Daily Report · Momentum · Pre-market Break/HOD Break

Disappointing #10

Its my 10th day trading and nothing has improved. Today I traded 1 ticker 3 times and was red all 3.

Accuracy: 0%
P&L

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What was really disappointing was that I have been on a crazy losing streak, completely unlike when I was paper trading. Yeah its no comparison but still. I am a little discouraged but far far far far far away from giving up. I set myself a goal and I’m not running away.

To put salt on the wound. MLSD, did exactly as I had planned with a big potential win. I could not get into the trade unfortunately. Why? I hit my MAX LOSS! So the max loss is inclusive of commissions. Can’t really complain. Do not overtrade was part of my mantra last week. Gotta keep to what keeps you alive.

Things I changed today:

  1. Further simplified my scans. The more cluttered the more confusing.
  2. Removed the realized gains/losses column on my platform to ensure i do not trade the money but trade the ticker according to chart patterns

Tomorrow:

Review my watchlist to see if my plans for technical trades worked or not.

I can’t lie. I am a little down today. Cya tomorrow!

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5 min scalp · Daily Report · Momentum

Daily Recap #8

Accuracy: 40%
Trades: 5. Traded OSUR and SPEX twice

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AMCN – Was another one of my dumb entries. Jumped in, thought about it, realised it was a terrible plan and then jumped out. Today I will try to avoid that.

OSUR – First trade, did not go right so i stepped out. Second short attempt into high daily resistance with volume. Stock start basing, grinding up and breaking out so I cut my loses. Need to study this set-up more.

SPEX –  Happy with this trade. Pure momentum play with a 5 min scalp. This is slowly becoming my favourite set-up. I am seeing momentum in the markets again and lets hope it lasts. It was also the first time I took bigger size. Tried to buy the pullback. Took minimal profits on the second trade as the push seemed to be lacking. Overall thumbs up on this sucker.

Plan for tomorrow:

  1. DO NOT MAKE A STUPID TRADE!
  2. BE PATIENT AND WAIT FOR THE BEST SET-UPs.
  3. START THINKING OF A COMMISSIONS STRATEGY

 

The journey keeps happening. Btw commissions sucked me dry today and I got to think of a way to minimise this.

5 min pullback · Daily Report · Momentum · Profit & Loss

Daily Recap

Trades = 3
Accuracy = 100%
P&L

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SGEN – Was a high priced high ATR stock. Got in @60.80 and out @61.79. Hit my target and managed risk well. I kept size small at a 100 shares

ZN – This thing was on a run in the morning. Did not chase and I am happy about that. DO NOT CHASE. Wait for a setup. I tried to trade the pullback twice and bought at VWAP support. Traded this thing like 6 times on two separate trades. Stopped out when support broke. Good risk management on this trade.

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Having said that, this beauty right here had an awesome entry round about 2.75 after the 5 min micro-pullback. Missed my entry here and was trading outside the Bollingers so I was a bit cautious.

Have a good one folks and see you next time.

 

 

Daily Report · Momentum · Profit & Loss · Strategy

First Live Trade!

Alright, this is my first Live Trade. Honestly, when I hit that buy button, I was crapping in my pants. A rush of emotions at the very least. It was a multi-day breakout of a stock that had been running up a few days earlier with a few days in-between of consolidation.

  • In @1.94 and scaled out up to 2.24.
  • Net P&L 122 after commissions.

Solid trade and happy finishing green on Day 1.

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Nights folks. Yes I am done today. I want to ease into this process.