Bottom Bounce · Daily Report

#47 – Pure stupidity

Trades: 1
Accuracy: 0%

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I really feel terribly stupid and mad at myself. It so sad that I keep making the errors I tell myself not to. I cannot understand why.

Really nothing to say here. I traded pre-market without waiting for trend to form

 

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Epiphany

I just had a bit of an Epiphany while in the shower. Cliche? Yeah maybe but suck it up. I am simply not going to play set-ups that I have not tracked anymore.

That sounds simple and easy but somewhere somehow after dropping the whole momo stuff I started off with in the beginning, I got back to trading on a whiff. Going to start a fresh excel sheet and find a way to capitalise on the gap-ups. There is opportunity but I need to find a set-up that shows consistency. However long that takes, I am not going to make a single trade until that happens.

Cheers, I hope this would then give me some more opp other than the rare bottom bounces that I feel I am getting a little hang off.

Hurray! There goes my Sunday 😉

Daily Report · Dip up · Others

#46 – In a rut

Trades: 1
Executions: 2
Accuracy: 0%

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So today I tried this dip-up strategy again I was kind of eyeing. I cannot deny that I am in a bit of a trading rut. In the last 10 trades I have had 20% accuracy, which is pretty disgusting.

However, there were a couple of things I did correctly today. I put orders at target entry points and waited for the stock to hit there. It felt way more controlled and calming and I think I will employ this for my bottom bounce strategy if it comes by. Secondly, I also managed my loss super well because I was in with manageable size. When the stock washed hard I waited for a bounce as you can see in the second trade. They were both the same strategy and hence I put it as the same trade. I figured by timing was off on the first try.

Either ways, I need to commit myself to taking only set-ups I have tracked. This one felt like something I saw worked 2-4 times and assumed it was the norm. I really got to stop doing that though.

On the other side of things, ever since I got back I realised I have lost about USD $280 but only USD $30 before commissions. This speaks volumes. MY accuracy has not been up to standard but it does show that my winners are quite strong and an average win is significantly more than a loss. Now I just to work on making em more consistent.

Bottom Bounce · Daily Report

#45 – Inch by inch

Trades: 1
Accuracy 0%

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Today was super interesting. I told myself I need to start playing these set-ups more. I tried playing the first pullback because I missed my entry around 9.2. I have seen many of these break their morning high after the first pull. Entry was great and size was great. It just did not work. I am a little mad about my exit though. It seemed a little too rushed and my support had only broken by a tick even though I planned for 3.

This thing looks like its about to indeed do that break above HOD but who knows. I don’t wanna play something I am not comfortable in anymore. As I said over the weekend its ok to miss set ups. I need to see more pullbacks and slowly master them. For now, I’ll wait until tomorrow.

Trading Psychology · Weekly Recap

Weekly Recap #5

It has been a while since I did one of these but this week I traded on all 5 days. It is rare for me to do so but it does depict my growing passion and addiction to the art. Still being relatively new (based on hours spent studying and in the markets), I made a ton of mistakes. I also made some significant strides but today I would like to just pen down my three biggest takeaways:

  1. Have confidence in your strategy. Many times this week I got scared out of positions quick only to be proven later that the stock did exactly as I expected and according to the pattern that I had studied or analysed.
  2. It is okay to miss set-ups. I found myself chasing things a couple of times even when my target entry point was missed or even worse, was not hit yet. I realised, the markets will constantly provide opportunity and its ok to miss some sometimes. That ticker you been analysing for 2 hours before the market opens just may react quicker than expected or hit a support much later than expected. Its okay if it goes down as a miss!
  3. Trade the chart, not your emotions. This ties in well with the above two. Be patient and wait for you entry. Once entered follow chart patterns to take profit or cut losses. Do not follow what you feel may be the best thing to do at that time. Take guidance from the chart

 

 

Bottom Bounce · Daily Report

#44 – Poor Trading

Trades: 2
Accuracy: 50%

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Yesterday’s finesse was overshadowed by today’s complete failure in strategy. I sold into support instead of doubling up my position. I got scared out – as simple as that. I forgot that trading the pattern and the chart is key. I know this pattern. It was doing exactly what it is supposed to do but yet I messed it up. A kick in the balls. The second time I got in, I did the exact same thing, this time with a super small win though. Sold it on the pullback, again forgetting the big picture. Fool me once, shame on you. Fool me twice, shame on me.

Also what I did learn was to maybe not trade these stocks which was such small range. It really is no point unless I am smacking support or going in with much bigger size.

Monday here I come! It’s a grind. It really is just a proper proper grind.

 

 

Bottom Bounce · Daily Report

#43 – Content

Trades: 2
Accuracy: 50%

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I’m all smiles today. Many would look at this and wonder how I could be happy with such a small gain. Well I did many things right and my loss today was justified. Things just did not work.

What went well:

  1. ACRX was a good trade and I was patient on my exits. Was looking for it to go higher but as soon as it broke a support I got out
  2. PTGX was a good bottom bounce trade as well. I did not panic out as it washed on me in the morning. Saw a nice ascending wedge set-up forming but the moment that failed I said it was time to get out. Small loss and took small size due to volatility. I am proud of how I handled this one.

 

It has been a tough week. I am not trading tomorrow but I certainly look forward to Monday.