+6% but coulda shoulda

 Opening NVDA trade had some size and a good gain. Should have quit. XPEV, gave back half those gains.

SSE shows the chop better. How can I avoid these? I think I would either take puts at the top of the range, or on the pop/drop, instead of trying to get the breakdown. BUT... why was this a choppy setup? It gapped into no man's land on a strong down market day. It "should have" flushed, so if it doesn't, that implies there is some strength there. Expanding range, price discovery. AVOID.

No great picks. +8%

No great picks today, need to go small if at all then hit and run.

BA continuation gap down. Market selling off. PL target roughly around technical price target. Banked it.

MU hoped for continue above ugly pennant. Nice 1min hammer around gap fill... failed, as did market bounce attempt.

LCID looking for bounce attempt. I like my entry off the bottom attempt. When it couldn't push through day high/premkt level, I yanked half. Other half stopped by a few pennies. Maybe I would have gotten a target on the push through (but by 1-2 cents maybe not), but still would have gotten burned on the pop&drop.

Friday f* -2%

Jumped into LUV too early. Had to sweat first and then yanked on fear.

PTON waited too long, gave too much room, trade went net green to red.

Holding one single lotto put on PTON to maybe green my day.

What I did well: 

Passed (properly) on ORCL, but that doesn't pay the bills.

Didn't open a new trade / new exposure while LUV was in the dumps.

(pton update)

Quick 9%

CVS was the best setup of the day. I'm glad I took it fast bc it failed as quickly as it ran up.

GME and IONQ setups weren't as great. Maybe more wishful thinking. I took each at half size, but lost on both.

LCID, OMG

 Fill details later

PLUG, ill advised add

Not a lot of good looking setups at the open today. I had my eye on PLUG, but it really flushed in the open. I stayed clear of that, but when it stabilized near my level I got it for a move back up. Then I got greedy.

Maybe I should look at a day where there's not a lot of setups and think: hey... today's not a day to push... there's not a lot setting up.

Instead, I tried to squeeze money out of nothing. 

Greed: I had a good setup. I got my p/l target--though I only took off 1/3 (greed) and moved up my stop. But instead of riding it out, I tried to get really cute and reload on the pullback (greed). When it stopped, the loss overwhelmed my initial gain for a net red trade. As regrettable as that is, I don't regret taking the stop, because it got worse and worse from there.

Was this trade "clockwork"? I'm going to say B-. I did wait for an entry. I got the pl target but should have taken more off at the target. I shouldn't have added. I did well to take my stop. Some days these tactics pay off, but today was not a day to try to push.

stellar day!

Stellar day today, but it started off with a scare. I started into TSLA puts too early (overeager!!), but added really well at the top and got both parts off green. Big lesson is about the front half, which I was lucky to get off green. Should have taken the stop! But on the other hand, if I'm going to try to "be early", it's good to start small so I have time/cushion to be wrong for a while. Thank G-d for Monday, bc on a Thurs/Fri I wouldn't have gotten so lucky with the exits.

After TSLA, I checked back with XPEV which was my #2 pick for today (after RRC, which I didn't trade). I saw a signal that I really like on the 1 min, a hammer off the bottom and big green bar coming in with volume. I loaded in, and got a huge ride!! Why did I trade it so scared on the way up that strong-af surge? The market was trading strong down at the same time. I shaved off bits to keep myself comfortable. Should I allow myself to be more uncomfortable? 

LEARN: How can I let a trade like TSLA (front half) go against me and not be scared, but when XPEV does similar move, that I did anticipate ("makes sense"), I'm a coward? XPEV continues to be insanely strong. Same happened w CLF on Friday. I left a lot on the table. Even though... nice trade/both. My conclusion is that I traded TSLA wrong by holding that front half so long against me. But I traded XPEV, CLF(friday) just fine. I got 1/3 of my position off above +90%. I can't complain!!

I tried AUPH calls for continued strength. I like my entry, but the option didn't move when the stock did. The trendline broke, and the ask went up, but the bids didn't go up. That's showing me lack of demand. I moved up my stop and managed to get out green. After that, it continued flat/down and I don't mind at all not sitting in it.

comeback

CLF was my #1 pick this morning. I got over eager and ate the first trade hard. Of course now it looks like I should have just held on for the reversal, but I must be strict about my stops so a slap doesn't turn into a wallop. -52% hurt! But I tried again when I saw it bounced. I went in to second try initially smaller for caution, but added (to oversize) on confirmation. It was a huge relief to get the first half off for pl tgt, but that first gain still left me with a red account and a slightly uncomfortably big position. Yanked some more off at increments and then yanked at a final stop. 

...and then watched it run away train through several resistance levels even as the market was downtrend. I got my piece, back into green, and must be at peace with that. Can't hold beyond my rules because that's a recipe for disaster. 

Had a little money left and tried for AXP blue sky breakout. Contrary to CLF, opening weakness didn't followthrough. It barely survived my stop before giving pltgt by the skin of the teeth, then dropped back out and I ate the spread. 

Squandering gains

Terrific opening trade on BABA. 9:32, gains looking really good. 

And then AFRM took off and I chased -- not my setup! I've had some great trades on AFRM, but I'm not sure on net if I've made more than I've lost on all the AFRM trades. It's not even really setting up for me, I'm just stabbing because it's moving. That's not clockwork.  I need to lay off AFRM for a while. Only trade my best setups. 

My trades played out by 9:32? So what? That's not a reason to keep stabbing around...a lesson I learned again today by giving back gains. On the chart, it looks like I sold higher, but it was a loss bc I ate the spread. 

Hit and run!

I don't like how I've been sticking around and overtrading lately. Today's goal, hit and run. Wait for my very best setup, pile in, give it zero room.

Today I picked Z. Waited for the volatility to settle out and got a good entry for a downdraft. BH. Got really nice pl 20% target. Then market turned back up strong so I tightened down and go the rest off decent gains and most of all, without much sweat.

Now...is this the hardest part of the day?... walk away! If it continues down without me, that's not my trade, that's not my money. I got my piece. PEACE!

Accepting losses

 Accepting losses is one of my biggest struggles as a trader. I'm sure I'm not alone. Especially green-to-red lossses. Trading smaller is a good remedy, but then I also need to STOP trading. 3 losses in the same day is a sign that I'm not keyed in, or they climate is not right for my system. No reason to chase. Just take the rest of the day off!

Has it been a while?

Back to the habit of trade review blogging.

After a prolonged and wonderful uptrend, we're now pulling back. Daily stochastics finally ran all the way oversold, first time in weeks/months. IBD is listing the market in correction. SPY pb has been 5%. What comes next? We'll only know when it happens!

Today was Columbus/Indigenous People day. Pay attention for cash accounts. It's a market day, but not a clearing day. Needed to keep powder dry (Friday), to have money to trade with today.

Traded OXY calls, green. PDD calls, green. NVDA puts, flat. AFRM calls, green. All trades small and extremely cautious. This market has been a B*ch and I "get what I get and don't get upset." Lately it's 1/4-1/3 off for 10%. Middle half/third off for 20%. Then trail stop on last bit....and the last bit seldom does anything dramatic. 

Reversals are everywhere. Need to trade small. Scrape out those gains. Tight stop is the right stop. 

Small frustrating days

It has been several days since I posted. I haven't done much but churn my account. Up and down 1-2%. 

It's frustrating! And I've taken to trading even smaller because it feels like nothing's working. 

Zigs, no zags

It has been a supremely frustrating week. I am red for the week, despite a great up day today. 

Mantra today was: zigs, no zags. Picky picks. I traded today's expiration, waited for entries and gave zero tolerance. Took 10, 15, 20% targets. And probably also got lucky!

Gotta go. Shabbat shalom

head fake

 Another fing hard day in the market. Inside yesterday markets.

Trade of the day was headfake for a short then riiiiiiipppp!

I lost on all 3. Red day for me.

Market prep pays off

Today's goal: Focus on really good trades. Not sloppy stuff. Get in, get out, walk away.

I moved 75% of my cash out. I'm trading baby size this morning. I want to turn the ship quickly back on course and keep working on strong recovery from the June massacre.

****

I did great today!! +10% on employed capital. Ba-BAM. Felt great. Remember this feeling of trading well! On days I hack around, it doesn't click like this. If it's not clicking, I need to step away... even just for a little while.

PLUG was trade of the day. JMIA for breakeven. And I followed Meir into MRNA puts which I instantly regretted (sloppy!!). As soon as I was breakeven I took off half and squeezed stop. He held it and raked it in, but I was glad to close the exposure after that first utter heart attack. Too choppy, too spready, to scary!

After this satisfying open, I decided to paper trade against fomo. What a good decision. I would have lost more and risked tilting. Must avoid tilting!

Arrogance bites

Got bitten by arrogance today. Known scenario. Win streak, big gains... think I'm invincible (arrogance!) so I go bigger. And lose. Because it's not clockwork. 

Hacked around in AAPL and COIN for close to max day loss. I wish I didn't let it go that far, but that's what max day loss is there for.

Only win was second try at COIN. 

Talking with my trading buddy about losing days:

On days when I'm up, I find it very easy to look at my picks and say, OK, what I thought would happen has played out or expired. So I'm done. 

Why do I find it more difficult to see my picks aren't working, that I've lost money trying, and to draw the conclusion: These picks were a bust, they didn't behave as I hoped. So I'm done. Maybe I need another mantra of clockwork trading to remind myself to notice and walk away from a busted day. 

Tomorrow, don't stray from success. Just stay the course of clockwork. That's why I made the mission control sign! To remember the keys to consistently profitable trading...

Small size

Tight stop is the right stop

Pay yourself first

About profit goals

Account is up 26% week over week! Ba-BAM!

At the beginning of the week, I set a very ambitious p/l goal. By Tuesday afternoon I scrapped it bc I was not on pace and I saw that pressing for it was not doing me any good. And yet... I came out this week very close to that goal. I'm thrilled!! 

I'm on a 7-day win streak. My stats recently are amazing, but I have not yet recovered from the June account massacre. What a waste! I must keep check on overconfidence. 

Let this be a LESSON! 

I am not smarter than the market. 

I won't get it back in one trade. 

Don't rely on disproportionate gains to "save" me. 

STOP when losses are small.

I need to trade like clockwork. Clockwork works! 

When I'm out of my mind or even when the market climate is just not conducive to my style, if I'm losing and not gaining, I must go smaller to regroup. 

Today was a "up is down and down is up" day, but I saw it coming!! Gaps up were into resistance, so I shorted. Gap down was not behaving right, so I passed. 

But the real money today was MRNA puts. The trade was craaazzyyy (very choppy trade and outrageous option spread) but I managed to get a piece and not get burned. After that, only thing to do is walk away and chill!

No charts. Have to go cook. Shabbat shalom!

Gaps up failing (as of ~10:30)...

Gift horse

Up 2% day and I'm frustrated. I over traded for naught (naught! it's +2%, what lack of gratitude). 

Saving merit of my behavior, I kept it all small and rational. Just bummed to not have made more.

Biggest gainers on DDOG calls in the opening session, AMD puts a few times. NVDA calls for a sizable loss. 

No charts today.

I'm going out to play in the nice weather with my gift horse 😉

Spread, heart attack, gain. Peace!

Great day. Big spreads everywhere (not fun to trade big spreads). Took proper stops.

Looking at trade review, It was "up is down/down is up" in that ATVI didn't play out for a long and CVS didn't play out for a short. Good for me, I kept to my stops, didn't hack around. I took my losses and turned my attention elsewhere.

ATVI was on long list, but when it failed, I looked to short. Not my best setup. I missed the optimal entry, tried for the next push. Managed to get my partial at bottom tick and stopped the rest. Great example of:

-what partials are good for

-tight stop is the right stop

CVS, just the opposite. Was on my short list, but was not weak. Gotta take those stops. This was a pretty big loser bc spread, but I think I traded ok. Mama said there'd be trades like this... :)

NVAX beau-teee-fullll! First trade I took advantage of the opening move. Started small and took my targets and stops. Then a great pennant developed and I traded for the breakout. Spreads were $2-3 on $13-20 option. I would rather get some targets than leave it all to stops. I missed the top, but I got the zig. Peace!!

MRNA crazy redemption

I was sure I was going to end down today. NVDA whacked me again. AAPL flushed me out. Ate a big loss on BILI. And then came MRNA, which went practically straight up... Exactly what I needed for redemption. 

Against better wisdom, I loaded the boat. I skimmed off bit by bit, until finally I closed up on the day. 

I know this is not healthy for my trading... to pile in and have it work. Most of the time, piling in will wipe me out. A trade like this is a negative lesson--I profited (mightily!) from very bad behavior. 

I don't know how trading can exhaust me some days. Maybe it's all the focus and emotions.

I'm glad I have a new standing desk so I can fidget my way through it.

I've ditched pressing for a big trading number this week. I'm not on pace for it at this point, and I've changed my mind about trading that aggressively. I got lucky on MRNA today, but I shouldn't be counting on luck.

Can't show just my winners, so here's BILI, in which I added to a loser and I held way way way too long. Why mess up my pl like that? "Bad trade that works" (like MRNA today) create the habit of getting too cute, when usually it turns out "bad trade that slaps me" like it should.

turned big gains into small

I traded bigger size today. I want to press for a big green week. As a result, my same techniques had me at a very nice gain at one point. And my same techniques, amplified by size, got me out for just small gains. Going big cuts both ways like that! Still, green is green. I'll take it. 

Vacation week, mostly

We had a beautiful week with extended family. I didn't bring my computer, because I didn't want to be tempted to trade (and ruin my vacation). And then like a jerk, I did a trade on my phone. So I came home Thursday red on the week...of course...this is exactly why phone trading is forbidden!

Today, how to trade a Friday? Fridays burn, as I well know. But it's my only day to make up the loss. Requires shrewd careful trading. First batch of trades was net loss. Next batch was better.

I was watching NVDA for a "2-down" after it failed the breakout yesterday. No go on the first and second try. Third trade completely fubar, but managed to get a really big chunk off for +84% thanks to an accidental add at the top and later a rinse for unknown reason.

I passed on AMZN bc cost and spread. No real regrets there. It had a huge gap down, but then a pretty small range day. 

PINS was also a good looking short setup, I lost on the first one. Tried again later for green, but didn't cover the loss.

MRNA, pure beauty. Caught such a surge, didn't want to give it any room.

Green week, surprisingly

How I managed to pull a green week, I do not know! Ok, I know. I had to do some really sharp trading after I train wrecked on Wednesday. 

I learned an interesting lesson though. I had been toodling along with my 11 day win streak until I got so over-confident that I increased my size Wednesday. Have I not learned this before? This is the actual opposite of clockwork trading. 

When I'm in too big, I trade scared and lose money. Fact.

So I got back to humble clockwork trading and ... with the help of idk what's going on with this crazy strong market, and of course the help of shemayim ... I made a comeback for a green week. 

Why do I ever stray from clockwork trading?

Never stray from clockwork trading!

No time for all the charts today, but I do want to highlight one in particular. I sometimes get clunked like this... CCIV traded to my pltgt. Someone's put filled there, but not mine, and then hard reversal. I held bc ego! and went out for a loss. Why couldn't I just lower my target by 1% and go ahead and get filled. For the matter of a few dollars to "my target" (arrogance), I took a hard loss instead of what might have been net breakeven or better.

Next week, off. (maybe Friday)

a blur

Today's trading day seems like a blur. The indexes did an expanding range. Chop and reversals. 

Tremendous trades on TSLA and NVDA to make my day. Big loser on MRNA took a chunk out (might need to blacklist this one for a while, until daily setup). TXN was a promising setup that didn't play out in "my" way. COIN was a decent setup on the intraday chart, but didn't sustain for gains.

Too cute. Got slapped

Max day loss. Ugh. I tried to get too cute and dumped a bunch of losses on TSLA today. Not even my setup! I should never have been in it in the first place.  NOT AT ALL. Instead I hacked around, got hacked up. Guessed. Piled in. Tilted. Losing day, all the fatal flaws. Am I a newborn baby trader that has never learned a lesson before? 

Impulse control! Must protect psychological capital, and of course to protect my account capital.

REMEMBER
I trade opening momentum, gaps out of bases on volume.
My system is a solidly profitable system. Clockwork:
Small size
Tight stop is the right stop
Pay myself first

That's it! That's what I do best. If there are no setups I shouldn't trade. 

Here's what I usually get burned on:
Trying to pick tops and bottoms. I am not a reversal trader.
Experimenting with other gurus. I have a good system. If I want to experiment, it must be incredibly small size.

Today I had a few good picks. They didn't play out as smoothly as I would have liked. Introspecting on that, the RIOT and JKS trades should have slowed me down. They "worked" but not in my usual way. That's a clue that it's not my kind of day. 

Instead of stabbing around... just wait!

After past 2 days drop and reverse, I should expect some chop. Some consolidation. Let the market chill and decide. 

looking good.

 PTON both ways for basically flat. NVAX calls great. NFLX puts eh. Most of all, another green day B"H!

And now, later in the day, I did it right. NVAX and NFLX would have totally creamed me on reversals.

Lesson, and never forget: get my piece and peace.

Tough green day

Big gap down open this Monday morning. SPY and QQQ held some levels here, as of lunchtime. 

All my trades today went kind of ugly against me before they went for me, so I shifted gears to 20, 10 and even 5% gains... get green and get out.

Midday, ZM looked like a good short, 5 min tl breakdown. But that pos is really wide spread. When it didn't break day lows, I "cut gains" and got out. 

No fomo today. Glad for what I got, and glad to keep my head on straight.

what's next?

 SPY hanging on to 50mas, but QQQ hovering in midair. Actually, support at 30ma, which I don't usually follow, but would show "strength" to bounce at the 30 vs 50... if these things hold and bounce here.