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5 trades: 2 winnners, 1 scratch, 2 losers. Net +$57.
Great opportunity day, not much to show for it. Need to walk away with $200-300 on days like this.
Trade 1 Panic trade. You don't always get to get the 52-week high top tick, but if you are impatient, your time will come. Wait, even on trend days there are pull backs. Got spooked by the SPY/XLY running up quickly and VFC breaking above its channel.
Trade 2 Although that patience is tested when you are trying to get in on a limit order. I originally tried to get in when the market was $176.12/34. I chased it all the way up to $176.60 before finally getting in. I was trigger shy from the last trade. It amazes me how the last few trades can completely mess up the ones that follow it. I jumped on weakness here. Another risk because it was a trend day and I might not get back in in time.
Trade 3 Bought the pull back to the EMA21. I was focused on a multiday channel. Price was at the top and struggling to push through. I was lucky enough to get out of the last trade in time, so tried again here. It was a nice little 2.6R trade, but price went on for another 7R.
Trade 4 Hmmm I am now buying a complex pullback at the top of a $4 run up. I am a little manic at this point, as seen by my notes at 10:50 "big block trades on bid, moment of truth..." and 10:52 "asks are rising... Run!" From despair to euphoric hope in just 2 minutes. I took a bigger stop on this trade to give it room, ugh. Didn't lose more than planned, but in retrospect, risked too much.
Trade 5 I love looking for the short after a big run up. Stop it. I was mentally not my best today. Asks were floating outside my stop. I was resigned to just taking the slippage. Bad attitude. Got out at BE.
Earnings day. Good numbers but not as great as the run up in the stock yesterday suggested. Strong bear open.
Trade 1 I am looking for a channel to form. Take a short. I see two high volume bars pushing price down, but price is not going down as much as it was earlier in the day. I get a pull back to the channel. I get a fourth push lower since the open - none of them are that much lower than the prior. So I jump on stalled price. Pretty content with how this trade played out for 2.5R.
Trade 2 Price is bobbling along the bottom. I get long. Three pushes above the EMA21 fail to take hold. Wish I had gotten out at the second or third. Held for a small loss, -0.2R.
Trade 3 15 minutes later, price takes what I think will be one last swipe at the LOD. Go long. My stop is below LOD, but price goes lower. Right idea, but about 30 min too early.
Trade 4 For all my seraching for a bottom, I don't know why I play this test of a prior day level. I guess I thought becuase it was such a negative day, it couldn't totally rebound, could it? Yes, yes it can. Here conviction got the better of my. I acknowledge in my set up that the trade is counter trend, which means I should be impatient with my stop and I should definitely not be adding to a CT trade, but I did, convinced I saw a complex correction. Others saw it too and were trapped with me. Price went on 9R past my tap-out point. Ugh.
4 Trades: 1 winner, 1 scratch, 2 losers. Net -$76.
Trade 1 was an error. My price target had been set at a previous level of interest. When my trade was executed, it triggered automatically. Still weird that it takes 34 seconds to fill. You would think that would be more immediate. Lost $23.
Trade 2 So I get back in at 5 cents better, on the test of yesterday's high. Doesn't go anywhere. Get out for a small gain - to even the out the blunder of Trade 1.
Trade 3 After a lower high and another test of LOY, I thought the level might break. I go short. Taken out quickly.
Trade 4 Yet more lower highs, forming a triangle down. I get short again. LOY holds for 4th time. I scratch out.
Trade 5 LOY holds for 5th time, so I get long on the 6th test - only 100 shares b/c my losses are highish for the day. Breaks down into the close. Thanks Mr. Market. Thanks.
4 trades: 2 winners, 1 scratch, 1 loser. Net $136.
Trade 1 I got short after price pulled back to the upper bound of a bearish multi-day channel. Market was moving quickly, which I confused with directional bias. I should have been watching volume more closely. After the 30k bar printed around 8:03, I should have been more leery of breaking higher than that bar. In stead I waited until the HOY.
Trade 2 With a bottom well established and 3 swing lows behind me, I got long. I could have minded that multi-day channel again. Fear of missing out got me.
Trade 3 Once again my most recent trade totally biases my next trade. I get short to honor the multi-day bearish trend. Price action was okay, but no much penetration past the EMA21. Got skittish and bailed for a scratch.
Trade 4 With the bearish channel challenged I bought towards the low of the trading range price had been in. Got out near the top of that trading range. Ok trade.
Trade 1 Strong move up on the open. I was pretty patient with my entry. Trade started moving my way, so I took some risk off based on a recent swing low bar, but price pushed through it before continuing on in my trade. Originaly stop would have been honored. Don't know that I can do much about that. Fair trade otherwise. Would have been a 3-4R trade.
Trade 2 A bit of a panic trade. I was out, watching the market run. I decide to get in on a very shallow pullback. Just as the market breaks a recently steeper trend line. This was more forced error than the previous trade and unduly influenced be the previous trade.
Trade 1 Pretty weak trade in retrospect. Hard to justify - smack dab in the middle of a trading range. Triangle pretty visible with no apparent trend. Wow.
Trade 2 Even when I go back and read my notes I can't understand why I took these trades. Was at least a little closer to the trading range extreme on this one. Cant fish from the middle of the stream...
Mild upward trend day. Nothing too big, but a nice "easy" day. If you trade it right. I was late to getting my platform up, so didn't see the earlier set ups, but opened above HOY, and pushed past S/R from a prior day.
Trade 1 My first trade was just a little late. Stop triggered for me, even though no one in the market saw fit to transact there. Price went on without me.
Trade 2 I tried to recover the trend in the second trade just a few minutes later, but a trade error took me out before the trade even took off. Shut down for the day
Trade 2 Another trade error. Profit limit triggered automatically, not even a second in the trade. Paid the bid-ask. The position of the short was ok, intended short would not have been hit, chance for small profit.
Trade 2 Chased the entry on this on a little much. I trading range, nothing too special. I was hoping for a trend continuation. Three large volume bars suggested that I might be right, so I held my position. I was in it for 90 minutes. Should have scratched. Was up 2.5R at one point. Kind of silly.
Trade 1 Price pushed past the high of yesterday and came back to the EMA21. I grabbed an inside bid ask price just around the HOY. Looked like a decent pullback. Then it melted in 1 second. Surprisingly quick. It happens. Glad to be out.
Trade 2 Simple pullback to the EMA21. Then a high volume bar (32k) put a higher low and long tailed bar in front of me - a little unsettling, could be reversal with that strength. Exited at a small loss. Original stop would have been honored.
Trade 3 Poor entry motivated by missing out on the downward trend in the last trade. Coupled with a stop too tight - wasn't going to make it.