Friday, January 3, 2020

Musing about stock drama

What I'm looking to trade is a 1 minute surge. Drama!
I want to be in and out fast, and within the opening ~30 minutes of trade. So I'm looking for stocks that are going to make a profit-worthy surge out of the open.
Which stocks might move like that?
Something with a catalyst. This is showing that there is a "rationale" that people are reacting to.
Something opening out of a range. This is showing that something significantly different is happening. These stocks might dump quickly. I can't jump on those trains. I need a rational pivot. Or pass.
What constitutes a pivot? If the stock gaps down, I want to see a temporary move up. Not just dump. I want to see the shorts cover, then buying exhaust, then I'm in for the renewed selling.
Opposite for gap up. I want to see temporary move down. Not moon launch. I want profit takers to get out, selling exhausts. Then I'm in with new buyers.
What constitutes "drama"?
Today I thought the market gapping down against/below strong bull bar was sufficient drama. But yesterday's strong bull bar was all time high. So maybe gap down below all time high isn't sufficiently scary for drama.



GS 2 trades for net +8% (based on p/l)

TRADE 1: -2%
Trade my best setups or PASS.
WAIT for pivots to stop against.
Take MY PIECE. Peace.

Daily setup:Entry/play: gap against bull bar, back into base
Management: waited for tradable pivot, entered arguably too early, could have waited for a cent or two below signal bar.
Psychology: OK. I think I should have taken half off when it stalled at ndl, or squeezed more on half... in retrospect. But, glad I was trailing my stop. Not to trail it would have been HOPE, and I don't trade on hope anymore. Just system, even if the system has nuance.


TRADE 2: +12% on luck
Trade my best setups or PASS.
WAIT for pivots to stop against.
Take MY PIECE. Peace.

Daily setup: gap against bull bar, back into base
Entry/play: after getting stopped out, it gave a bear candle, so I tried to go short again against that bar. But I took calls instead.
Management: Tight AF stop. Above vwap squeezed on half. Trailed up other half.
Psychology: Frustrating. On one hand, frustrating to take the calls when I meant for puts. On the other hand, I was blessed to make money on that instead of what would have been a big loser. Thankful for luck here.




NVDA -38%

Trade my best setups or PASS.
WAIT for pivots to stop against.
Take MY PIECE. Peace.

Daily setup: gap below bull bar. Relative weak day yesterday (market new ath). Overall, not my best setup, in that it never left the base yesterday, and gap down was still within noise area.
Entry/play: short after pb... top tail at premarket resistance for pivot. Should have waited 2c more to get below signal bar, would have kept me out of this trade.
Management: stop above signal bar
Psychology: ok. followed my plan. Small position so big %loss was not big $loss.



Thursday, January 2, 2020

AMD +19%. Peace.

Daily setup: 123, gap.
Entry/play: waited for pivot
Management: Stop below pivot. P/L target, and squeeze stop.
Psychology: Terrific! Great start to the year. Healthy trade, green right away, straight to target, then held my gains.
After I sold, it dropped below most of the stops I had along the way, but then it went bonkers. That is not a regret. I got MY PIECE. If I had extra money, I see where I could have re-entered, but I never should have tried to hold. I did it exactly right for me. Good form. Healthy psychology. PEACE.



Happy New Year 2020

This year my trading vision will be 2020. Cliche of the year, but it is my goal.
I want this to be the year that I solidify my skills into a top profiting trading year, using good form and healthy psychology.

How?
Trade my best setups or PASS. (good form)
WAIT for pivots to stop against. (good form)
Take MY PIECE. Peace. (healthy psychology)


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