August 4th Week Review

 Monday 

-Did not trade, catch up day from vacation

Tuesday

-Market looking super strong again, very clear breakouts happening. Seems like a big day in the works/continuation

-Big moves to start my day, caught clear win on RBLX and ASO. PLTR waiting. 

-Market is not a clean read. QQQ choppy, fakey, TICK straight down. Seems like profit taking kinda scenarios given last couple trading days. Still tho names on watch move well. In DASH, Out ASO small W. Lost vwap and broke lower. 

-Have the urge to take off early. These are great names in great locations with great intraday action, BUT still market theme has been to stuff breakouts and since im a day late into this new run up, seems likely things want to PB. There is a clear theme right now in PLTR and RBLX following 20ma on 1min, I will use as other partial to take some off. 

-Turned out to be an excellent call, both PLTR and RBLX lost it same time and quickly sold off to vwap. Still have partial to run and follow R and vwap rules

-PLTR lost vwap and all out, DASH broke BO level and took partial, 1 left. RBLX still above and holding with DASH

-Added Dash on VWAP PB

Wednesday

-Seems like a nothing day. UPS is only name on watch, have DASH and RBLX overnight.

-DASH gapping lower quite a bit, will have to judge at open. 

-RBLX gave me clear setup to add. Dipped at open, failed LOD breakdown, recovered vwap, made range with clear tape buying under, started turning up and in and added. 

-DASH also ripped higher right from bell. No pullback. 

-Took that UPS short, relative weakness for sure, seeing very slow trickle lower with volume picking up, seems like buying. 

-Loss on UPS, XLI ripping higher strong not helping.

-RBLX very strange action, keeps inching out a new HOD, huge vol came across at 90. Now lost vwap with big engulf. Must wait and see. 

    -I have a chance here to keep the loss small, I think I should take that small loss if it does break lower here. Is 2nd day entry on clear bullishness, now not bullish, no reason to hold it and follow my rules on exit if it does not reclaim. 

    -RVOL at 1. Options high. Market is not strong today, Internals are ok slight edge to bulls, nothing super special here.     

    -Didnt need to stress, recovered and ripped

-DASH finally gave up near end of day, chopped around vwap and i was back at breakeven so bailed

-RBLX near EOD had big vol spike, then nosedived a point and then some under vwap. I bailed as it found momo after 9ma retest and dropped more

Thursday

-Another not much to do day, nothing super clean, feels like im waiting for market to pb to see what holds higher and makes a ranges to see whats next to breakout. 

-PING good looking swing.

-Market sold off hard on what looked like news. I bailed PING ASAP and I think that was a mistake. Overall it held LOD and prev pivot low, had rel strength as market was weak. 

Friday

-still not much on list to watch out for, market in need of reset

-PLTR and TXN started strong, clear pops and holds

-10min in, excellent tape and structure still, market could be better but things look great for more upside. 

-PLTR HUGE offers, though getting taken out. 100k at .60, did get through, but still more huge offers above. Still taking them though, should be interesting. 26 is the huge OI level well see what we can do today. 

-TXN moving nicely, but slower name

-PLTR every .05 cents were seeing huge offers. Took partial, half, on 1min lo. Did turn lower more after. 

-TXN low rvol and options, came up to HOD nicely. Seeing some slowness, also seems to be following SMH 1:1, both huge vol spikes. Overall at a very big deciding point, been seeing selling past several times its been here, but VA very prominent and on top edge of it. I think its got a real good shot at exploding. 

-PLTR almost exact same D setup, with a little more bullishness, and intraday showing that.

-News hit, TXN flash crashed a bit, recovered, then lost again, I bailed for small L. Trying to get back in if reclaim. And it did ripped new HOD, im not in.

-I saw Q flash to LOD and TXN followed, right away did not want to be in it. PLTR held up fine whole time.

-I think the smart move is to wait for structure to reset and give me something as this dust settles. Clearly we ripped tho so action still bullish. Now might be a failed HOD break so tough to tell atm. I need to chill. 

-I got back in 1 lot on pb to POC above vwap. Bottom line is I would still be in this trade, so I need to be in this trade. Will add on better PA. 

    -I am uncomfortable getting back in without exactly what I want.

        -Problem?

        -Its still my setup, its still confirmed and reclaimed, still has good tape and vol, still has market help, still held levels it should. Why NOT be in it?

            -Just cause im uncomfortable?

                   -Only intraday looks a little ugly, but HTF is clearly still worth being in the trade.

                            -(This is where im attached to 1min chart too much. Looking at it as a 1minchart instead of the flow of the stock)

-TXN made new HOD. At least im in my trade idea with something rather than nothing. 

-PLTR never budged, continues leaking higher. 

-TXN straight rip to PT and bo level. Took it off on 1min low. 

    -I WANT to let it run, but I also need to follow rules

        -Hit PT = I take profit

        -190 is huge bo level + OI level so theres no reason for me to believe it must run through it and never come back. This market does not like breakouts all the time so always safe than sorry.

-TXN still hasnt busted but is holding higher, might get my wish and bigger pb

-PLTR riding this TL and 20ma on 1 and 9 on 5. If breaks TL with momo I need to bail most to protect. Seems more than overdue for deeper pb to reload. Market also pulled in. Though we spent so much time and vol at .80 its now. May hold here. Also all the more reason to dump if we lose it up here. 

-And it started dropping as did Q and SPY. Took more off. 2 of 10 remain. Will look to reload later. 

-Near end of day PLTR lost vwap and broke under, exited the rest

SWINGS

Took 4, all 4 winners at one point. All 4 turned out to be large big wins that I should still be in today. Yet my P/L on these 4 is -$25

They were strictly classified as swing only meaning my rules are different than day trades. None of them lost LOD as I was in, but they did all lose vwap and break lower under. 

The market is changing. We are starting to see more breakouts work and stick and run. This means I need to look to hold these more than cut them. 

DAY TRADES

7 trades, 4 wins, +$1k. Got some real good moves on RBLX and PLTR. DASH a decent win.

They didnt really trend well after 1st day, none acted quite right and gave me reasons to hold for more and both did end up reverting to breakeven and losing more. 

If I gotta scalp, then so be it. 

But looking at numbers, and not just this week, im only capturing roughly ~30% of the max favorable excursion of my trades. Im giving up a lot of profits. 

This is because

    -Theta

        -Closer exp names lose value much quickly on pullbacks

    -Allowing stock to pull against me

        -Part of my plan is to let winners run, stocks move up and down its just part of it

    -Taking half my trade off at 1st PT

        -I think this is where I need to make changes. Of course take profits at your PT, but im taking off half my trade, only to watch it keep running later on.

-If I take 1/3 off, I have 2/3 left to run but also if loser that means im going to give back even more so

    -After profit taken,

        -Other 1/3 also take on clear reason to sell

            -Market sell

            -Huge offer wont move

            -TL snap breakdown + momentum lower

            -9/20 MA loss + momentum lower

            -Clear range breakdown and hold

-After that first partial taken, the 2nd take to keep those gains will happen fairly quickly afterwards as these conditions may breakdown fast. 

-Looking at other screenshots this does look like a good idea. 

PROBLEMS

-Not holding my swing only trades long enough 

-Not getting back in my swing only trades 

-Took partial too early, gave up big potential gain

-Did not treat re entry as swing with proper exp date

-Giving up bigger gains by taking off size at PT.

SOLUTIONS

-Swing only trades must be given LOD to exit trade.

    -VWAP loss and breakdown means I cut position size. NOT exit whole trade. 

        -Add back in if proves itself. 

-1st PT hit

       -Take 1/3 off as usual

       -Take 1/3 off if another reason to sell presents

SUMMARY

Great selection this week. Chose great names to trade, didnt settle for less. Read the market clearly and took the clean and clear trades.

Entries and Risk were great. Management a little sloppy. Exits were at proper points. Holding onto those swing trades was key. Getting shaken out and not getting back in from news is key. As long as the stock remains strong and holds above key levels, I need to be in it.