Rob C's Trading Journal - starting Feb 1 2019

[Rob C 826]

Monday 12/09/2019

I had a well-being score of 8/10 this morning.

I took 2 live trades this morning with BABA and FATE.

My watchlist: BABA, ROKU, PCG, M, CLVS and FATE

BABA gapped down on not so strong volume, but I had a long bias since the price was staying above 200. I waited for the big print and it arrived only 6 seconds from the open 152k. Smaller than in recent opens but big enough that it is likely the stock will move at the open. A second big print, which helps determine direction did not arrive. But a nice hammer was created and I had a long bias so I went long with half shares. My target was PDC and my stop at $200.

When I entered the trade:

BABA bounced around for a minute without moving much. I took a 25% partial to reduce my risk. Then a L2 signal appeared. Not big, but large enough I went long with the other half of my shares. A bad fill as usual. The stock didn’t move much though it was jumpy. I took 2 partials more for risk reduction then S/O at B/E. I thought I was going to wait to see if BABA bounces and I go long again, but I switched to another trade. When I was finished with the other trade BABA already ran.

 FATE had a very strong 2^nd 1min candle then two hammers and was squeezing into a pendant. At first I thought to wait and catch a bounce off of VWAP but then a L2 signal appeared, not big but enough to go long with half shares with the plan to buy the second set if it bounces from VWAP. My target was 19.50 with my stop below VWAP. Yep the L2 signal disappeared and the price dropped fast. It bounced off of VWAP and I went long with the other half of the shares. The price hung around my stop too long so when it bounced back up and passed my B/E I sold 25% to reduce my risk. The pop occurred soon after with a big L2 signal. The signal was so large I only sold 25% of my shares at the 19.15 daily level. I thought it was going to still move. The price reached 19.40 daily level but the L2 signal was even larger now so I held onto my shares. The price quickly dropped and I was S/O at B/E a few seconds later.

 

 

What did I do good today? I did not break any rules. I was able to almost fill my watch list with stocks I could short.

What I am grateful from today? Traded something new.

What I should improve on: Be more patient on the entries.

 

Edited December 10, 2019 by Rob C

[Rob C 826]

Tuesday 12/10/2019

I had a well-being score of 7/10 this morning. I wasn’t ready at the open but traded live anyway.

I took 1 live trade with BABA and 5 SIM trades this morning including two disaster trades with ROKU.

My watchlist: BABA, ROKU, PCG, AAPL, CLVS and MU

My main chart went flat again for every stock. I checked the config and matched it with other charts running fine and could not figure out the issue. I finally deleted the chart and created a new one losing all my levels. I quickly was able to get my daily levels back, but did not finish several items on my preflight checklist. Actually, I didn’t get to read my preflight checklist. I use to have a rule that I can’t trade live if I don’t finish my checklist. Not sure why that rule has been dropped over the last few months. I have all my rules on the checklist to be read each morning and it is no longer on it.

I finally got my charts and daily levels ready by 30 seconds after the open. The big print had already arrived. While I was setting up I saw BABA dropping. When I finally had my chart ready I saw a beautiful bearish L2 signal with the falling price. In one second I saw the price drop and bids get eaten, so I missed the entry. I was good about not chasing it and sat on my hands though a bit upset since I don’t ever see this good of a L2 signal.

Then two large bearish prints arrived as the price broke down through $200 so I shorted with a target of PDC and a stop at the 200.34 daily level. But I would have probably exited the trade if it broke above $200 again.

When I took the trade. The two red print, several seconds after the big print, was my bearish signal.

I was able to take two partial profits before the price retraced and I was S/O at B/E.

Since my charts and PM checklist is not ready I switched to SIM. I know BABA so well I can trade it without all the levels etc. But that is about it. So I took 5 SIM trades and was stopped out 4 of them.

What did I do good today? Traded using the prints at the open.

What I am grateful from today? I did recover after being late getting the charts ready at the open.

What I should improve on: Will add back “must finish the PM xlist to trade live” to my rule list again.

 

Edited December 10, 2019 by Rob C

[Rob C 826]

Wednesday 12/11/2019

I had a well-being score of 7/10 this morning. Will be a short journal entry since I was spending more time handling swing trades.

I took 1 live trade this morning with BABA.

My watchlist: BABA, ROKU, and PCG.

BABA had low volume in PM. But I thought it would be interesting if the print signal works with low PM volume so BABA was still my primary focus. Also, I knew my swing trades were trending so my attention will switch soon after the open.

A few seconds after the open the big print arrived (150k) which is just large enough to give some hint that BABA will move today. The 1min candle went bullish immediately after and I went long (half shares) quickly. I like entering a trade a small distance from the 200MA-1min, it seems to act like a magnet. My target was the 202.46 level and stop was the bottom of my candle.

I got the usual bad fill and I was able to take two partial profits before the price retraced and I was S/O at B/E.

 

Then I quickly had to jump over to my Etrade platform and manage my swing trades. Which I journal here:

 

 https://forums.bearbulltraders.com/topic/1536-rob-cs-swing-trading-journal/

 

What did I do good today? Traded using the prints at the open.

What I am grateful from today? Able to switch focus quickly to swing trades.

What I should improve on: Looking at BABA later for the big move which seems to occur later at the open.

 

Edited December 11, 2019 by Rob C

[Rob C 826]

 

Thursday 12/12/2019

I had a well-being score of 5/10 this morning. I knew I was going to get little sleep and be forced to trade SIM only so instead I slept in and didn't trade the open.  I did wake up before the open to manage my swing trades.

I hope everyone had a green day.

My swing trading journal if you are curious:

https://forums.bearbulltraders.com/topic/1536-rob-cs-swing-trading-journal/

 

[Rob C 826]

Friday 12/13/2019

I had a well-being score of 8/10 this morning. Will be a short journal entry since again I was spending more time handling swing trades.

I took 1 live trade this morning with BABA.

My watchlist: BABA, ROKU, MU, SAGE and LULU.

BABA had strong volume in PM and originally gapped up but headed down into the open. Between the Trump tweet and the tariff announcement at 9:30 I had no idea what to expect. 23 seconds after the open a 355k print hit. 3 seconds later a bearish print hit. 2 seconds after that a reverse hammer was formed and PM low was broken. I also like the 200MA-5min was near to act as a magnet. I went short. I got the usual bad fill.

1min chart and T/S when I entered the trade:

My target was PDC with my stop (tighter than usual) on an invisible level around 205.60 that was respected in PM. I took a small partial at the 204.80 level (~1R). Then priced reversed and touched my B/E (which is now my stop). The price dropped back down to the 204.80 level where I took another partial because I was losing faith. The price reversed again and I exited a few pennies before my B/E because I hate when BABA flies through my stop.

If I didn’t S/O early would I have reached my target? My stop is now set for two cents above B/E. I looked at my recording carefully and the price reversed 2 cents from my stop and the ask was 1 cent from my stop. So I would not have been stopped out and I missed the drop down. Every time I let BABA hit my stop order I lose half my profit in the fill. And when I stop out early it doesn’t reach my stop and I miss the run. I need to change my strategy.

Then I quickly had to jump over to my Etrade platform and manage my swing trades. Which I journal here:

https://forums.bearbulltraders.com/topic/1536-rob-cs-swing-trading-journal/

 

 

After managing swing trades I came back to DAS and got stopped out 4 times. My SIM trades have dropped <20% and I am losing discipline now when I take them. Not sure what happen. I need to adjust my strategies.

 

What did I do good today? Traded using the prints at the open.

What I am grateful from today? Able to switch focus quickly to swing trades.

What I should improve on: Need to change strategies on B/E stop outs on BABA. First, I will try focusing on the spread when it approaches my stop. If tight let the order go through. If wide perform a manual stop.

I also need to change my other trading strategies. My 5/10/15min ORBs having gotten really bad.

[Rob C 826]

Monday 12/16/2019

I had a well-being score of 8/10 this morning.

I took 1 live trade this morning with AMRN.

My watchlist: BABA, MU, AMRN and BABA.

I was actually looking at AMRN as a swing trade. It first gapped up a lot on PM then lost most of it. Then seemed to create a double bottom. I wanted to take it long for a swing trade but there was a large bid at 24.95 (60k shares) and I didn’t want to fight it. I waited a few minutes and finally the bid was eaten up and the price recovered and I went long 5min before the open.

My 1^st target was VWAP or 200MA-1min. I was not thinking I would reach one of them before the open. I took 25% at VWAP (2R) and another 25% at 200MA-1min (3R). I moved my stop to B/E and hoped to keep the rest of the shares for the swing trade. The price dropped hard. Andrew first got out and then he said it is started to look like a short. But I was stubborn due to Centerpoint did not have shares to short (or what they call easy to short list) so I couldn't flip my position. Also I wanted to hold for a swing trade and got stopped at my order at B/E. 

 

What did I do good today? Took a nice double bottom.

What I am grateful from today? Trading something other than BABA at the open.

What I should improve on: If your swing trades turn into a day trade don’t try and converted back to a swing trade.

Edited December 16, 2019 by Rob C

[Rob C 826]

Tuesday 12/17/2019

I had a well-being score of 8/10 this morning.

I took 2 live trade this morning with BABA and BA.

My watchlist: BABA, MU, AMRN, PCG and BA. Actually, BA only made the watchlist because I only had BABA and MU with shares for short so I needed to add something.

Nothing too exciting in the PM. BABA did gap up some and volume was OK in PM. I waited almost a whole minute for the big print which arrived reasonable size at 249K. I waited for the second large print to determine direction and none arrived. Then a small hammer was formed on the 2^nd 1min candle and a large 2min hammer was formed. I also liked the R/R was exactly 2. I seem to do best with those. Plus, there were two signals on the tape. The first one was a sizeable, but not huge ask at $209. And the second one was a sizeable ask just a few cents above the current offer.

So I went long with a target of 209.15 with a stop at the bottom of the candle (with a 10 cent slide).

The chart when I took the trade:

There was a pop to about 1R and I took a partial. Then out at B/E. I actually got an OK fill at B/E J

 

I was looking for another trade and liked BA long. I was about to take it but I have been burned so badly lately on all ORBs except the 1min that I was switching my platform to sim. Then I heard Andrew went long on BA. So that helped confirm that it was an OK setup so I went long in a live trade. My target was PDC with a stop at VWAP. My first partial had a bad fill, but then I carefully watched the bid and took my partials appropriately and got good fills. When it broke back down through the HOPM I exited.

 

 

What did I do good today? Stayed live after my first trade.

What I am grateful from today? Trading something other than BABA.

What I should improve on: Flipping trades. I knew I should flip BABA. But I can’t seem to do that if I had a winning trade, though small.

[Rob C 826]

Wedesday 12/18/2019

I had a well-being score of 7/10 this morning.

I took 2 live trade this morning with BABA and NFLX.

My watchlist: BABA, MU, NFLX, PCG and FDX.

Nothing too exciting in the PM. BABA didn’t really gap or have any PM volume. But it is good to see how it reacts in these low volume days. So I followed the same method. But the big print was instant at the open, like AAPL, so it may not mean much even though it was 295K shares. 6 seconds later was the sizeable (>2K) print (at the ask) but only 7 cents higher than the big print so I waited. Then another sizeable print at the ask. Though the 1min candle wasn’t the best looking, I liked the prints, L2 was a bit more bullish, we were above VWAP, the spread was tight, and mostly the volume was strong, so I went long. My target was 209.15 with my stop at the bottom of the wick.

The chart when I went long:

The price actually did reach my first target of 208.88, but spiked right through it my fill was almost back at B/E. Then the price was dropping. Before it hit B/E I decided to flip my position. Wow can not believe how bad the fill was. The exit fill was bad enough to give my first trade a slight loss and the second fill, to enter the short, was already 1R from where I tried to flip. I should have exited immediately. Instead I made the mistake of only taking a 25% partial and setting my stop order at B/E. It flew through B/E again and somehow made the second trade a slight loss as well. Only BABA can make two trades, the first one I tried to partial at 2R and the second I partailed at 1R. And both still had a loss.

NFLX had an interesting daily chart and had a good 2min ORB setup, but I was busy with BABA at the time. After the BABA trade I still liked price action and went long with half shares hoping it will drop back down and bounce from VWAP where I will take the rest of my shares. Which it did about 4 minutes later. My stop was the 316.80 level.  The target was HOPM. The price did move up and break the 318.20 level where I took a partial. The price retraced quickly and I took another partial because I was losing faith. Then out at B/E. Too bad if I stayed at my stop I would have seen a big run. But I have been so poor in the ORBs lately I need to presently stick to exiting at B/E.

 

 

 

 

 

 

 

 

What did I do good today? I took a live ORB on NFLX.

What I am grateful from today? Trading something other than BABA.

What I should improve on: Maybe it is time to create the flip hotkey.

[Rob C 826]

Thursday 12/19/2019

I had a well-being score of 7.5/10 this morning.

I took 1 live trade this morning with BABA. Didn’t have much time to intraday trade this morning as I needed to manage swing trades.

My watchlist: BABA, MU, RAD, CAG and AMRN.

BABA had good PM volume but it was really a block trade. I waited for the big print and it arrived right after the open at 149K which is right on the limit of go/no go. Then 2 or 3 seconds later a sizeable bearish print which is also right on the crux of useful since I like to see 3 seconds or more after the big print. Thus two borderline signals. Then a bearish candle was created and I went short when the price broke the 200MA-5min. My target was the 208.87 level with the 200MA-1min as my stop.

The chart when I went long:

 

Price immediately reversed and a bullish L2 signal appeared. The price did drop back to my B/E where I covered some shares to reduce my risk. The price bounced around for 2 more minutes. I saw SPY was strong and had enough and exited for small loss.

 

 

 

 

 

 

What did I do good today? Covered some shares to reduce risk and exited trade early.

What I am grateful from today? Finding that I need to see a larger print size without losing much in the trade.

What I should improve on: Will increase opening print size on BABA to 170K.

[Rob C 826]

Friday 12/20/2019

I had a well-being score of 5.5/10 this morning. Caught a cold from my daughter, but mentally OK.

I took 2 live trade this morning with BABA and X.

My watchlist: BABA, MU, X, NVDA, ROKU and KMX.

I am getting a bit bored trading BABA every morning so I was hoping to trade something else. But I did like how it was selling off into the premarket. The 5min chart looked bearish before the open. Instantly after the open there was a mild bearish signal in the prints and L2 (10k below the bid see image below). Plus, a bearish candle so I went short just 5 seconds after the open. My target was PDC with my stop at 211.60. The R/R was too big and I usually don’t do too well with large R/R at the open.

The chart when I went long. Note the bearish L2, prints and 5min chart.

After touching my stop and 2 minutes had passed I started losing faith and covered a few shares to lower my risk. Then I placed a limit order at 1R and waited. Soon after my order was filled. 2 minutes later I was all out at B/E.

My next trade was X. X gapped down in the PM and the 3^rd 1min candle was large and bearish. I liked that the price respected the PM level of 12.10. The price went back up to VWAP and bounced lower and I went short. I thought if it could break the 12.10 level it may run. My target was the next daily level at 11.75 with VWAP and my stop. I knew again the R/R was too big.

I was able to take a couple of partial profits but it never ran. I exited the trade when it made a double bottom.

 

What did I do good today? Covered some shares to reduce risk and exited trade early.

What I am grateful from today? Trading something besides BABA.

What I should improve on: It may be time to remove BABA from my watch list. I think I have learned all I can from it. Yes, I am consistently earning about 0.5R every morning from it, but it will inhibit me from becoming a better trader. Unless it is heavily in play that morning or slim pickings on the watchlist, I will not have it on my watchlist.

[Rob C 826]

Monday 12/23/2019

I had a well-being score of 5/10 this morning. Actually, it seems like I caught the flu, but mentally OK.

I took 1 live trade this morning with JD.

My watchlist: JD, MU, TSLA, BA, ITCI and SRPT.

I am getting a bit bored trading BABA every morning so it was not on my watchlist. Someone called out JD in PM and I liked it so made my list. It open strong then about 30 sec after the open it had both a big print (13k) at the ask and two L2 signals see image:

I went long, but instinctively gave it some give knowing my fill would be bad. Which it was and lost 10 cents on the fill. But since my stop was the bottom of the candle my share size was right on. I was feeling a little uncomfortable since I had no levels to choose a target, so I chose $37

I checked my recording and I did enter the trade before Brian called it. I am always worried I will start mirroring trades.

I was definitely bad with the partial profit taking. I should have set a limit order which has been working for me recently.

What did I do good today? Traded off the tape.

What I am grateful from today? Trading something besides BABA.

What I should improve on: Stick with the limit orders for partial profit taking, when ever possible.

[Rob C 826]

Tuesday 12/24/2019

I had a well-being score of 5.5/10 this morning. Battling the flu but winning,

Exactly at the open my platform freezes. Restarting didn't help so it may be the feed so I just waited it out. While waiting I switched to SIM since I don't really trust the feed anymore. The feed came back about 3 minutes after the open.

I made three similar trades. Entered the trade, got stopped out and then watch the stock run (in my direction) without me. I have an issue of not wanting to trade a stock that stops me out. I need to learn to watch it for a re-entry.

Everyone enjoy the holidays and your time off!!

[Mike B 624]

On 12/24/2019 at 7:28 AM, Rob C said:

Exactly at the open my platform freezes.

I had the same exact issue this morning with CMEG. Happy holidays

[Rob C 826]

Thursday 12/26/2019

I had a well-being score of 4.5/10 this morning. A splitting headache. No I don’t drink so it’s not the aftermath of all the Christmas cheer. Still recovering from the flu, but mentally OK.

I took 2 live trades this morning with RAD.

My watchlist: RAD. With my headache I thought either trade SIM or trade live but only look at one stock. RAD is what I liked the most, though I do not have shares for short.

My platform worked fine today, my chat did not. Though it is nice hearing Carlos positive energy in the morning, Brian’s calming voice and Norm’s humor and market updates, scilence was golden this morning. Th sound of my typing even hurt my head. I think my 5^th refresh finally got the chat to work after I was done trading for the day.

RAD still on a tear. I had a couple of levels to work with this morning. The plan was to go long if the price broke 16.94 with another signal (prefferably volume). I watched my recording and I did enter the trade right at the break of 16.94 but got a horrible fill and I am not happy I took the trade without confirmation. The price popped and I took a partial and got stopped out at at B/E with another bad fill. Not happy with my first trade.

My second trade was better. I took an 1min ORB on the break of the 17.16 daily level with a moderate L2 signal. My target was $18 with a stop of the 16.94 PM level. Stock didn’t move much until a huge >300K print hit the ask at 9:32. This print was not on L2 so it was one of those hidden prints that may be from an old transaction. But I was curious if it would move like I see with BABA after the huge print. It did. I took partials at 1min highs. Then all out on a bearish L2 signal.

What did I do good today? Traded the same stock twice. If the first time doesn’t succeed I usually don’t try again.

What I am grateful from today? Traded something besides BABA.

What I should improve on: Need to wait for a second signal for confirmation.

[Mike B 624]

Great partials on $RAD.