Chapter 2 Trading journal #101–06/04/2019 +$116
Day overview:
I disappointed myself, could have traded way better. Gave back 20% of PnL + missed opportunities of being on the right side of a trade.
What to work on:
Reminder: If the stock doesn’t drop first 2 minutes — it will pop. No reason to short the range that’s holding.
Hold on with the longs. Unless that’s the setup like LK had. Otherwise, I’m trading better on the short side so far.
OESX +$36
OBLN +$29
Got into a mental hurdle here. Was trying to lighten up, but was not fast enough and had to get out of the full size. Lesson from it when thinking to lighten up — do it fast.
LGCY +$29
The stock didn’t drop. No point of losing money and getting short. This is my rule. If there is no drop first 1–2 minutes — the stock goes up in 99%.
When the stock started to move, it was time to wait for a setup, the tape edge was gone after the first 5 minutes. Again no reason to loose even more money.
Should have stayed with the stock also.
WKHS +$11
Ok trade, but no continuation.
PTI +$8
Got short of the offers. Not the best setup. But R/R was there.
Again should have held 1/4
$YRIV +$6
1- No setup here to get short. just FOMO to be in. Have and need to work on it.
2- Should have covered into washes, should have tried harder
3- Not sure if pressing harder in the last 15 minutes was a good idea. Perhaps the better idea was to cover everything
LK +$2
Really long mid-day consolidation- bids are holding and tests — this is not a short!!!!!! 5 Hours the trend line was holding!!!
CTRM -$9
40 minutes consolidation is not 6 hours consolidation. Should have been looking to the short side.
Read next: Chapter 2 Trading journal 102–06/05/2019 +$138
Read main Chapter 2 “Peter, you have to start putting green days on”
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