August 2nd Week

 Starting this week on Wednesday, came back from wedding, no time to sink in and finish what I needed to to get back to trading. But now im here.

Wednesday 

    -Was good. I was not bringing my A game, did not get in all the time I wanted to get ready for the day, but had enough. Had my watchlist and levels.

    -Shorts were the name of the game today, SPOT and FUTU gave me great moves. Very clear sell tape, and very clean price action. A+ trades with good management and adds. 

    -Other longs were swing only. Nothing special since market obviously weak all day, but FTV showed good rel strength through it. CHK failed, RTX was holding up ok, it lost vwap and I didnt have size on yet so I gave it a chance to pull in to possibly reclaim, 

    -EOD, SPOT ripped faces off, not gonna hold that one, FUTU reset gave me re entry, failed breakdown but regained some at bell, small risk worth holding. FTV dipped hard and got bought up so in on that again too

Thursday

    -Not much to do at all. 

    -FUTU runner had great dip,,,, but big squeeze to new HOD shook me out, then reclaimed and back in

    -FTV had a nice run up, but straight sell off into last hour. EOD saw the spike back up again so assuming its still buy the dip cases. 

Friday

    -Started off hot, good setups at open and big runs to start. TSLA WDAY FTV still, and AVGO

    -Good entries good management, took my profits when available, looked to reset trades and reload

THINGS

    -Need better plan for holding pullbacks on day 2 holds. 

        -Day of 1st entry is safe to continue using vwap and LOD/HOD for stops, but on 2nd day

            -If im holding a stock into second day that means there was a trend creation move, HTF context             now supports my thesis and this is where dip buying or pop shorting just means HTF traders are             waiting for chance to get in

                -FUTU had excellent sell day of, so that means HTF we trend lower

                    -Next day had big drop, but then huge pop to new HOD

                        -Does that mean I need to bail? Or Hold and wait and see if HTF context still wants to                             play out for further moves lower

                            -And it did drop lower.

SUMMARY

Good week. Short week. Only W-F. Made back half losses from last week. Still pissed about AVGO cant believe that garbage. BUT they say when one opportunity is gone, another one comes. And that rip at the close does speak something for more to come on Monday so itll be on watch again.

Took 16 trades, 7 wins, Avg win ~$150 (depends on FTV still holding a 1/3), Avg loss -$62 so great stuff there.

Selection was excellent, I had a few I dropped off due to good prep and recognizing it may look good, but other indicators arent enough to keep it on. 

Going over screenshots, I did not do a good job cutting trades off after vwap loss. A few had broken new HOD and just lost, I had super clean and clear points of exit for smaller loss/win/breakeven, and I just held through for the full loss

  -How well did I control risk?

        -Very well. Didnt take any large losses, only a couple more than -1R. Sized up on the daytradable AND clean and clear price action, great cues with great triggers and I stepped on the gas a bit as it was rolling. SPOT TSLA FUTU

  -How well did I cut losers?

        -Not well, too many trades I should have followed rules and cut shortly after vwap loss but I didnt. 

  -How well did I take partials?

        -Taking money off winners was good. Took them all where I should have. No issues. 

PROBLEMS

-Taking trades off at vwap.

    -I just didnt do it. Several swing only trades had good HOD breakouts, then failure to hold vwap, lost it lower and I held on for bigger Ls. 

-2nd day holds

    -Need to have wider stop losses and different conditions. I need to be holding that partial through bigger pullbacks with expectations that the HTF context is still playing out and these pullbacks are a chance for bigger money to get involved for further moves 

SOLUTIONS

    -This is greed. Thinking I know better than the market. Thinking itll come around. Not respecting PA and my probabilities.

        -I have to do a better job anticipating when in a trade. When I see it at vwap, thats the time to start saying to myself 'if it cant hold this, this is when I look to get out.'

FINAL THOUGHTS

 -Not bad. Not bad at all. It feels weird still I look at my wins and barely captured 40% of the max move. Only way to get more is to ignore my profit taking rules and flat out hold longer. But that doesnt seem like the right choice. One, traders take profits when they are made available to them. Two, just because the stock reaches the BO point, doesnt mean it will continue because Three, This market has had struggles lately sticking breakouts and trending from there on in a relative straight line. 

-In short, I think this means that I am trading and selecting good names and getting good moves out of them. Winners were 3x size of losers this week and thats still with capturing lower Max Favorable Excursion. I think thats just part of the game trading options and being a day trader. Cant be too upset about it unless I was making clear mistakes like taking profits at random points it turns on me, or not taking profits at all on breakouts. Must continue as is and keep on it.