Vince's Trading Journal - Advice Needed!

[VinceField]

November 11, 2020
3 winners, 5 losers

It seems I gave in to FOMO on a couple trades today.

I have a question about moving average crossovers if anyone would be so kind as to help me. It's regarding my first trade with CGC. The 200 MA was rising up to meet the 9/20/50 MAs and I took that as a bullish sign that could potentially result in an upward trend continuation due to the strong upward-moving 200 MA support. Please take a look at the behavior of the MAs on the various time frames and let me know how you would interpret them.


Today's notes:

Don't enter overextended. Wait for pullback.
Be careful entering after large bullish candle.
Be careful with overhead resistance.
Be careful with chop.
Set stop loss below lower trend line rather than MAs.
Don't chase.
Enter partial before confirmation of trend continuation.
Put stop loss below consolidation range low.

 

[VinceField]

November 12, 2020
4 winners, 2 losers

Today's notes:
Improve profit-taking strategy.
Avoid choppy price action.

 

[VinceField]

November 13, 2020
1 winner, 4 losers

Today's notes:
Don't enter overextended
Enter full position when entering after pullback
Stick to stop loss
Don't average down

 

[VinceField]

I've decided that I need to step up my analysis game. In addition to reviewing all of my trades, I'm going to analyze every trade opportunity for the stocks I traded for the entire day. I think this will help me learn and identify high probability patterns. I'll be posting this extra analysis here in my journal.

 

[VinceField]

November 16, 2020
5 winner, 4 losers

Today's notes:
Improve scale in strategy.
Improve stop loss strategy.

 

[VinceField]

November 17, 2020
4 winner, 3 losers

I entered two trades about an hour before market close on two stocks that had a long steady uptrend. Almost as soon as I entered the trades the uptrend lost momentum and the trades went against me. This can be seen in the last two charts below. Is it common for uptrends to lose steam like this towards the end of the day?

Today's notes:
Set stop loss
Improve scale in strategy.
Don't enter with strong downward MA Resistance on multiple time frames
Be careful trend chasing at end of day?

 

[VinceField]

November 18, 2020
2 winner, 3 losers, 1 breakeven

Today's note:
Be careful with overhead MA resistance

 

[VinceField]

November 19, 2020
1 winner, 6 losers

Today I seemed to arrive late to the party in almost every trade.

Today's notes:
Be careful entering when slow stochastic is overbought?
Failed 2nd breakout from flat top rising wedge (bearish indication?)
5 EMA pullbacks before entrance (exhausted?)

 

[VinceField]

I took a couple weeks off paper trading to do some intensive studying. I felt it was necessary. If you take a look at my Onenote strategy notebook you'll see that I've been busy. https://1drv.ms/u/s!Ag3p10maeR_bjEr8zI1BRLgu1rUX?e=V44aZe

I came back to paper trading today and felt more confident and had a better idea of what to look for in terms of entry signals and scenarios. I decided it would be more practical to do my journaling in Onenote, so I'll be sharing just a few main notes about my daily trades here in the forum with the link to the Onenote document if anyone is interested to see the trades.

Dec 14
2 wins, 2 losses, 1 breakeven

Improvement Notes:
Get sufficient confirmation for reversal plays
Give price sufficient pullback room – up to 50% of big initial move

See trades here: https://1drv.ms/u/s!Ag3p10maeR_bjFglZBBCOA3FZiPx?e=cP72wt

 

[VinceField]

Dec 15

1 win, 2 losses, 1 breakeven

Improvement Notes:
Adhere to stops
Only trade valid setups
Wait for retest of VWAP before entering VWAP breakout

See trades here: https://1drv.ms/u/s!Ag3p10maeR_bjFglZBBCOA3FZiPx?e=cP72wt