Chapter 2 Trading journal #105–06/10/2019 +$9

What to work on:

1. Avoid not my setups/ thin stocks. Take stocks off the watch list. There is no point in even watching them. This is not worth it.
2. Do not short after VWAP over/under the trap. Never.
3. Watch less, but stick with the stocks.
4. Today I was up 5 R and could have been up 8R if made no mistakes. My main goal is to size up and take more risk, but by taking unnecessary setups I won’t get there. The number 1 goal I should be concentrating on is being only in A+ setups where I have an edge. If I can do this and have consistently 4–6 R making I will be able To add more risk. Do not push, when it’s not there.
5. Read reminders prior to the open. And checklist right before the open.
6. Main mistakes: do not confuse momentum and range trades. Over/under and levels held (r or s) means a lot for momentum and frontside entry, for range trades the right level to be short against means way more, over/under just creates the low high for an entry. (Review paper charts)
7. And the main thing: just wait till you see the setup. That’s the only thing you really need to do. Not anticipate, not stare at the tape, just wait and that’s it.

NBY +$47

TEUM +$34

Got chopped in this zone, but HOD was not broken. Should have just left it alone. Or just get short and hold.

INSY +$12

Didn’t want to give it much room since the bid was soaking like crazy and I expected a huge squeeze

VUZI 0

NURO 0 No entry

SESN -$3

UXIN -$12 Problem #1 This was not my setup. Why the Fuck I was in this stock????

WKHS -$29 Big Mistake. Do Not Short Right After the TRAP

LJPC -$39

Very stupid actions from my side here.

The risk should have been wider and I knew it.

VWAP would have been ok as a stop.

Tried a long here too, thinking it will squeeze.

And the biggest thing, my plan is to avoid the thin stock for now. So why I’m doing the same stuff I did on Friday and losing money? Tomorrow will be writing down the names of the setups just to double-check myself.

Read next: Chapter 2 Trading journal #106–06/11/2019 +$97

Read main Chapter 2 “Peter, you have to start putting green days on”

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