Chapter 2 Trading journal #51–03/21/2019 +$70, 74 Tickets, 7K volume
What to work on:
- Recognize when stock works for you. Stick to it, unless an exit signal or proven wrong.
$LEVI -$18
#1 Didn’t get the subset of the play here. There was no overhead supply> why hold, while it should have been just a scalp (Ideally, do not trade this at all)
#2 Failed to interpret the message after the first try. It told me “I can come back” Why again have the same thesis that it should go down? Was biased here. Though the offering price is at $17 and assumed we will go all the way down. At least try
#3 Failed to comprehend price action in a timely fashion. No book pressure, and no seller on the tape. Again, why Hold?
$SRNE 0 ( Got borrows, but never took an entry) — SSR setup never gave me fill at the price I wanted. Didn’t want to chase, since it was frontside
$SCON +$2
#1 One big mistake here. The moment stock starts working for you — do not let it trade without you. Recognize this moment and stick with it. Let stock prove you are wrong.
#2 first entry. I knew this was frontside. this was the bottom of the range. The only premise for this trade was it will drop right now. When it didn’t — should have just taken it off — no reason for a stop out. Or maybe never took this trade.
CFMS +$17
#1 the same mistake here. After all these headaches, when the stock finally works for you — Stick with it, unless proven wrong.
#2 Got chase mentality at the open. Recognized it and was able to get green on the stock. But still. Should have hit out when I saw then 1 m holds. I’ve tried though but Maxim slipped me 8 cents. I need to always be ready to hit GSOR
#3 emotional add after a stop out — without letting the stop work. The stop was 91 — I should have either not taken the entry — because I knew this — there is ALWAYS a second push after a squeeze like this or just should have held it
#4 Need to rewatch the tape, was trying to hit the bid at the open, but Maxim didn’t give me fills. I missed the perfect 30 cents move.
SOLO +$70
Again got fucked in the second half. Lost my attention that offers moved from 91 to 85 and they were taken out — so there was no reason to step in front of them at 88s without a confirmation that they are still there even on Bookmap.
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