Chapter 2 Trading journal #49–03/19/2019 +$47, 125 Tickets, 8K volume “Bias should never exist in the trade”

Overview:

• Disappointing day for me. Was not very selective with the entries. This kind of trading is still not scalable, too many mistakes
• Do not add when MATA on 5 minute is invalidated and 1 minute MA caught up.
• I have to work better on recognizing the bigger picture ( say DERM). I was in the money all the time, but instead of taking it, I was adding. This is a big mistake. I should always have the proper read on the stock. Otherwise, it all leads to missed opportunities.
• I need to keep working on identifying setups that are working for me and sticking to them
• When there is a lot of selling — Do not buy ( CLRB, VXRT) These were stupid entries of mine today.

$DERM — $27 “Never allow any bias like offering or whatever interfere with the price action”

Mistake #1 — Got Biased and instead of trading it as a scalp vehicle, which could have been really green for me. I took multiple losses.

#2 Time to get out when it catches up with 1 min MA

#3 There was volume, this ascending triangle was trapping all the shorts — there was no need to re-add> if short scalp. If long hold to see how far it goes.

Once again throw bias out of the window.

CLRB $-18

#1 Should have used stop above the range instead of taking myself out

#2 DO NOT GET LONG WEAK STOCKS, unless there are massive bids (NIO)

ALT $0

A lot of chop. Relied too much on Bookmap and the offers in there. They got taken out, and the stock rejected finally.

ATOS +$7

#1 It was a mistake to re-add when it was a long on 1 minute

SRNE +$11

2 Mata setups here

VXRT +$22

Took MATA setup. Had a fine average. The stock was working for me. so I should have given it at least one try and add in the 80s

$TYHT +$52

Gave back 15% at the bottom. Should have been less aggressive.

Read next: Chapter 2 Trading journal #50–03/20/2019 +$75, 99 Tickets, 7.6K “Gave back too much.”

Resources

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