Chapter 2 Trading journal #111–06/18/2019 -$109

Rules for tomorrow:

1. No longs
2. Each entry should be favorable to the level I risk-off ( can not be in the bottom of the range — just miss it, that’s it)

What to work on: (print it out) and write.

1. Wait (Do Not Keep Looking and Searching) > Wait till you See > Think how to place risk
2. Is it my niche stock? Bio, gap up, short?
3. Name the setup in writing ( Tape, front 3, range level)
4. Go over to see where the trend of HH and HL got ended
5. Draw Momentum and Range levels before an entry (Mandatory)
6. Draw Trend lines (Mandatory)
7. Draw where were the previous “right” entries. (Mandatory)
8. Make sure R/R is in place. R/R should be favorable for the range I’m taking it (Mandatory) write down where in the range (top, middle, bottom — is only for hot momentum setups and even so not preferable )
9. Write down, the time, and risk on, and level
10. Stop adding/ shorting after higher lows were established > Trading of OHLC chart tomorrow to see a clearer picture.
11. No Bottom of range shorts. When there is a range trade, there is no point even watching tape unless the…