Chapter 1 Trading journal #14 - 01/24/2019 -$1

Day overview:

I exhausted myself with this f….g stock $SPI. what I waste of mental resources and $20. Fuck bankruptcy, fuck desisting, fuck chasing.

Anyway, Lessons Learned:

• More tape!
• Fuck all types of biases, whatever they might be. Volume and price action are my guides.
• For my morning setup — WAIT for a pop. That’s the only entry possible. Plan to scale in if it’s day 1 or day 2, it stocks strong premarket of weak
• For HOD rejection — know precisely, when to get in, and why.
• Short chart pushes only if there is no follow through + there is a rejection.

Trading Journal:

$CLDC

• Wait for a pop! Do not enter if there is no pop. Let it go. There will be more trades, waiting here is the only way to get it right. Need to spend more time with Stan’s tracking file.
• Saw how easily bids were getting whacked and rushed into it.

$SPI

• The greatest waste of the day ( specifically mentally )
• DO NOT CHASE
• DO NOT RELY ON FUNDAMENTAL IDEAS, UNLESS THEY COMPLEMENT YOUR TRADING

$VTVT

• 2 first trades were longs based on the tape — fine with me and good I took them
• But then I got completely shy and never shorted a fucking pop on the volume.

The way of thinking should have been:

• ok, these are random volume pushes, unless the volume is constant I need to get short on top of these pops. Also, full size was completely unrequired on my first premature shorts.
• Really hard stock to trade, to be honest

$BOXL

Was half size in the beginning — should have re-shorted with full the moment I spot volume divergence + Rejection.

$TBLT

• Got the flush with no follow through
• Should have just gotten right away on the reclaim and lack of participation.

$PCG Really proud of how I traded this. got 6 out of 7 right. Really enjoyed following the tape on this one.

Was especially remarkable to watch levels that were holding, soaking and how volatility expanded out of these levels.

Read next: Chapter 1 Trading journal #15–01/25/2019 -$96 Hit it when you can kill. This is the only way.

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