NVDA vs Andrew Left (Citron Research), AMD, MU $1200 Unrealized Gains Lost

NVDA

1) Bought 50 after last weeks weak hands fiasco.
2) Added 25
3) Added 25
4) Got aggressive and added another 25.  Typically, NVDA runs last at least two days, so instead of profit taking like I usually do.  I added small.  I was up 1300$ when I last looked at my mobile phone before getting busy with work.

** I was at work in the middle of a briefing and preparations for our air show.  Within the span of the 2 hours I was busy.  Citron Research's Andrew Left came out with a report stating that NVDA was being overvalued by the market.  As always with Citron's short calls, the market panic'd and down NVDA went.  When I came home, I saw 1000$ gone and I closed the position.

At the time, I felt so stupid for not taking profits and really tore into myself.  But stepping away and looking back.  I could not have predicted a report out by Citron so the add wasn't a bad thing.  The thing I really needed to be learned was the minimizing risk during the time I wasn't babysitting the trade.  I knew I was going to be busy, I SHOULD'VE downsized and taken at least half the profits.  If this was a daytrade, I would've been easily out of the whole trade but since this was a swing trade, I didn't have a set plan to include me being away from the market.

From last week's weak hands, I turned into an aggressive bull.  It's crazy how one imbalance can turn into another imbalance on the opposite side of the spectrum. Sigh, anyways.. 1000$ mistake to learn from... **

Shorted NVDA at 155 with a stop at 156 which was a good short since it's at 150 now.  But I felt that I was too emotionally sickened by the large unrealized gains loss that I forced myself out to exit early.  It could've gone either way but it's better to be safe than sorry.

** 10hrs late-- i noticed one other thing, normally in the past, i do use hard stops to lock in gains... i'm unsure whether it was because i was euphoric or just the fact i was using the dastrader mobile that the idea/thought didn't kick in.  Trailling Hard stops have ALWAYS saved me from losing so much unrealized gains in the past.. not sure why it didn't come to my mind today.. **

Trump being Trump

1st Graph is the S&P 500
2nd Graph is MU
3rd Graph is AMD
4th Graph is NVDA

What's better to ruin someone's day than just ruining one stock?  Well, my AMD position always like to mimic NVDA so there goes that.  MU was holding on while being tugged down by NVDA.  Unfortunately, bad news about trump crashes the market yet again and that's what all was needed for MU to finally start crashing down.  Sigh, exited out of all my swing positions from the stupidity of the market.

NVDA, FOMO Losing Gains

NVDA

You TELL me why you keep doing this to yourself..

1) Justified skipping pre-trading checklist to meddle with the swing trades because you weren't going to daytrade.

2) Shit from work and sleepy caused you to get out of the trade early.  $5/share move FML!!!!!  If your LONG TERM TRADES ARE DOING WELL.  STAY WITH THE PLAN AND STOP MEDDLING WITH IT.

How to Mine Bitcoin/Ethereum for Side Cash/Profits !!

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Calculate what you would get if you know your mh/s
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https://www.youtube.com/watch?v=YDUzo95ZkqM




MINE ETH NOW With minimal setup required !!
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1) Create an account

2) Download the installer that coincides with your system specs

3) Run the program and start mining !!

4) There's a 1% fee for using Minergate but if you want to get around the 1%, you'd have to set up the miner manually.  https://ethereum.stackexchange.com/questions/110/how-to-mine-ether-and-use-ethereum-on-windows
****
I will be setting up 2 RX 580s to mine by end of June to test things out along with my desktop/laptop. If it works out well, I will probably make a 6 x 480 rig afterwards unless there's developments in Ethereum where it wouldn't be profitable anymore.

Hey I get it that not everyone will be wanting to be building rigs, but for sure I know that alot of ya'll leave your PC's running 24/7 so running the minergate program while you AFK will at least give you some extra pocket $$/Coins/Tokens or a few cups of coffee!! Have fun !!

Disclaimer: Yes, the link to minergate has my affiliate code in it.  And no, it doesn't hurt your bottom line by clicking on it.

WEEKLY RECAP: May 15-19

Pros:
1)  Did NOT OVERTRADE

Cons:
1)  Applied WT Style scalp on Higher priced stocks = whipsawed back to VWAP.
---- Chased AMD on Tuesday, applied WT Style to IU Style stock
---- Chased NVDA on Thursday, applied WT Style to IU Style stock
---- Chased NVDA on Friday, applied WT Style to IU Style stock and now a bagholder !!!!
**** WT Style = Quick in and out, Make sure you're not extended on the 1min/5min/MA/VWAP
**** IU Style = Buy/Short based on VWAP

2)  Let other's analysis affect my trade
****I can keep the chat open to use the scanner/alerts but NOT to use other people's analysis.

3)  On Friday, I still oversized my position on the last FOMO NVDA trade.
**** Take the time to assess the trade prior to making the trade like I'm SUPPOSED TO !!!

4)  On Friday, I snowballed emotional trades one after the other.
**** Take the time in between trades to assess my emotional state like I'm supposed to.  It's much more controlled this week vs. last week but I'm still jumping from emotional trade to another.  I thought up of a system/having an emotional thermometer beside my monitor--but I still haven't implemented it yet.



This week was much more solid trades and didn't overtrade.  The biggest takeaway was realizing how to separate/distinguish which stocks I can use WT Style vs IU Style trading.

My main goal for every week for the next month NEEDS TO BE APPLYING the systems I've thought of this last month.  I've been good at learning from my mistakes and coming up ways to prevent them.  My problem is that i've been winging trading and haven't been applying the systems causing me to repeat the same mistakes from before.

MAIN GOALS every week til end of June:
1)  Risk Assessment and Pre-gaming/Picturing the trade mentally PRIOR to the trade.

2)  Emotional thermometer beside my monitor to remind me to assess how I am BEFORE/AFTER each trade.

3)  If I'm in a trade that I am not COMFORTABLE with.  GET OUT !!

4)  Don't MIX WT Style vs IU Style and Day Trades vs Swing Trades

TNXP, GLYC, NVDA

TNXP

I FUCKED UP, this is the 3rd time this happened now.  Ross Commenting on PTX where it blew through my stop loss when I adjusted it according to what Ross said.  I also went in JWN last week because of what Mike said without fully assessing the setup.

Ross said something about breaking 5 and I was looking at other charts.  Anyways, I swapped to TNXP and briefly looked at it and as soon as I clicked BUY, I KNEW i was wrong.  1min/5min candles and VWAP were waaaay too far, I should've gotten out immediately but gave it a few secs.  As soon as it was unable to reclaim 4.8, I knew that that momentum shifted even before the MACD confirmed the trend change and got out my loss before it spiraled out of control.  I ended up turning off Ross's Webinar so I can concentrate on the stocks i'm looking at.

*** One good thing though, I'm starting to stare less at the MACD and seeing more on just the Chart/Price Action/Tape.

Lesson Learned:  NEVER listen to anyone else's analysis.  I can keep the webinar on ONLY to have access to the Trade Ideas scanner and heads up on anything moving but NEVER to anyone else's analysis.

GLYC

I was pissed about TNXP yet I still didn't take a timeout/breather in between trades >_<.. Anyways, This was the stock I wanted to watch at the open and it sold off so I was waiting for a red to green move.

1st Trade - BUT since I was in the TNXP, I missed the buy as it was breaking VWAP and went FOMO on it at 13.11.  Fear kicked in and I locked in my gains since I knew I was chasing it at 13.11.  I sold it WAAAAY EARLY and this is the first time I've ever done that since usually my exits are on point.

2nd Trade - I shorted but I can't remember why, since I didn't assess my risk and set a stop, I got stopped out emotionally.  This would've been a really well timed short if only I stopped and assessed the trade and set a risk so that I wouldn't have gotten stopped out like an idiot.

3rd Trade - After I stopped out, a chain reaction of emotional trades spawned--I bought on emotion and instantly knew I was wrong after it dropped 60cents wiping out my gains from earlier. FML..

I KNEW that the momentum is dead and a good 1st profit target for a short was VWAP and possibly even lower since this was up so much for two days.  I tried to get filled  from 13.6 > 13 but couldn't get filled.

4th Trade - I gave up trying to get filled and started to get errors trying to cancel this order I had at 13.  It spiked to 13.2 and I restarted my platform.  When I relogged, the order got canceled but a few mins later it showed that I had 100shares short at 12.87 which was awkward since I didn't set a limit that low but whatever--the price was already below 12 and I was close to 100 green ;D.  It popped over 12 and I covered at 12.21.  It kept on going down but I'm not gonna complain about getting free money.

NVDA

Emotional trades one after the other.  I sold a small o/n long i had Pre-Market when it looked like it was having trouble at 136.50. I shouldn't have touched this at all.. Meddling my swing trade into daytrades ends up cutting my profits short.  And the opposite goes true, my daytrades turn into swing trades to make my losses go big.  Anyways, for SOME ODD REASON, I top-ticked bought it on HOD like an idiot thinking i'll scalp a bigcap stock... >> Fast forward: My last lesson on using WT Pro style on bigcap stocks.  I'm currently a bagholder like an idiot to teach myself a lesson.  This is exactly the same mistake I did yesterday.  FML !!

GLYC

GLYC

Warrior Trading Style vs Old Style Update

WarriorTrading Pro Style vs Old Style

My biggest con with the WT Style is that it leads me to mimic the b/o of candles/1min micropullbacks to the higher priced stocks/bigger cap companies which JUST DOESN'T WORK and indulges me to scalp/overtrade which at the moment snowballs into revenge/emotional trading.

My 2nd biggest con is that it works on smallcaps but there will be entries where it will just whipsaw you past your arbitrary stop loss point as shown during Ross's March/April troubles during a non-bull market.

This last 2-3weeks, I've been playing more higher priced stocks with market caps $10-$100+ Billion dollars.  I feel much more comfortable playing these except for the fact that it makes me feel like the money and time i've spent in WTPro has been useless for the moment.  I know in the long run, WTPro is worth it as the content really is worth it, it's just that the style is just not for me at the moment.  I will be applying it once we have a hot market like a sector play or the January effect again though.

On 10 May 2017, I had 100 shares NVDA with avg of $111.6 to start the day.

On 16 May 2017, NVDA Closed the day ~$137

Instead of gaining ~20%-37%, I only got 3-4% of it...

NASTY Lesson... Biggest opportunity cost was the fact I tried micromanage/scalp NVDA positions instead of just swinging it.

I'm still going to be trading the style as planned til end of July but with an even more restrictive set of parameters and no more 1min micropullback trades.