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. 

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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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