Rob C's Trading Journal - starting Feb 1 2019

[Rob C 826]

16 hours ago, Mike B said:

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.

The fifth candle looks like a great spot to look for an entry. And I am sure your right, the R/R is not quite there without a pullback.

[Rob C 826]

Tuesday 01/15/2020

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

I took 2 live trades this morning both with TGT.

My watchlist: BAC, CLVS, NKTR, TGT, TSLA and PINS.

Stuck with two stocks, on my watchlist, with no shares to short. But, that is OK because I really liked TGT.

TGT gapped down with volume in PM. I did have a short bias. I had to wait 19 seconds after the open to wait for the big print. The price dropped below the 50MA-1min, the 117.16 PM level and engulfed the last 5min PM candle. None of them that much of a signal, but together and my bias I shorted. The price immediately reversed and I was quickly stopped out with slippage for a -1.3R loss.

Soon after the price broke another PM level and the 200MA-1min. L2 looked bullish and there were some nice bullish prints. So I flipped my position and went long with a tight stop of 117 and a target of 119. It took about a minute before the price really got going. Then I took way too many partials then out on the first new low.

 

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? My winning trade was more than twice the size of my losing trade.

What I should improve on: My partials really increase frequency when my nerves increase.

 

[Rob C 826]

Thursday 1/16/2020

Too busy at the open with managing swing trades to try any day trades. Swing trading journal link below if interested.

https://forums.bearbulltraders.com/topic/1536-rob-cs-swing-trading-journal/page/3/#comments

Hopefully everyone had a good day.

[Rob C 826]

Friday 01/17/2020

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

I took 1 live trade this morning both with MU.

My watchlist: SNAP, PINS, LK, AMD, TSLA and MU.

Stuck with two stocks, on my watchlist, with no shares to short. I see Carlos had shares to short for PINS on CME. But I don’t on Centerpointe.

Nothing really exciting on the watchlist so I chose MU by default on my main screen. MU gapped up in PM, but I had no bias. The big print hit only a few seconds after the open (~700k). 25 seconds after the open 3 signals occurred. We had a bearish 1min candle which just broke the 200MA-1min and a moderately sized bearish L2 signal. So I went short. PDC was my target and with $58 as my stop. Since my stop was tight I went half shares.

My screen when I entered the trade (note the L2 signal):

I was able to get 3 partials in before the price retraced, then due to a bullish L2 signal I exited the trade early. Though I would have gotten more of a drop if I used B/E as my stop I am proud of myself that I exited on the L2 signal which I have been trying to train myself to do.

My exit signal:

 

The total trade:

 

 

What did I do good today? Exited a trade on a L2 signal.

What I am grateful from today? Having MU on my main screen.

What I should improve on: Was a bit distracted with my swing trades to take another trade though none of them actually needed my attention at the open.

 

[Rob C 826]

Tuesday 01/21/2020

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

I took 3 live trades this morning both with MS, TSLA and JD.

My watchlist: MS, TCOM, AAL, JD, TSLA and TAL.

I tried my first ever rising devil trade on MS this morning and was stopped out. I have never tried it before so I went half shares. MS gapped down and was heading into the open weak. It popped at the open and I planned to split my shares into two. I would short at the $56 mark and again at the 56.18 tech level.  My stop would be at a PM level at 56.36. I stopped out a little early. The good news is I lost exactly the planned -0.5R. So at least the risk management was well executed for my first try at this setup.

 

TSLA was showing its usual strength. I missed the 1min ORB but at 3 minutes it was breaking a daily level (3 days ago close). So I went long at the break. Stop was tight at 537. I took a partial at 1R and set my stop at B/E where it immediately was reached and I was stopped out for a small profit.

JD was showing strength but not very good volume. So I went half shares on a 5min ORB. I entered a little early when the price broke the 39.40 level. Shortly after a huge bullish L2 signal appeared on the ask so I added the rest of my shares to my position. My stop was the all the way to VWAP with a $40 target.

L2 when I added shares:

I tried to take partial profits at the top of each 1min candle. My second partial was taken because I was giving up on the trade, but the price popped higher as soon as I took the partial.

 

 

 

What did I do good today? Tried my first rising devil trade and maintained good risk management.

What I am grateful from today? A profitable JD trade making my day well into the green.

What I should improve on: Keep practicing the rising devils.

 

[Rob C 826]

Wednesday 01/22/2020

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

I took 2 live trades this morning with FB and IBM.

My watchlist: NFLX, FB, SPCE, TSLA, IBM and AMD.

I didn’t like the watchlist today and considered trading in SIM. IBM and SPCE were OK, but I didn’t have shares to short for SPCE so I had IBM on my main screen. The other stocks were just filler, but didn’t like them.

I was watching IBM for a long. A resistance level formed the last 15min of PM and a level at 143.65 looked like a good place to go long. But IBM opened with no volume. Looking around I saw FB with a strong open on volume. When I brought it to my montage I immediately noticed a L2 bullish signal and went long. The price instantly reversed and I stopped out when the price broke the 222.29 tech level.

L2 when I took the trade:

The trade:

 

The plan I had for IBM was to go long when it broke the 143.70 level that was respected in the last few minutes of PM. But I was trading FB when that occurred. So I went to plan B, which was wait and plan to go long when it breaks the daily level at 155.59. As I was waiting I heard both Brian and Andrew say IBM looks strong. I usually do not get influenced by the chat very often. But FOMO was high missing the entry I wanted, so I went long slightly early. The price immediatley bounced off of the 155.59 and sailed lower. My stop was the 143.91 daily level but it flew through that I got a terrible fill for a -2R loss. I then promptly shut my platform down and walked away.

 

 

What did I do good today? I did think the FB trade was fine and executed well. It just didn’t work out.

What I am grateful from today? I was able to turn off my platform and walk away.

What I should improve on: My plan for IBM was fine, but I let FOMO get to me. I need to listen to CB. If I do that again I may start wearing this T-shirt every morning. It reminds me that FOMO is such a childish emotion and I should be able to control it.

 

[Rob C 826]

Thursday 1/23/2020

Internet outages in my area. No intraday trading this morning. I managed my swing trades by smart phone.

I hope everyone is having a green day!

[Rob C 826]

Friday 01/24/2020

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

I took 2 live trades this morning with INTC.

My watchlist: INTC, SYF, AXP, TSLA, SNAP and AMD.

I liked INTC and thought it had room to run. I was planning to take a 1min ORB or when the price breaks $67, which ever comes first. Then my DAS platform crashes at the open. I quickly restart it. I then hear Andrew complaining about the same issue. But the way I have my platform set up you can’t quickly restart. When DAS was back up I see I missed my entry on INTC. But not by much so I went long. The price immediately stopped moving as soon as I enetered and I was feeling uneasy about the trade. Then I heard Brian say he took INTC. The price then popped up a little and I took a partial and set my auto stop at B/E.

My stop was triggered in a few seconds. Then looking at the setup it looked good for a long again, so I got back in. This is usually difficult for me to do. Then I heard Andrew say he went long INTC.  My target was $68 with 67 as my stop. I took a quick partial out of nerves than a second one at the 1min high. Then as the 5min mark approached it looked like a great 5min ORB or ABCD. But it’s usually a disaster when I add into a trade. But I could feel it was the right thing to do. Then luckily a L2 bullish signal hit and I added in.

The L2 signal when I added:

Then I took a partial quickly due to nerves of adding. But then my partialing got better after that. Then all out when the price broke through the 9MA and created a reverse hammer.

 

What did I do good today? Got back into a trade and added into a trade. I usually have issues with both of those.

What I am grateful from today? Recovered quickly from IT issues.

What I should improve on: I am happy with my trade today.

 

Edited January 24, 2020 by Rob C

[Rob C 826]

Monday 01/27/2020

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

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

My watchlist: AAPL, BYND, MU, ROKU and AMD.

Almost everything in the red today. Though I don’t like trading BYND I like that it looks strong, bucking the general sentiment. And ROKU finally breaking below the support levels.

I had AAPL on my main screen, But after 20 seconds I saw BYND strong on my side monitor and moved it to my montage. The plan for BYND  was to go long on the break of HOPM at 122.40. But L2 looked bullish so I entered the trade early. My target was 126.74 and my stop was 121. My R/R was very large which usually doesn’t work but BYND went well above my target today.

Note L2 when I took the trade:

I actually got 3 partials in. Then I set my auto stop at B/E as a precaution. But honestly I was so far above B/E I thought I was safe. And then a few seconds later price spiked down hard and just caught my B/E order. So I missed the rest of the run.

 

ROKU has been making a descending wedge on the daily chart for awhile. Today it finally broke below support. I shorted on the low of the day. My stop was very tight at 124.74 support.  I quickly took a partial and then set my auto stop to cover at B/E. But I wasn’t on my usual DAS laptop desktop. I was on my swing trade search desktop, which apparently doesn’t have all my hotkeys set right and the hot key immediately covered. I didn’t feel like getting back in so I walked away for the day. Actually, since my stop was so tight I still made a bit from the trade.

 

 

What did I do good today? Entered a trade from L2 signal.

What I am grateful from today? Traded BYND live for the first time.

What I should improve on: I need to check all my hot keys on all my desktops.

 

 

[Rob C 826]

Tuesday 01/28/2020

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

I took 3 live trades this morning with LK.

My watchlist: PFE, LK, HOG, UBER, TSLA and XLRN.

I actually had UBER on my main screen, but LK dropped hard and snapped back making a hammer. I moved LK to my montage as it was breaking a PM level and 50MA-1min. L2 had a bullish signal so I went long immediately. The price action was still quite wild so I scaled back the shares a bit (~67%). My target was the 39.80 level, though there was a strong 39.37 level as well. My stop was the bottom of the wick.

What it looked like when I took the trade. Note the L2 signal:

The price popped immediately and I took a few partials. I was holding the last 25%, but I thought I was done for the day. Then LK was setting up again on a pull back. So I wanted to add in. I then made 3 mistakes. First, I took full share size. At most I should take is 75% to bring me back to full size. But now I have 50% too many shares. But SPY was popping so I got a bit too greedy. Then I got a bad fill. But I told myself the R/R is still OK, but it actually wasn’t. The 39.80 level is now irrelevant. The price action proved the 39.37 is the new target since it was respected. Now my R/R is ~1 and I need to get out of the trade. Then I heard Andrew bail on the trade, but I still held on since SPY was really popping. Finally the price broke down and I was stopped out and my green day became red. Though I haven’t looked at my P/L for 3 months so I am not sure how red.

I was managing my swing trades and I noticed LK was setting up again for a long. I wasn’t planning to take the trade but then a bullish L2 signal hit. Sorry I didn’t have my video on at the time so I can’t show it. But it was substantial enough to go long. It ended up a scalp, but I am sure it did get me green again. Target the 39.37 level again and 38.91 as my stop.

 

 

 

What did I do good today? Entered two trades from L2 signal.

What I am grateful from today? That third trade on LK.

What I should improve on: Must be careful on my share size for the add ins.

 

[Rob C 826]

Wednesday 01/29/2020

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

I took 1 live trade this morning with AAPL.

My watchlist: AAPL, AMD, XLNX, BA, LB and GE.

Good watchlist but AAPL was the only stock I liked the PM. AAPL was creating a pendant as it went into the open. I had 4 PM levels which was unusual for me. 30 seconds before the open the price broke one of those levels and had a bullish L2 signal. I went long with very small share size. Two seconds after the open we already had huge volume and price moving up. There was also another bullish L2 signal, so I added to my shares, but still not at full size yet. So we had three big asks. One at 325, second at 325.50 and the third at 326.The price dropped and tested my stop (VWAP/200MA-1min/50MA-1min and the $324) and bounced so I added one last time to my shares. I was now at full share size. The price moved up reasonably fast and I took partials to 327 then all out when it broke back through VWAP.

L2 when I took my PM entry:

 

L2 when I took my second entry:

 

The trade:

 

 

What did I do good today? Good use of L2 and I really like my 3^rd entry.

What I am grateful from today? Trading AAPL. It has been awhile.

 

[Rob C 826]

Thursday 01/30/2020

Power outage at 4:25am. Thanks PG&E (stock PCG). Power restored at 7am PST (10am EST), so I missed the open today. Managed swing trades by smart phone.

I hope everyone is having a solid day of trading. See you tomorrow.

[Rob C 826]

Friday 01/31/2020

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

I took 1 live trade this morning with CL.

My watchlist: NAV, CL, XOM, ADNT, POL and WWE.

Actually I didn’t like anything on my watch list so I just watch all six at the open. Finally I saw CL setting up. It made a small hammer on high volume. When it broke the HOPM I went long. I felt like I took too many shares so I sold some quickly. Too bad the price instantly shot up afterwards. There were a lot of levels above it so I thought $75 would be the strongest for my target. My stop originally was the bottom of the wick, but then sold some shares so my stop was 73.30, which was sort of a level formed in PM just before the open. The price moved quickly higher so not a stressful trade. I was spooked out after that 1min tombstone.

 

What did I do good today? Watching all 6 stocks on my watchlist and looking for volume more than price movement.

What I am grateful from today? CL making my watchlist, it almost didn’t.

 

So it is the last trading day of the month. I don’t write a monthly review anymore, because I don’t perform a monthly review anymore. I have been trying to get out of my habit of being flat every month. So I have stopped looking at my P/L for 3 months now. Though I can guess each day with a 1/2R accuracy what I did, I have not kept a running total in my head. This was the first of the 3 months where it feels like I did better than flat. I promised myself not to look so I won’t. But I will rethink my strategy over the weekend. Maybe it is time to start to looking again for next month. At least at the months end so I can analyze my trades more effectively.

What is also nice about having a positive month day trading is I am up +14R on my swing trades this month. So it was a profitable month for me.

My swing trade journal if you are curious:

https://forums.bearbulltraders.com/topic/1536-rob-cs-swing-trading-journal/page/4/#comments

 

 

 

Edited January 31, 2020 by Rob C

[Rob C 826]

Monday 02/03/2020

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

I took 2 live trades this morning with GILD and TSLA.

My watchlist: GILD, AAPL, PCG, AIMT, INSM and TSLA.

Funny, I had a good day trading this morning but my emotions are mixed because I did not complete my checklist before the open, so I did some sloppy prep work this morning. As usual the market punsihed me for lacking resolve. Which is a good thing, but ouch!

GILD was already setting up well in the premarket. I saw the price break a strong daily level at 66.71 and had a large ask in L2, so I went long in PM. I was quickly shocked by my fill of over 1% higher!! Though the spread was tight. It just happen to pop at that moment. At that point it was above the 67.40 daily level, so I used that as my stop. It was a very tight stop with 68 as my first target. The price moved up after the open and I took two partials then all out at B/E.

TSLA was my second trade. Popped higher at the open and the second min candle retraced back down to a PM level. When it bounced from that PM level I went log with a tight stop just below the 676.93 level. Since I don’t trust the fills on TSLA, even though I was 50 cents from the stop I gave it a $1.50 stop when calculating my share size.

I was nervous about the tight stop and took way to many and early partial profits. I exited the trade when I ran out of shares.

What did I do good today? Took tight stops today, which I am usually uncomfortable with.

What I am grateful from today? Trading TSLA. Which tends to unnerve me.

What do I need to approve on: Finishing my checklist. Yeeks! I was being lazy and didn’t open my swing trade platform. I didn’t have an open position and I thought it is good to wait until I am done day trading before I look. But I was being lazy. After my day trading was done, I saw NFLX setting up perfectly. As I noted in my swing trading post yesterday I would go long at the break of $350. The price broke that level and made a nice pull back to the 9MA. But I had to open my platform, go through the security, open the right account, place the order and hit the “are you sure?” Just before I hit the last button, the price popped. Only a dollar, but I felt it and didn’t want to take the trade. I backed away from my screen for a minute and came back and it moved $3 up. At the time of writing it has moved up $8 without me. Yep a good lesson to complete my checklist in the morning. The market is intolerable to lack of preparation!!

 

[Rob C 826]

Tuesday 02/04/2020

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

I took 2 live trades this morning with AAPL.

My watchlist: DIS, AAPL, BABA, NVDA, LK and TSLA.

Everything seemed extended. Then DIS and AAPL dropped some going into the open. The two minutes before the open AAPL started to creep higher. Then popped with good volume at the open. The price broke the HOPM and there was a good L2 signal with a large ask at 316. I went long, but not too many shares since VWAP is far away. The price never hit 316 and fell back and I was stopped out.

What it looked like when I took the trade. Note the L2 signal:

The price dropped and bounced from the 200MA-1min and created a hammer. I went long again when the price broke VWAP. My target was 317 and stop 200MA-1min. I waited to the HPOM until I took my first partial. And all out when the price dropped below the HOPM.

What did I do good today? Good use of L2, it just happen not to work out. I was 50% win rate today but was still well in the green.

What I am grateful from today? AAPL gave me a second chance.