Chapter 2 Trading journal #56– 03/28/2019 +$80
Pissed off. Gave back 30%. Got greedy and used too much size. I have always be aware of the proper size to use. Until this is in place I won’t be able to go any further.
Things to work on:
- Use proper stops. Do not short the bottom of the range. Really interesting, why do I keep doing it? Am I desperate to be in the stock? Only A+ setups.
- So Low of the day ( is not a good setup, unless there is a lot of volume on the day = day 1 of catalyst.
- My entries really suck, many times I have the right ideas, but are not able to capitalize on them, due to the poor entries. The environment is a squeeze, so scale in and make sure the entry is good. ( it will give you a chance — believe me)
I want to have this day where I will make no mistakes. It’s just so elusive for me. I feel I’m getting closer to it, but I’m not there
CPRX -$16 This is a B setup. But I used size as it was A+
#1 It was ok to give it a try, but knowing that this is a B setup.
#2 This add was out of context completely. the only way to do this was after it broke 5 and retested from below
WBC -$7
Ok to trade. The proper risk was used here.
BIOC -$4
ok to try. B because day 2 + conference call
TENX +$15
need to rewatch the tape here
#1 Should have stayed away from the first entry
#2 Bottom entry as well. Should have stayed away.
#3 When it reclaimed over under ma THAT WAS the signal to get out.
CLWT +$17
AVEO +$19
#1 Should have covered on the second bottom at least one more 1/4 and leave 1/2 with a proper stop
CIFS +$25
SEEL +$29
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