Chapter 2 Trading journal #86–05/13/2019 -$17

What to work on:

• The ideal scale in is on the bounces
• With range trades and levels reclaimed it is important to think about where the stock will go after it broke the bottom of the range and then reclaimed it. Right it will go on top of the range, where I will need to either get stopped out or get ready to stop out. That’s why if the level is broken and reclaimed I need to cover it right away and then wait for a new setup on top of the range.
• Keep watching stocks after a stop out or after my thesis was proven wrong, every day out of 5 exits — there are 2–3 entries for the new setups within the next 5–30 minutes.

SESN +$20

I was trying to add more risk in 21s. Should have been more aggressive.

DF +$18

Not my A setup, since it’s not a low float. Although the price action itself allowed getting 500 shares. Was holding to cover as low as possible.

$CLRB +$11

Got short against 46 level, and add more after it broke the wedge. Tried to re-add, but got out of everything when I saw the bids start to show up.

The second trade was against the same level — covered only a quarter and got out for the 3/4 when it reclaimed.

In general, I was not a fan of this stock. There was no overextension. It gave back 100%, and all the trades were in yesterday's range.

GENE +$9

I took the first entry when I sort of saw a double bottom on 1 minute — but I think the entry was not good enough.

on the backside, I should have had more risk. Was trying to scale in on the offer, but should have hit the bid.

$CTHR -$17

Was scaling in for a reversal. The last add was after I saw that 91 guy soaked the pop. So my risk was above 91. All over sudden stock comes back, and the spread opens up, from 88 to 94. Bids stepping up, and I’m trying to get out on the bid — not happening, when I saw the offer is going to flip higher — I hit the offer and it immediately stuffed me on the bid as well. Had to get out of the long. This was a technical mistake — I was not fast enough to cancel the order. Won’t allow it to happen again.

$OPTT -$58

1. I will go over my morning executions in Tradervue. Seems like when there is a wide range of stock — I tend to lose money. But need to actually do this overview.
2. Blue circle — got out of the half, and re-added back right away — I need to eliminate this type of action- the new uptrend was forming and there was no need to get back in right away.
   Also, it was a rule — Cover the front side short — on the front side.
3. Got short against 65 level and hit out when it almost ripped. Got long, but when I saw that 58s going — got short and stopped out. This square number 3 — is my worst trading of the day. I should have been more diligent here with my trading thesis.
4. Didn’t want the last red add ( Was hitting 55 and 54 — but that’s what Maxim gave me) Anyway, this 54 level was holding for 2 hours, and when I saw a break and reclaim — I should have gotten out proactively, instead of letting to come back to my average. I also knew this is a range trade at this point — I should have been more proactive here instead of holding for a breakdown

The whole last week — I kept losing money on a hot chick of the day. From now on, I will be twice more cautious with them.

Read next: Chapter 2 Trading journal #87–05/13/2019 -$17

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

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