Chapter 2 Trading journal #118–06/27/2019 +$157

Daily report card (day 1/20)

1. Stock selection (A/B) I stuck to A stocks (day 1 in play), with B stocks I was always aware
2. Setups I traded l. Stuck to them. No experiments.
3. Entries Quality (A,B,C, M (a mistake if short HL or ascending bids) allowed me to have Mistake and C entries in MGI. It was day N, no hot news. I should have concentrated only on A entries. ATOS, mediocre entries, and too much risk
4. No HL or (ascending bids short, while stock still makes higher highs). Did not work out well in this department, was trying to nail MGI. And shorts have higher lows 3 times.
5. Exits on trend break + HL ok
6. Emotional State. was aware of myself, and avoided FOMO before or after the move. I was able to catch it with MGI and just let it go instead of putting more risk when the risk/reward was unfavorable. The key is to stay neutral and not allow other things or people to have an impact on it. Every day I come in and I have remembered not one thing. There is no need to get excited or whatever, I’m here to place the risk that I allocate for today. Neutrality = only one thought, how and where can I allocate my today’s risk? No excitement.

One thing I could have done better.

If my premarket thesis for the stocks I trade at the open is working, after I got the first drop, my next thought should be, thesis is working how can I triple up on the first bounce?

*2-step price action pattern. A) stock keeps putting HL, but couldn't make HH B) makes LL, and LH (time to get full size) — if A was in place

ACST +$123

B stock ( day 2) A entries

WKHS +$45

B stock — day n, more technical pattern A entries ( as close to level as possible)

JILL +$38

B stock, as not my niche A entries in relation to the levels I was risking off.

On the drop below VWAP should have covered more not only a quarter. Maybe 2 or 3/4 as for me this was a scalp in and out. Maybe everything would have been really ok. 10 cents move on 600 shares is better than what I got.

The intraday scalp of the tape. Was risking 0.5R

SEEL +$3

A stock, B, and C entries. Fucked up the trade here. Should have been IN right at the open, right after the wick and consolidation. Take a starter on top, add more on the way down, and more on the bounce

MGI -$1

Gave back all my profits.

After I got the first drop, my thinking should have been. I got a cushion, how can risk all of it plus a little bit more and get bigger on the first bounce?

This was a B stock ( no real news catalyst) so me being aggressive at the bottom of the range was not smart.

Also, I knew this stock loves to come back all the way up.

So missed an opportunity here.

CETX -$8

ATOS -$49

A stock. Day 1. But my entry sucked. Bids were holding, this was a fucking volatile stock, I should not have had more than 0,5 R at risk. A) the stop can not be tight, but no other alternative> higher chances to get stopped out B) the real entry was on the rejection, the one I watched but didn’t take

The second entry was just bullshit. It was no longer a spike, I could have just avoided losing an extra $

Read next: Chapter 2 Trading journal #119 -06/28/2019 -$159

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

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