Chapter 2 Trading journal #42–03/08/2019 -$83 Watched wrong stocks and took entries at the wrong time in the right stocks.

Morning talk.

Today is a new day. It is important to remember that there is no rush in getting in. It is extremely important to have a proper attitude. Opportunities will present themself. One good Trade. One good Trade. One good Trade. There is no reason for your heart to beat so hard, it is better to stay away if you don’t have a clear mind. Today’s main goal is to be selective, use proper size, and use proper size.

Once again do not rush into the trade, unless you see it for yourself — the setup.

• The further it goes — the lesser size I use
• Slow down. be more selective. wait for your entries. Re-evaluate.
• Do not react and stay emotionless. You have to feel this flow inside you. and it’s can be done only when you are calm.
• Stick with your winners.

Day review

1. Open the SMB list only if there is nothing in low float land. Do not even take a look at it. Trade low floats while they give an opportunity since I’m yet to learn midcaps and big caps setup
2. For MATA on midcaps, it’s important to make sure that this is not a market play and stocks are on the move by themselves.
3. With spread stock — assume more risk and take less size.
4. Do not trade stocks if there is no action on the tape. there is nothing to gauge here.

In general, it’s hard to say what I’m feeling about this day. I was not fighting anything. I just was never right on the direction. For my trading is crucial to not get locked out prior to 11:30. Usually it happens to me earlier. This week got under my skin, and this loss on Tuesday literally caught me off guard. Afterward, it sort of spiraled down. On Wednesday my I got myself back in from lockout but failed to close break even, although I could have. Thursday — plenty of opportunities — had a really good read on almost all the stocks I traded. Today… Because I made this mistake and half of my attention was too mid caps — I just didn’t get enough attention span and never felt in sync with whatever I was trading. I was not rushing in the trades, it’s just that something was off — I should have just waited for the right setup and right understanding. I need to slow down even more and take action only when I’m super confident.

I should turn it around next week. fight for every entry and for every stock. At this point, I knew so much more than I was 2 months ago. It is a time to become a cold-blooded killer lol, especially with the tiny tiny size I trade. I will risk $10 on morning setups. and will risk $5–7 on all other setups. It is not about money. It is about consistency.

*Learned new pattern today and yesterday the same

big bids one below another are continually being taken out on the way down. ( Basically the same is happening with the offers on the way up, but it looks different though)

$TROV — $6

Bids holding, everything is ripping. At this point buying breakout — could have been a way better strategy. Didn’t watch it from the open and was not able to make the right decision. So stupid.

$GTXI -$22 “Just do not trade stocks where there is no action”

I believe at least 40% of my losses are coming from trading stocks where there is no immediate action. I think I have to stop trading them.

1. Got long — sold some into push + stop for breakeven
2. Short and long — stopped on both sides.

Again I just did not have enough screen time with the stock — and was not able to pick the right stop,

TNXP -$33

The same here — never built a connection with stock > was too late for better entries before — was too early afterward.

$MRVL +$2 “No midcaps stocks are allowed, while there is life in low floats”

Shorted bottom here. I’m so tired of myself even typing it. I’m doing this shit lesser and lesser, but it still happens. I will be reviewing all my looser for the past 3 weeks this weekend. It’s been due already.

Got my MATA — Got my long. But was it worth over good trading in low floats? Absolutely not.

Read next: Chapter 2 Trading journal #43–03/11/2019 +$48 104 tickets, 8K volume

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