Review of August GTOs:
August Playbook Revised:
1) Bounce Short- 10m>30m>50m resistance, >50%+ on HOD = $15k, $25k, $35k Max Pos Size
*** No more than 1/4 Size on the front side and Only add the last 1/2 on the b/d of 15m candle, cover 1/3 on 15m EMA, cover up to 1/4 at 50% of spike, 1/4 size at EOD. Keeping the same, didn't have problem / chances to trade this.
2) Bounce Short FMC- up at least 40% on HOD wait for 400k+ 5m stuff candle or trend breakdown near resistance = 1/4-1/3 of Bounce Short Size Removing as a standalone stat but adding it to AM MeanRev Profit taking if it coincidentally falls under both strategy.
3) AM Mean Rev / Intraday Gap Reversal- Must be 1:2 Risk/Reward from EMA + LowrHighs = 2R on 5EMA, 4R on 15EMA. Size in 1/3rds. 5min 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. Max Position Size = $10k. If 2 Factors from High Risk Play, Max Pos Size = $5k. Revisit at Mid-Month and double if doing well after 1st week. If >$20 stock, Max Pos Size $30k Modifying this for Microfloats/Big Caps that has big wicks.
4) AM Mean Rev 1st Bounce- Avg must be in upper 60% of range, use 5m candle minimum= 1/4 of Max size for that trade Cover ALL at 1st target unless a Bounce Short.
TRADING GOALS TIL END OF AUGUST:
1) Maintain this size until mid July for mid-month Review, SLOW IT DOWN !! Do the prep work required-- Recon 1 + Recon 2 !! Shit was all over the place while traveling. When I got home, I still didn't have my shit together and it SHOWS in my trading. Get your shit together, Complete the routine, calm your mind and do your Recon 1 + Recon 2 PRIOR to entering the trade.
SUCCESS is when PREPARATION meets OPPORTUNITY !! Do the Prep Work !!
2) ALL Trades must fit ONE of the Playbook Plays, Verbalize play PRIOR to entering Totally forgot about this !! This can totally help me out on my Non-Playbook Trades and Boredom Trading which was a massive epidemic this month.
3) ALL TRADES are based on the 5min Chart as a minimum.. with focus on S/R Levels, If there is no S/R Levels, Focus on Price action and 15m Chart !!! #1 Priority is S/R Levels, #2 is th 15m TF minimum now after 10AM or Shares above 20m. Mandatory 30m TF after NOON !!
4) HIGHLIGHT HIGH RISK PLAYS PRIOR TO ENTERING !!:
- Under $2.00 Stock
- <2m Float
- >1m Volume in Pre-Market
- Positive Phase II or III Trials
- BigCap Company mentioned in Press Release FUCKING APRN !!
SUCCESS is when PREPARATION meets OPPORTUNITY !! Do the Prep Work !!
2) ALL Trades must fit ONE of the Playbook Plays, Verbalize play PRIOR to entering Totally forgot about this !! This can totally help me out on my Non-Playbook Trades and Boredom Trading which was a massive epidemic this month.
3) ALL TRADES are based on the 5min Chart as a minimum.. with focus on S/R Levels, If there is no S/R Levels, Focus on Price action and 15m Chart !!! #1 Priority is S/R Levels, #2 is th 15m TF minimum now after 10AM or Shares above 20m. Mandatory 30m TF after NOON !!
4) HIGHLIGHT HIGH RISK PLAYS PRIOR TO ENTERING !!:
- Under $2.00 Stock
- <2m Float
- >1m Volume in Pre-Market
- Positive Phase II or III Trials
- BigCap Company mentioned in Press Release FUCKING APRN !!
5) No 2nd Green Day/No resistance Trades unless it 100% 1st day and 100% on 2nd Day. The one thing I didn't have problems with was because I wasn't active enough to see a 2nd day trade!!
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 !! Keeping the >50% Rule til end of Sept. WILL BE TRACKING Recons Religiously. I have 5 instances where "Lack of Preparation" was an area of concern.
2) ALL Trades must fit ONE of the Playbook Plays, Verbalize play PRIOR to entering 8 Instances of Non-Playbook Trade, WILL BE TRACKING Point and Call strategy PRIOR to entering a trade.
3) ALL TRADES are Mandatory based off the 15m Chart Post 10AM, and 30m TF Post Noon.
Didn't see a problem this month. Tunnel Visioning has decreased since the prior 2 months. Will consider removing as a goal at the end of October.
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
***** Totally Didn't do this at all.. This is #1 Priority this month
5) No 2nd Green Day/No resistance Trades unless it 100% 1st day and 100% on 2nd Day.
1 Instance of breaking this rule this month. Will remove this and jst add it on the high risk play list.
3) ALL TRADES are Mandatory based off the 15m Chart Post 10AM, and 30m TF Post Noon.
Didn't see a problem this month. Tunnel Visioning has decreased since the prior 2 months. Will consider removing as a goal at the end of October.
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
***** Totally Didn't do this at all.. This is #1 Priority this month
5) No 2nd Green Day/No resistance Trades unless it 100% 1st day and 100% on 2nd Day.
1 Instance of breaking this rule this month. Will remove this and jst add it on the high risk play list.
Month Progress:
As a backdrop on what happened this month. First 2 weeks I traded at home, struggled to keep my focus at home but I am way more mentally stronger than back then. 3rd/4th week was traveling to Houston/Austin/Dallas. 3rd wk, in my head, I felt like I was in too heavy on trades, lotsa trash microfloats was being manipulated by algos, and just plainly traveling alot--I chose to keep it small and work on the wicks problem I was noticing I was having. Basically, I needed to pay attention to the chart pattern less and listen to the VOLUME/PRICE ACTION more on charts that have weak Daily History/Resistance levels.
In hindsight, I feel like I was trading more calmer/patient in the 1st two weeks vs in July. The last 2 weeks was also me adapting to the shit microfloats that was being traded. I didn't make alot of money, but I didn't lose alot either. In the end, I LEARNED A HELLA LOT though..
In hindsight, I feel like I was trading more calmer/patient in the 1st two weeks vs in July. The last 2 weeks was also me adapting to the shit microfloats that was being traded. I didn't make alot of money, but I didn't lose alot either. In the end, I LEARNED A HELLA LOT though..
12 Instances of Boredom Trading, 5 Lack of Preparation-- 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.
2 Instances of Shorting levels that are on a Multi-Day Breakout-- *Same as above* There was 1 case of this in the month of July with BYND.
3 Instances of when a psychological level that had weak volume fcked me over hard- Listen to volume/price action more than some stupid arbitrary number.
4 Instances of Big Wicks on the chart gets me lousy entries. I need to chill and wait for the price action/volume tells me where the top is.
Sizing, I felt like I was too small on majority of the plays and not sticking to the size the playbook dictates. And then when I get shit entries/non-playbook plays--I end up going too heavy. Will monitor how much I'm compliant with the shares sizes prescribed in my playbook.
2 Instances of Shorting levels that are on a Multi-Day Breakout-- *Same as above* There was 1 case of this in the month of July with BYND.
3 Instances of when a psychological level that had weak volume fcked me over hard- Listen to volume/price action more than some stupid arbitrary number.
4 Instances of Big Wicks on the chart gets me lousy entries. I need to chill and wait for the price action/volume tells me where the top is.
Sizing, I felt like I was too small on majority of the plays and not sticking to the size the playbook dictates. And then when I get shit entries/non-playbook plays--I end up going too heavy. Will monitor how much I'm compliant with the shares sizes prescribed in my playbook.
Charts that got me in trouble:
8/22 GLUU- Falling Knife
8/6 ALLK- Too early on BigCap Squeeze at ATH
8/12 RKDA- Trash Microfloat I traded that had no edge
8/13 RKDA- FOMO, Revenge Trading.
8/14 NVAX Just got too heavy too fast.
8/26 RKDA- Lack of Prep, overtrading, boredome. Shorting Mult-Day Breakousts
As a reminder to what happens If I let myself be undisciplined/too fucking stupid:
8/6 ALLK- Too early on BigCap Squeeze at ATH
8/12 RKDA- Trash Microfloat I traded that had no edge
8/13 RKDA- FOMO, Revenge Trading.
8/14 NVAX Just got too heavy too fast.
8/26 RKDA- Lack of Prep, overtrading, boredome. Shorting Mult-Day Breakousts
As a reminder to what happens If I let myself be undisciplined/too fucking stupid:
This (September) MONTH'S FOCUS is PREP WORK and not playing anything prior to completion of Meditation/Recon1+2/Point and Calls.
GTOs til End of September:
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.
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:
1) Execute Planned Sleeping Routine/AM Routine and Track of what times I go to bed/Wake up by using Fitbit. Review and adjust as necessary on next month's review. 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) 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.
*** I have a Habits Map being monitored and adjusted on a separate tracker but I did want to include these in here since they directly affect my trading performance.
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..
