Don't waste time with low probability, high risk setups. Focus.


XIDE: earnings gap.
Good: noticed it held above 12s.
Bad: didn't manage risk well. Too easy of a play to butcher
In the future: Sell into strength and buy back at better prices when the stock bases.

AIG: intraday breakout. Second play was a news short
Good: Found a great spot to add.
Bad: Didn't sell where I knew there was resistance/selling.
In the future: take what the market gives you and re-establish when possible.

BIG: intraday volume surge (news yesterday afternoon)
Good: Bought with a feeler size and got heavy where a bid stepped in.
Bad: n/a (good play)
In the future: take a smaller feeler size and manage risk on the way up.

BYD:  strong gap out of falling channel
Good: didn't hesitate to take the play
Bad: didn't manage risk (my profits) at all in this one. Instead I got frustrated bc I didn't have enough size in this play. Grow up and shut up. You had a second chance to LTFU.
In the future, I'll remain patient, set my alerts at important prices and find prices to get in.

CHK: strong uptrending stock
Good: Found nice pullbacks to get in with the price action
Bad: Got out at a bad price. Setting stops is an art.
In the future, I need to take profits if I'm up in a very short-term trade. This play didn't have a catalyst to give it 50c-$1. Take what the market gives you.

CL: Strong opening drive, consolidation breakout
Good: I played this one without hesitating. It was a good flag. MAs might've caused trouble though.
Bad: n/a (I managed risk well). Perhaps, I could've checked out the daily MAs more.
In the future, I will think more about where the price action is and where it's most likely going.

COF: Daily breakout, nice consolidation
Good: Finding this through Finviz and playing it
Bad: I could've taken more profit near the 51.70 pivot level. I could've also got in it at a much better price.
In the future, I will take profits where supply may come in. You can always buy the stock back later.


HTZ: Cup/handle breakout on the 30m Charts
Good: did a great job trading from pivot to pivot. Also another good job adding in where prices made sense.
Bad: n/a (good job managing risk)
In the future: I'll take profits earlier and raise my stops. I can always buy it back later.

JCP: Strong opening drive with flag
Good: got in when a flag held, and took it close to my target.
Bad: I need to keep up with strong stocks from the previous intraday and search for 2nd day opportunities.
In the future: n/a

KT: daily flag, intraday reversal
Good: noticing the change in sentiment
Bad: playing a very choppy chart.
In the future, I have to add more thought to which setups I choose to get involved in.

MCP: intraday volume spikes
Good: got in at the perfect price
Bad: didn't let MCP do it's thing. Scaled too much too early. Also 54 was another area I could've gotten back in.
In the future, I will set alerts  and get back into the trend.

REE: opening higher
Good: n/a (don't like this play)
Bad: entry, reason for getting in, impatience
In the future, I will only play setups with a clear risk/reward.

SNDK: semi's strong, SNDK trying to get back abv MAs
Good: I like the patience in getting in during a pullback. Perfect timing.
Bad: Trendline broke. I should've keep forcing an entry. Lost money by doing that.
In the future, I will trash the long idea once bullish technicals disappear.

TEVA: Earnings gap down
Good: identified where demand and supply were. Loaded up.
Bad: 30-40 cents up, there were a lot of selling. I need to let go of my stubbornness and take profits when the market gives them to me.
In the future, I need to keep my expectations realistic. While trades to hold may appear from time to time, I need to think about the overall picture and take some when it makes sense.

WFC: financials were strong, afternoon breakout
Good: used FINVIZ for this idea and executed
BAD: n/a (realized the trade wasn't strong and I exited for breakeven)
In the future, I will ask myself what the best price is to enter.

WFR: broke from its multi-day resistance
Good: Execution
Bad: n/a (trade just didn't work)
In the future, I will keep executing this trade and add size when it makes sense.



0 comments to "Don't waste time with low probability, high risk setups. Focus."

Post a Comment

Twitter

Web hosting for webmasters