Chapter 2 Trading journal #65–04/11/2019 +$13

What to work on:

• More scalping mentality if I see that bottom of the range is holding. Basically, a recycling mentality can be in place at the open if a stock is in a downtrend and into the close ( if late-day fader)
• Be way more diligent with the adds. That’s what screwed me today.
• Just to reiterate for myself I need to step back into this scalping mentality and take what the market gives me. Tomorrow let’s continue with $5 risk again. I need to make sure it’s in place.

I had 8 separate trades today. I think this number around it is sort of a good indicator for me to make sure I’m not getting carried away. Watching 2–1 stocks closely at a time. Trade 3, maybe 4 stocks max at this point. 8–10 Trades sounds about right.

GLC -$6

I knew this company peace of shit, It gave two good entries, and I got so mentally screwed just by watching the tape, that I didn’t take them

1. Entry right after the drop, when I saw that it broke the trendline and last range I should have either assumed a proper risk above 60s or at least take an entry in this tight MATA consolidation below both MAs
2. Entry was long. I saw that bids were holding and stepping up, so I thought maybe a push at least into the offering price. Nope.

$ATAI -$5

1. I did believe here that 3 was a key level and once it holds below it goes down. the biggest mistake here was that I didn’t cover right away when I saw that 20MA 1 min catches up and holds — so got slipped.

$TBLT +$10

1. Was looking for a drop so hit the bid right at the open — when I saw it reclaims and there is not enough selling pressure — hit out
2. Got out prematurely when I saw that 95 was going to lift and didn’t get back right away -
3. Afterward traded around the core and left it alone, since no liquidity

*Need to rewatch the morning tape.

FTFT +$14

1. Saw it was heavy on the tape — took a starter — got out the moment I saw it was holding range + still a frontside = no reason to have a position trade
2. Did a mistake here — didn’t notice that it’s not a wick anymore — it’s caught with 20Ma 1 min = no reason to take an entry here
3. Saw the range was holding in the 40s — wanted to get as closer as possible — got in and just got out when they were testing the level for the third time. get in on the 5 min candle break and here I should have scalped everything into the bottom of the range — but Instead, I covered only some and re-added even more.
4. The same exact range breach situation in 50s. Got out.
5. Finally, the trendline broke — couldn’t get above the 40s + big dump candle. I got in. Picked once, but then realized here I have to take a risk above 42 at least. held. Got drop. Re-added. and made the mistake of adding more right after LOD was broken and buy algo turned on.

Read next: Chapter 2 Trading journal #66–04/12/2091 TJ +$25

Read main Chapter 2. “Peter, you have to start putting green days on”

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