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


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 should revised a strategy for reversal trade. I should use Fibonacci number but it's going to take too much time to draw. For future, If i trade reversal after confirmation, i should set my SL at average cost 

 Average Cost $53.42
SL
$53.17 previous candle high
TP
53.69 - VWAP
RRR 
1.08= 0.25:0.27



Note: I shouldn't take the position since RR is less than 1.5
Note for improvement

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

-$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