Chapter #1 Trading journal #8 - 01/15/2019 -$115
What can I say, I got fucking impatient and chased PCG with sub-optimal entries.
Today’s rule — use 5/15 charts only for midday reversals to get short.
Lessons Learned:
- Follow your rule of 2 stops
- Be slow with your trading thesis — this is your business = your capital
- Follow the price action.
- Think about scenarios on the open before the open
$ABIL — First trade I got long here — completely wrong move.
- It’s just rejected from the highs ( yes short)
- Below 2 EMAs, VWAP, 200 MA (yes short)
- Volume = descending triangle (yes short)
The second trade was fine I shorted into weakness on the volume expansion.
$BIOC — No reasons to get long here, taking into consideration Y close.
Lesson Learned: if there is a past story, always keep it on the charts.
$VHC — Picking the top — Quite stupid.
For runners- all shorts only on 5/15 minutes charts.
$KTOV — Not exactly the setup I was looking for or at least was supposed to be looking for — HOD rejection. I should have shorted it into the break of 1.65 — otherwise, there was still this ascending pattern
It was making higher and higher lows
Was above 2 EMAs, on 15 was completely green
No reason at all to get short here.
So I broke my 2 stops rule here, while I should have just stayed away from the trading.
Also, it was not short after it did V bottom!
Resources
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