Chapter 2 Trading journal #73–04/24/2019 +$9
- Cover scalps on the frontside + no adds = could have made me more money
- Adds. I need to keep working on ranges and momentum. When momentum trade is done, next is a range trade. There is no point in holding and re-scaling when the momentum is done.
ATOS +$11
1st trade — scaling in against the top of the range. Got out the moment I realized it was holding ascending trendline
2nd trade — Short to the mean
In general very illiquid — didn’t feel like it was worth watching it outside of the trades I had
SNAP +$8
Tried a couple of shorts on the frontside — got out flat both times
The moment trend broke — I got in. Didn’t press hard since there was so much volume done below us. Didn’t expect such weak bounces and such a downside
TWTR +$7
Got a frontside short, but missed the MATA.
Partially this was because I was not sure how MATA will work on mid caps, since I’m not concentrating on them
MBRX -$7
- Was patient and got a top on the front side — Should have covered everything.
- Death candle -covered 3/4 into it. Didn’t expect it will make 4 legs higher. Should have scaled a) against the same stop I had before at $2.5. Ideally should have waited till the trendline breaks to add the other half of my size.
- At this point, I already got 2 panic candles. Already got 3 legs down. The right decision would have been to cover the last q on the double bottom and wait till the range forms, and the trend line breaks.
- Had only half of the size — was not getting fills on top of the candles. Didn’t want to chase.
- This V- Reversal, after the new low was made, is a no-no for a short + it caught up
In general, had the right idea on the trade, was scaling patiently, and did not expect 4 pullbacks up. Should have been more diligent with scales and left half of the size for the actual break of the trendline.
Also 2 panic candles, and 3 legs down — this is a time to wait till range forms.
The big picture was a key here.
DSS -$10
Had to scratch trade twice.
The first time it popped and the bids were holding for 5 minutes. Looked strong at this point, above MATA, above VWAP — had to get out.
The second time the volume died, the drop was not happening, although we had 1M volume done above us. Scratched it.
Read next: Chapter 2 Trading journal #74–04/25/2019 +$1
Read main Chapter 2. “Peter, you have to start putting green days on”
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