29th: Making a few bucks

Summary

I am learning a new strategy provided by my prop firm and I like it very much. I have been able to make a few bucks off it. However, I have not been trading this strategy to its fullest potential. The market has turned into something completely different than before so I must adapt or die. 

Ticker: UNFI

This thing gapped down big and I missed out big.

Note: I need to stop getting psyched out unless it really grinds. I need to be comfortable with the risk I am willing to take.  I must play good setups once I do have houses money. 

Note: I mustn't be scared!

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17th, 18th: Tricky

Summary 

I am starting to take trades without any hesitation, but I am starting to realize how much my ideas suck. I need to start thinking about why something is happening 

Ticker: RAX

The daily. I thought it could go lower.

How I traded.

Note: I need to get out of losers earlier.

Ticker: ZFGN

The daily. I thought it could go higher.

How I traded.

Note: Need to be more patient and wait for things to work itself out.

Ticker: JACK

The daily. I thought it would go higher cause of the name.

Note: The idea was okay, but the execution wasn't the best.

How I traded. It was tricky for the day.

Note: I shouldn't be playing symmetrical triangles. They are too tricky for me. 

 

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12th: Avoiding Easy

Summary

I have been playing hard setups instead of easy ones. The hard ones are basically guesses because they give me no edge at all. I am reverting back into old habits of playing random stuff and it has to stop. The reason I am playing these bullshit stocks is because I am looking for the fast move. I have to remember that even though they might be fast, they will not be good trade for the future. I should not be picking up these habits.

I also have to remember that if a trade looks good on an easy setup, then I should play it. There is no excuse not to play it. If the risk is too high, I lower the amount of stocks I get. It's that simple.

Ticker: SCSS

No reason to trade this!

Note: There was no point in time that this chart gave me an edge to trade. No fear, no panic, nothing! There was no stuff and there was no bar making lower lows. The volume also died down which made it even worse.

Note: This was a trade due to anger since I wasn't taking the trades I should be taking.

Note: I did not follow the trend and got burned once again. When will I learn my lesson?

Ticker: ICPT

Played small, but no edge.

Note: The only trade available was towards the top at 128s. This was where I missed the entry and since I wanted the action, I wanted to play. I need to learn that if I miss it, I miss it. There was no other patterns that gave me an edge here.

Note: I should not be doing 50/50 trades. I played small and lost.

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8th, 10th: Don't Fight Trend

Summary

I have a big problem on my hands and that is not following trend. If a stock is grinding higher, then it will probably want to go higher. I can't make assumptions of it wanting to go lower unless it does it. Today, I fucked up big time because I flipped my position.

Everything was pointing up and I was ready to go long. When the bars were forming, I just had a glimpse of a perfect scenario and then everything switched. I blinded myself by wanting to see something that wasn't there.

I fought the trend and lost. 

Ticker: SPWR (02/08/16)

Played it okay.

Note: Need to be on the lookout for the bigger picture. As you can see, it worked the rest of the day.

Ticker: SCTY

 

The daily looked okay for quick pop and fade, wash and recovery, or grind and recovery.

Note: When trend held, I was looking to long it in the beginning, but it moved very slow.

It dipped and held a higher low compared to pre-market. Then it grinded up and broke out. My initial idea was to long, but then something came over my head at 11:00 which made me think it would be a short. I should have known better than to fight a trend though.

Note: I thought the grind was slowing down and beginning to turn at 10:55 when I was looking for the long. Then I just decided to switch my bias to short. The problem here is was that the longs won the 10:55 bar.

Note: Some psychology here is what would I do if I were in certain points of this trend. In the morning, there was a gap down and the initial pop was a sell off for those who wanted to get out. As soon as it held the higher low, as a new investor, I would not be scared unless it went below $18.20.  There was no lower low at any point so I would have been okay with it grinding. 

Note: DON'T FIGHT THE TREND! 

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4th: I fucked up trading

Summary

Poor entry and execution are the topics for today. I decided to take some trades after stalling for a while and they were not pretty at all. I did not assess the information given to me properly and entered way too early. I did not bail quickly which meant I did not know my platform well enough. I am not watching the charts closely enough. I shouldn't be making any of these mistakes at this point and I have myself to blame for not being ready. I will adjust this by doing the following.

I  wrote out the hot keys for my platform, but am too slow to turn the page to look for it. I will print out the hot keys so they are in front of me. I will write a plan out in a different format so I can be dynamic during my trades. Perhaps just a risk towards a level and points of interest. I will adjust my charts so it is easier to see.

I fucked up bad today, but at least I am finally taking trades. I can finally start learning properly by trial and error.

Ticker: VHC

Gapped up and I was looking for a strong push.

Note: For these gap up plays, I should really be looking for some kind of trend to form. I have to be ready for the short opportunity as well.

Note: Classic sell the news type shit. It seems I have forgotten some basic concepts already. 

Played this blind.

Note: It seemed like I was blind when I took the trade. It was also here when I realized that I am not good enough with using the platform.

Ticker: GLUU

This looked like a regular gap and fail type of chart.

 

How I played it.

Note: I was not patient enough and started too soon. I don't think the stuff was on enough volume. I should have got out immediately when it started to hold and grind. 

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