2 Day Evaluation

Daytrading continues to be challenging to put up a good sized green day. I'm still in it even with pretty bad risk management even though I'm trying. I can get a couple good trades in but end up giving it back with just average setups or tickers I know are tougher. From what I have had infront of me there are usually only 1 or 2 GREAT setups in a whole day. It really hasn't been worth it to trade anything other than those. I had some big losers on TSLA puts. The daytrades that come the easiest for me are shorting overbought spikes intraday.

My options and positon holding account does way better than the daytrading at this time. I'm doing more in that account now. I just put on a ton of shorts and puts. I've been longing USO calls every week and doing well with those. My strategy for crude oil that works is just being in the trend. If it is in a daily uptrend I buy calls, downtrend buy puts. I just took a put because I can afford to try and catch overbought here. Shorting multi-day spikers or Supernova's as popularized by Tim Sykes is a crowded strategy now in my opinion or atleast crowded enought to prevent easy low risk trades that can be held overnight or awhile without risk of squeeze or chop. I am not the fastest with entering orders with daytrading and it takes skill as when these movers are in play they move up and down 2,3,4 or more percent in split seconds. I always prefer market orders because I never want to miss a great trade but it can be costly with intraday movers. I focused more today on getting a lot of these 52 week low type stocks on and ones off bear flags near lows. I went small size with wide stops and plan on trying this stratedy multi day as long as the market keeps downtrending. I just pick ones with steady downtrending charts and consistent red to red candles. My theory is short seller manipulation looks like long side manipulation just in reverse. Usually these ones are lower market cap and less than $10. Like XPEV or NEOG is right now.

Selection was better today but still another red day. I was busy just putting on a lot of shorts and puts in the am. missed the Weed stocks shorts at open because I got started late. CGC was a short sellers dream today.

Daily Evaluation 10/4/2022

I reduced size and main goal was risk management. I made a good short on HROW and had some good scalps. I could have not taken a mediocre setup or two and would have finished better. Trade managemnent was good, risk managment good, selectivity wasn't good. Looking at performance I should be focusing on option swing trades and multi-day trades and going with small size on daytrades with extremely selective setups.

Daytrading Watchlist

For Tuesday the 4th I have long biased FNGR as always but it is going to dump one of these days. NAIL ATHX RVNC-in calls AERC JWEL-in stock SPRO SOBR FNHC

Short bias BEAT HROW TC PRTA ABOS ILAG FUBO Major indices look like they are going to try and start a new uptrend technically. The top downtrend trendline is getting testing. It may fail and fundamentally should. I am prepared to flip biases on major positions though.

Daily Evaluation 10/03/2022

I'm overall happy with my trading today. I made two good morning trades on FNGR and CSCW and stayed out of trouble the rest of the day. I severly reduced my position size to get back in the groove after two max loss days in a row.

S&P 500 Analysis

The yellow lines are rough support areas. The red trend line is the downtrend we are in and I think we very well may hit that on this leg down without a bear flag. That is how low we can go short term. SPY is way ahead of IWM. IWM isn't breaking down like this. I bought some IWM puts Friday.

Charts! And More Charts!

Welcome to my blog. Some of you may have come from 2+2 Forum. I am going to try to post more charts up going forward. I may even do a video blog or two on things I see and setups or trade recaps. It helps me too to analyze more charts. Here is a recent trade I made in Royal Carribean RCL. I was running nightly screens or "scans" as I call them for charts that haven't had a serious downtrend yet. I stumbled upon RCL the other day and saw a setup as a bear flag break. A bear flag is the opposite of a bull flag. It's just consolidation before the next push. I drew an "internal" trend line on the daily and shorted the breakdown and held through the retest up to $48 area as you see the green candle came back and failed to break through the line. Twice actually there two days in a row. Trend lines are never precise and an internal one captures the most points one is evident. The one I drew here is a little rough but showed the big picture. I made a good trade on RCL with weekly puts and sold on the gap down move. I think it has a lot more downside and may re-enter.

BEAT started to go red candle during the day above the upper bollinger band which is "the kiss of death". The candle has to print though and we didn't get it but usually these massive spikers that get far above upper bollie come down the next day. I shorted some and got stopped out. It will have a red day sooner or later. Maybe Monday. FNGR is a similar chart. FNGR keeps squeezing.

Daily Evaluation 9/28/2022

I had a bad trade on ADBE that was oversized that ruined the day because the loss was big. I had a good SPY trade that helped but selection was bad and risk management was bad. Big loss day. Today the 29th was about the same but couldn't get anything going after I missed the bulk of the a.m. move. I nailed a long on FNGR on the red to green move but entered in the wrong share amount. Just that kind of day with sloppy errors. I am going to have to avoid IWM SPY until a clear trend is made. This chop the last two days hasn't worked for me trading them.

Daily Evaluation 9/27/2022

My broker has a one day lag on execution downloads. So, today I could import the file to Tradersync. I Traded well and ended green on the BABA IWM shorts. I would probably score myself an A on everything except trade size. Maybe a B on that. Trade management was good, risk management was good, selectivity was very good as it wasn't a day to force longs with market off, position sizing maybe better.

Daily Evaluation 9/26/2022

Still waiting on my funds to hit my new broker for my daytrading. I put on and off some options trades today. I was eyeing LEN puts and put it on the back burner so didn't get in. I just watched the market in the morning mostly and afternoon. I put on a IBB call to hedge some of these puts and shorts I have.

Daily Evaluation 9/23/2022

I had a record day or second best record highest profit day from puts. I made one daytrade and started and closed some long swings. I took profits well on the puts and considered buying more puts but backed off. Trade management was good, risk management was good, selectivity was good, position sizing was appropriate on todays longs. Only thing I could have done better was hold a little longer but I locked in most UUP calls so scaling was better. Earnings plays with puts and short stock are what I am going to experiement with next week on more cyclical names.

Evaluation 9/22/2022 Puts and Calls

I put on a lot of position puts today. Still not daytrading as I'm waiting on funds to hit my new broker. I think it should be tomorrow or very soon. My playbook is very large and I'm starting to favor short selling intra-day and weekly. I was only or mostly a long investor for a long time in the past and briefly daytraded in the past. I think seeing things from a long traders perspective adds greatly to skill as a short seller. I know what these spike charts look like and how they behave from being stuck on the wrong side as a long trader so many times in the past. The best setups I took over the past several trading sessions were intra-day spikers on high day rangers. I can tell based on just looking at the last month or so of the large move green days candle lengths when to start to look for a short. That in concert with the slople of the run-up to the top with volume and price evening out on the 2 min chart. Volume at the top is not always spot on but a few minutes or so of sideways price action is a good indicator of a top starting.

I sold FREY for a gain near open. Should have held a partial for follow through. I was worried about losing the gain and it kept going off the triangle daily. I know these setups are strong so I need to manage them like they are. I took DISH AZUL RNA short. Bought XHB BBBY puts. Took a loss on a swing XLK call. I locked in most of CPTN. That one was a gain. Had a gain on SPRO caught it low 2.00s. Tried to short NAIL with my swing broker didn't get it no shares I guess. Took a starter on ZFOX and bought a CANO call. I was glad I could scalp a little today even with it being my position trade broker. I'm pretty happy with my trading today except the FREY sell. I could have gone bigger on CANO. I was thinking about the last couple weeks of my trading and I tend to overtrade in the first 30 minutes to an hour of the day. I need to be aware of this and back off at the open some.

Setback with Broker

I made trades through my broker like I always do but somehow some went through as cash orders so my intraday buying power was knocked down without me realizing it. I missed the afternoon range break on IWM right as I had to call my broker and was on the phone with them for an hour atleast. Fidelity is just too unrealiable for a couple reasons for daytrading. I can't select margin or cash so I would assume it would all be margin as I'm a daytrader using their "Active Trader" platform. But sometimes it sends cash orders which throws off my balances. The platform doesn't adjust quickly also so you have to go off the website to see your holdings. I'm hesitant to place any orders until I can get my cash out and to another broker for daytrading. I'm pretty upset about it so I'm not going to place any trades the rest of the day.