I woke up late today. Felt mentally good but physically tired. Did not even look at the market until 7 AM.
For $GTH, I had a plan (short): Stop: 12.99 Entry: 11.99 Profit Target: 11.58
On the 30 minute chart, the stock was above value and the histogram was going down. The stock went up a bit and I did NOT follow my plan. I took the trade out early. Will update in regards to what happens to this stock.
CONTROL YOUR EMOTIONS….
Bad trade, pressed the hotkey and bought 4300 shares, instead of 100…
The trend is upwards on the daily, weekly and hourly. Hourly Force index is at 0. It is above the 13 and 26 EMA’s, will be expecting a pull back to 113 area, will keep the $1.00 stop loss and move from there.
Plan is use hotkeys, get in using 5 shares each hotkey. This will reduce my risk in case I get a bad entry, which I am prone to do.
Also important to note that this is the 3rd day of the uptrend. Due to it being Monday, it is worth it to not trade in the first minute, unless the stock sky rockets, in which, SCALP if anything, but best case don’t do nothing and stand aside.
This way I can get a proper entry and hold for a few days… Today is Monday after all. With proper trade management, perhaps we see 5-10 R ($ increase per share over the coming days).
$AAL
Weekly trend is up, but seeing a return to normal in the Histogram. Force Index 0. Trend direction = Up, but low power. Volume is there.
On the daily chart, we can see that, in the circled bars, the price moved lower, the MAC-D Histogram hit a peak low, then started sloping upwards, and notice the most important thing… The Force Index… When the price hit LOWER… The force index did not respond as enthusiastically. This means that on the daily chart, on the date 9/24, there was Bullish Divergence… Trading will be LONG.
On the daily, the candlestick is red, so we will have to wait to see a bottom, and a confirmation of a daily trend reversal to get in with minimal risk. The daily candlestick is currently underneath the 26 EMA but has broken it pre-market:
My suspicions are confirm in the hourly chart. Here we can see that the MAC-D Histogram is beginning to lessen in peaks (though we are still in pre-market, 30 minutes until open). The slope of the MACD line is starting to slope downwards as well, and the price is pretty far above the 13 and 26 EMA’s. This means we must wait for a nice pull back ON THE HOURLY, wait for the force index to go into the negative, show us some indication, such as a bullish divergence + MAC-D Histogram beginning to slope up from the negative, underneath the 13 or 26 EMA. This would be ideal.
Entry: $12.58 (right around 13 EMA on Hourly) Stop: $12.28 (prior close) Target: $13.18 (2R) Shares: 66.6
Using hotkeys I will be using lots of 15. Thus, 15, 30, 45, 60 shares is what I will be aiming for once the stock drops and shows signs of bullishness on the hourly.
10 PM: Did not follow any of the two trade ideas I had for $AAPL or $AAL… Instead I got distracted by a different stock, and did not do the triple screen check, and just mindlessly traded and added to a losing position… Averaged down and got out for $1262, but this is something that doesn’t even matter. The trades were just horrible, take a look:
… The first couple red triangles is where I should have gotten ALL OUT… Instead I held and added to average down. Retarded. Why did I go long when the Force index + Mac-d histogram were telling me to go short? Because I had only looked at the 1 minute chart and nothing else… Classic amateur behavior.
$AAPL trade would NOT have worked out (dropped in the morning) $AAL trade would have worked. Bounced off 13 EMA, and force index was below 0 (buying opportunity). No bullish divergence on the hourly, though:
Today around 5 PM I walked into the living room and my dad was playing a video which used the main song from the Bollywood film Don (2006). That film released 5090 days ago:
Problem 1: I started shorting AS THE STOCK WAS GOING UP… MAJOR FACEPALM. At the height, though, the stock became unavailable to short. I was shorting early.
Take a look at where I was shorting aggressively, compared to where I SHOULD have shorted aggressively. The reason for this is because of the Bearish Divergence in the 2 day Force Index.
Update 2: Randomly clicked buttons with no plan and lost $40. What the fuck.
Original:
Today I woke up late… At 7:20 AM… Feels bad. Sized down when I got to work laptop.
My last trades were kind of stupid. As soon as the price going my way, I started selling shares… This is a constant problem. I don’t hold winners long enough but I will hold a position which is break even or even down. Retarded; must change.
Take a look. I sold just as it started to sky rocket lol:
The problem with my first couple trades was that I was trading against the tide. I should’ve been only Short (due to the 30 minute chart). Notice how fast I started selling my shares…. lots lots lots of room to hold the stock…
Started off the day very bad, down $90. The mistake I made was that I didn’t do the triple screen check before hopping into a trade. After getting into the trade I checked and lo and behold I had bought against the tide (short). I was buying where I should have been shorting. This was clear from the 30 minute chart.
After realizing my mistake, I got out of first initial large red trade by selling in portions on the ask… I was able to minimize the damage by quite a few compared to if I just left my entire position on a market order…
I then recouped and reanalyzed. First let us see the 30 minute chart:
This 30 minute chart shows us that the MAC-D Histogram was down, and going to new lows.
You can see the 2 day Force Index much more clearly when zoomed in:
Notice the 2 day Force Index almost at 0. Just before 8 o’ clock, the price of the stock dropped even lower, but the Force Index did not break a new low. The 13/26 day EMA’s are also forming a death cross.
Here is what my first losing trades looked like on the 1 minute chart:
Take a look at the very last blue triangle on the right. That was an impulse buy using my hotkeys on a market order, just after I had gotten out of a large red trade. Not a good look. Here is the full 1 minute chart of my trades:
Here is the 5 minute chart:
I knew that for the 5 minute chart, the MAC-D Histogram sloping up, despite making a new low, price-wise. The 2-day Force Index also was not making new Lows. Notice when I sold (the last couple red dashes). The Force Index was in the positive… The plan, after I had recouped after my first initial loss and gotten a grip on the stock, was that on the 5 minute chart, I would buy below the 13/26 day EMA’s, and hold until $17.00 (Strong resistance). The stock just hit $17.25. The problem with my selling was that I started selling off shares WAY. TOO. SOON. Like seriously, I was selling off 25 shares at $16.19… And my last couple trades were at $16.90-ish. If I had had more discipline and control, I would have sold around 50-100 shares at a much higher share price, raising my profits by a huge amount. I feel like I’ve missed on $100-200 dollars because I was too eager to sell my winning position.
Perhaps what I did well (or badly depending on perspective) was that I bought 200 shares at $15.80 and $16.10. This little averaged down my position well, and I had successfully taken advantage of a quick DIP as prices began to rally:
Today was a good day except for the last couple trades ($NETE). What happened was was that I identified a downtrend, but I kept on seeing ‘bullish divergence’ so I kept averaging down… Very bad idea. But I realized that what I was doing was holding and hoping. I also understood that what I was seeing was right, it was a bullish divergence. So I held and then as soon as I got to the break even point, I got out. I should have gotten all out the first sell (at 11:15:48), but alas I didn’t. I shouldn’t rely on luck. I need to wait for proper entries. The rest of the trades were good. I also fucked up by not being ready in time for the market open. Also I was not fully present for SPI moving up from $1 to $40…………… What the fuck. These are the type of days that make your year. I need to be more vigilant every single day so that I don’t miss out on these opportunities anymore… I have missed MANY already… Just be vigilant and tread carefully.
Exploring our Archaic Reality 