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.