Chapter 2 Trading journal #113–06/20/2019 +$130

5 min readNov 13, 2022

Today was the day when everything worked, and I fucked it up big time. Feeling like I took only 35% of what was on a table for me.

I was not happy about my entries for the past several days, so today, I was working on it and missed some entries I would have attacked three days before. On the bright side, I avoided FOMO entries today and knew exactly what I wanted to see prior to taking an entry. Think I need to keep working on having this mentality all the time. The main entries I was aiming for were on-top-of-the-range sort of anticipation entries after a move. ++

What to work on.

I need to keep concentrating on the entries. I also need to teach myself to factor in the market environment ( everything is squeezing vs falling), day of the time ( morning — more volatile, day — lesser volatile), abnormal volume ( is the volume is there to push manipulation), is it crowded/hot chick of the day. All these things are important to having good entries and right! stops.
What also worked for me today was taking starters against HOD and then scaling into a position
Keep staying away from B setups/stocks Not enough overextension, day 3 and etc. They are not worth being in, watching, or whatever.
Start the day by going through the last 3 days' notes.
VWAP + MATA watch for this setup in Momentum stocks.
Tape + Chart + Bias have to conform. Bias can not exist without conforming. If it is. It is very fucking wrong.

Trades:

MGI +$88

2 stop-outs on the way up — the only reason for such poor trading was FOMO — it will go without me. After the first stop, I knew the level was reclaimed on a daily, stock was making higher lows. I knew over/under the 90s on the table, allowing my bias to prevail.

do not have any bias for a trade, especially when it is not conforming to price action.

IDXG +$60

#1 Missed MATA setup

#2 Took Bounce setup

ROAN +$50

I did good that all my entries were against HOD — This is probably the best level to get in

#1 Short term trend was broken, still front side — it would have been good to cover 3/4

IGC +$10

Again frontside. Should have covered more. Was still holding full size basically from my entries.

GNCA 0

The same play as in SNNA. Didn’t get the read on it right away. Otherwise would have covered 100% at $40c. Basically, the play was miss pricing in relation to the offering price. Next time I will know how this works.

OPTT -$2

Not much to say here. I should not have been shaken out at least in the morning.

ABUS -$14

Disappointment. Got in frontside -entry and levels were really good enough to get stopped out, but don’t do the shit I did.

Didn’t take bounce play, although I was watching it. I need to teach myself to factor in the magnitude of the previous move if there were any pullbacks/ drops before. Should have been in this bounce.

EDSA -$28

#1 Should have gotten back in. Entry was not good here at the bottom of the range — that’s why I didn’t use the wider stop I should have.

I need to teach myself to factor in the time of the day = more volatile in the morning/open, lesser during the day. Also, regarding volume, does the stock have abnormal volume?

#2 That’s what I was thinking when going long. Does it have enough volume to squeeze people? Here I just thought ough it’s really micro float, it could squeeze.

DMAC -$35

I’d better chase the entry below the death line while the momentum was there.

#1 Trend is up, and I knew this pattern R1 LH — Resistance kept testing, lower highs are stepping higher and higher — the Resistance is being taken out.

#2 The only setup after it is to watch what stock does right after this technical breakout to see if there is a volume spike that takes it higher or it will fade back.

And the entry here is against to of the range. I was too late at this point.

Good setups I missed.

LWAY