Daily Report · Reversal 101

#39 – Quick dip-buy scalp attempt

Trades: 1
P&L: 100%

Screen Shot 2017-10-05 at 10.45.03 pmScreen Shot 2017-10-05 at 10.44.52 pm

Tried to do a quick scalp on a dip buy. 5 min chart was showing 6-7 red candles and I figured it was push up a little. It did, but way too little! So got out quick here – 400 shares and took two exits in half pieces.

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5 min scalp · Daily Report · Reversal 101

#34 – Boredom trades

Trades: 2
Accuracy: 0%

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Sooooo painful today! I took two trades even though I saw nothing with potential pre-market. Boredom trades that cost me. I vow never to take stupid trades again. These were NOT set-ups I had been studying. OMG….. I have to stop this. I will. Lucky I am back to square one here. Also in the interest of increasing transparency I am going to start posting my account balance daily.

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This way there is full transparency.

5 min scalp · Reversal 101

#31 – Long time no see

Trades: 2
Accuracy: 100%

P&L:

Screen Shot 2017-08-28 at 11.09.16 pm

Am I proud about today? Not really but on BLCM, I got shaken out on a grindr stock. No the stock ain’t gay. I thought it was a runner. My bad but did not take a loss.

 

Screen Shot 2017-08-28 at 11.10.54 pm

Tried to play the reversal on SFM here but got stuck in consolidation. I decided to bail as it tested the upper limits of the channel.

 

Bah! Cyaaaaa!

Daily Report · Reversal 101 · Stupid Chase

30 and O.

Trades: 1
Accuracy: 0%

P&L:

Screen Shot 2017-08-22 at 10.34.29 pm.png

One and a half months later, my stupidity still continues. I wanted it too bad today and the work chase clearly has not gone out of the dictionary. A real slap in the face. The account continues to bleed and I hit my max loss of the day. In about no time I would have lose all my money. The last third has begun.

Good luck to myself.

Daily Report · Reversal 101

#29 A tough pill to swallow

Trades: 2
Accuracy: 0%

P&L

Screen Shot 2017-08-21 at 11.04.35 pm

Sometimes it feels like the plays you choose are the only ones that do not work.
Do not feel like talking about it today. Nights

Reversal 101 · Weekly Recap

Weekly Recap! #5

Lessons!

The last two days of trading I have learnt a lot by just looking at the market. I was so happy for that. I kept my phone away, kept my mind fresh and just stared at moving stocks to learn what the market could teach me. There are some moments where you feel like you’re moving forward and progressing and these two days were definitely one of them.

  1. On the PETs reversal below, I missed my entry because this sucker had a bit of a spread so my limit order was a little too low. Bummed out a bit but did not chase and started getting a little more confidence in my reversal set-ups.

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2. I am certainly getting more and more confident with reversal trades and decided to invest more time this weekend in creating new tracking sheet and looking more at how I can trade these suckers more efficiently.

3. For the 5 min scalp set-up, I learnt two new things:

a) If the move before the set-up was not strong enough or had not enough range, the 5 min scalp is just not worth it.

b) There are two types of stocks that can create these 5 mins plays, runners and grinders. Grinders are usually higher float with more shares trades per day and runners vice versa. They are both different to play. One definitely falls more quickly that the other and one respects trends better than the other.

4. For the longest time I have been YouTube-ing interviews with other trades and today I learnt some stuff from Airplane Jane. I got to give a shout out to her as she did give me more insight and more ideas on how I can improve my trading.

Great stuff this week! Let’s hope for a better one next week!

Daily Report · Reversal 101

#24 – Finally a reversal to learn about

Trades: 3
Accuracy: 33%

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INAP – This was terrible! I accidentally slammed my order twice getting me twice the size. Also I chased it as I had actually missed my target entry by a few. Lastly on hindsight range was too low. Was a bit mad at this one

SGRY – Wohooooo! Classic and perfect reversal. Only small regret is getting out a little below target because I wanted to snag me profits quickly. Gotta have more confidence in my strategy

FGEN – This one had great risk-reward, but just did not work out. Gotta shrug my shoulders on this. Win some lose some. Though I have the say the daily chart looked weird for a reversal. Still learning every day. Had me exit right on time. (See below)

Screen Shot 2017-08-09 at 10.50.31 pm.png

Plan tomorrow: Do the same as today except watch range and stay away for the time being on FGEN type charts. I will have to wait and see if reversals work on ‘FGENs’ before trading more of em again.

I’m semi content today. Let’s hope and wait for more tomorrow.