April 8–12, 2024

The pipeline of opportunities was improving early last week, but it looks poor again going into next week. It looks like we may need more time to reset.

This past week I was traveling again and I expect to travel frequently this year, so recently I have focused on improving my process around this. A couple of new improvements I tested this week were:

• Pocket sized plan and very narrow FL: Narrowing to a maximum 6 names on the daily FL so I can write down my daily plan and each trade plan on a blank card (the size of a business card) that I carry in my pocket or wallet. I include plan, share quantity, entry levels and initial stop levels. If my alerts trigger I have all of the info I need to execute an order and set stops on my phone without flipping through multiple apps which slows down execution.
• Automating trailing stops: After seeing @stonkdadddy on X discuss automating his sell rules in TOS, I knew this is something I should test because one of my weaknesses is sticking to my sell rules plus when I am traveling and working away from the desk I often miss my initial sell spots. I found someone on Fiverr to help write and tweak a simple script for me and now have my first intraday trailing stop that uses a moving average. It releases a market order when the first 5MIN candle closes below the 120SMA which is roughly the equivalent of the 10H SMA. On a swing I will wait until day 3 post entry to enter this order and let it work. Last week was testing on 1 share orders and this week I used it live on larger orders and it worked flawlessly.

Open Positions

DDOG 4/9 took 12% size 0.5% risk. Pivot. Entered break of range. Stopped out. DDOG 4/11 re-entered took 12% size 0.5% risk. Pivot. Entered late, break of range high. Higher cost basis than planned.

LAC 4/10 took 12% size 0.25% risk. Pivot. Entered break of PD high. Sold 1/2 into close.

URA 4/1 took 12% size 0.5% risk. Cheat/Pivot in handle. Entered on break of DTL and recent range high. Delayed entry. Trimmed 1/2 on close below 10H SMA. Remaining stop set to BE. If we can break above 2 year base, looking to hold this as a position and add back to it. 4/11 added.

COIN 2/26 took 6% size 0.25% risk. Pullback. Entered at open on break of PD high. Added break of 5m ORH, increased to 12% size with risk to 0.5%. Trimmed into strength +3R, now 10% size. 2/27 didn’t take opportunity to trim on gap up. 2/28 trimmed 1/2 of remaining COIN position +6R. 3/20 missed opportunity to add. 4/13 added small.

IBIT 2/7 took 12% position with 0.5% risk. 2/12 trimmed. 2/26 added. 2/28 and 2/29 trimmed. 3/8 added.

Closed Positions

AMAT 4/11 took 12% size 0.25% risk. Pivot. Entered on break of PD high, early entry. Looking for it to close above range, but never broke out. Closed -0.31%.

AXON 4/10 took 12% size 0.5% risk. Pivot. Entered break of range, late entry on phone. 4/12 trimmed 1/3 on 10H SMA and closed balance EOD. Overall BE.

AVAV 4/8 took 12% size 0.5% risk. Pivot. Entered break of PD high and ORH. 4/9 stopped out -0.62%.

DELL 4/1 took 12% position with 0.5% risk. Pullback. Entered on break of DTL and recent range high. Slightly delayed entry. Trimmed 1/2 on close below 10H SMA. Trailing balance with 10D. 4/1 closed balance. Overall +0.66%. MFE +2.01%.

The information above is my personal journal and reflects my opinion. It is not intended to be investment advice. Seek a licensed professional for advice.