WEEKLY RECAP: May 15-19

Pros:
1)  Did NOT OVERTRADE

Cons:
1)  Applied WT Style scalp on Higher priced stocks = whipsawed back to VWAP.
---- Chased AMD on Tuesday, applied WT Style to IU Style stock
---- Chased NVDA on Thursday, applied WT Style to IU Style stock
---- Chased NVDA on Friday, applied WT Style to IU Style stock and now a bagholder !!!!
**** WT Style = Quick in and out, Make sure you're not extended on the 1min/5min/MA/VWAP
**** IU Style = Buy/Short based on VWAP

2)  Let other's analysis affect my trade
****I can keep the chat open to use the scanner/alerts but NOT to use other people's analysis.

3)  On Friday, I still oversized my position on the last FOMO NVDA trade.
**** Take the time to assess the trade prior to making the trade like I'm SUPPOSED TO !!!

4)  On Friday, I snowballed emotional trades one after the other.
**** Take the time in between trades to assess my emotional state like I'm supposed to.  It's much more controlled this week vs. last week but I'm still jumping from emotional trade to another.  I thought up of a system/having an emotional thermometer beside my monitor--but I still haven't implemented it yet.



This week was much more solid trades and didn't overtrade.  The biggest takeaway was realizing how to separate/distinguish which stocks I can use WT Style vs IU Style trading.

My main goal for every week for the next month NEEDS TO BE APPLYING the systems I've thought of this last month.  I've been good at learning from my mistakes and coming up ways to prevent them.  My problem is that i've been winging trading and haven't been applying the systems causing me to repeat the same mistakes from before.

MAIN GOALS every week til end of June:
1)  Risk Assessment and Pre-gaming/Picturing the trade mentally PRIOR to the trade.

2)  Emotional thermometer beside my monitor to remind me to assess how I am BEFORE/AFTER each trade.

3)  If I'm in a trade that I am not COMFORTABLE with.  GET OUT !!

4)  Don't MIX WT Style vs IU Style and Day Trades vs Swing Trades

TNXP, GLYC, NVDA

TNXP

I FUCKED UP, this is the 3rd time this happened now.  Ross Commenting on PTX where it blew through my stop loss when I adjusted it according to what Ross said.  I also went in JWN last week because of what Mike said without fully assessing the setup.

Ross said something about breaking 5 and I was looking at other charts.  Anyways, I swapped to TNXP and briefly looked at it and as soon as I clicked BUY, I KNEW i was wrong.  1min/5min candles and VWAP were waaaay too far, I should've gotten out immediately but gave it a few secs.  As soon as it was unable to reclaim 4.8, I knew that that momentum shifted even before the MACD confirmed the trend change and got out my loss before it spiraled out of control.  I ended up turning off Ross's Webinar so I can concentrate on the stocks i'm looking at.

*** One good thing though, I'm starting to stare less at the MACD and seeing more on just the Chart/Price Action/Tape.

Lesson Learned:  NEVER listen to anyone else's analysis.  I can keep the webinar on ONLY to have access to the Trade Ideas scanner and heads up on anything moving but NEVER to anyone else's analysis.

GLYC

I was pissed about TNXP yet I still didn't take a timeout/breather in between trades >_<.. Anyways, This was the stock I wanted to watch at the open and it sold off so I was waiting for a red to green move.

1st Trade - BUT since I was in the TNXP, I missed the buy as it was breaking VWAP and went FOMO on it at 13.11.  Fear kicked in and I locked in my gains since I knew I was chasing it at 13.11.  I sold it WAAAAY EARLY and this is the first time I've ever done that since usually my exits are on point.

2nd Trade - I shorted but I can't remember why, since I didn't assess my risk and set a stop, I got stopped out emotionally.  This would've been a really well timed short if only I stopped and assessed the trade and set a risk so that I wouldn't have gotten stopped out like an idiot.

3rd Trade - After I stopped out, a chain reaction of emotional trades spawned--I bought on emotion and instantly knew I was wrong after it dropped 60cents wiping out my gains from earlier. FML..

I KNEW that the momentum is dead and a good 1st profit target for a short was VWAP and possibly even lower since this was up so much for two days.  I tried to get filled  from 13.6 > 13 but couldn't get filled.

4th Trade - I gave up trying to get filled and started to get errors trying to cancel this order I had at 13.  It spiked to 13.2 and I restarted my platform.  When I relogged, the order got canceled but a few mins later it showed that I had 100shares short at 12.87 which was awkward since I didn't set a limit that low but whatever--the price was already below 12 and I was close to 100 green ;D.  It popped over 12 and I covered at 12.21.  It kept on going down but I'm not gonna complain about getting free money.

NVDA

Emotional trades one after the other.  I sold a small o/n long i had Pre-Market when it looked like it was having trouble at 136.50. I shouldn't have touched this at all.. Meddling my swing trade into daytrades ends up cutting my profits short.  And the opposite goes true, my daytrades turn into swing trades to make my losses go big.  Anyways, for SOME ODD REASON, I top-ticked bought it on HOD like an idiot thinking i'll scalp a bigcap stock... >> Fast forward: My last lesson on using WT Pro style on bigcap stocks.  I'm currently a bagholder like an idiot to teach myself a lesson.  This is exactly the same mistake I did yesterday.  FML !!