28th, 29th: Poor Entries

Summary

I should not be rushing my trades and getting shit entries. I have to be patience and pounce when I have a chance. There wasn't a trade here because there was no energy behind the first move and it wasn't really holding up.

Ticker: ALDR

Had a long bias and fucked up my second entry long. Afterwards, my poor entries scared me out.

Note: I should not be assuming anything from looking at any chart. I should take the information given to me and react.

Note: There was no passion in the pop, there was no reason to play this.

Note: I must be patient with my entries! 

Ticker: PBYI

I made money off this when I shouldn't have. No plan in the morning and played too much size when SSR was on.

Note: I must be careful and be ready 15 minutes before the morning starts. 

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22nd-24th: My Thoughts on Market Conditions

I've been pretty lazy with my thoughts on this and still haven't started on a single watch list. I will do so because that's my job. If I want to get paid, I must put in the work. I must stop being lazy.

For March 22rd

SPY is holding up and is looking it wants to get higher.Let’s see how it does between $205 and $213.

Gold is still consolidating, but if it breaks down from the uptrend, I should be looking for shorting opportunities. If it continues, I want it to retest $1266 and head higher.

Oil gapped up and wants to go higher. It’s on its way to $43.

For March 23rd

SPY seems to be consolidating, but still wants to go higher. I expect it to head towards and test $205-$213.

Gold tried to hold up, but keeps failing. If it breaks out of trend, I should be looking for overextended gold charts and start shorting. If it falls, key level is $1200 area.

Oil is consolidating, but I have a feeling it’s on its way to $43.

For March 24th

The SPY seems like it peaked out and wants to go lower now. Is the end nigh?

Gold broke trend, look to sell!

Oil has failed! Time to retest support at $38.30s.

24th: Follow Trend

Summary

I did not have a good day and it's because I did not follow my rules yet again.

My main problems

1. I am not following trend.  

2. When SSR is on, I forget to short the pops.

3. I do not accept my risk before I play. I do not let it test my risk over/under.

4. I never add to my positions at the right time.

5. I am sick too often.

Ticker: PTLA

This gapped down and I started off fine until the add. I did not stick to the plan to add if it peaks and I am definitely winning. My second attempt to short was decent, but I should have been okay with it to test $22. I wasn't okay with it so I got out. My short attempts later were absolutely stupid. $21 was the risk and I just got scared out because it was holding higher lows. It didn't even test $21. My last long attempt was just me trying to get fancy and I shouldn't be doing that shit at this stage of the game.

Note: I noticed that morning shorts are better when the pre-market patterns aren't developed fully. This one was developed fully so the panic didn't continue the wash. In the other chart, it worked better. 

Note: I should be following the trend and stick to the basics. I should not try to get fancy and if I do, I should be willing to pay more for the chart to confirm my theory is correct.

Note: I should be okay with the risk and should let the chart test over/under that risk before I make any judgement. The amount of times that I have gotten scared out because I did not is sad. 

Note: I must remember to short the POPs and if I miss it, then I miss it. 

Notice a mistake? Let me know below!

22nd: Abide the Rules

Summary

I must keep my head down and keep pushing forward. Doing something well today does not mean anything tomorrow. I must abide to my rules and play the setups I know. I mustn't force trades when I am up and mustn't be trading if I'm not well. The reasons why I forced the trade is because of greed and the desire to make more. It wasn't because the setups were good. I need to realize that the money will come once I trade well. Otherwise, I will never trade well.

I have come to question my health recently because of my lack of energy and increase of illnesses. I really hate being sick because it prevents me accomplishing anything. I need to take care of my body if I am to be successful at this profession.

These are all things I know and today serves as a reminder of why they are important. I rather ingrain them in my head today than tomorrow.

Ticker: MFRM

It gapped down and gave me an opportunity to short. I did not take advantage and shorted on weakness instead of strength. I got bear bad.

Note: When SSR is on, I must remember to short on pops or else I could get run over. If I miss the trade, then I miss the trade.

Notes: What's worse is how I did not let it test $38.30s thoroughly. This is a big problem of mine because I sometimes just assume that a stock is finished if it even touches my risk area. I must let it touch it and wait to see what it does afterwards before I make my decision.

Ticker: LEU

I forced this trade because I didn't want to miss out and wanted to make more money. I didn't trade this because the setup was good. The only play was in the morning and on pops along the way. The moment it dropped and held, I should have waited until it peaked $3.00. Instead, I anticipated received a poor entry and paid the price.

Note: I was up for the day and should have called it a day because I wasn't feeling well. Instead, I fell for the trap and got fucked. This was an obvious bear trap because of the way it consolidated and never broke $3. This thing was also low of days to make it worse.

Note: There was no play here except the long, but that is just 50/50. 

Ticker: SRPT

I was frustrated and wanted something to work, so I foolishly played this chart. I did not follow that the uptrend was clearly broken and fought it anyways. This was just stupid.

Note: Just stupid stupid stupid. I had no edge here because the uptrend was no longer valid. All I had was a lot of anxious longs wanting to sell to me.

Bonus Ticker: TSLA

Cygroup alerted this at a pretty good time. I just failed to play it.

Note: There is no excuse not to play this. I must be quick to realize the play and play it.

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14th-15th: My Thoughts on Market Conditions

I've been slipping recently with my updates and I think it's because there is so many things that happened last week. I realized that my stress from not posting will increase if I don't start somewhere, so I am going to post what I have and will continue posting until I get you guys up to speed.

I did hit my stride last week and I want it to continue. The only way to do so is to review my trades and get better.

For March 14th

Market came back with a bang on the 13th and it broke out of the $201 range. Now it will go on to $205 and test that level. Perhaps, that is when it will stall and peak. If that’s the case, prepare for the bear market to begin.

Didn’t expect the big pull back, but was probably from the market doing so well. Still in the uptrend and I expect it to continue to consolidate or break down. If it breaks down, I expect it to fade and test $1190s.

Oil is consolidating and really looks like it wants to test $40s. However, it might need more consolidating before it does that. Who knows, maybe it peaks out here and starts to fade. I still think a breakout is possible despite the fundamentals.

For March 15th

SPY channeled up for the day and made a new high. I’ll count this as a consolidation and it to push higher tomorrow. I see a positive week this week and positive the last stand for longs before the winter.

Gold broke down today and it’s going to want to test $1190s. I am expecting it to retrace a bit before moving lower.

Oil hit resistance at $39s. Here rejection there and I expect either a pullback or more consolidation. Looking at the weekly chart, it seems that this chart can flag before going higher.

Missed Plays

Summary

I definitely missed out on a few a plays today and I need to figure out why I am doing that. I had everything set and my sleep was better, but I still managed to miss. My only theory is that I am still not prepared enough in the morning and have been spending my time researching rather than preparing for the open. An example is 10 minutes until the open, I am still going through gap play lists. 

I should be using that time to make up a plan for the stocks I already have on watch. If I continue not being ready, I'm just not going to make any good trades.

Missed Play 1: VRX

Definitely a good looking daily chart.

 Note: I definitely had this on watch and I should have been preparing for this open.

The chart just went straight down with no pop. I did not know where to risk and the time it took me to finally figure it out, the risk was too much. However, I would have made money anyways.

Note: I should be risking whole and half dollar marks if there is no clear resistance. Even the high of day would be acceptable here which is basically $24. I had to market right in.

Note: My morning hesitations have caused me to miss many of these plays. It is because I am not ready for the open. 10 minutes until the open and I am still looking through charts. I should be on my trading platform ready to pounce on every opportunity given to me.

Missed Play 2: ZYNE

A trash sympathy chart and I blew it.

Note: I had this on watch because I was curious what it would do. However, it is kind of obvious since this was chart just came up because of GWPH. Looking for a short would have been the right choice given the market conditions today.

 

 

 Another perfect opportunity that I missed.

A

Note: Wow, a nice rejection and that was it. It even gapped down for me. I can't believe I didn't even bother to focus on this chart.

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14th: No Good

Summary  

Market ate me alive today because I made a few mistakes. I did not follow the trend and I played something I shouldn't have. Just things that I keep forgetting for no good reason. I am not happy with my results and will need to do better than this to get the results I want. 

Ticker: DDD

I shorted because of the lower high, but I did not looking at the full picture. I did not draw the trend lines. I just forgot the basics things.

Note: The setup was bad and that should always be the number priority. I did not bother to draw the trend lines and did not fully understand what was happening. .

Note: Perhaps I need more sleep.

Ticker: TA

I made a mistake. SSR was on and shorted on weakness instead of pops.

Note: I really wanted to make something happen with my account so I gave this chart a go. I thought it had a chance to fade for the rest of the day after it failed to breakout. However, I did not learn my lesson. SSR was on and I should have waited for the pops to come to me. I grew impatient and this is the result.

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7th-11th: My Thoughts on Market Conditions

Here were my thoughts on the market conditions last week. I don't think anyone would be interested in them now, but I did say I would post them. The reason I didn't post them sooner was because I wanted to include pictures, but that was way too much work. I didn't do any watch lists, but it's about time I get started with them.

For March 7th 2016

I really want to be looking at the SPY, OIL, and GOLD because they seem to be very active right now. I need to form an opinion about them and then think of a strategy to find the best trades. The best trades will lead to the most profits.

The SPY has definitely some resistance at $200 and I will be expecting a pullback tomorrow. If buying pressure continues, I expect the SPY to head towards $205 to test the waters there. If it pulls back, then I will watch it test the $195 levels. I will be expecting a choppy day for the markets tomorrow unless the market heads higher.

Gold future  continues on making big moves and it broke out of its flag on March 4th with heavy selling. I expect a short term consolidation before going higher and won’t be surprised if it wants to test $1300s. I should be thinking of longing gold at this point.  The problem here is if the market wants to continue going higher, then gold might take a drop.

Oil futures have just broken its downtrend today and may find itself heading towards $43.50s levels. It wants to go there and I will want to see how it reacts there. Oil stocks should be on an uptrend as of now.

SDRL - I know this squeezed many people out because they were covering since the owner was investing more money into the company. I will be looking for a long and my target will be towards $8. I’ll look for a uptrend to form before doing so or just a straight pop. If the name fails, I must look for it to peak out at $5.80s. $5.80s is definitely the key level here.

Target: $8+

Support: $5.80s

For March 8th 2016

Today was a big day for oil. I did not trade well because I did not respect my stops. I cared too much about money than the trade. I did not look at all the charts I had for the day so I missed a few trades as well.

So the SPY fended off the sellers and went to test yesterday's highs at 201. It is still in a range between 199 and 201 so I expect it to chop around until it makes a move. Most likely it breaks out tomorrow at this point and goes to test $205. I should be looking to long some big caps stocks. Looking at the big caps, it seems like a lot of them just sold off. Very strange.

Gold futures consolidated as I thought and has the potential to push higher. I expect the push and it to test $1300s.

Oil futures broke out of the downtrend and I should have played some oil today. Any oil name would have been good because it seems to be heavily shorted. I just had to find the right setups. I expect oil to continue its breakout tomorrow and head towards $40s. A pullback may be coming so I must look for the most exaggerated oil stocks and look for shorts.

For March 10th

The SPY sold off yesterday after it couldn’t break $201. It was a great day for shorting any setups that were overextended. It followed the oil move directly. Looking at the chart more closely, I should have expected a pullback based on the bars and volume. Tomorrow I believe the trend continues and tries to break $201. If it doesn’t, it either chops around at this range or it fails and we will be looking at a bear market.

Gold tried to push and breakout, but it failed on the 8th. The uptrend isn’t over yet, but it looks like it may fade off to test $1200 levels. If it holds, expect a breakout to $1300.

Oil touched recent resistance and faded. I should have been focused on closer resistance than later resistance lines. Oil came back strong today and I expect a breakout for tomorrow to test the $40s mark.

For March 11th

Market is confused on where it wants to go. It’s still chopping, but I have a feeling it will want to fade in the upcoming days. Market will be choppy tomorrow between $199 and $201 and will be fading if it peaks $199s.

Gold still wants to breakout above $1280 because the market is acting pretty weak. Expect a breakout to $1300. I should looking for gold stocks that want to go higher.

Oil is peaking at $38.50s despite the high oil fact. If it goes above that, it’ll test $40s. If not, then I expect a fade due to the fundamentals being weak. Very strange it is holding up this long.

Changes

I have made much needed changes to the site and now it's time for me to make a few changes. I've noticed that my progress on becoming a solid trader has grown stagnant and I refuse to fuck around any longer. This isn't because I want to rush things, but I do have some time constraints. If I don't make it, then everything I worked for will go to waste because I will be forced back to hell. I have all the tools now and I need to trade to learn the strategies that I believe are viable.

I have been negative throughout my posts and I don't believe it is doing anything but bringing me down. I will make it my mission to start being more positive and to bring back positive thinking in my life.

How do I become better?  
1. I will start posting my thoughts on the market conditions daily. 
2. I will post a daily watchlist and form a plan each prior day. 

3. I must become more confident in myself. No more negativity from here on out.

4. I will go over at least one video lesson per day from Investors Underground and take notes to better understand the strategies.

5. I will focus on trading every morning as every day I don't trade correctly is a day wasted. 

I noticed that I haven't been working hard enough. But now, I must work harder and smarter than ever before if I am going to make it.

3rd: No Edge

Summary

I did not play the stocks well today. My entries were piss poor and I was not able to find an edge in the majority of the stocks I played today.

Ticker: PRAH

My initial entry was bad and I had no reason to think that this would go higher because the trend did not form at all. I got psyched out on my initial short and should have risked higher.

 Note: I  need to be patient with my entry and have a plan before I enter these trades.

Ticker: HABT

I have seen something like this before where it just fades towards the end of the day. I did not let this setup work because my stop was too tight.

Note: I need to let the chart confirm that my risk has been hit instead of just assuming it has been hit. I must be patient.

Ticker: CIEN

There was no trade here.

Note: This was just a waste of commission.

Ticker: GRPN

The trade here just didn't work.

 Note: The trade didn't work and I have to accept it. I need to go through more of these trades in order to see if it is profitable or not.

 

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2nd: Read the news!

Summary

I played a few stocks and they were losers. I need to learn how to minimize my risk more or else it will kill me eventually. 

Ticker: BGFV

My entry was poor and a symmetrical formed. I got out in time tho.

Note: I need to get in earlier on these stocks to be in a good position.

Ticker: CBPO

Piss poor entry, but okay exit. I did not read the news on this one and it burned me.

Note: The news told the story that the second public offering was at $110. I should have known that anything below that was a buy and anything above that was a short because it stalled at $110 throughout the day. 

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