 2019

On 9/26/2019 at 6:33 PM, IamKarthi said:

hi Mark - hope you are doing good and making lots of trading money.

Thank you Vikram! I am doing well but not making any money. Still trying though 🙂

IamKarthi · October 2, 2019

On 9/28/2019 at 6:37 AM, Mark D. said:

Thank you Vikram! I am doing well but not making any money. Still trying though 🙂

Good to know Mark 🙂 , just wondering because haven't seen your updates in a while.

Magna · November 12, 2019

On 9/10/2019 at 6:34 PM, Mark D. said:

i was pretty frustrated with myself, looking at pretty much 2R loss 10 minutes in to the trading day, wishing i was in SIM and not live. looked down at my trade log and noticed i was in sim! forgot i switched my montage over to sim yesterday. it became clear that this was turning in to a descending wedge in CTRP (3/4) so i got in on the short side risking a new 2min high. bought 75% at about 2R, which was a mistake, i meant to buy 25%. then another piece at 3R, one bad buy seconds before another down move. got all out at the moving averages on the daily.

GOOD: setup, R/R, risk level

RFI: selling

MOOD: good

CONSISTENT: yes.

Hi Mark,

Not trying to sound like a jerk or anything, but I a disagree with your short on CTRP. Even though the trade works out in your favor, we shouldn't analyze the trade based on a single outcome. CTRP opened very strong, it broke pre-market high (a level at $34.5 if I'm not mistaken), VWAP, PCL and other MAs. On the 5, we can clearly see a bullish flag candle. There had not been any real pull back yet from your entry. CTRP was not very extended from VWAP. In addition, CTRP is on an uptrend on the daily making higher highs and higher lows. It seemed to be ready to go up to test the resistance at $35.68. Usually for stocks that open this strong, we would see a pull back to VWAP then push higher for an ABCD pattern. The said don't short strong stocks as it is very dangerous... Personally, I think that we should wait for CTRP to test VWAP and if it hold VWAP then we should go long for the break of high of the day.