Just a Day Trader

 Only 4 names im looking at today BIDU ALB CRSR PRTS, ditched 2 other lesser setups they didnt have enough variables to make it worth the attention CNK and SPR gapping up, SPR gapping up big as are a bunch of other industrial defense names.  PRS the only one Im looking at strictly swinging, the others I am looking to day trade on breakouts with tape cues and volume only / in first few minutes of the day, or else just looking at buying pullbacks to levels. No chasing anymore. Tired of trading in ways that dont reflect the trades that have performed the best in my career, and thats been through buying the pullbacks.  Take the trade, save best risk for best setups. SPR I need to take off asap. These gap ups im willing to bet will get sold asap, so after 1st minute of the day, break the low of that im cutting half / my add from yesterday.  CNK very close to take profit breakout as well. Just a quarter under it pmkt now.  SPR nice pop at open, hit .80 saw good clear ...

 Focusing on quality better today. Had 8, dropped to 7, added 1. Volume cues, option cues, multiple breaks, VA edge, MA tight. Good looking setups with better options. SPR CNK holds from earlier this week, SPY again doing the gap up to prev day high at open so both also gapping up after weak day. Things I just have to deal with swinging names, dealing with market antics.  WB and MVIS WB strong open above D, in MVIS dip at open held, reclaim in, and added on new move higher. Is day tradeable. MVIS rip into pmkt hi and broke  CDE nice dip into vwap + perv hi, in for swing on gold. MVIS pop into BO level, must chill WB failing, dropping to retest open / prev hi and out on LOD break CDE added MVIS into vwap and bo level, may add WB of course reclaims and fakes me out MVIS of course doesnt hold now negative.  CDE chopping around, gold ETFs weak dropping lower MVIS retested vwap + bo level from under, dropped more, might be problem. WB back in on reclaim and hold. MVIS coi...

 Market looking up today. Nice reclaim of MAs, nothing notable about volume tho so may be a concern. Gapping up to start the day, recovered selloff into close we saw. Reasons to hold my swing ive seen that plenty of times. Decent amount of names on the list today. Things a bit aways from trigger breakout levels so well have to see if we get some good consolidation just under later in the day. Seems like a day ill be at the desk all day waiting to get some trades on. No stress. Im separating names into categories of swing, or day trade. The days trades will have the most focus on as those are the ones I can make the most money in. Swings just simple trigger on level breaks, buy the call, let it go.  Some get a bit expensive so wont let it run to 0, but a good portion of premium at risk. If it costs 4$, im not even risking half, still just whatever prem would be on a lod break + space. Market trending up at the moment, names setting up with good breakouts. Right now looks like a...

 Getting back into it. Starting to feel the urges to trade again and get back to business. Market overall still sideways. Some names making good moves, still good looking longs out there. Main thing to focus on for me is separating swings and day trades. To be decided before the open dependent on ATR/option vol/spread. Day trade opportunities only on pullbacks for now. 90% of my recent losses are on buying the daily breakout levels, and taking the L as they fail. So for day trades, strictly looking at buying pbs for max RR scenarios and minimal negativity.  FIS At open, big pop, letting it settle. Above D level and got above early morning and in on swing trade. Strong push all open, holding higher above prev hod. Holding.  Pulled in, building higher, no complaints. Still holding higher all day, last hour of day. Starting to get choppy failed breakouts both directions. Market v strong, Recent run up to range high with engulf candle. Vol not here but building above old big ...

 Market continues its down move, getting pretty ugly looking out there. Still nothing that clean for me, only 6 on the watchlist. CNK OSTK WOOF IPOE GNRC MMYT I read a Dr Steenbarger post yesterday about market conditions and being a 1 trick pony.  If you trade a style that fits your personality, youll be a one trick pony.  It was a good post that hit me pretty good and got me thinking. Another one, in stable market conditions, we work to refine our game. In changing market conditions, we find new games to play. I am a breakout trader. I like it it fits my personality and the things that make sense to me in the markets. This market we have been in, is not a breakout market. And clearly it show sin my performance.  There isnt anything wrong necessarily with my process. It worked fantastic in December/ January. Because we were in a breakout market, and names were constantly breaking out. I do not need to abandon this process and way of trading. However I do have to mak...

 Slow day today. Market big dip buy yesterday, charts are so ugly out there.  I scan ~800 a day, only found 6 im interested in OTRK RUBY NLS PATH MVIS RBLX And going into the bell, its not looking like ill get any right from the open so ill be sitting on hands quite a bit today it seems. Yesterdays problem was risk again. I have a few things ive set up for myself. 1. I have sticky notes in front of me on main monitor      -Do market conditions allow me to trade? 2. RISK     -Where is stop placement + space?     -What will option prem look like in worst case scenario there?     -What does that make my starter size? 3. RISK $$$ Plan     -Depending on Star rating, how much i am willing to risk per trade I also on my journal have step by step, # of contracts to buy, and risk by the penny I will have to take on each stock. NLS Only name strong at open, above prev high and in. In at .90 in with 3, I missed original starter + add...

 Big gap down today. Had nothing but shorts planned. Have to wait on pbs at the open NIO Pb to D and BO level + 1AR move to start day. Good tape in and added NIO started well, market made bull flag, started breaking higher. NIO followed to HOD, Waiting NIO got there and rejected, markets and internals diverging, it sold off and I added.  DOCU same as NIO, new HOD into D level and reject lower with vol in and added.  NIO again good reject added last tier.  NIO just kept running up, market strong and followed. DOCU looked great with reject and MA and volume, market turned up strong though may have to cut.  DOCU also still all around HTF bo level and seeing relative weakness, may be chance to add.  DOCU made new HOD, with vol, market still no turn cut for loss.  REVIEW So many things wrong. For starters, me. My heart is not in it right now. I cant get a grip and do the work everyday that I need to be doing. Im settling for less in preparation. 2nd DOCU an...

 Here we are again with the dailies. Looking at  -Swings     GNRC, QRTEA, KSS, KO, PPL SM, OTRK -Daytrades + Swings     CPE Huge gap up in energy, Ive got a few energy names im looking at in good locations. Focus is just getting in on the breaks of levels with set risk and conditions and letting it ride. No stress, no need to day trade them. Just in and let them be. CPE is a good day trader with good vol and tighter spread. I like it for both so it will be my focus on the day to get in on the swing, and day trade around it on the pullbacks.  Not pushing too hard today. Market still chop territory around ATHs, Tech still selling off hard on earnings, no good clean setups to take, no reason to even look for a long in a market that longs arent working. So I put focus in defensive names where clearly, the bigger moves are happening. I cannot day trade these as they are slow and a bit spready, just doesnt make sense to try and day trade them. In OTM/ITM cal...

 Took this start of May week off. A little burned out, too much red. Needed time off.  Lots of things happened this past week and a half. More housework, getting a new patio. The process of house improvement never stops, but I will say the past almost 2 years now of going about this has really taught me a lot about home improvement and what to expect. Funnily enough you can consider it the same as trading expectation wise. Double the amount you think itll cost, double the amount of time you think itll take. Funny how you meet random people online and these connections seem to happen at the perfect time. Saving tons of money and time by skipping Home Depot and Lowes, and sticking with/ taking a chance on, the guy you just meet through Facebook that says he can do it.  I joined Smash the Bids group. Thought they would be a good group to join and get some more knowledge out of. They trade options, I listened to several of his interviews on YouTube with various interviewers, ...