Chapter 2 Trading journal #44–03/12/2019 -$47 80 tickets, 6K volume. Anticipation vs Confirmation

What Did I learn today? My biggest problem was and is my emotions and patience. Even slight desire in regards to being in the stock. I have to teach myself to be absolutely zen in regard to taking entries.

Question for me for tomorrow:

Can You Trade Only The Best Ideas?

I have to stop taking entries in anticipation of the move.

$TNXP -$56

#1 Out of my playbook at this point. SSR setup.

#2 The same mistake I did many times. TOO many orders.

#3 GTFO if mistake. Do not hold. GTFO if hurt.

$AKBA -$16

The same mistake here. Too early. Anticipated in lieu of waiting for a confirmation.

$MOMO -$6

Wrong stop — Again I was anticipating the trade and didn’t want to take a risk on ( the risk I was supposed to take — above 36.90)

$SEEL — $1

FOMOed and then chickened out to add on top of the range — while it was holding.

$VVPR +$7

Somehow I have to decrease the number of trades I take.

On the last trade — the stock just made a double bottom, and didn’t make a new low — so the choices were either to get out for B/E or cover everything at this double bottom.

AXGT +$11

ok. Long.

LPCN +$12

Missed many entries here. 50% I was not getting any fills. 50% for some reason I didn’t like how it’s traded. All the time it felt like the order flow was broken somehow.

*Tape

• couldn’t hold 50. The bid got taken out really aggressively. 43K bock print on D. What I will do now when I see on the open a drop like this, I will be looking for a confirmation on big prints. If it’s there — I’m short too! Here it was a clear level 56.
• The bid was beyond and above- but offers were holding quite solid
• Selling on D continues — 16K block print
• It was not the best idea to add 200% of the size right after the double bottom
• Ok. It made a new low. but only by 2 cents! and not much selling on the tape + 30s were rejecting and now you see that they are gonna get taken out on the third minute of try = GTFO as soon as 30 s are gone!
• 29 to 31 = offers flipped up so easily. It is not a time for an add. It is time for GTFO!

Read next: Chapter 2 Trading journal #45–03/13/2019 TJ +$72,73 tickets, 5K volume

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