Rob C's Trading Journal - starting Feb 1 2019

[Rob C 826]

33 minutes ago, Mike B said:

Great partials on $RAD.

Thanks Mike.

[Rob C 826]

Friday 12/27/2019

I had a well-being score of 4.5/10 this morning. I still have my prolonged headache and the last remnants of the flu. My well-being score is borderline, but since I did OK yesterday I decided to trade live as well today which was a mistake since I broke some rules, first time this month.

I took 2 live and 2 SIM trades this morning with RAD.

My watchlist: RAD and FLXN. I kept the watchlist small due to low wellbeing score.

An interesting day. Its good that I write the journal entry many hours from this morning. It gives prespective. This morning I was angry at myself, now I just think of it as good learning. Its funny (and productive) how the market really punishes me for breaking rules. If it didn’t I would keep on breaking them.

I used up way too much time trying to get the audio on the chat to work. I tried clearing the cache but the best I will get is about 1 minute of sound then it cuts out. Resfreshing once or twice will get audio back for about 1 minute again. Anyone else having this issue? Due to that I did not finish my checklist which I have a rule that forces me to SIM.

I was very long bias on RAD so much I broke a rule and entered into a day trade in the PM. Worse there was no confirmation signal. Price was holding VWAP so I went long. But I need a second signal to verify, but I went long anway (half share size). After the open the price dropped below VWAP and I was stopped out. I have been getting better about staying with the stock and re-entering if there is a good detup. Usually I just went to bail on a stock that stopped me out. I have been getting better recently about re-entering, but not today. Instead I switched over FLXN.

FLXN looked like it was setting up for a short. I needed to be patient and wait for the setup. I waited a couple of minutes and the setup was there. I tried to enetr the trade but my short was not filled. I went backed to RAD to discover I missed a huge move. I relaxed and noticed a nice billflag was setting up. I enetred the trade when I saw a L2 signal. I got one partial then S/O at B/E. I switched to SIM since I am at my max trades per day and tried a long again. Same thing, I got one partial and out at B/E.

10 minutes later RAD dropped below VWAP and was heading back up. When it broke and held VWAP I went long with the bottom of the candle as the stop and HOTD as the target. Price made a nice move.

 

 

 

What did I do good today? During the RAD trade I got notifications that two of my swing trades were stopped out (Etrade) and It did not distract me.

          Swing trade journal link if you are curious:

https://forums.bearbulltraders.com/topic/1536-rob-cs-swing-trading-journal/page/2/#comments

 

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

What I should improve on: Not just a rule breaking day but I was deciding if I feel well enough to trade live today. If you have to decide then you are not ready.

[Glenn Budde 356]

On 12/27/2019 at 9:37 PM, Rob C said:

10 minutes later RAD dropped below VWAP and was heading back up. When it broke and held VWAP I went long with the bottom of the candle as the stop and HOTD as the target. Price made a nice move.

I wanted back in where you took this but I was in my Journal and when I looked back at it, it was already past the entry....

Nice trade and way to stick with it.

[Rob C 826]

2 minutes ago, Glenn Budde said:

I wanted back in where you took this but I was in my Journal and when I looked back at it, it was already past the entry....

Nice trade and way to stick with it.

Thanks!   And I thought your RAD trade on Friday was dead-on perfect.

[Rob C 826]

December 2019 Summary (I always end the month on a Friday)

I have stopped looking at my P/L for day trading so I don’t know where I stand on a profit stance this month. I feel like it was another flat month.

The opening scalp on BABA worked out very well this month. I wait for the huge print and if large enough I use the next big print to help determine direction. The 1min forming candle has to coincide with the direction and breaking a tech level is ideal. I had 9 winning trades, 3 losing and 2 B/E.

My ORBs win% really dropped the first 3 weeks of December. Essentially, I would give all the BABA profit back. The last week I took BABA off my watchlist and focused on other stocks and my win% improved.

I started swing trading in December so some days I was not able to trade if managing the swing trades was too demanding at the open. It was kinda cool having a +12R month on my first month of swing trading. I know it had much less to do with skill and more due to the bull market. It seemed if you were long you would have made money. My swing trade journal as at the link below if you are curious:

https://forums.bearbulltraders.com/topic/1536-rob-cs-swing-trading-journal/page/2/#comments

 

[Rob C 826]

Monday 12/30/2019

I had a well-being score of 4.5/10 this morning. I have increased the lower well-being limit to trade live. So I traded SIM today. Actually I took a nice ROKU 5min ORB SIM trade. But SPY was really tanking so I guess it didn't really matter what you traded this morning as long as you were short.

I hope everyone stayed green.

[Rob C 826]

Tuesday 12/31/2019

I had a well-being score of 5.5/10 this morning.

I took 2 live trades this morning with RAD and ROKU.

My watchlist: RAD, TSLA, NIO, NVDA and AMD.

Busy in the PM taking a partial on one of my swing trades BE. I thought it possible I will get stopped out on my other 3 swing trades at the open.

RAD was my primary watch. But I did not have shares for short. Without short shares I sometimes force long setups though they don’t exist. So I had to be careful. L2 looked good at the open with two large asks (5c and 20c above the current ask). I almost went long on that signal, but I needed at least a second signal for confirmation. The huge print arrived (175k) so at least I was waiting for the next big print for direction or a bullish 1min candle or the break of HOPM.

35 seconds after the open I got the next big brint which was bullish (but not overly), the 1min candle looking bullish (but also not overly) and a bullish L2 signal (though not that large). So three mild signals. Honestly, it was the order flow that got me to pull the trigger. It was really moving. Target was the daily level at 15.63 and my stop was 15.04.

What it looked like when I took the trade:

I took three partials and I stopped out a little above B/E.

 

The next trade was ROKU. I actually liked the setup for a 2min ORB but the price was really jumping. Then the price movement calmed down for a 3min ORB. I went long when a white hammer was created with the 4^th 1min candle and the break of 130.50. Target was 132.63 level with 130 as my stop. I took 2 quick partials then S/O at B/E by a penny (again) and I missed the run to my target. It’s funny I moved my B/E stop hotkey to 2c lower because I keep getting S/O by a penny and I still got S/O by a penny. 

 

 

What did I do good today? During the RAD trade I got notifications that two of my swing trades were stopped out (Etrade) and It did not distract me.

What I am grateful from today? Traded ROKU live without getting chopped up.

What I should improve on: It’s the last day of the year and I like my trades I am not going to be negative today.

 

So no more day trading for me until next Monday. Wish everyone a Happy New Year and be green rest of the week!!

[Rob C 826]

Monday 01/06/2020

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

I took 2 live trades this morning with CRWD and AMD.

My watchlist: CRWD, TSLA, NIO, NVDA and AMD. I didn’t really like my PM watchlist. I didn’t have shares to short on the stocks on the gappers list. AAPL and BABA are on my no trade list so I can learn to trade other stocks.

I had a strong long bias on CRWD and was on my swing trade watchlist. The stock gapped up in PM but was dropping as it headed into the open (which I liked). Then headed lower after the open. The big print was instant (200K) and there was also a mildly bullish L2. But I waited for the next big print. The price dropped and bounced and we got some bullish prints and I went long when it broke above the 200MA-1min. This was unusual for me since we are still below VWAP. My target was the 52.87 daily level and my stop was the bottom of the 1min candle.

The instant after I went long L2 became bearish and I waited and about a minute later L2 became nuetral but the price had trouble breaking VWAP. On the 8^th rejection (not exaggerating) of VWAP I took a partial to reduce risk. A minute later it hit my stop where I exited the trade. Then the price immediately reversed and didn’t look back and thus I missed the 8% run.

 

I did hear Brian taking AMD at the open though I always get burned when I do that so I haven’t tried a 1min on AMD for awhile. But I saw the price holding onto the 48.24 daily level as support. So I went long with the 200MA-5min as my target and a really tight stop of the 48.24 level. The price did move higher where I took a quick partial and set my auto stop on B/E where I got stopped out very quickly. There was some slide so this trade was actually a slight loss.

 

 

 

What did I do good today? I liked I took some shares off to reduce my risk on CRWD so I didn’t take a full R loss. I like my tight stop on AMD.

What I am grateful from today? A few minutes after I was finished my day trading I took CRWD long on a swing trade and I did catch the big move.

What I should improve on: I let my bias caused me to take the CRWD trade too early. Also, I still need to keep making my stops looser.

 

I may be unable to trade tomorrow, so good luck to everyone. See you Wednesday.

[Rob C 826]

Wednesday 01/08/2020

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

I took 1 live trade this morning with M.

My watchlist: M, TSLA, WBA, BA, MSFT and AMD. I wanted my entire watchlist to have shorts shares available.

M gapped up in PM but entered the open on a downward trend. But opened strong and engulfed the last PM 5min candle in the first minute. There was a strong PM level at 18.25. So I went long when it broke the level. May target was 19 and 200MA-1min was my stop.

M was actually a stressful trade. There really was no clear movement. When looking at the 1min chart now there looks like there was nice flow, but it felt like I could be stopped out at any time. I took a partial profit at VWAP twice. Both times because I was losing faith that it would break VWAP. It finally did and I got another partial, but it didn’t hold and the price broke back down through VWAP. I exited when it was obvious it was a false VWAP break. Then it actually looked like a good short, but my nerves were spent and thus done for the morning.

 

 

What did I do good today? Traded from candle stick and levels today instead of the tape.

What I am grateful from today? Knew myself well enough not to take another trade.

What I should improve on: Reduce stress during trading. I have really improved on this over the past year, but I still have a way to go.

 

 

[Rob C 826]

Thursday 01/09/2020

I had a well-being score of 6.5/10 this morning.

I took 2 live trades this morning with BBBY and KSS.

My watchlist: TSLA, BBBY, KSS, MSFT, SNAP and AMD.

BBBY gapped down a lot. Then 10 minutes before the open moved higher and bounced off a daily level at 14.95 and was heading lower into the open. Then at the opening bell was quite strong. With in 50 seconds engulfed the previous 5min candle. I saw a bullish L2, with multiple moderately sized asks (though none very large) and a very flat L2 bids. The volume was strong. Then the price broke both VWAP and the 14.75 PM level and I went long. My stop was 50MA-1min.

 

Charts when I took the trade. Note the bullish L2.

Though the signals looked good, there were two mistakes. First was the R/R. There was a REALLY powerful level near $15. First the dollar mark is powerful, second there is a really strong daily level at 14.95 which BBBY already respected. Third, the 50MA-1D was at $15 as well. But if I use that level as a target I have a poor R/R. There was another strong target at 15.85 but it wasn’t stronger than the one at $15. But I liked the signals so much I went long without a real target. I did promise myself to take a large partial at the 14.95 level. It missed by a few pennies. Shortly after it missed the bullish L2 disappeared and a bearish L2 appeared. That was my signal to get out. It happen at B/E as well. But I am still not strong enough to do that and I held to my stop. My stop had some slippage so my loss was larger than -1R.

 

My next trade was a disaster and definitely a revenge trade. KSS was showing some strength at the open and was an 1min ORB candidtate. The signal would have been to at least to wait if it broke the 46.10 daily level. I remember checking L2 and there was no signal. I do not remember checking volume. Which on the replay was low and untradeable. Before the break of the 46.10 level I went long as a revenge trade with no signal. But the market is always good to me about teaching me lesson as it instantly dropped hard and flew through my stop and I took a -2R loss.

I started feeling the revenge trading symptoms really start to grow so I quickly turned off my platform and walked away. -3R is enough today.

 

What did I do good today? BBBY was an OK setup.

What I am grateful from today? I turned off my platform and walked away.

What I should improve on: Need to go back to my old rule to take at least a 1min break after a full -1R loss before taking a new trade (except for flips).

 

 

[Rob C 826]

Thursday 01/10/2020

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

I took 2 live trades this morning with NVDA and SIX.

My watchlist: NVDA, BBBY, LK, SIX, PTLA and GRUB.

NVDA gapped up in PM. I was actually looking at SIX on my montage and NVDA was on a side chart. I saw it created a very bearish reverse hammer, had strong volume and was about to break the 50MA-1min, which was a good place to short. I saw SPY was dropping. So I brought NVDA to my montage as it broke the 50MA-1min. I imediately went short. That is when I noticed L2 which was quite bullish. Uh oh. I was in such a rush not to miss the move I didn’t check all the signals.

Bellow is when I took the trade. Note L2 was bullish, which I did not give myself time to check. I shouldn’t have taken the trade.

 

As soon as I noticed L2 a couple seconds later I covered a few shares to reduce the risk. I have difficulty exited trades in these circumstances. Something I am working on. As time passed SPY was dropping, so I thought to give it some time. But I finally exited at my planned stop at VWAP.

SIX gapped way down. I actually had shares to short. 30 seconds into the second candle it engilfed the first candle. There was no signal on the tape. There were also a few levels below that it would have to punch through. But I really like the 50MA-1min was near by as it acts as a magnet and most of these level were really old. So I went short with the low of PM as my target and 37.16 level and VWAP as my stop.

 

When I took the trade:

I didn’t have to wait long for it to start to drop. I get a bad fill on my first partial, but after that I watched the spread really close and the fills were much better after that. The price did reach my target but would not break it. I waited 8 minutes as the price went sideways then I exited when it popped back up and broke $36.

 

 

 

What did I do good today? Didn’t lose it after a full -1R loss on NVDA. And finished the day well into the green.

What I am grateful from today? I was able to manage my swing trades at the same time as the day trades. After my first loss I still finished the day well into the green.

What I should improve on: No matter how much of a rush you need to go through you checklist (setup, volume, L2, T/S and SPY).

 

 

[Glenn Budde 356]

I like that when you recognized a setup that was not as good as you thought, you reduced your risk. I use this also when I feel price action is not as good as I thought it would be. And very nice on SIX ....

 

[Rob C 826]

Monday 01/13/2020

I had a well-being score of 6/10 this morning.

I took 2 live trades this morning with FIVE and JD.

My watchlist: AMRN, FIVE, LK, JD, TSLA and NVDA.

I didn’t like the stocks that were moving today. Very few had shares to short. When the majority of my watchlist is void of shares to short I get an unavoidable bias to go long. So scrounging around I replaced a couple to get the watchlist above. But not to excited about it.

FIVE was on my main screen since it was the only stock of any real interest. FIVE gapped down big and I had a short bias. The opening big print occurred in a few second (80K) and there were a couple moderately sized bearish prints afterwards. Volume was OK, but not great. But I then decided to go short if it breaks down under 96.50. It did and I shorted with a terrible fill. But I was light on the share size in case that happen so my risk was still OK. I had no final target, but would definitely take a partial at the first daily level at 95.67. The price dropped quickly and I took my first partial. Then reversed quickly so I set a limit order to cover at B/E. Which a few seconds later it did. This time I got a good fill so I made a small profit.

 

 

 

JD had just enough PM volume to make the watchlist. I like it was making an all time high. JD opened with a bullish 1min candle and OK volume. But L2 is what got me to take the trade. Since JD is at an all time high so I didn’t actually have a target.

Charts and L2 when I entered the trade:

I did take a first partial profit too early from nerves. But then tried to take a partial at the high of the 1min candles. By the end I had so few shares left I tried to hold for a bigger move. When I saw it wasn’t going to happen I exited.

 

 

 

 

 

 

 

 

 

 

What did I do good today? Used L2 well. I bailed out of FIVE quickly when momentum reversed quickly.

What I am grateful from today? I was able to find a workable watchlist.

What I should improve on: I am starting to get back to my old ways of taking that first partial profit too quickly.

 

 

[Mike B 624]

I had $JD on my watchlist to. I almost took the entry on the fifth 1 minute candle when it pulled back. I was looking for it close lower than the previous candle and then take the entry when the next candle broke above.

[Rob C 826]

Tuesday 01/14/2020

I had a well-being score of 6.5/10 this morning.

I took 2 live trades this morning both with WFC.

My watchlist: BAC, DAL, NFLX, SDC, TSLA and WFC.

My watchlist weighted strongly with stocks that have short shares available. I like to limit to one stock that is void of short shares for my watchlist. Too many short free stocks and I get a long bias.

WFC was a rising devil candidate which I have never tried before. WFC opened with no volume. So I waited for the opening big print. It arrived exactly at 1min after the open (>500k). Is that a coincidence? The price bounced off of the 50MA-1min twice and was heading lower. L2 and T/S were neutral but I liked the order flow and the bearish 5min chart, so I shorted. My target was 49.78 daily level with a tight stop of the 50.54 daily level which is a R/R~2.

The charts when I took the first trade:

 

It sounds from my recording I entered the trade about 10sec before Brian, which is good since I am worried about mirroring trades. I did get two partials in before getting out at B/E. The price bounced off of VWAP and headed lower again. I shorted again. I got in one partial then out at B/E again.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What did I do good today? I got back in on a trade. I usually don’t like to enter a trade on the same stock twice.

What I am grateful from today? I was able to find a workable watchlist.

What I should improve on: I need to create different hotkeys to handle the really expensive price stocks (TSLA and NFLX). They have gotten so high in price my current hotkeys don’t allow the correct share size.