Chapter 2 Trading journal #73–04/24/2019 +$9

1. Cover scalps on the frontside + no adds = could have made me more money
2. 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

1. Was patient and got a top on the front side — Should have covered everything.
2. 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.
3. 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.
4. Had only half of the size — was not getting fills on top of the candles. Didn’t want to chase.
5. 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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