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 !!!!