Just a Day Trader

 This specific trade review is for SMB to show my thought process around this trade.  THE SETUP CDXC is a biotech name that had a clear tight range looking ready for a breakout. Breakouts alone are not enough for me to take a trade. There are over 30 different things I take into consideration before I decide I want to look to take a trade on a name or not. I will list the ones that I found noteworthy on this specific one.  Mainly, some big biotech names around Jul 22nd were seeing some pops and IBB was also breaking out higher from a range reclaiming all the Daily Moving averages. CDXC about to do the same. I thought strong market, strong sector, potentially strong move? Other notable points  50MA showing clear buy candles 3 separate times, Anchored vwaps from Earnings days/pivot high and low just underneath of price. Failed triangle breakdown and near remount of TL. Other triangle breakout to the upside just barely broken.   Volume is also starting to incr...

 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...