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 !!!!