April 9 -$20.61 able to control my RR and lost




Watchlist
1)TRPX
2)VSTM
3)YNDX
4)FB
5)MU
6)ACAD
7)MRK


Today doesn't seems to be like a good day for quite a lot of traders. I was down amost $200 plus initially but able to trade the way back to -20


Strategy :
1) trade on up gap down after popping up
2) Short weak stock
3) Trade ABCD
4) Reversal for short squeeze


$ACAD


I wasn't paying attention to this stock in the morning until 12pm. My intuition tells me that it will fall lower based on the trend.( Failed engulfing pattern and stock trend slightly lower after that) I took the trade because Stochastic is showing bearish and might fall lower.
SL
I was trying to find a SL but not sure where is a good SL. Looking at it now, $16.50 might be a good SL since I shorted at $16.31. The target price is around low of the day which I set to cover at $16.05.  
RRR 
1.36  = 19 cents risk for 26 cents reward. Stock did go lower and i could potentially making more. 

 Note: I should work more on how to take better profit

$VSTM

First 2 min showing huge selling pressure signalling taking profit. I waited for the pull back and shorted at 3.3. I covered 1000 shares at 3.24 and got stopped out at 3.3. Stock did not go down below 3.16

SL
3.36 on the 1st minute low. Is this even good ?
TP
3.26 and 3.06 ultimately.

RRR 
1 = 6:6 
2.33= 6:14

Note:  Should have cover a higher shares like more than half. I am proud of myself for setting However, I should have move the SL lower after trading to take in more profit.

 $MU

I saw huge selling on first 3 min thinking the stop will go lower.On the pull back , I shorted but got stopped out. However for this trade, my emotion kicks in due to the fact that I shorted MU on swing and think it will go lower.
MU was strong and going higher but I let my emotion kick in a little for trying to cover the short.

 Average Cost
48.87
SL
49.15

 TP
49.5 

 RRR 
1.42 = 28:40 


NOTE: I let my emotional play in and i covered at 49.3. The RRR became 0.93.

Day note 

I think I have a good use of STO. Next thing to work on is have good SL and clear sense on the PT. Keep it up

Comments

Post a Comment

Popular posts from this blog

March 28 - From -$3000 to +$294.30 - Need to stop trading in first 5 mins

Image
Watchlist  $KBSF $FB $SHPG $CLWT $D Strategy : 1) trade on up gap up in the first few minutes 2) Trade ABCD $KBSF  Long +22.50 , Short +1292.91.  I have noticed this is a good pattern for me to trade. low float stock ORB 5 mins and 2nd entry when price couldn't make above VWAP. $CLWT Horrible entry.  Exited with more than 1k lost,  how can I let that happened? Short when it seems like going to make another high with ABCD pattern. Added a few K lost. Took short position when below VWAP and recover most of the lost NOTE: It's better to stop trading in the first few minutes. Next Day plan Day note 
Read more

LIVE -$202 Feeling nervous and couldn't trade properly

Image
WATCH LSIT $AA $HAS $AKRX $MDR Going live is harder than I thought especially when doing a wrong trade. I feel nervous and cant think properly Strategy : 1) trade on up gap down after popping up 2) Short weak stock 3) Trade ABCD 4) Reversal for short squeeze $CBI I traded on the first few minutes for a quick scalp. I saw it couldn't make a higher high and shorted it. I should have taken a bigger size. I know my stop loss is at $13.48 and targeting below the VWAP. Average Cost $13.39 SL $13.48 - couldn't make a new high TP 12.8 RRR   6.77 = 0.09:0.61 Note: Should have taken larger size in the future $SKX Chased the short and lost 33 on it. Went Long and it got reversed, Loose 100 on that side. Average Cost $29.59 SL $29.5- previous candle high TP 29.82 - VWAP RRR   2.55 = 0.09:0.23 Note: I thought of it as engulfing but it is not. $AA Failed reversal to VWAP. I shou...
Read more

-$400 bad horrible week. A good week to train myself to be a better trader

Image
Watchlist $NUE $VTVT It has been a horrible week for me. Have 2 big red day with more than -2000 lost. I have so much doubt myself. Well thank god, and I am still on sim account. I just applied for CME group and I am waiting for approval. It seems like Suretrader has a promotion too. Maybe I should have go with them since they have more shortable stocks? Strategy : 1) trade on up gap down after popping up 2) Short weak stock 3) Trade ABCD 4) Reversal for short squeeze $SIEN Dont have a good entry and exit That exit is horrible. I should have try to exit on a doji. Average Cost SL TP RRR   Note:  $VTVT Big lost on long and short due to wrong timing.I am not good at chasing the stock and I need to stop doing that but I do think I am very good at shorting. Note for improvement
Read more