Bottom Bounce · Daily Report · Fade · Profit & Loss · Trade Setups

Daily Recap #6 – Once Bitten, unfortunately not twice shy

Screen Shot 2017-06-26 at 11.27.02 pm

Accuracy – 0%
Trades – 2

Ok so today I tried to play the strategy I had been recording over the weekend. I need to learn more about it and look for the right entry points. Stopped out correctly when I had to.

The second time I traded it I saw a fade set-up building up. My mistake was I did not get out even though the chart pattern was showing that it was grinding up and making news highs.

I will live another day.

Daily Report · Fade · Profit & Loss · Strategy · Techincal · Trade Setups

Daily Recap #4

Accuracy: 50%
Tickers Traded: 4

P&L:

Screen Shot 2017-06-22 at 1.28.55 pm

 

CELG – This cracker was running high and flying in the day. Could not find an entry point on the 5 min so I avoided until the first pullback. That didn’t work so got out quick

RUN – Multi-day breakout trade, got stopped out though

FL – Dumbest trade ever. Read my charts wrongly. Got out like 3 seconds after entry but got screwed. Shit happens! Just have to deal, learn and move forward.

ADBE – Shorted this one as a fade setup. Caught it near the 20 EMA on the 5 minute. I promised myself to only short at resistance. This was a good trade no doubt. Wish I could have taken slightly larger size but price was way up there.

Conclusion:

I am up on the day but down after commissions. Going to keep up the grind. Momentum on the other hand was shit on small caps today and this month.

Also side note:

I am only going to tag the best set-up or the ‘loudest’ set-up of the day from now on. Today we got that ADBE fade going onnnnn.

Daily Report · Fade · Profit & Loss · Strategy · Techincal · Trade Setups

Daily Recap #3

Accuracy 0%
Tickers Traded = 3

P&L

Screen Shot 2017-06-20 at 10.46.02 pm

Boom! Today was a terrible day. Am I surprised? Not really, but it is disappointing nevertheless. I lost all my gains plus some. (if you include comms)

So things I did wrong?

  1. I used the 1 min chart to time my short on KMX. Stick to 5 min chart patterns!! This resulted in me thinking I shorted at resistance.
  2. On all the my short trades, the daily chart did not look that great for a play. Just meh
  3. I traded sub A quality set ups! Always stick to the best set-ups.
  4. I traded over my max loss. It is always ok to step back and throw in the towel early if things are not working out

Things I did right?

  1. For the most part, within individual trades I respected my stops and my profit targets. I did not cash in too early or stop out because of fear. Today this did not work out for me but I think this is the right approach.

 

Lessons Learnt! – Timing is everything! As you can see below, the KMX trade eventually worked out as it reached low of day.

Screen Shot 2017-06-20 at 10.58.31 pm

 

To the next trade soon! Have a good one guys. Oh yes I will be back.