Weekly Review May 2/4

* NOTE * I had to redo this post since I deleted the 1st final post by accident.  This redo will be hastily done.

RECAP Schedule for Last Week:

Monday
- Full day schedule
- Finish Dux *Didn't Do*

Tuesday
- Full day schedule
- 1 Webinar / Trading ticks *Didn't Do*

Wednesday
- Full day schedule
- 1 Webinar / Trading ticks *Didn't Do*

Thursday
- Full day schedule
- 1 Webinar / Trading ticks *Didn't Do*

Friday
- Full day schedule
- 1 Webinar / Trading ticks *Didn't Do*

GOALS FOR THIS WEEK:
1) Refine Go To Setups / MUST HAVE THIS PRIOR TO TRADING
2) Refine WoH
3) Finish DUX DVD *Didn't Do*

TRADING GOALS FOR THIS WEEK:
1) ONLY Take trades AFTER visualizing it *I went on timeout for the week*
--------------------------------------------------------------------------------------------------------------------------
As far as trading:
I refined GTSetups:
1)  F3 o/n / ABCD preMKT
2)  Gap crap r/g
3) Momo 5min PB

As far as habits:
Sleep routine is VITAL for a powerful start to the next day.  I'm setting up myself for failure if I stay up and expect myself to be at my best the next day.

Schedule for the Current Week:

Mon - Fri
- Screen Time for Scans / Watchlist Creation
- Refine WoH / Exercise Visualizing GTSetups

PREMEDITATIO MALORUM

DEFINE -------------------------------- PREVENT -------------------------------- REPAIR

1)  I get nothing done ------------------ uhh, 50% is showing up --------------- Bounce back the next day

2)  I don't wake up early ------------------ Stick to PM Routine --------- Reset and Bounce back nxt day

3)  FOMO / Zombie Trading ----- GTSetups / Mindfulness / Small pos size --------- Learning Lessons

WHAT ARE THE BENEFITS OF AN ATTEMPT OR PARTIAL SUCCESS

1)  I will gain experience and take Kyzen Trading further into profitability

2)  I will wake up early enough for screen time and accomplish more tasks.  Doing so will reinforce the positive habits I am trying to embody.

3)  Reducing or limiting FOMO / Zombie Trades will limit the drawdowns on my trading capital as well as minimizing emotional rollercoasters.

THE COST OF INACTION

1 MONTH --------------------------------- 6 MONTHS --------------------------------- 3 YEARS

1)  I'm stuck where I am ----------- BOREDOM / FUNDS Depleting---------- I'd need a job in the US

2)  Slow trading growth -------- Habits control me and not the other way ----------- Mindless meatsack

3)  Stuck in mindless trading ---- Frustration increasing / losing money ------ I'd need a job in the US

--------------------------- For Whenever-------------------------------
**** Gamblers think about profits, Traders think about Risk ****
Shifting my attitude/mindset from making money and towards:

1) Risk Management
- Have plan before trade
- Know risk prior to trade
- Know stop loss prior to trade
- Size position accordingly to the stop loss
- ACCEPT RISK !!

2) Managing Emotions
- No more zombie trading
- No more revenge trading

3) Managing Mind
- Regular Meditations
- Objectivity Exercises

Mandatory Weekly Goals....
A) Zero (0) Zombie trades
B) Zero (0) Revenge trades
C) Trade only quality/Go-To-Setups.. (Think retired trader)

** Something I want to do in the future--Watch a stock's price action with NO indicators

Rule: If I have either 1 zombie trade or 1 revenge trade, 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.

*** ACCEPTANCE ***

Changing to 5min TF / Removing RSI/MACD / AMDA, BLNK, HEAR

Just a quick post.  Didn't trade since i'm in timeout.  I've changed to 5min charts for now and removed the RSI and 1min MACD from my graphs for a cleaner chart. 

The Pros:
Instantly, I can see the price action much smoother and see support and resistance levels again.  Along with the volume, It's like a story being read out to me now.  The impatience has slowed down alot as well.  I will have alot less plays but it will keep me from overtrading / FOMO trades.  I've always had whipsaw problems ever since trying to do 1min strategies, I'll be focusing on the 5min stuff and at least that way slow down the tempo of the day to allow more studying.

The Cons:
I will have alot less plays and will need more babysit time in front of the computer.

201805071 VVPR

VVPR

Chart History: (I didn't see this) Heavy resistance from spike 2 days ago
Entry: 3.38 / 3.51 Actual
Stop/Risk: 10cents
Profit Target: Scalp SOP
Plan: 1min PB but I missed the entry and chased it at HOD
Summary:  Total screw up chase
Problem #1:  My rules / GTSetups / WoH is still not clarified so I worked around the corners.
Problem #2:  Did not visualize
Problem #3: FOMO / Impatience / Zombie Trade
Learning Lessons:  WORK ON IT !!

NO TRADING FOR REST OF DAY AND TOMORROW !!!

Weekly Review May 1/4

RECAP Schedule for Last Week:

Monday
- Full day schedule
- Finish Dux *Didn't do*

Tuesday
- Full day schedule
- 1 Webinar / Trading ticks *Didn't do*

Wednesday
- Full day schedule
- 1 Webinar / Trading ticks *Didn't do*

Thursday
- Full day schedule *1/3*
- 1 Webinar / Trading ticks *Didn't do*

Friday
- Full day schedule
- 1 Webinar / Trading ticks *Didn't do*

GOALS FOR THIS WEEK:
1) Refine Go To Setups / MUST HAVE THIS PRIOR TO TRADING *Was able to do 3 GTSetups
2) Refine WoH *Did very little but need to turn these baby steps into bigger steps
3) Finish DUX DVD *LULZ* This will be the goal this week

TRADING GOALS FOR THIS WEEK:
1) ONLY Take trades on GTSetups and AFTER Visualizing the Plan.
--------------------------------------------------------------------------------------------------------------------------
As far as habits:
I'm impressed with how fast I adapted my routine to the new environment.  Biggest takeaway is being able to wake up early.  If I don't follow my PM routine or stay up late, I'm basically setting myself up for failure the next day. 

Ask Myself WHY I WOULD WANT TO SLEEP EARLY? I know I don't like going to bed early, but how can I de-energize staying up late and putting energy on the benefits of going to bed early??


As far as trading mechanics:
Refined GTSetups:
1)  Late day F3 o/n or ABCD PreMKT
2)  Gap and Crap, r/g
3)  Momo 5min PB

I still have yet to finish Dux DVD, Trading Tickers, and Webinars... I HAVE to get some hours in this week and at least finish DUX.

Schedule for the Current Week:

Mon - Fri
- Screen Time / Scans and making watchlists
-

GOALS FOR THIS WEEK:
1) Refine WoH / Visualize and plot fears
2) Finish DUX DVD

TRADING GOALS FOR THIS WEEK:
1) ONLY Take GTSetup trades AFTER visualizing it
2) Prioritize capital preservation over mindless trades

PREMEDITATIO MALORUM

FEAR SETTING / FEAR REHEARSAL for the week:

DEFINE ----------------------------- PREVENT ----------------------------- Repair

1)  I get nothing done ------------------------Uhh, show up ----------------------------- Bounce back
2)  I don't wake up early enough ---------- Follow PM Routine ---------------------- Bounce back
3)  FOMO / Zombie trades ---------- GTSetups / Small pos size ---------------------- Learning Lessons

WHAT ARE THE BENEFITS OF PARTIAL SUCCESS:

1)  If I get business done--I will move Kyzen Trading one step further into profitability.

2)  If I wake up early enough--I will be awake for screen time and accomplish more tasks.

3)  If I reduce FOMO / Zombie trades--I will preserve my capital and improve my discipline.

THE COST OF INACTION:

1 MONTH----------------------------- 6 MONTHS ----------------------------- 3 YEARS

1)  Stuck where I'm at ----------------- Boredom, nothing to do ---------- I'd need a job to live in the US

2)  I'm cheating myself out of screen time -- Slow trading improvement --- Bad habits control me

3)  Reduced capital / equity ---------- LOSE ALOT OF CAPITAL ----- I'd need a job to live in the US

--------------------------- For Whenever-------------------------------
**** Gamblers think about profits, Traders think about Risk ****
Shifting my attitude/mindset from making money and towards:

1) Risk Management
- Have plan before trade
- Know risk prior to trade
- Know stop loss prior to trade
- Size position accordingly to the stop loss
- ACCEPT RISK !!

2) Managing Emotions
- No more zombie trading
- No more revenge trading

3) Managing Mind
- Regular Meditations
- Objectivity Exercises

Mandatory Weekly Goals....
A) Zero (0) Zombie trades
B) Zero (0) Revenge trades
C) Trade only quality/Go-To-Setups.. (Think retired trader)

** Something I want to do in the future--Watch a stock's price action with NO indicators

Rule: If I have either 1 zombie trade or 1 revenge trade, 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.

*** ACCEPTANCE ***

20180504 CREG, CLWT, BSPM

CREG

Chart History: 
Very Heavy Volume resistances 3-4 (I didn't see that prior to entry).  NO NEWS.

Entry:
3.51 @break of half dollar/open/prmkt high.

Stop/Risk:
10cents.

Profit Target:
I didn't have one in my mind prior to entry.  For scalp SOPs, 1st will always be 10-20cent range and then move stop to breakeven.

Plan:
Scalp r/g move into the day high.

Summary:
I didn't want to buy the open since it seemed extended already, I waited for a p/b and bought the break of a new 1min candle going higher.  I sold 1/2 into the ask (this should've been immediate !!) But was slow in stopping out.

Problem #1:
This chart was a GTS for a short.  Shitty chart to long.  No news scalps should be IN and OUT / BreakOUT or BAIL OUT !!.

Problem #2:
The 5min/1min was already against my favor, I did not see this because the HIGH Bubble was covering my macd arrows.  Fail.. I removed the bubbles.


Learning Lessons:

Visualize the trade prior to entry !!!!

Visualize the risk level, profit targets

What if it goes up? What if it goes down?

CLWT

Chart History: 
Fresh Chart, NO NEWS !!!

Entry:
7.35 @break of open high.

Stop/Risk:
10cents.

Profit Target:
I didn't have one set prior to entry.  Once in the trade and up above my scalp SOPs, I overreached and looked for an 8 profit target.

Plan:
Scalp the break.

Summary:
I saw an entry that I wanted at 6.5 but FOMO'd? at 7.35 I kept looking for reasons to enter the stock even though I knew the entry was way extended from the 1min EMA.  I entered the stock and had a 40cent unrealized gain... saw it stalling and tried selling on the ask.  I thought I filled 1/2 but it never filled and bailed out for a 50cent loss =/.  

Problem #1:
The 5min trend was already against me for a scalp.  I knew this had the potential for a whipsaw but entered the trade anyways.

Learning Lessons:

As SOON as i'm up 10-20cents on a scalp, I SHOULD ALREADY BE LOCKING IN at least 1/2 and another 1/2 once reaching 40cents and ride the rest.

BSPM

Chart History: 
Very heavy volume resistances from 4-5, NO NEWS !!

Entry:
4.01 @HOD break.

Stop/Risk:
10cents.

Profit Target:
Scalp SOP

Plan:
Scalp the HOD Break

Summary:
Entered at HOD and IMMEDIATELY REALIZED I was in the wrong.  Whipsawed 40cents against me but was able to sell on the ask for a 10cent loss.

Problem #1:
SUPER SHITTY CHART.  Also, I wasn't sure if my rule was to stop after 2 red trades or 3 so this is technically a REVENGE TRADE. 

Problem #2:
I knew it had a high risk of whipsawing since it was so far from the 1min EMA but I listened to Ross about the hod break which should have been a huge nono.  Mistake from the past haunts me.


Learning Lessons:

REFINE MY WOH and SOPs !!!!

20180502 EYPT, IMTE

EYPT

Chart History:  ABCD Broke out of a 2.5 pivot point yesterday AM and consolidated above it before breaking again in the PM.

Entry:
EOD Close @ 2.7

Stop/Risk:
2.5/2.6/2.65????

Plan:
Sell into AM Spike.  Exit if no spike/volume.

Summary:
Bought EOD for GAPUP/AM Spike.  FAT FINGER ERROR !!  I was trying to cancel my sell order on the ask for breakeven and bailed out instead for a 1cent loss.  I was trying to cancel since even though there was no volume I was gonna play off my unclarified stop at 2.65.  I would've been stopped out since the proper stop level wouldve at least been 2.6 which was the prior day's PM low.

Problem #1:
My risk level wasn't clarified with a range of 2.5 - 2.65 which became a problem once I was already in the trade.  Once in the trade, not having that specified risk level got me hesitant.

Problem #2:
My trade plan wasn't big picture enough and did not consider further steps into a no volume open.

Learning Lessons:

Take my time and define the risk prior trade entry.  Stick to trading plan no matter what.



IMTE

This pic is just for fun to look at today.. No catalyst squeeze.