RGSE
Phew.. Wanted to buy the b/o of pre-market high but it was so close to 6 so wanted to buy it at 6.01.. I didn't get my fill and I let it be. This had alrdy broke out last night so I knew this was going to be a very quick trade and since it was alrdy at 6.40ish, I didn't chase.. Thankfully, I didn't.. Kind of like how AKAO did in december, it whipsawed HARD..
Ross also only got 200 shares filled at 6. He admitted getting FOMO and was irritated he didn't get a minor fill so he stacked 7500ish at 6.50.. 2mins later it dropped and he got stopped out at 5.75. Nasty, this is eerily similar to my AKAO loss where I felt FOMO and just chased hard into a whipsaw. Seeing even Ross get hit hard, 5.5k loss in 2mins.. makes this course all the well worth it if it can get finally get me to change to stop chasing. If I miss the entry I wanted, I'll let the stock go..
DRYS
Called out in our FB chat my entry on DRYS before the market open b/o 3.8. After missing RGSE and just watching Ross take that nasty loss, I jst decided to sit back and watch. Called it a day and took a shower when DRYS failed to b/o 3.8. Looking back.. the 30m chart was downtrending while everything else was uptrending.. As soon as the 30min chart aligned upwards along with all other timeframes--broke out of 3.8 and touched 5. I've seen this happen before but I still need a larger sample size before I use money on this strategy/phenomena..
Tuesday, January 31, 2017
Thursday, January 26, 2017
REVENGE TRADING and TRADING UNPROVEN SETUPS, PULM
I took a break from trading due to the huge disappointment I had on TBIO. In addition, work has me crazy, stressed, and sleep-deprived as well so to preserve capital, I've chosen to pause from trading until I've regained my composure.
** Reviewing what happened from Jan 11-13 **
I was having an awesome 3weeks of trading since I had the epiphany about being able to see trends on a multi-timeframe but I was having a rough week at work that sun-wed and went through an emotional rollercoaster. With my new schedule, i'd only realistically have thur/fri now to trade without being sleep-deprived. Wednesday morning after a rough shift and been awake 10 hrs alrdy, i got prepared for the market day knowing to be careful since I was so sleepy and would not be at peak performance.
Jan 11 - Wednesday
ETRM, I knew was a very high risk position that I held overnight. Half-position size but I knew well that I might lose more than I'd like if I had to bail out Pre-Market. By the time pre-market opened, I knew that it was damage control time.. Blew past my stop loss but was able to fill on a bounce. Lost more than i'd like but was able to control the damage.
BIOC, Small position pre-market, opened good, added to my position then locked half my shares in for 284$ profit.. Doubled up on a pullback and watched it fly to the heavens-- I was up $1,200 at one point but failed to lock in any of my shares while it was at the top due to m'fckin GREED wanting it to hit 1.5k-2k. It whipsawed ALOT and lost a majority of the gains within a few minutes--Locked in another half for 178.96$. Overall, I became stubborn for 6-10mins and didn't close out my last 1000 when it dropped to 1.6ish losing 219.8$ with another 80$ lost to commissions. Horrible trade but made a few hundred. I exceeded my day trades though and got my account frozen for 90 days.. FML...
I also, tried to trade a position on E-trade when it was spiking which i got stopped out on because i was too slow in getting my orders in the web platform, I was unable to lock in profits and got stopped out for a small 50$ loss+20$ commissions.
At this point, I walked away like I normally do and I was breakeven I think on the day even with the big ETRM loss. But I was just so mad about what was going on with work and trading was where I felt at home so I opened up my etrade accnt and tried to trade--which of course was a big nono since I was so heated up from work and that GREED got to me. As a result of Revenge trading, I ended up the day red 300$ and got that account frozen for 90 days as well. FML right ?? Both accounts frozen... This is the best day of the year...
-------------------------------------------
Jan 13 - Fri
TBIO. I was able to request and unlock my accounts and get 2$ commissions lower in my TD accnt due to being military. I don't remember what I was doing but I just knew I didn't have any go-to-setups in the AM.. There were reversals that I had been studying but My rule was to paper trade unproven setups.. Fast-forwarding--> 3 Trades later --> TBIO Worst day...
Mistake #1: I traded against the trend
Mistake #2: Should've paper traded this reversal play since this was not a go-to-setup yet.
Mistake #3: Preserve your capital... I lost 600$ just to try out reversal trading... FML...
My first red week -$1000.. I told myself I'll be taking a break from trading to cool off and really take the time to assess and work out why I did what I did.
I ended up getting into the Warrior Trading Pro Course that Sunday during a webinar that they had due to a nice rebate program for their course. I was split on finally being a Sykes Challenge student or the WTPro Course and I think I can learn more from Ross than Sykes currently but looking back now, I think I can learn a ton from the discussions that the millionaire students have with each other inside the challenge. I might go into the challenge again at a later point but not anywhere in the immediate timeframe.
Never trade an unproven strategy.... TBIO......
Zombie Experiment traded the shit out of it.... sigh.. FML...
2 weeks of steady discipline wiped out in 2 days. I thought the revenge trade on that wednesday was bad, but after how friday ended--my zombie trading still reigns supreme as the cause of my largest losses with revenge trading my 2nd largest.
MY MISTAKES AREN'T MISTAKES UNLESS I FAIL TO LEARN FROM THEM !!!
**** Gamblers think about profits, Traders think about Risk ****
Shifting my attitude/mindset from making money and towards:
1) Risk Management
- Know risk prior to trade
- Know stop loss prior to trade
- Size position accordingly to the stop loss and the quality of the setup
2) Managing Emotions
- No more zombie trading (Trading low-quality setups)
- No more revenge trading
Mandatory Weekly Goals....
A) Zero (0) Zombie trades
B) Zero (0) Revenge trades
C) Trade only quality/Go-To-Setups.. (Think retired trader)
New Rule: If I have either 1 zombie trade or 1 revenge trade during February, I will sit out from trading for a mandatory 1 week cooling off. This will be a negative incentive that will turn me off from making those type of trades since almost all my motivation and raison d'être currently is daytrading.
----------------------------------------------------------------------------------
So here I am now, 2 weeks later. I'm pretty scared of going back into the market, albeit with a much, much bigger account that I'll be opening with Speed Trader. I did paper trade GLBS last friday with a good solid result to boost my confidence a little bit.
"Don't be afraid of losses. A loss can be a good thing. Don't shy away from them, don't be embarrassed by them." - T. Sykes.
Overall, I've pulled myself out of the red from december and have been profitable since. I just really need to focus on being disciplined.
PULM
I didn't trade Thursday AM since I was so sleepy but I did take a peek into thur PM for an o/n play. It had a nice F3/ABCD pattern-ish except for two things that I didn't like:
1) It had consistent lower lows in the afternoon.
2) Although it kept most of it's AM gainst, it was 40cents off it's highs.
I thought about buying it, but I went against it since I still wasn't in the mood to trade.
Been awake since I woke up at noon, and stayed up studying all night catching up on Sykes Vid lessons as well as being severely behind my WT Pro lessons--I didn't feel like trading since I'd roughly be awake for 20hrs when the market opens. I opted to go to sleep instead..
My buddy Greg called out AUPH, CRK, and PULM in our FB Chat while I was out snoring away. Now, I'm still catching up on lessons at this cafe in St. Louis and I finally took a peek on how the market did today. Great fckin' CALLS since all 3 ended up with nice spikes. So smexy... PULM was my main stock on my Watchlist too..
Normally, I'd be soo pissed about missing out on it... But by taking that 2 weeks off, I missed a handful of nice setups but in return, I gained some patience knowing that these setups will repeat themselves. There is alot less FEELING OF MISSING OUT.. Which reinforces that I have to be prepared to nail that entry and NOT CHASE when I miss my entry since these setups repeat themselves.
"Think of yourself as a retired trader" - T. Sykes
Think of it this way, as traders, Our job is to be patient. Most of our time should be spent watching and waiting.” -LX21
"SUCCESS is when PREPARATION meets OPPORTUNITY" - MSgt Favela
I'm going to leave a link to Tim Grittani's Blog here:
http://tradetheticker.blogspot.com/
This guy's blogs/videos/DVD has helped me HUGE as far as getting me to keep track of my trades/profits/losses on an excel-format document (I use Google Spreadsheets atm).
** Reviewing what happened from Jan 11-13 **
I was having an awesome 3weeks of trading since I had the epiphany about being able to see trends on a multi-timeframe but I was having a rough week at work that sun-wed and went through an emotional rollercoaster. With my new schedule, i'd only realistically have thur/fri now to trade without being sleep-deprived. Wednesday morning after a rough shift and been awake 10 hrs alrdy, i got prepared for the market day knowing to be careful since I was so sleepy and would not be at peak performance.
Jan 11 - Wednesday
ETRM, I knew was a very high risk position that I held overnight. Half-position size but I knew well that I might lose more than I'd like if I had to bail out Pre-Market. By the time pre-market opened, I knew that it was damage control time.. Blew past my stop loss but was able to fill on a bounce. Lost more than i'd like but was able to control the damage.
BIOC, Small position pre-market, opened good, added to my position then locked half my shares in for 284$ profit.. Doubled up on a pullback and watched it fly to the heavens-- I was up $1,200 at one point but failed to lock in any of my shares while it was at the top due to m'fckin GREED wanting it to hit 1.5k-2k. It whipsawed ALOT and lost a majority of the gains within a few minutes--Locked in another half for 178.96$. Overall, I became stubborn for 6-10mins and didn't close out my last 1000 when it dropped to 1.6ish losing 219.8$ with another 80$ lost to commissions. Horrible trade but made a few hundred. I exceeded my day trades though and got my account frozen for 90 days.. FML...
I also, tried to trade a position on E-trade when it was spiking which i got stopped out on because i was too slow in getting my orders in the web platform, I was unable to lock in profits and got stopped out for a small 50$ loss+20$ commissions.
At this point, I walked away like I normally do and I was breakeven I think on the day even with the big ETRM loss. But I was just so mad about what was going on with work and trading was where I felt at home so I opened up my etrade accnt and tried to trade--which of course was a big nono since I was so heated up from work and that GREED got to me. As a result of Revenge trading, I ended up the day red 300$ and got that account frozen for 90 days as well. FML right ?? Both accounts frozen... This is the best day of the year...
-------------------------------------------
Jan 13 - Fri
TBIO. I was able to request and unlock my accounts and get 2$ commissions lower in my TD accnt due to being military. I don't remember what I was doing but I just knew I didn't have any go-to-setups in the AM.. There were reversals that I had been studying but My rule was to paper trade unproven setups.. Fast-forwarding--> 3 Trades later --> TBIO Worst day...
Mistake #1: I traded against the trend
Mistake #2: Should've paper traded this reversal play since this was not a go-to-setup yet.
Mistake #3: Preserve your capital... I lost 600$ just to try out reversal trading... FML...
My first red week -$1000.. I told myself I'll be taking a break from trading to cool off and really take the time to assess and work out why I did what I did.
I ended up getting into the Warrior Trading Pro Course that Sunday during a webinar that they had due to a nice rebate program for their course. I was split on finally being a Sykes Challenge student or the WTPro Course and I think I can learn more from Ross than Sykes currently but looking back now, I think I can learn a ton from the discussions that the millionaire students have with each other inside the challenge. I might go into the challenge again at a later point but not anywhere in the immediate timeframe.
Never trade an unproven strategy.... TBIO......
Zombie Experiment traded the shit out of it.... sigh.. FML...
2 weeks of steady discipline wiped out in 2 days. I thought the revenge trade on that wednesday was bad, but after how friday ended--my zombie trading still reigns supreme as the cause of my largest losses with revenge trading my 2nd largest.
MY MISTAKES AREN'T MISTAKES UNLESS I FAIL TO LEARN FROM THEM !!!
My losses from actual failed breakouts or getting stopped out have been minuscule compared to losses resulting from failure to stay disciplined or control my emotions...
Week to week and day to day, I'm no longer going to think about $$ goals and instead have goals that's focused on mitigating risk and controlling my emotions. The small change of reducing stupid trades from the end of december caused me to have consistent profits. Even with these nasty losses, I had a 1.9:1 Avg Win/Avg Loss ratio--If I can raise my accuracy closer to 50%, the profits will just flow.
Shifting my attitude/mindset from making money and towards:
1) Risk Management
- Know risk prior to trade
- Know stop loss prior to trade
- Size position accordingly to the stop loss and the quality of the setup
2) Managing Emotions
- No more zombie trading (Trading low-quality setups)
- No more revenge trading
Mandatory Weekly Goals....
A) Zero (0) Zombie trades
B) Zero (0) Revenge trades
C) Trade only quality/Go-To-Setups.. (Think retired trader)
New Rule: If I have either 1 zombie trade or 1 revenge trade during February, I will sit out from trading for a mandatory 1 week cooling off. This will be a negative incentive that will turn me off from making those type of trades since almost all my motivation and raison d'être currently is daytrading.
----------------------------------------------------------------------------------
So here I am now, 2 weeks later. I'm pretty scared of going back into the market, albeit with a much, much bigger account that I'll be opening with Speed Trader. I did paper trade GLBS last friday with a good solid result to boost my confidence a little bit.
"Don't be afraid of losses. A loss can be a good thing. Don't shy away from them, don't be embarrassed by them." - T. Sykes.
Overall, I've pulled myself out of the red from december and have been profitable since. I just really need to focus on being disciplined.
PULM
I didn't trade Thursday AM since I was so sleepy but I did take a peek into thur PM for an o/n play. It had a nice F3/ABCD pattern-ish except for two things that I didn't like:
1) It had consistent lower lows in the afternoon.
2) Although it kept most of it's AM gainst, it was 40cents off it's highs.
I thought about buying it, but I went against it since I still wasn't in the mood to trade.
Been awake since I woke up at noon, and stayed up studying all night catching up on Sykes Vid lessons as well as being severely behind my WT Pro lessons--I didn't feel like trading since I'd roughly be awake for 20hrs when the market opens. I opted to go to sleep instead..
My buddy Greg called out AUPH, CRK, and PULM in our FB Chat while I was out snoring away. Now, I'm still catching up on lessons at this cafe in St. Louis and I finally took a peek on how the market did today. Great fckin' CALLS since all 3 ended up with nice spikes. So smexy... PULM was my main stock on my Watchlist too..
Normally, I'd be soo pissed about missing out on it... But by taking that 2 weeks off, I missed a handful of nice setups but in return, I gained some patience knowing that these setups will repeat themselves. There is alot less FEELING OF MISSING OUT.. Which reinforces that I have to be prepared to nail that entry and NOT CHASE when I miss my entry since these setups repeat themselves.
"Think of yourself as a retired trader" - T. Sykes
Think of it this way, as traders, Our job is to be patient. Most of our time should be spent watching and waiting.” -LX21
"SUCCESS is when PREPARATION meets OPPORTUNITY" - MSgt Favela
I'm going to leave a link to Tim Grittani's Blog here:
http://tradetheticker.blogspot.com/
This guy's blogs/videos/DVD has helped me HUGE as far as getting me to keep track of my trades/profits/losses on an excel-format document (I use Google Spreadsheets atm).
Saturday, January 21, 2017
Undisciplined Trades
8 days later from my worst zombie trading loss in TBIO... Took a few days off to really see what went wrong... 1) TBIO was a nice gap-go.. i can't remember what happened but i saw potential reversal trades or a dipbuy.. Rule: Paper trade strategies that aren't your go-to-setups Rule Broken: Tried to do reversals on TBIO to be cont.
MUST RESIST FROM FOCUSING ON PROFITS AND INSTEAD FOCUS ON MINIMIZING RISK !!!
** Entry from 20170121 TBIO **
I fckin looked at my P/L and saw I was up 600$ then spiked to 1,000$ then 1.5k+... Instead of locking in gains, I held on hoping for 2k+ and a stronger spike.... I got so greedy and failed to systematically lock-in my gains.. 6mins could've locked at 600$... 1min of which could've locked in 1.5$k for the day... stock broke back down under 3 and it took me another 4mins to lock in partial profits..
1) Create watchlists daily/develop patience and only trade what's on my WL > FOCUS only on Go-To-Setups
2) 100% compliance with pre-trading requirements prior to making the trade. If I stick to this plan = 0 ZOMBIE/REVENGE TRADES
3) Stop thinking about money and focus instead of making the right plays. The money will follow.
"Think of it this way, as traders, Our job is to be patient. Most of our time should be spent watching and waiting." -LX21
"Aim Small, Miss Small." -T. Sykes
"No one ever went broke locking in profits !!!"- Superman
I was able to stick to it on the first trading week but the commitment faded on my 2nd week..
From now on:
On the first day of a new trading week:
Must recite the week goals and renew the commitment from last weeks goals..
New goals added:
4) Define the risk, set stop loss/profit targets prior to trade, control risk by appropriate position sizing.
MUST RESIST FROM FOCUSING ON PROFITS AND INSTEAD FOCUS ON MINIMIZING RISK !!!
** Entry from 20170121 TBIO **
I fckin looked at my P/L and saw I was up 600$ then spiked to 1,000$ then 1.5k+... Instead of locking in gains, I held on hoping for 2k+ and a stronger spike.... I got so greedy and failed to systematically lock-in my gains.. 6mins could've locked at 600$... 1min of which could've locked in 1.5$k for the day... stock broke back down under 3 and it took me another 4mins to lock in partial profits..
1) Create watchlists daily/develop patience and only trade what's on my WL > FOCUS only on Go-To-Setups
2) 100% compliance with pre-trading requirements prior to making the trade. If I stick to this plan = 0 ZOMBIE/REVENGE TRADES
3) Stop thinking about money and focus instead of making the right plays. The money will follow.
"Think of it this way, as traders, Our job is to be patient. Most of our time should be spent watching and waiting." -LX21
"Aim Small, Miss Small." -T. Sykes
"No one ever went broke locking in profits !!!"- Superman
I was able to stick to it on the first trading week but the commitment faded on my 2nd week..
From now on:
On the first day of a new trading week:
Must recite the week goals and renew the commitment from last weeks goals..
New goals added:
4) Define the risk, set stop loss/profit targets prior to trade, control risk by appropriate position sizing.
Friday, January 20, 2017
ETRM, Friends trade
ETRM (Greg)
Good buddy of mine in Japan that trades. We learned from the same setup. We recently started up a group chat with other aspiring traders. It's AMAZING to know that others are able to profit from the same setup which reinforces the fact that THIS SETUP WORKS !!..
While I was watching GLBS.. He was spot on ETRM on the breakout of the pre-market high. This is a prior supernova... Fucking gorgeous and clean move.... Congratz to Greg and more profits to come !!
Good buddy of mine in Japan that trades. We learned from the same setup. We recently started up a group chat with other aspiring traders. It's AMAZING to know that others are able to profit from the same setup which reinforces the fact that THIS SETUP WORKS !!..
While I was watching GLBS.. He was spot on ETRM on the breakout of the pre-market high. This is a prior supernova... Fucking gorgeous and clean move.... Congratz to Greg and more profits to come !!
GLBS
GLBS
Saw an F1/flag pattern pre-market at nice 9$ arbitrary price point..
08:03 BUY 100shares @9-9.2with $0.50-$0.70 risk..
08:20 SELL 50shares at MACD @$10.2 pre-market high of $10.79. 1 min breakdown at stop loss is at $9.5.. Gonna hold rest at market open unless 5min MACD shows break of trend...
08:31 BUY 50shares @10.8 b/o over pre-market high.. This is gonna be a scalp..
08:35 SELL 100shares @11.2-11.6 1min MACD breakdown.. AM HOD was 11.87 huge resistance at $12.
Pfft.. Glad I double checked whether I had day trades.. I still had 0 trades since i used up all 3 last friday.... Just paper traded in real-time to gain some confidence back... Paper-trading in hindsight has almost no real worth now since there's very little emotions involved.
GLBS prior supernova chart.. It spiked in the past from trump's random blurts. Going back to $50-$100 risk from my $200risk from last friday..
Saw an F1/flag pattern pre-market at nice 9$ arbitrary price point..
08:03 BUY 100shares @9-9.2with $0.50-$0.70 risk..
08:20 SELL 50shares at MACD @$10.2 pre-market high of $10.79. 1 min breakdown at stop loss is at $9.5.. Gonna hold rest at market open unless 5min MACD shows break of trend...
08:31 BUY 50shares @10.8 b/o over pre-market high.. This is gonna be a scalp..
08:35 SELL 100shares @11.2-11.6 1min MACD breakdown.. AM HOD was 11.87 huge resistance at $12.
Tuesday, January 17, 2017
Warrior Trading, TBIO
Never trade an unproven strategy.... TBIO......
Zombie Experiment traded the shit out of it.... sigh.. FML...
**** Gamblers think about profits, Traders think about Risk ****
Shifting my attitude/mindset from making money and towards:
1) Risk Management
- Know risk prior to trade
- Know stop loss prior to trade
- Size position accordingly to the stop loss
2) Managing Emotions
- No more zombie trading
- No more revenge trading
Mandatory Weekly Goals....
A) Zero (0) Zombie trades
B) Zero (0) Revenge trades
C) Trade only quality/Go-To-Setups.. (Think retired trader)
Zombie Experiment traded the shit out of it.... sigh.. FML...
**** Gamblers think about profits, Traders think about Risk ****
Shifting my attitude/mindset from making money and towards:
1) Risk Management
- Know risk prior to trade
- Know stop loss prior to trade
- Size position accordingly to the stop loss
2) Managing Emotions
- No more zombie trading
- No more revenge trading
Mandatory Weekly Goals....
A) Zero (0) Zombie trades
B) Zero (0) Revenge trades
C) Trade only quality/Go-To-Setups.. (Think retired trader)
Saturday, January 14, 2017
14 January Week Review ETRM, BIOC, TBIO, WARRIOR TRADING PRO
Prior to the new year I had set a goal...
Goals for the next two weeks:
1) Create watchlists daily/develop patience and only trade what's on my WL > FOCUS only on Go-To-Setups
2) 100% compliance with pre-trading requirements prior to making the trade. If I stick to this plan = 0 ZOMBIE/REVENGE TRADES
3) Stop thinking about money and focus instead of making the right plays. The money will follow.
"Think of it this way, as traders, Our job is to be patient. Most of our time should be spent watching and waiting." -LX21
"Aim Small, Miss Small." -T. Sykes
"No one ever went broke locking in profits !!!"- Superman
I was able to stick to it on the first trading week but the commitment faded on my 2nd week..
From now on:
On the first day of a new trading week:
Must recite the week goals and renew the commitment from last weeks goals..
New goals added:
4) Define the risk, set stop loss/profit targets prior to trade, control risk by appropriate position sizing.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Warrior Trading - Ross Cameron
I finally bit the bullet and took a mentorship program... I've bn following these 5 programs for over a year now and my thoughts on each..
1) Tim Sykes - Profitly
... I initially applied to the millionaire challenge back in Dec 2014, tough times hit 2015 and I didn't have the capital to get into the challenge anymore.. Took a year's worth of Pennystocking Silver instead and watched all the videos in the library and reverse-engineered syke's trades instead. Learned ALOT of the basics from tim, cons however is that he tends to blab/market 50%+ of the time in his videos. He's also not very good at teaching specifics and is broadly talks about his strategy, Something that Mark Douglas pointed out about successful traders trying to teach. BUT he's gotten ALOT LOT, SO MUCH BETTER than back in 2010. NO ONE is perfect, but his persistence in always getting better got him to this point and should be an inspiration to all.His watchlist's are spot on the stocks that I do trade.. I just got in another year of PS frm January.
2) Nathan Michaud - Investor's Underground
... I'm in for a quarter subscription from Dec. The Watchlists/plays are mostly NASDAQ stocks which require a larger account to make the most of the smaller moves vs the microcap stocks that T.Sykes plays. Very, very good community with all a good amount of the people there helping each other out. I'll move here once I've got a good account size going
3) Cameron Fous - Fous 4
... I was in here for a month back in Spring.. Watchlists are mostly based off technical back then, half are good, half have no catalyst and pure technical and some swings. F3 Patterns and F1/Opening Range Breakouts solidified what I learned from T. Sykes... Fous is a much better teacher on the specifics of his strategy than Sykes. He also was the initial push for me wanting to focus my trading on the first 2-3hrs of the day. Cons - I ended my subscription early by 2wks to cancel the recurring but I lost access to the site and got the last 2 weeks of my "month's subscription"... Kinda pissed me off...
4) Kunal Desai - Bulls on Wall Street
... I watch his free vids on youtube and I know his trades are more in between Ross Cameron's and Fous's.. Not really too interested in his mentorship program though because of the cons of the way the students put in capital to the "hedge fund account". This is beneficial to alot of people, but puts me too much into a disadvantage.
5) Ross Cameron - Warrior Trading
... Ross vids on youtube is what made me decide to finally make the move to the beginning of the day for trading. I remember him trading the morning only using candlestick patterns/price action which at the time was scalping which scared the crap out of me since the moves were so quick. Since I've re-started trading in mid-December and only during the market open, I've slowly gotten the hang of the volatility of the market open. His way of reading price action is what I need right now since my current way of using the MACD/Lagging indicators is too slow (Even though it's ahead of using the 9ema or 13ema).
I attended Ross's webinar today and they had a good deal on their mentorship program. SpeedTrader will rebate 100% of the program's cost through discounted commission rates. This will be a 90 day course but I will need to meet SpeedTrader's 25k account minimum somehow... Ross's mentorship program also has the highest profitability rates of his student's as well as recommended by the online brokers themselves which talks for itself.. I'm excited to see how this goes....
TBIO
TBIO
I was still fazed out from Wednesday's trades... I should've taken the week off.. This setup was shit... 1h/2h/4h.. all the big TF were downward trends.. hence I traded AGAINST the trend...
I was still fazed out from Wednesday's trades... I should've taken the week off.. This setup was shit... 1h/2h/4h.. all the big TF were downward trends.. hence I traded AGAINST the trend...
01/13/2017 08:03:36 Bought 1000 TBIO @ 1.59
01/13/2017 09:01:50 Sold 1000 TBIO @ 1.36
Stopped out
01/13/2017 09:24:49 Bought 1000 TBIO @ 1.41
01/13/2017 09:32:15 Sold 1000 TBIO @ 1.26
Fckin 5m clearly showed a downtrend yet I'm hoping for a reversal?!?!?! It doesn't make sense
01/13/2017 10:31:33 Bought 2000 TBIO @ 1.51
01/13/2017 10:41:41 Sold 1000 TBIO @ 1.5
01/13/2017 10:50:50 Sold 1000 TBIO @ 1.3701
You'd think I'd be done for the day... This is clearly buying too early hoping for a reversal... I've alrdy made this mistake more than once already and I'm supposed to be papertrading reversal plays... FML... Looking back, If I was trading the price action instead of the MACD, I'd be able to get good trades... I was able to downsize finally after I took a deep breath and asked myself what LX21 had said... What would I do if I wasn't in a position.. If I would buy, I should either add or hold... But if I would sell... I should downsize which I did..
Mistake #1: I traded against the trend
Mistake #2: Should've paper traded this reversal play since this was not a go-to-setup yet.
Mistake #3: Preserve your capital... I lost 600$ just to try out reversal trading... FML...
ETRM, BIOC
ETRM
Failed Gap-up.. It wasn't an ideal chart setup, not sure why I went long o/n this... stopped out asap pre-market below my intended s/l.
BIOC
*** Warning: I only had 2 day trades today.. This stock was alrdy up from 1.7 prior day on a go-to-setup ***
I fckin looked at my P/L and saw I was up 600$ then spiked to 1,000$ then 1.5k+... Instead of locking in gains, I held on hoping for 2k+ and a stronger spike.... I got so greedy and failed to systematically lock-in my gains.. 6mins could've locked at 600$... 1min of which could've locked in 1.5$k for the day... stock broke back down under 3 and it took me another 4mins to lock in partial profits..
Got stopped out... =/ .. Fcking stopped out right at the bottom... could've been another +150-+300.. This is my fault for not spending time to chart out where the stop should've been...
AAAAND... I got my TD Ameritrade account frozen for going over my Pattern Day Trading Limit.... FML
~~~~~~~~~~~~~~~~~~~~~~~~~ E-Trade Account ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
01/09/2017 12:03:54 Bought 100 ETRM @ 18.15
Bought ETRM mid-day =/ .. stop/loss'd o/n for gap up..
01/10/2017 09:14:24 Bought 100 ETRM @ 23
Up-sized my position pre-market on higher high.. 5m/15m/4h was uptrend pre-open, 1h was down
01/10/2017 09:31:13 Sold 200 ETRM @ 23.51
Closed my position on failed spike in open.. There was a delayed spike later on but I don't remember what I was doing..
01/10/2017 18:37:55 Bought 50 ETRM @ 27.52
01/11/2017 14:52:10 Sold 50 ETRM @ 22.48
Failed Gap-up.. It wasn't an ideal chart setup, not sure why I went long o/n this... stopped out asap pre-market below my intended s/l.
BIOC
*** Warning: I only had 2 day trades today.. This stock was alrdy up from 1.7 prior day on a go-to-setup ***
01/11/2017 09:14:31 Bought 800 BIOC @ 2.64
Bought Starter Position on b/o of pre-market high..
01/11/2017 09:21:50 Bought 1200 BIOC @ 2.8
Added to position prior to open.. 2.736 new avg.
01/11/2017 09:31:06 Sold 200 BIOC @ 3.0447
01/11/2017 09:31:06 Sold 800 BIOC @ 3.0401
+300
Locked in Half profits when 1m candle failed to make a new high. s/l was halfway of the previous candle.
01/11/2017 09:32:47 Bought 1000 BIOC @ 2.8399
Re-added on b/o of open price level.. new avg 2.78795
01/11/2017 09:40:32 Sold 500 BIOC @ 2.94
01/11/2017 09:40:32 Sold 500 BIOC @ 2.93
+147.05
01/11/2017 09:42:47 Sold 1000 BIOC @ 2.6201
-167.85
Got stopped out... =/ .. Fcking stopped out right at the bottom... could've been another +150-+300.. This is my fault for not spending time to chart out where the stop should've been...
AAAAND... I got my TD Ameritrade account frozen for going over my Pattern Day Trading Limit.... FML
~~~~~~~~~~~~~~~~~~~~~~~~~ E-Trade Account ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
01/11/17 9:30 AM EST Buy 800 BIOC Executed @ $3.0982
01/11/17 9:30 AM EST Buy 100 BIOC Executed @ $3.0982
01/11/17 9:30 AM EST Buy 100 BIOC Executed @ $3.0982
01/11/17 9:31 AM EST Sell 1000 BIOC Executed @ $3.0402
-70
This is what I get for trying to manage my ToS trade along with a web-based trading for my E-Trade account... Got stopped out... I hate using this crap except that e-trade charges 100-150$ for their stupid platform... Dam trade was in and out in seconds and was too slow to execute..
01/11/17 9:31 AM EST PDT Qualification Warning !!!!! *** E-Trade ***
This should've been it for the day... break even... but I was heated up from stupid drama from work, then it got worse when I missed out making $1k+ due to greed.. Guess who came along and showed up for a quick visit? Yes'sir, good old revenge trading... If I wasn't heated up from work, I knew I was done for the day when I left so much profits on the table... I can't blame it on drama from work though since I have no control over that, what I do have control over is whether I react to the bullshit or not...
01/11/17 9:52 AM EST Buy 1400 BIOC Executed @ $3.0694
I was chasing..... Revenge trading time..
01/11/17 10:00 AM EST Sell 1400 BIOC Executed @ $2.8754
-200
Stupid trend broke at 9:56 yet I kept hoping... took another 4mins and another 13cents for me to close out.
01/12/17 7:31 AM EST You have a Minimum Equity Call !!! E-trade Account Frozen...
Saturday, January 7, 2017
7 January Week Review, OREX, ETRM Thoughts
OREX
01/05/17 2:09 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:14 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:29 PM EST Sell 300 OREX Executed @ $3.84
01/05/17 2:29 PM EST PDT Qualification Warning
01/06/17 7:00 AM EST Sell 400 OREX Executed @ $3.78
01/06/17 8:46 AM EST Sell 300 OREX Executed @ $3.65
Locked in profits as soon as E-trade allowed me to. I saw a bid at 3.78 since 6am and waited anxiously till I was able to lock it in. As soon as I took profits, I felt relieved and was able to let the next trade work out a little bit more.
16mins into open and no spike. ETRM is has everyone's attention and OREX will prbably fade off. A HUGE seller at $4 anyways and if there's no volume now, it probably wont break past 4 today so took profits prior to it hitting my stop loss at 3.5.
ETRM
Missed the nice entry in the morning yesterday. I was watching OREX, ETRM for an end of day buy. OREX exhibited the expected pattern so I went in with ETRM. Looking back ETRM had a VERY TINY Float as well a high short %, It didn't show higher lows until the last 1-3mins where it broke out of key resistance. Although I would've liked to have been in the stock. There was no realistic/good entry point til exactly the last minute of the day. Stock spiked above PM highs, That would've been a higher high but no printed lower low.
Dam thing spike up to 5's aftermarket and eventually squeezed shorts/rotated the low float so much it squeezed to 9$ the next day. Coulda doubled my money overnight or quadrupled my money in 2 nights, the question is though. How big would've been my position size? I can't stop thinking about how I could've doubled/tripled/quadrupled my money but I shouldn't be thinking about how to make profits and instead how to mitigate my risk. Those that are chasing madly and going big will get hurt later on if they keep it up. They might've won this time but it is just rewarding a bad habit. I have to remember that trading is a marathon and not a sprint.
01/05/17 2:09 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:14 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:29 PM EST Sell 300 OREX Executed @ $3.84
01/05/17 2:29 PM EST PDT Qualification Warning
01/06/17 7:00 AM EST Sell 400 OREX Executed @ $3.78
01/06/17 8:46 AM EST Sell 300 OREX Executed @ $3.65
Locked in profits as soon as E-trade allowed me to. I saw a bid at 3.78 since 6am and waited anxiously till I was able to lock it in. As soon as I took profits, I felt relieved and was able to let the next trade work out a little bit more.
16mins into open and no spike. ETRM is has everyone's attention and OREX will prbably fade off. A HUGE seller at $4 anyways and if there's no volume now, it probably wont break past 4 today so took profits prior to it hitting my stop loss at 3.5.
ETRM
Missed the nice entry in the morning yesterday. I was watching OREX, ETRM for an end of day buy. OREX exhibited the expected pattern so I went in with ETRM. Looking back ETRM had a VERY TINY Float as well a high short %, It didn't show higher lows until the last 1-3mins where it broke out of key resistance. Although I would've liked to have been in the stock. There was no realistic/good entry point til exactly the last minute of the day. Stock spiked above PM highs, That would've been a higher high but no printed lower low.
Dam thing spike up to 5's aftermarket and eventually squeezed shorts/rotated the low float so much it squeezed to 9$ the next day. Coulda doubled my money overnight or quadrupled my money in 2 nights, the question is though. How big would've been my position size? I can't stop thinking about how I could've doubled/tripled/quadrupled my money but I shouldn't be thinking about how to make profits and instead how to mitigate my risk. Those that are chasing madly and going big will get hurt later on if they keep it up. They might've won this time but it is just rewarding a bad habit. I have to remember that trading is a marathon and not a sprint.
Thursday, January 5, 2017
OREX, PDT Warning !!
OREX
01/05/17 10:38 AM EST Buy 800 OREX Executed @ $3.07
01/05/17 11:06 AM EST Sell 800 OREX Executed @ $3.04
Ugh.. My stop loss was 2.99 and I raised it thinking $3.05 proved itself enough.. but lo and behold I tried to dip buy this shiet in the AM close to noon. M'fer low for the day was $3.00.. I cut losses too quickly maybe? and didn't let the play work out?.. M'fer reached $4.00 at day's end.. $700.. still uneasy on this one.. I will only buy reversals in the am if it's panics at the open to support. 2nd day reversals will be bought in the PM for a 2day F3 Pattern.
01/05/17 2:09 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:14 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:29 PM EST Sell 300 OREX Executed @ $3.84
01/05/17 2:29 PM EST PDT Qualification Warning !!!
I missed my entry at 3.08ish where my original entry in the morning was since it wasn't 2pm yet. Looking back at ETRM chart though and other charts, I'd want the confirmation of a higher low holding so I can set a risk. One thing though, I don't have a platform for e-trade and use the webpage and mobile.. I only wanted 500shares but I guess when I swapped to change the order on my phone, it inputted a second 500share order on top off what I already had. When I sold what I thought was half of my position at my profit target, I got a PDT warning and my P/L was alot higher than I expected. I'm still new to the E-trade website but I finally got a confirmation on what my actual position was. I'm in waaay too big for my risk, It's already triple topped at $4.00 with a huge seller blocking the way with 16,000+shares. I wish I can sell all today but i'll end up with my account frozen for 90 days. FML.. I'm glad E-trade Extended hours starts at 7am vs ToS at 8am. I'll be locking in at least half my shares ASAP and let the rest ride to see the January effect+Friday short squeeze can break through that seller. May the force be with the healthcare sector today.
01/05/17 10:38 AM EST Buy 800 OREX Executed @ $3.07
01/05/17 11:06 AM EST Sell 800 OREX Executed @ $3.04
Ugh.. My stop loss was 2.99 and I raised it thinking $3.05 proved itself enough.. but lo and behold I tried to dip buy this shiet in the AM close to noon. M'fer low for the day was $3.00.. I cut losses too quickly maybe? and didn't let the play work out?.. M'fer reached $4.00 at day's end.. $700.. still uneasy on this one.. I will only buy reversals in the am if it's panics at the open to support. 2nd day reversals will be bought in the PM for a 2day F3 Pattern.
01/05/17 2:09 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:14 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:29 PM EST Sell 300 OREX Executed @ $3.84
01/05/17 2:29 PM EST PDT Qualification Warning !!!
I missed my entry at 3.08ish where my original entry in the morning was since it wasn't 2pm yet. Looking back at ETRM chart though and other charts, I'd want the confirmation of a higher low holding so I can set a risk. One thing though, I don't have a platform for e-trade and use the webpage and mobile.. I only wanted 500shares but I guess when I swapped to change the order on my phone, it inputted a second 500share order on top off what I already had. When I sold what I thought was half of my position at my profit target, I got a PDT warning and my P/L was alot higher than I expected. I'm still new to the E-trade website but I finally got a confirmation on what my actual position was. I'm in waaay too big for my risk, It's already triple topped at $4.00 with a huge seller blocking the way with 16,000+shares. I wish I can sell all today but i'll end up with my account frozen for 90 days. FML.. I'm glad E-trade Extended hours starts at 7am vs ToS at 8am. I'll be locking in at least half my shares ASAP and let the rest ride to see the January effect+Friday short squeeze can break through that seller. May the force be with the healthcare sector today.
IDXG / December Review
IDXG
01/03/2017 09:58:41 Bought 300 IDXG @ 7.9
01/03/2017 10:10:10 Sold 150 IDXG @ 9.36
01/03/2017 10:11:42 Sold 100 IDXG @ 9.25
01/03/2017 10:11:42 Sold 50 IDXG @ 9.24
01/03/2017 10:39:46 Bought 100 IDXG @ 8.5
01/03/2017 11:06:05 Sold 100 IDXG @ 11.575
** Not sure why I can't load pics atm **
I noticed IDXG spiking with volume using the thestockmarketwatch.com and it was a familiar stock from the previous day. Broke the pre-market high at 5.5, decided to chase a lil bit but was sized in too big for my normal risk tolerance. Took profit when the momentum shifted on the 1min chart.
I noticed that the longer TF was still upwards with the price holding the short TF downward. Bought the dip and sold when the momentum was changing. Since I went big on the first trade, I got scared out and downsized from my normal sized position even though this entry was alot better. Sold whole position instead of my normal just half just because my position was small to begin with.
DECEMBER REVIEW
6 Red Trades (1,022)
3 Green Trades + 874.81
33% Win rate and (147.48) for month
2 Red trades caused (701.14) or 67% of my total monthly loss in damage
On review, I traded against the trend and chased the entry. Tried to buy the breakout but instead found the top/false breakout and whipsawed me. Zombie trading/having no plan prior to the trade resulted in my largest loss to date.
On review, I should've noticed that the momentum on the 1m/5m/15m/30m chart wasn't all aligned. To make it worse is the face I chased and tried to buy the breakout which failed and momentum whipsawed me. My position size was way too big but i did cut the loss faster than AKAO.
Goals for the next two weeks:
1) Create watchlists daily/develop patience and only trade what's on my WL > FOCUS only on Go-To-Setups
2) 100% compliance with pre-trading requirements prior to making the trade. If i stick to this plan = 0 ZOMBIE/REVENGE TRADES
3) Stop thinking about money and focus instead of making the right plays. The money will follow.
"Think of it this way, as traders, Our job is to be patient. Most of our time should be spent watching and waiting.” -LX21
"Aim Small, Miss Small." -T. Sykes
"No one ever went broke locking in profits !!!"- Superman
Monday, January 2, 2017
NVDA
NVDA
12/29/2016 15:47:42 Bought 40 NVDA @ 111.14
12/30/2016 08:52:03 Sold 40 NVDA @ 112.72
12/30/2016 11:03:42 Bought 40 NVDA @ 108.9736
12/30/2016 11:15:16 Sold 40 NVDA @ 108.48
Sell Short 40 NVDA Executed @ $110.38
12/30/16 | 09:30 AM ET
Buy to cover 40 NVDA Executed @ $109.6493
12/30/16 | 09:37 AM ET
1) O/n long was the same as my previous NVDA trade, I spotted the top yet didn't take my profit at 14, 13.50, and 13.. got stopped out pre-market.
2) Sold short and yet again i chased and exited my position early from a 1min trend reversal. Did not weigh in the fact that the longer TF has the stock on a downward trend. Stock hit 106 LOD later on the day.
3) Maybe a lil over confident from the 2 green trades or was mad that i got scared out of my short early and missed the pottom by $3.50ish.. traded without having a plan set... go stopped out early, dam commissions ate up my profit for the day...
Nice reversal trades.. will prolly paper trade the next 10 or 20 reversal trades before I trade them again.
For the next 2 weeks, my focus is to make
1) 0 zombie / impatient trades a day. I will only trade patterns that are on my Go-To-Setups list.
2) Prepare a watchlist prior to the trading day every day.
12/29/2016 15:47:42 Bought 40 NVDA @ 111.14
12/30/2016 08:52:03 Sold 40 NVDA @ 112.72
12/30/2016 11:03:42 Bought 40 NVDA @ 108.9736
12/30/2016 11:15:16 Sold 40 NVDA @ 108.48
Sell Short 40 NVDA Executed @ $110.38
12/30/16 | 09:30 AM ET
Buy to cover 40 NVDA Executed @ $109.6493
12/30/16 | 09:37 AM ET
1) O/n long was the same as my previous NVDA trade, I spotted the top yet didn't take my profit at 14, 13.50, and 13.. got stopped out pre-market.
2) Sold short and yet again i chased and exited my position early from a 1min trend reversal. Did not weigh in the fact that the longer TF has the stock on a downward trend. Stock hit 106 LOD later on the day.
3) Maybe a lil over confident from the 2 green trades or was mad that i got scared out of my short early and missed the pottom by $3.50ish.. traded without having a plan set... go stopped out early, dam commissions ate up my profit for the day...
Nice reversal trades.. will prolly paper trade the next 10 or 20 reversal trades before I trade them again.
For the next 2 weeks, my focus is to make
1) 0 zombie / impatient trades a day. I will only trade patterns that are on my Go-To-Setups list.
2) Prepare a watchlist prior to the trading day every day.
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