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Day Trading Stocks with Discretion


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Day Trading Stocks with Discretion

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  #161 (permalink)
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  #162 (permalink)
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1 winner, 3 losers. Net -$31. What should follow a record day but a losing day plagued by overconfidence.

Trade 1 was a pullback to the EMA21. Patiently trailed. Stopped out as planned can't complain. Saw a pattern of resistance at $160 both times price approached, which I noted.

Trade 2 waited for price to cross below the EMA21. Got short. After the second failed push down, I moved to BE. Got out there.

Trade 3 was where I needed to be. Got in after price closed above the EMA21. But got chopped out of my trade. This is where I lost it.

Trade 4 I flipped around in short order to catch the decline after seeing a lower high at 9:24a. Got stopped out in 6 minutes. So with two full losing trades I stop for the day.

But I kept placing purple boxes where I would have traded if I stayed in. FOUR SHORTS, all countertrend, all runover by the market shortly after placed. Ugh. Glad I was off for the day.

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  #163 (permalink)
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2 winners, 3 losers. Net $12.

Trade 1 trading a pullback. Given the second lower high put in at 7:45, should have been defensive, but went out at full stop rather than BE.

Trade 2 trade off channel from yesterday. Got a good push up. Even moved my stop to lock in profit. But when price came to my stop, I held for break even to see if I could get another push off the channel bottom. The highish volume down bars at 8:15 and 8:45 should have said individually and screamed collectively that this was not going higher.

Trade 3 was after the high volume reversal just after 9:00a. I should have gotten in between 9 and 9:15, but I got the second pullback. Got out at BE.

Trade 4 was the first pullback after a breakdown at $161. Not a great push down, got stopped out had to jump in quick to catch Trade 5.

I got pulled into Trade 5 based on how fast price traded off the EMA21. It traded back up close to my stop just about as fast. But didn't get stopped out. Traded my exit much more like a trading range day that it was.

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  #164 (permalink)
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2 losers, net $-80.

Got WAY too concerned about fading a strong move up. Took two trades back to back. Took me out for the day. Just when you think you are progressing, you have a day where you show yourself otherwise.

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  #165 (permalink)
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1 winner, 2 losers. Net $40.

Very thin volume for most of the day. Not a great day to trade. Even when high volume came in, it came in thousands of trades in seconds (like at 11:30a). Very tough to gauge and follow.

Trade 1 was "good" losing trade. Gap up on open, waited for pullback to EMA21. Would take it again.

Got luck on my exit on 2. Zero liquidity - very gappy.

Got trapped in trade 3. Be patient for a second entry...

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  #166 (permalink)
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Here is the equity curve, as of 10/5. Basically this week I made $384 on Monday, and managed to only bleed $59 of it back into the markets. Success, as only a trader could call it...


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  #167 (permalink)
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1 winner, 2 losers. Net -$19.

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  #168 (permalink)
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2 losers. -$80.

Tough day to trade. Thin volume, wide swings, basically all within a $1 range - tough to get $0.50-$1.00 swings out of a range like that...

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  #169 (permalink)
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1 winner, 2 losers. Net $24.

Another no volume $1 range day with a downward drift. I need to be careful what I take as a "high volume bar" on days like this. "Normally" a 10k volume bar on the 3min chart suggests something is happening, but on a day like today a 1000 bar stands out like a tree on the Texas plains. Can't use that as a signal.

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  #170 (permalink)
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1 winner, 3 losers. $60 net.

Squeezed blood from another $1 range day (after 7am).

So this week I have bled -$15 to add to my loss of -$59 from the prior 4 days. So not a pure draw down and not nearly as deep as draw downs past, but the days have felt futile. I remember thinking that if I were thinking about increasing my size, I would want to do it after a run like this. Big day has to be coming.

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