Watchlist for 5th

Main Watch
WFM - Looking to buy out of the open and risking towards $28.65s over/under. Any dips afterwards if it trends upwards.

RYAM - Will be looking for a weak open and risk towards. If it pops, I will see if it peaks around $13.60s and risk $13.75s.


Side Watch
TSRA - If it opens weak, I will short because I think there will be some profit taking like the other times.

TPUB - Offer by Gannett was rejected, I am interested to seeing how the stock will react to that. 

Watchlist for 4th

Main Watch
SRPT - Looking to short on weakness in the morning.

TSRA - If it opens weak, I will short because I think there will be some profit taking like the other times.

Side Watch
AAPL - I think a consolidation like today and a continuation from yesterday is appropriate.

2nd: Terrible Trading

Summary

I had a head start again in the morning and turned it into shit. I think my plans for the morning has become a bit better while I don't have any plans for the afternoon. If I want to play the afternoons, I must start scanning for stocks that I think will have a run in the afternoon. Stocks like SRPT where the daily chart didn't look half bad with a solid thesis behind it.

A trade with a thesis is something VinnyB always stresses and I agree. I think I am not doing well in the afternoon is because I never made any plans for those trades. They are ALL random! 

What will I do?

After today's loss, I have developed an aggressive money management strategy that is based on my current account size. It will help push the pace of my trading progress and help me finally define my risks/rewards where before I had nothing.

I will only play stocks I have a plan on. No more afternoon plays with no solid plans. I know I said it before, but now I must mean it. I will fail if I continue what I am doing and my account will reflect it. I have been reviewing my watchlist and some have been working. I will continue to post these and improve it as time goes on. 

I have discovered some of my ways to waste time and will eliminate them from my life. Time is a precious thing and I must use every second productively.

Ticker: DRYS

I shorted cause I just thought it was an unwarranted pop. There was no plan here.

Note: There was no solid plan here. It's a type of chart I should stay away from. It took back the money I made from it.

Note: There are times I know I am wrong and the chart gives me an opportunity to exit. I must take those opportunities.

Ticker: BRCD

I had no plan here and entered poorly. I got out because I realized that.

Note: SSR was on so I should have been patient when I missed my opportunity in the first minute. If I miss a trade, then I miss a trade. I must not chase it!

Note: I must realize that a bad entry is no go. If I miss a trade, then I simply miss a trade!

Ticker: ULTR

I saw an ABCD pattern here and decided to give it a shot. This was NOT a good play because the 15 minute chart did not support it. The pattern was broken and I still didn't get out.

Note: I noticed that ABCDs work when Cs last longer. This is because it has a longer time to consolidate. The plays I play are usually good shorts.

Note: I was given a gift by the chart to get exit and I didn't take it like an idiot. I was there hoping and that got me killed. I must realize when my idea doesn't work to GET OUT!

I got killed for playing the lull.

Note: I was looking for a short, but got killed. It wasted 3 hours of my life and had no volume. I shouldn't play this bullshit.

Note: My original plan was to see $0.55s peak, but I just rushed into the trade. I must WAIT for the trade to come to me!

Notice a mistake? Let me know below!

29th: Lucky Win

Summary

I was lucky today that it was a red day for the SPY. Otherwise, I would have fucked up badly.

Ticker: GILD

The idea was that it was going to head lower. This was on my watchlist.

GILD - I'll short on weakness in the morning for a quick washout. Otherwise, I will wait for a pattern to form afterwards to either go long if a trend forms or short.

I didn't follow my plan at all because I did not take my profits for a quick washout. I did not cover to break even when it went against me. I didn't do anything like an idiot.

Note: I should take account on what the pre-market did to see how the morning would react. The drop was already big, so I guess I could have guessed for some kind of bounce.

Note: I was way too slow to take profits and was in too much size due to the no odd lot restriction. I was already in a losing situation when I decided to play this stock. The best I could have done would be instantly cover if it didn't work and cover quickly if it did work. I did neither and lost big because my plan was NOT defined.

Note: The morning losses affected my play significantly on the trades after. My mind was no longer with me and I just took what I could instead of looking at the big picture.

Note: I should wait for the trade to come to me and if it doesn't, then it doesn't.

Ticker: SRCL

My prior losses definitely affected my play here.

Note: I should be objective and should not let emotions affect me after a significant loss. I must have a solid game plan before entering trades.

Note: I covered way too early in my first trade and should have added in given the trend it was in. My second exit was decent, but I should have anticipated for the $95 break really before covering.

Note: I was just happy I didn't give up trading for the day after the first trade. I just kept going saying that I can still make up. 

 

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Watch for 29th

I must remember consistency is the key. I must continue these watchlists to give myself the best chance of success.

Main Watch
ORIG - If oil looks weak tomorrow, then I will be looking to short the open or any pops afterwards.

DRYS - I will short at the open if it looks weak tomorrow risking towards $4.

GILD - I'll short on weakness in the morning for a quick washout. Otherwise, I will wait for a pattern to form afterwards to either go long if a trend forms or short.

Side Watch
BCOR - I will be watching for a continuation and will be getting in on any consolidations.

Watchlist for 26th

I must continue to be consistent in order to get better at trading.

Notes
I didn't expect AMD to fall like that today, but given the charts history, it is something I should have anticipated. The chart gave a good setup for a short and I wasn't prepared for it.

EBIO was a clear miss because I disregarded it since it was on my side watch. I must review all my watch list charts in the morning or else I wasted my time.

Main Watch
VKTX - I am still looking for either a gap towards $2.20s or parabolic towards there. Same plan as yesterday. Consolidation with volume pop and long or gap and short.

MCUR - Same plan with VXTX, but will be looking for that consolidation or fade/reclaim in the morning if it doesn't gap.

PRGO - I will be looking for a STX style bounce in the morning and more fades.

XRX - Same thing as PRGO. I will be looking for more fades after a bounce in the morning.

LGCY - Looking to short into any stuffs in the morning and risk towards $3.

Side Watch
NEOT - I might short if it looks weak. 

25th: Stop Too Tight

Summary

I missed out on a huge move, because I planned my risk like an idiot.

Ticker: PRGO

Looking to short the bounce and I got in a bit early. I had good sizing, but I had the wrong risk. I risked high of day instead of risking off whole and dollar marks.

Note: I should risk off of whole and half dollar marks for higher priced stocks.

Note: I should be watching higher time frame charts for higher priced stocks. 

Notice a mistake? Let me know below

Playing Not To Lose

Nothing has changed. I have not learned from my own lessons and every trade I've been taking has been reinforcing my bad habits. I can't blame anyone but myself. My head is not in the right place because I have been playing not to lose.

My cycle has become losing confidence when I trade poorly, not trading when I lose confidence, and trading scared when I trade. This is the cycle to failure and I need to snap out of it. I must assume that all the money I put in the market is lost and trade with no pressure. Even if a trade doesn't work, it doesn't matter because there will always be a next trade. I just have to make sure my plan minimizes risk and trade correctly.

I have noticed that my two biggest problems right now have been my poor entries and sizing. These are the biggest culprits of how I am losing the majority of my money. These are the only two problems I will fix until they are eliminated. Once they are, then I will move on to my other problems.

I have been talking a lot of bullshit lately and haven't been taking action. Now I will take action.

18th,19th: Don't Short Weakness

Summary

I must keep working hard on eliminating my bad habits and building more confidence for my trading. The only thing left that is keeping me from winning is myself. Every minute I spend NOT sharpening my skills is time wasted and I don't have a chance in winning if I slack off. I might be laughing it off now, but I guarantee myself that I won't be laughing anymore if I blow it. 

I have to realize that the time I have now is a gift. I am the luckiest person in the world right now with a golden opportunity to succeed. There is no excuse to fail.

Ticker: C

How the chart looked like on the daily.

Note: The chart looked good for more weakness.

 

I should have realized the higher low coupled with the fact that the market was going higher and covered earlier.

Note: Covering earlier and eliminating my risk should have been my top priority. The action it gave me screamed that it wanted to go higher. Also the fact that the market was ripping upwards was a clear sign to get out.

 

Note: I must take whatever the market gives me and react accordingly.  

Ticker: PTCT

The daily chart

Note: The chart had some good potential of pushing up.

Horrible entry.

Note: I had no business playing this chart and had the worst entry I could possibly get. Luckily I noticed and got out early.

Ticker:NFLX

Horrible plays overall.

 Note: I shorted weakness for some reason and on a stock with SSR on. I didn't have wide enough risk and my risk vs. reward for each were horrible.

Ticker: PM

Horrible plays again

Note: What the fuck? I keep shorting weakness and longing pops. This should have been eliminated from my trading.

Note: I keep rushing into trades. I must chill and be patient. 

Notice a mistake? Let me know below!

11th-14th: My Thoughts on Market Conditions

The only way to succeed is to be consistent.

For August 11th

Market slowing down and it looks like it may fall back down towards $201 to test resistance. It may be time to look for shorts and prepare for a bearish outlook.

Oil bounced back up and may go higher if it breaks $40. Let’s see what happens when it tests $50 and and $43. Bullish outlook for now.

Gold is coming back slowly and want to retest the $1260s level. Since the market is looking weak, we may see a resurgence in gold.

For April 12th

A lot of consolidation for the market, but it is starting to looking bearish. Probably want to look at the $201 resistance.

Oil may breakout to test $43. We shall see. Bullish outlook so far.

Gold about to hit resistance. I still think it can go higher.

For April 14th

The market has spoken and will be going up for whatever reason. I am guessing a $211+ test is possible. I should be on a look out for a bullish market.

Oil seems to have doubled topped and will be reversing.There is a channel between $35 to $42.50s and I will be looking for it to test $39 before it makes a decision on what it wants to do.

Gold has hit resistance at $1260s and coming back down. I want to see it test $1205 to see what happens next.

14th, 15th: Huge Miss

Summary

Something is definitely wrong with my psyche. I sized in correctly and still covered prematurely. There are two problems here, and those are my rules and execution. I am still developing a system for my trading and figuring out the best entry/exit strategies. Based on what I've seen, every day is different so some strategies work better than others. It is up to me to figure out the best course of action per trade. 

The type of play today was one where I could have held and added in on any pops as long as it didn't reclaim a level of support. I failed to adapt to that and missed heavily.

Ticker: STX

I got in early and was risking high of days. These are setups that I know that usually just fades all day and yet I cover early.

Note: The area I covered should have been the area I added to my position. There was no reason to cover here based on the the type of play and the action.

Note: For these types of charts, I should add to my positions.

 

Ticker: INFY

I bought the breakout instead of the dip on this stock and that was absolutely the wrong move. There was no momentum to buy the breakout.

Note: If a stock has no volume, then it is safer to buy the dips. The only time I should buy breakouts if there is a stock going parabolic.

Bonus Missed Play: WDC

I missed an entry on this chart as well which should have been a simple start with a risk towards $42.40s.

Note: I should be focused and be playing these charts. I must be prepared in the morning.

Notice a mistake? Let me know below!

11th: Let it Test!

Summary

I did not let the resistance test out as it should.

 Ticker: UEPS

I played this chart after it popped. I got scared too quickly because I played too much size.

Note: Watch size.

Notice a mistake? Let me know below!

Piss Poor Trades #4

The Road 

I made a series of disastrous trades that have led me to a dark path. I didn't report them because I just felt ashamed of these trades. I tried to do an internal review, but I realized that's just half-assed and isn't good enough. I must post a full review so I UNDERSTAND what I did wrong and to never do it again. These are career ending trades.

There are times when traders lose big and it is how they bounce back that shows whether they have improved. It is now my time to see if I can really make it in this business. 

My Problems

Problem #1: I missed many trades and I grew angry how I keep missing them. This is because I am unprepared in the morning when I have my morning charts set on 15m instead of 1m or 2m. This is because I am unprepared by scanning charts instead of planning for the trade.

Solution: I have to realize that this is my business. I must be a professional.

Problem #2: I have played charts with no edge and enter them at the worst times. I have no plans on some of my trades. This is because I've grown impatient and desperate. I know I am running out of time and am forcing trades.

Solution: The market is a bitch and I should treat it as such. I must be a professional.

Problem #3: My execution has become sloppy. I exit a stock even when I am winning. This is because I do not believe in myself and get scared when the markets move one way or another. I have become scared of the price movement.

Solution: I will believe in myself from now on even if I am wrong. I must be a professional.

Problem #4: I have become angry, frustrated, and play too much size.

Solution: I must chill and take one trade at a time. I must be a professional.

Ticker: GBSN

I should recognize the situation that this was not an unexpected parabolic move and the consolidation would take much longer to form.

Note: I must be focused on my trades and make sure all my tools are in working order.
Note: I should not play the a rebound off a non-parabolic stock after a huge flush.  
Note: I should not short randomly especially towards power hour. 

Ticker: LSTR

I should have recognized the recovery and the pattern and stayed away from the short.

Note: I should be away during these times or at least more focused. I should not be fucking around during trading.

 

Ticker: RPTP

Just a random trade from an unexpected parabolic.

Note: I gotta take a step back and understand the full picture. This was towards the end of the day and power "fucking" hour. I should not be fucking shorting because there was no more time.

Ticker: MOMO

These trades were a disgrace.

Note: There was no volume and no trend. I should have stayed fucking away. I did even worse because I shorted on weakness and covered tops!  

Note: If I have to hope for something in the market, then I already lost!

Ticker: VZ

Random trade on fucking Verizon

Note: If I traded this, then I know I am fucking desperate. There was no trade here at this fucking time. At this point, it was my emotions controlling me.

Ticker: UA

I need to recognize this pattern quick cause it fooled me so many times.

Note: I should not be scared of price movement and be objective when I exit a trade. There was no reason to sell that early because it didn't even test $44 which I wanted it to.

Note: The second trade didn't even breakout when I bought it. Another sign of desperation.

Ticker: SRPT

I shorted on weakness and was stubborn.

 Note: I must follow my plan or else I will just be giving money away.

Ticker: VSLR 

If I have a plan for my risk when I leave, I should also have a plan for my potential profit.

Note: I shouldn't be leaving when I have a lot of size in play. I should have a plan for if it succeeds when I leave. At least get out partial if it does what I want.

Lesson #1: SHORT POPS; BUY DIPS!
Lesson #2: DON'T PLAY TOO MUCH SIZE!
Lesson #3: DON'T ADD IN UNLESS YOU ARE WINNING!
Lesson #4: IT'S OKAY TO LEAVE EVEN IF YOU LOSE!
Lesson #5: UNDERSTAND THE BIGGER PICTURE!
Lesson #6: FOLLOW MY OWN FUCKING ADVICE!

Notice a mistake? Let me know below!

4th, 6th: My Thoughts on Market Conditions

I have problems with consistency because these reports should be done daily. I must take a look at my schedule and my habits to solve this.

For April 4th

I’m surprised. SPY is bullish and wants to go test $213s again. Before it does that, I think it consolidates a bit more before it does that. So prepare for choppy markets.

Oil has definitely slipped. I guess the run was just a squeeze before going lower. I want it to test and peak $38.50s before declaring it bearish. It can definitely drop like a rock so find some overextended oil stocks and short short short!

Gold is consolidating. I may be interested in shorting it if it peaks $1185s. Maybe it consolidates a bit and gives us some sideways action before making its move higher or lower.

For April 6th

Market is definitely still choppy and looking to go higher since it based $204s. I shouldn’t be playing any stocks with no volume or clear trend.

Oil has bounced and is heading towards resistance at $38.50s. I still want it to peak there before making any moves.

Gold is choppy and consolidating. I have a feeling it wants to go lower since the market wants to go higher. We shall see what happens.

4th: Fuck Emotions

Summary

I am disappointed on how I traded today. I broke my rules and it keeps being the same ones over and over again. My answer to this is to write down these said rules down and repeat them to myself every morning. 

I also need to tell myself to stay calm in the morning and focus on one or two stocks instead of ten. 

Ticker: BABY

I had issues with my sizing and my entry here. There was no play here because the of day and the volume just wasn't there.

Note: I should not be playing stocks at a bad time and with no volume unless there is a clear trend. This stock just screams choppy action!

Ticker: GNCA

I wanted to scalp, but I played too much size and got too emotional. I must be able to let stocks test resistance or else will always top ticked or bottom ticked out of a position.

Note: I should not add into my position unless I am correct. Adding into a position before I am right just adds more emotions into the picture, and I don't need that.

Note: I am already playing small share sizing; but in order for me to play more, I must limit my adds. 

Note: I should be able to let the stock test an area before making my decision to get out.

Ticker: ZFGN

I started in this position because I thought it was peaking. around this area. I added too early and my emotions got to me when I thought it was holding higher lows.

Note: Again, I should not be adding into my position unless I am right! 

Note: I must let resistance test and peak out or else I will be stopped out.  

Notice a mistake? Let me know below! 

1st: My Thoughts on Market Conditions

For March 28th

The SPY looks like it wants to go lower, but I think it’ll consolidate a little before making a decision. If it bounces, it’ll want to retest $205s. 

Oil looks weak, but it did bounce off of the support at $38.30s. It’ll probably consolidate a bit before heading back down.

Gold lower and I still think it’ll go lower. It’s looking for $1200 before it makes its next move. 

For April 1st

The SPY bounced at 201 and broke out. Now in $205 and positive territory. One more retest at $204s and it could be a green light from here. 

Oil is heading down and probably wants to go lower.

Gold bounced off of $1200 and made a lower high. I want it to retest $1200 and break it towards the downside. If not, then it may break out again and retest $1260s.

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. 

Notice a mistake? Let me know below!

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.

Notice a mistake? Let me know below!