Chapter 1 Trading Journal #10 - 01/17/2019 -$42

4 min readOct 9, 2022

Overview:

I could have been flat on the day, hadn’t I messed up with the orders on $LMFA. Anyway, mental checks:

Was I aware of the $30 mental stop in the morning? Yes.
Did I try to avoid losing more than $30 on a ticker? Yes, but screwed up
In general, I felt like I gained something by being not afraid or scared and yet mentally uncomfortable to lose money. At this point, it’s defiantly a plus, which eliminates the amount of the bullshit trades intraday.
My goal for tomorrow would be to completely avoid a stock that will take more than 30% of my risk.
I stopped with VHC and it saved me a lot of money for today.

$LMFA — I didn’t do any preparation for this stock, so I didn’t want to touch it since it was not my main watch ( this is the right thing to do)

I shorted it into weakness below VWAP with a tight stop right above my entry.
The volume picture was perfect = descending triangle should have just left a trailing quarter) In general, I was too impatient with my covers here and completely missed an opportunity to capitalize on it.

LL:

Stocks, where you are in the money, should be getting the most of your attention to assure that you will get the most of them.
Do not add OTM
Think it’s a squeeze? confirm with volume. No? Then add shorts on the pops
I made second trade on it with the idea of squeeze, covered at the resistance.
Decided to get in again and made a first, not the best entry (impatient) and added OTM — stopped out here.
With the Squeezers thesis — Volume should be a required confirmation.

$TBLT — did not have any conviction.

Shorted pops into resistance, covered when got impatient.
I need to have more entries like this. WAIT FOR a POP. Do not do this on big Volume coming in.

$BIOC — Tried to short into pop, didn’t get in the money quickly, and got out for a small loss.

Re-shorted into VWAP break ( Here I was def too early)
Finally re-shorted against set level 3 ( after I saw the rejection) Pretty much that was my go-to setup “Lower High” — need to look for the same setup tomorrow

$KTOV My thesis here was it will push higher and then I short it, while I was anticipating the move I decided to get in and paid for it.

Should have just stayed away.
Need to add one more mental check for the trade: Is it Anticipation or Confirmation?

$CRMS Anticipated at least 10–15 cents into a conference call. Lost $3 — maybe should have taken away for flat.

$SAEX

So I lost $3, which I could have saved

$VHC Shorted weakness here — Clearly wrong move and Should have taken right away the moment I Was not in the Money.

LL: DO NOT SHORT WEAKNESS ON TRASH!

$LPCN Basically was flat on the name, until it turned into the bigger loser of the day.

I spammed layered orders in the middle of the day and got filled all of them = 400 shares. Sold them right away and bought 400 more on top and sold 4 cents lower.

LL: With places where there is liquidity I need to be very cautious and short only into the rejections/stuff

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