Chapter 2 Trading journal #48–03/18/2019 +$53, 99 Tickets, 6.5K volume
Day overview:
Mistakes to work on:
- I have to completely eliminate fighting stocks, even if it is not a
- Use proper stops. I was addressing this mistake the whole day, but it still exists in my trading
- If stopped out or got out, but the setup is still valid — Get back in.
Positives:
I was sticking to my winners and was holding them as long as possible
Negatives:
While sticking to the winners is good, I did over-trade a bit, and had some entries at the unclear spots or almost into the close. I can feel inside me that it is getting easier and easier for me to wait for my setups, and I also feel that I can skip all the bullshit setups. I just need to push a little bit harder a control myself slightly more to finally be able completely to avoid useless entries. I need to think more about my stats and win ratio.
LPTX +$61
- Recognize when stock works for you
- Stick with it (HOLD)
- Get back in if shaken out ( missed the main move because of this mistake)
NIHD -$30
Failed to recognize the main subset here:
- SSR stock. If it didn’t drop first 2–3 minutes — it won’t — look for pops
- Too many tries with wrong stops (the third stop should have been 48) — took 3 losses.
- Allowed too much risk ( I didn’t expect to get slipped 7 cents) or that 50K offer will go in one print. But that’s because the timing of my entry was wrong — it didn’t drop at the open and was holding.
DERM +$8
- Waited, but didn’t use the right stop. Loss
- Got the move, but
- Didn’t get back on the rejection of $13 — missed $1.5 point.
- The stock was rejecting from 12. Get in — tried to add. Took it off when saw that offers are lifting — covered some — re-added and got the trade flat
- Failed to recognize long — My short exit was a perfect entry for the long. First, during the day 20 MA was holding the price from below. It was a very very clean setup.
DARE +$12
- Tested mids 4 times here, more than required.
- Should have been more diligent with my entries.
WP +$1
There was a MATA setup + tape was showing that offers are holding, but at this point, this is outside of my playbook. There is no way I can scale into these trades now. So I have to completely avoid them.
I already had almost the same trade last week. The stock was grinding all day long. It’s just not very smart to short it into the close, besides all other facts.
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