not humble enough!

Tried COIN. Got first part out, then it dissolved. 

BABA puts... still in that and not dropping with the market. In fact, no trend bgadol on the 60. This could be a shshow, tbd. Need 109 asap.

humble, nervous this morning

Feeling humble and nervous this morning. Counterbalance to recent overconfidence. 

Friday trading. I have a chance to do great ... or get burned. 

Looking at:

BBBY - meme stock. fading hard off early morning surge. What's the play? Maybe off the hourly levels. Or maybe inside bar and stay away.

MARA/COIN - gaps above bottom/downtrend patterns. This should be my best setup today. 

BABA/PDD/JD/BEKE - China exhaustion selling off huge 2-wk runups. Fade strength with caution.

NIO/XPEV/TSLA - fading, buzzing, but not really my setup.

Good to do this analysis. MARA running up 9:27. I hope I can catch it. Watch out for exuberance pricing in the option in the open. Wait for pb. Consider scaling in.

did not trade, example

KBH was my favorite setup premarket. I didn't trade it only because the options didn't open right away. Looking at the action I missed, I got lucky to be excluded from it. The opening drop wouldn't have paid and I probably would have eaten it hard on the reversal. BH I didn't get involved. Is there a lesson I can take? 

Maybe again, don't expect things to run on inside days. 

Maybe again, tight stop is the right stop. 

 

greed on inside bar = insanity!

Did I not remind myself this morning to avoid inside bars?! 

And then I grabbed GME and screwed around with it on an inside day? Passed on several stops that could have kept me green = greed/insanity.

I deserved that loss, and it was a big one, giving me a red day.

JD was the first trade of the day, though. That also went hard against me at the open. JD was not an inside bar, but THE MARKET was inside. 

On an inside day, repeat to myself over and over... don't expect this to trend... the bar is inside.

I was down big in JD at a certain point, but on average got out ok. Flushed it away on GME.

morning prompts

Reminders to myself this morning:

Just say no to nms (not my setup)

Just say no to inside day bars

Thursday... stay chill, don't get cute

behaviors to notice, not just greed

Today a red day, ending an 8 day win streak. Today I lost less than 1%, after having been up 5%. Regrettable, but not bad. I was pushing for market reverse down day today. Pushed too hard. Pushing too hard I recognize is a sign of overconfidence. It backfires. Need to always trade clockwork and don't get too cute. Pushing for more than my piece is a red flag.

$STUDY: in counter-trend trading, don't push. Take what I get. 

It's pretty arrogant to think that a strong market will suddenly fall apart. Take what I get.

Psychology: I was feeling super-confident and doing some behaviors that I recognize as over-confidence. Ex: reading too many trading posts, watching too many trading videos, something I call "counting my money". For some reason I've noticed that when I do these slightly "obsessive" behaviors usually in context of a win streak, it's an over-confidence indicator about myself and I'm about to fall on my face. I even said to myself this morning "this is how I act when I usually break the streak." But I didn't do enough to stop myself.

Opening trade on GME, I let 30% turn into 9% bc greed. 

Second trade on GME, counter-trend, I didn't take a reduced stop bc the p/l wasn't good enough = greed.

AMD, traded around that one all morning (on nms?!!), hoping for destruction that didn't come (of course!). Got a price target but not a p/l target on partial, then didn't tighten down when I got another chance.

Note to self: I can't just trade whatever I want. I need to trade MY setups. That's how I make MY money. Clockwork.

taking stops

Learning my own lessons, today on my last trade (second time in UPST), I thought it would be more juicy. Tried to hang in, but it didn't break day low and I had to take the stop. I tried placing a lower stop, but it ran past before I could get the order entered. Had to stop higher(worse). Get what you get. 

On the first UPST trade, though, did nicely. 

MARA, bread and butter trade.

PDD... shouldn't have been in that. Inside bar. Tried to get on the china stocks bandwagon. That was a waste. It doesn't matter that it did go up. It was not my setup while it was still an inside bar. When I trade nms, I can't expect my usual techniques to work! 

8 green days in a row. Tremendous gains. 

How can I stay in this zone? 

Stick with clockwork. 

peace

Market has been outrageously strong for 3 days. Today, SPY bumping 200dma and QQQ bumping 50s. What to trade? First of all, be careful! Careful means small, slow, wait.

BA can move. Today it looked weak, below mini uptrend fin and below fastest ma's. Took a normal position, then added for oversize. It didn't feel like I was going to get my pl target bc price support on premkt, so I took a price target (181.13), then squeezed the stop. 12% avg on oversized position not too shabby. BA dropped when the market rose in the open. But when the market started dropping, BA didn't give out. Time to tighten.

SHEL daily downtrend has been on my radar. Today volume gap above some of the various dt lines. BA had my full attention for a while, but when I saw a decent pb and bounce I tried it for ndh. The option was monthly for April so didn't move too well, but I got 20% anyway on more than half bc unattended. Exited on raised stop. 

Can't complain!