Must prepare for, and build in line with, plan to scale trading when for when the time comes. What are the names I’ll be able to scale up into; that have the liquidity to accommodate my trading style at scale. What are the stocks with the most liquid option volume,…
Month: May 2022
Trade Journal | 5.20.2022 | Fri. | $10.17
This day could have gone south quickly, and some of the habits I exhibited today could have served to bury me in a deeper hole. My thesis for each play was correct almost across the board, but I took some early losses on SPY. If you’re going to trade like…
Charting Journal | 5.20.2022 | Friday
Need to chart more carefully and must budget more time to do so before market open. Must chart with lines, not just glancing at daily charts and assuming patterns. A day may come where I’m proficient enough to pull that off, but it’s not here yet. Be thorough in your…
Trade Journal | 5.19.202 | Thu. | $.05
Not terrible, but only because I’m flat. I took some unnecessary risks & trades, especially at the end of the session, all just trying to get flat. They were small but this is a bad habit to get into. Overall the performance was decent in that I made a plan…
Game Plan | 5.19.2022 | Thursday
Communication Services VZ | seems to be forming ascending wedge within what could be massive bear flag. Lower priced stock, but below 48.8 looks to be room to at least 48.4 and what’s more, not a ton of price action between the two to serve as support. If hold below…
Charting Journal | 5.19.2022 | Thursday
Massive selloff yesterday. Did not trade, was excessively tired. Don’t harbor too much regret. You made the right choice for posterity & habit building. Everything dumping, across all sectors. As far as patterns go, /ES followed through with the prediction of the wedge pattern, though it exhibited a disturbing break…
Trade Journal | 5.16.2022 | Mon. | $4.99
Once again, this is a scalpers market & you’re finding success only in scalps. When you leave ‘runners’ on & give room, even when it’s small size, you almost invariably get stopped out for your loss. As was the case today with SPY. Embrace your time frame and take your…
Game Plan | 5.16.2022 | Monday
Consumer Staples BABA | Bull flag on hourly from Friday & looks to be exhibiting premarket strength. could see a pop up, beweare level at 89.5, but if this can hold then likely can push to 91. If bull flag pattern plays out should easily surpass 91. Stop should be…
Charting Journal | 5.16.2022 | Monday
Seems to be a broadening formation manifesting on /ES hourly, nearing what would be close to textbook completion with 5 touch points between descending trendline & top line. Meaningful break above 4050 would likely invalidate this. The market seems to be teasing a ‘bottom’ from the selloff last week, but…
Trade Journal | 5.13.2022 | Fri. | $4.96
Better performance today. Stepping away now, trying to learn from mistakes of yesterday. Tempted to step back in, still looks like there are some moves to capitalize on, particularly on good call I made on MRK. But I want to end the day green, and not only green, but having…
Game Plan | 5.13.2022 | Friday
Consumer staples WMT | Channeling on the daily, currently in between channels with some levels to trade around. Consider trading reversal of channel lines or wait for break out of channel if it manifests with meaningful activity Utilities NEE | Could be falling wedge. Significant Daily level at 70 coinciding…
Charting Journal | 5.13.022 | Friday
Seems a bulk of the sectors had a hold & bit of a rebound yesterday, a reprieve from the onslaught of selling over the course of the week. If this reversal remains to be seen. ?ES has surpassed daily 3950 level premarket, which seems like an exhibition of continued strength.…
Trade Journal | 5.12.2022 | Thu. | -$3.18
My analysis was correct on SPY but I didn’t have conviction & I made the—what can be in some cases, but wasn’t today—fatal mistake of trying to make back loses, & trading around in chop, which I could have and did identify as such. I was flat at multiple points…
Charting Journal | 5.12.2022 | Thursday
Wow, everything is dying again. We’re nearly in Bear Market territory, if not already, in the S&P. This will be my first Bear Market. /ES is deliberating around 3900 premarket. Utilities (XLU) & Energy (XLE) Seem to be the only sectors that didn’t exhibit complete weakness yesterday, with Utilities being…
Trade Journal | 5.11.2022 | Wed. | $7.04
Green for the day, need to take profits quickly. Holding out for expectation of moves may pay off in big ways on some trades, but this is not my style, nor something I feel comfortable with. I’m willing to relinquish the chance at capitalizing on massive moves for the higher…
Charting Journal | 5.11.2022 | Wednesday
Everything is dying. Significant selloff premarket in spy through all activity of day prior. /ES is at level below which I’ve not charted ($3960). Is this the market mind pricing in something beyond interest rates? Is war going to escalate? The market seems to have prescience collectively over these sorts…
Charting Journal | 5.10.2022 | Tuesday
God DAMNIT Real estate dropped EXACTLY as I’d predicted, the bear flag manifested to the T & I was gone for it. I didn’t trade for fear of being too tired. I went to sleep on time, around 8:30, but woke in the middle of the night, and couldn’t fall…
Trade Journal | 5.10.2022 | Tue. | $0.44
Did well enough by breaking even, but could have had more conviction in SPY play. Must employ levels for stop losses and be willing to stomach fluctuations. It’s a good trade if there’s a good level above entry to place a stop. You had one yesterday but did not hold,…
Charting Journal | 5.7.2022 | Saturday
Out of the market last week. Had trip to Denver. First day back happened to be the 1 year anniversary/birthday of Solace Cloud. Seems to have been a considerable red week by the end, with a massive reprieve sometime in the middle of the week, teasing the hope of a…