Chapter 1 Trading journal #35 - 02/27/2019 +$48
Trading overview:
Feeling completely exhausted. I‘m started to be more aware of how I feel based on my trading. Was not able to take any real risk with WTW. Even the risk I suppose to have, Sold too early. This one trade could have turned my day into $100 day. But it’s good I’m understanding when I’m losing my focus and my nervous system starts to give up. Always the best time just to stop. What I finally did.
My biggest takeaway from today: trade your setups. There is no need to innovate a wheel. Even KHC could have been a great stock If only I took my entries, put my risk on, and just let it work.
Mental preservation is extremely important. I was in this KHC, lost money, lost focus — didn’t take other setups.
And still one of the most important things is so crucial to remain a proper attitude with all of your entries. Even 1 entry, not times properly can ruin the whole trade. Shoot only if you can kill.
Plan for tomorrow:
- Pick the right stocks
- Know your setups and Trade them. Low floats are the main watch for the open!
- Have the right attitude for each entry. Each entry requires a full evaluation of the potential trade
Do not forget about it. Your entry for a short is where longs are invalidated. I completely forgot about it when I was trading WTW ( short)
$FTNW +$10
$FTNW — nothing to say here. Was coming up with this premarket idea about trapped longs and etc. But the thing is, it has so low liquidity >spread. It was not even worth watching it. This is good I made some money, but doesn’t mean anything, to be honest. AVOID
$GEVO +$51
For this one need to rewatch the tape and add what I saw.
90% of my trades were profitable here. this 70s kept being resistance, I could have placed here half of my risk perhaps, just to be able to catch this move down.
- 3.15 was the premarket offer no one was hitting $3.05 was the bid. Right at the open spread was opening up, but nobody was hitting the offer only fills at the dark pools. When they finally start hitting the offer at 12s, it stepped up to 13s and stepped down to 10s almost immediately. On the tape, people took out 3.05 bidder (30K) and tape rejects right away to 3.00. > market order into 3.00 offer
- refreshed to 3.08 and immediately it came back to 3.04 and the same pattern — the seller is still there all the prints are on D’s 3.04 is not getting hit
- No one was hitting the offer, while I was trying to get filled on the offer — this is why I was not able to get an entry.
When they wicked me out. my signal to re-short was the drop of 10 cents + bids and offers were stepping down. Big bid shows up @3.02 = they took it with size, get back in! with size!
$KHC -$12
I didn’t lose control here, all this time I was trying to build the position and when it was working I was just covering whatever I was able to see. I completely overtraded this stock, used too much size in this setup, didn’t trade it the right way (short the pops), and lost the big-picture view. Sort of a fiasco of the day. All other stock where I had this mentality I shot — one kill worked out more or less fine, Even If I piked that’s the different story. I’m feeling wiped out after this one. Was it a good place for my screen time usage??? Absolutely no.
$HTBX -$6
No nothing. Should have been avoid.
$WTW +$6
Got some good entries here with a really small size. All the times I was losing I had 4x my small size.
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