Review of September GTOs:
September Playbook:
1) Bounce Short- 10m>30m>50m resistance, >50%+ on HOD = $15k, $25k, $35k Max Pos Size. None fit during the month that I'm aware off, only 1 that is a modified Bounce Short.
2) AM Mean Rev- Must be over extended from 5m EMA Pre 10am, 15m EMA pre 11am, and utilize 30m EMA after 11AM. Must let volume/price action dictate first entry and NOT JUST Chart or RSI. 1st Entry is 1/4. 5min EMA cover 1/4 at 1st target and 15min cover ALL at 2nd target unless it's a bounce short !! Can hold 1/4 up to 30m Target if situation provides the opportunity. If over >50% on day, Max Position Size = $10k. If 2 Factors from High Risk Play or >30% but <50%, Max Pos Size = $5k. If >$20 stock, Max Pos Size $30k. ***** If microfloat or big cap, notice where wick is occuring and 1st entry need to be on the upper 2/3 of the range in question. ***** I NEED MASSIVE WORK on being patient to have the volume dictate where the backside is. I'm always caught in front of the move and having to size up. ALL initial entries can only be 1/10 of position size with no adds if the volume does not tell you its side of the story.
3) AM Mean Rev 1st Bounce- Avg must be in upper 60% of range, use 5m candle minimum or 15m candle post 11am = 1/4 of Max size for that trade Cover ALL at 1st target unless a Bounce Short FMC, if so, cover at end of day. Failure to abide by the size rule fucked me on WLL. Even worse was that I didn't stopout where intended.
*** >200m MktCap MUST Use 30m chart, RSI nothing lower then 89 on 15m/30m
1) Bounce Short- 10m>30m>50m resistance, >50%+ on HOD = $15k, $25k, $35k Max Pos Size. None fit during the month that I'm aware off, only 1 that is a modified Bounce Short.
2) AM Mean Rev- Must be over extended from 5m EMA Pre 10am, 15m EMA pre 11am, and utilize 30m EMA after 11AM. Must let volume/price action dictate first entry and NOT JUST Chart or RSI. 1st Entry is 1/4. 5min EMA cover 1/4 at 1st target and 15min cover ALL at 2nd target unless it's a bounce short !! Can hold 1/4 up to 30m Target if situation provides the opportunity. If over >50% on day, Max Position Size = $10k. If 2 Factors from High Risk Play or >30% but <50%, Max Pos Size = $5k. If >$20 stock, Max Pos Size $30k. ***** If microfloat or big cap, notice where wick is occuring and 1st entry need to be on the upper 2/3 of the range in question. ***** I NEED MASSIVE WORK on being patient to have the volume dictate where the backside is. I'm always caught in front of the move and having to size up. ALL initial entries can only be 1/10 of position size with no adds if the volume does not tell you its side of the story.
3) AM Mean Rev 1st Bounce- Avg must be in upper 60% of range, use 5m candle minimum or 15m candle post 11am = 1/4 of Max size for that trade Cover ALL at 1st target unless a Bounce Short FMC, if so, cover at end of day. Failure to abide by the size rule fucked me on WLL. Even worse was that I didn't stopout where intended.
*** >200m MktCap MUST Use 30m chart, RSI nothing lower then 89 on 15m/30m
TRADING GOALS TIL END OF September:
1) Maintain Mandatory >50% Setups until mid August for mid-month Review, SLOW IT DOWN !! Do the prep work required-- Recon 1 + Recon 2 !! Set Alerts and turn off Trading Setup after 11AM if slow day !!
2) ALL Trades must fit ONE of the Playbook Plays, Verbalize play PRIOR to entering
3) ALL TRADES are Mandatory based off the 15m Chart Post 10AM, and 30m TF Post Noon.
4) HIGHLIGHT HIGH RISK PLAYS PRIOR TO ENTERING !!:
- Fresh Chart or NO DAILY RESISTANCE and shorting <50%
- <2m Float
- >1m Volume in Pre-Market
- Positive Phase II or III Trials
- BigCap Company mentioned in Press Release
- 2nd Green Day don't touch unless 100% 1st day + 60% plus on 2nd day OR dip buy AM Panic into prevDay support.
BEHAVIORAL GOALS TIL END OF September:
2) Initiate Point and Call Strategy / Verbalizing the Price Action / Verbalizing how I am currently feeling. Rat: Use more senses to bring current subconcious behaviors to awareness to help mitigate stupid habits like boredom trading. Totally didn't do this.
3) I've had the rule that if I don't meditate = no trading before--but I do know that I'm not compliant on it at all times and I never did track it before. So starting from now on, monthly reviews will include a review of my compliance to this and adjust routine as necessary to help enforce this. Rat: Meditation gives me the headspace to prevent myself from entering stupid plays and curb my impatience. Last week thru the month, I stopped doing the habits tracker. In Japan, I actually didn't utilize it but I did meditate more. I will be doing this for October instead. I will also be implementing mandatory paper checklists that was on the digitial journaling/tracker.
Month Progress:
June = 10steps forward, 2 steps back. Because of this, I will push myself in Aug.
July = 20steps forward, 15 steps back. Only traded 2 weeks and we went from osaka>tokyo>korea>china>texas>oklahoma. I was able to push and find out where my limits lies.
Because we were apt hunting as well as adapting back to life back in the US. I will lower my expectations for Aug.
Aug = 4steps forward, 2steps back. Not where I want still as far as ratio moving forward/stepping back. I'm 1week behind classes so will be lowering expectations even further in Sept.
Sept =
1st wk: Took it off to catch up with classes. Thi was hyped up with a business opportunity and I was tilting as well because I felt rushed needing to make alot of money.
2nd wk: 2steps forward, no steps back. I'm in line with what I should be doing.
3rd wk: That morning was a 2steps forward, but I didn't trade it as well as I should've and a bad bounce add resulted in me taking a huge 20steps forward contrary to the strategy. I wanted to make alot of money back since It's already the 3rd week and im nowhere where I WANT to be even though i'm in-line with my months expectations. Well, one bad decision right after another and I ended up moving 20steps back.
4th wk: grind back 2steps forward.
July = 20steps forward, 15 steps back. Only traded 2 weeks and we went from osaka>tokyo>korea>china>texas>oklahoma. I was able to push and find out where my limits lies.
Because we were apt hunting as well as adapting back to life back in the US. I will lower my expectations for Aug.
Aug = 4steps forward, 2steps back. Not where I want still as far as ratio moving forward/stepping back. I'm 1week behind classes so will be lowering expectations even further in Sept.
Sept =
1st wk: Took it off to catch up with classes. Thi was hyped up with a business opportunity and I was tilting as well because I felt rushed needing to make alot of money.
2nd wk: 2steps forward, no steps back. I'm in line with what I should be doing.
3rd wk: That morning was a 2steps forward, but I didn't trade it as well as I should've and a bad bounce add resulted in me taking a huge 20steps forward contrary to the strategy. I wanted to make alot of money back since It's already the 3rd week and im nowhere where I WANT to be even though i'm in-line with my months expectations. Well, one bad decision right after another and I ended up moving 20steps back.
4th wk: grind back 2steps forward.
12 Instances of Non-Playbook, 3 Instances of Boredom Trading, 3 Bad Bounce adds, 2 Revenge Trading-- Better Recons/Prep Work, Mandatory AM Routine/Meditate PRIOR to entry, Mandatory Point and Call Strategy to help with this. Post 1PM EST is an automatic platform close unless a hot 100%+ is in play.
This month was really all about volume discovery. I'm still entering too early far from resistance/no resistance with NO volume telling me its the backside. If no story = no trade. This'll be the goal for the month.
This month was really all about volume discovery. I'm still entering too early far from resistance/no resistance with NO volume telling me its the backside. If no story = no trade. This'll be the goal for the month.
Charts that got me in trouble:
9/16 WLL Bad Bounce add with HEAVY Size, didn't stop out where intended
9/17 Scared out of 1st trade, Revenge Traded a falling knife heavily
9/17 Scared out of 1st trade, Revenge Traded a falling knife heavily
This (October) MONTH'S PRIMARY FOCUS is DISCIPLINE. 1wk timeout of failure to do prepwork/checklists prior to putting a trade on. The SECONDARY FOCUS is LISTENING to the volume for it's story. No story = No entry,
GTOs til End of October:
September Playbook:
1) Bounce Short- 10m>30m>50m resistance, >50%+ on HOD = $15k, $25k, $35k Max Pos Size.
2) AM Mean Rev- Must be over extended from 5m EMA Pre 10am, 15m EMA pre 11am, and utilize 30m EMA after 11AM. Must let volume/price action dictate first entry and NOT Chart or RSI. 1st Entry is 1/4. 5min EMA cover 1/4 at 1st target and 15min cover ALL at 2nd target unless it's a bounce short !! Can hold 1/4 up to 30m Target if situation provides the opportunity. If over >50% on day, Max Position Size = $10k. If 2 Factors from High Risk Play or >30% but <50%, Max Pos Size = $5k. If >$20 stock, Max Pos Size $30k. ***** If microfloat or big cap, notice where wick is occuring and 1st entry need to be on the upper 2/3 of the range in question. *****
3) AM Mean Rev 1st Bounce- Avg must be in upper 60% of range, use 5m candle minimum or 15m candle post 11am = 1/4 of Max size for that trade Cover ALL at 1st target unless a Bounce Short FMC, if so, cover at end of day.
1) Bounce Short- 10m>30m>50m resistance, >50%+ on HOD = $15k, $25k, $35k Max Pos Size.
2) AM Mean Rev- Must be over extended from 5m EMA Pre 10am, 15m EMA pre 11am, and utilize 30m EMA after 11AM. Must let volume/price action dictate first entry and NOT Chart or RSI. 1st Entry is 1/4. 5min EMA cover 1/4 at 1st target and 15min cover ALL at 2nd target unless it's a bounce short !! Can hold 1/4 up to 30m Target if situation provides the opportunity. If over >50% on day, Max Position Size = $10k. If 2 Factors from High Risk Play or >30% but <50%, Max Pos Size = $5k. If >$20 stock, Max Pos Size $30k. ***** If microfloat or big cap, notice where wick is occuring and 1st entry need to be on the upper 2/3 of the range in question. *****
3) AM Mean Rev 1st Bounce- Avg must be in upper 60% of range, use 5m candle minimum or 15m candle post 11am = 1/4 of Max size for that trade Cover ALL at 1st target unless a Bounce Short FMC, if so, cover at end of day.
*** >200m MktCap MUST Use 30m chart, RSI nothing lower then 89 on 15m/30m, Short only UNDER Resistance or if Volume tells a story.
TRADING GOALS TIL END OF October:
1) Maintain Mandatory >50% Setups SLOW IT DOWN !! Do the prep work required-- Recon 1 + Recon 2 !! Set Alerts and turn off Trading Setup after 11AM if slow day !!
2) ALL Trades must fit ONE of the THREE Playbook Plays, Verbalize play PRIOR to entering with Point+Call commentary throughout the trade.
3) ALL TRADES are Mandatory based off the 15m Chart Post 10AM, and 30m TF Post Noon.
4) HIGHLIGHT HIGH RISK PLAYS PRIOR TO ENTERING !!:
- Fresh Chart or NO DAILY RESISTANCE and shorting <50%
- <4m Float
- >1m Volume in Pre-Market
- Positive Phase II or III Trials
- BigCap Company mentioned in Press Release
- 2nd Green Day don't touch unless 100% 1st day + 60% plus on 2nd day OR dip buy AM Panic into prevDay support.
5) No Trading post 12pm unless Shorting Para >20% UNDER RESISTANCE or Volume telling it's story.
5) No Trading post 12pm unless Shorting Para >20% UNDER RESISTANCE or Volume telling it's story.
BEHAVIORAL GOALS TIL END OF October:
1) MANDATORY STANDARDIZED PAPER CHECKLISTS. Rat: Increase preparation time and mitigate effects of lacking preparation / not being awake enough.
2) Initiate Point and Call Strategy / Verbalizing the Price Action / Verbalizing how I am currently feeling. Rat: Use more senses to bring current subconcious behaviors to awareness to help mitigate stupid habits like boredom trading.
3) If I trade a setup that is NON-PLAYBOOK or sized beyond what the strategy states = 1wk TRADING TIMEOUT !!
5) Have a BIG FUCKING PAPER SIGN OF SAID FUCKING RULES IN FRONT OF MY FACE during trading!!
6) Daily TIMEOUTS after completing the paper checklist at the beginning of the fucking day !!
October month's MANTRA is
FUCK THE MONEY, ONE GOOD TRADE !!
If there is nothing today fitting the criteria, either study or take the day off !!!
Discipline is a lagging indicator. Focus on your behavior in the NOW moment.
Learning Lesson: Listen to Emotion > Change my state > ASK QUESTIONS > Focus on the process/grind. Shrug it off and keep moving forward !!
PREMEDITATIO MALORUM
FEAR SETTING / FEAR REHEARSAL for the week:
DEFINE ----------------------------- PREVENT ----------------------------- Repair
1) FOMO ------------------------------Pre-Market Preparation -------- Sleep on Time to wake up on time
2) FOMO ----------------------- Follow ONLY Playbook Trades --- There's always opportunity LATER
3) Fear of Losing $$$$------ Bracket the orders and let SL get hit ------- Reassess if Entry was correct
WHAT ARE THE BENEFITS OF PARTIAL SUCCESS:
1) As long as I remain resilient and refine my systems--I am one step closer to CPT
2) If I wake up early enough--I will be awake for screen time and accomplish more tasks.
3) If I reduce FOMO trades--I will preserve my capital and improve my discipline.
Accept the emotions and no longer identify with them. It's much easier to see things in the external world without passing judgement on them..
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