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.

Screen Shot 2017-08-18 at 11.25.18 pm

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%

Screen Shot 2017-08-09 at 10.50.40 pm.png

 

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.

5 min scalp · Daily Report · Reversal 101

#22 Flat line

P&L:

Screen Shot 2017-08-04 at 11.03.22 pm

Trades : 2
Accuracy: 50%

 

In the green today. 2 mistakes. Second trade ‘OCLR’ the risk-reward wasn’t too great. Ideally I would not have taken it. Having taken it, I got out too early even though the chart did not really show any technical sign of weakness. I got scared out. Still learning this one.

 

Daily Report · Reversal 101 · Trading Psychology

Emotional Roller-coaster #21

Today I have never been more pissed at my trading screen than ever before. The below will explain.

 

Screen Shot 2017-08-03 at 10.09.26 pm.png

TTIM did exactly as I expected. I had my limit order in at 13.84 for 600 shares. Guess what the fuck happened! My fucking, fucking, fuckshit, dipshit, motherfuck cracker jack piece of wanker banker TRADING PLATFORM decides to fuck up. It tells me I got no buying power. I slam that god damn piece of cunt filled button again but the dam dipshit motha fucker decides to fail on my ass again. This time i contact my broker and 20 FUCKING MINUTES later they reply that there was a technical glitch and restricted my BP even though it shows the ‘right’ amount on the platform. I seriously felt like throwing a chair. The perfect set-up comes along and only god can explain why it had to not work at this time.

Breathe. Breathe. Breathe. I counted to 10 and vented my anger at my phone to a dear one. Poor lady had to absorb my wrath. Breathe. Breathe. Breathe.

Then I took this trade below: FTR

Screen Shot 2017-08-03 at 10.42.04 pm.png

No surprises there this one did not work out. The set up was perfect but the gods were not on my side. Lost 10 cents on this. Kept it tight because it started looking iffy and was not going as planned.

Trades: 1
Accuracy: 0%
P&L:

Screen Shot 2017-08-03 at 10.53.30 pm

 

Does not feel good today. Felt like hardwork and planning went down the gutter. To a new day tomorrow.