109 [Million dollar setups. Entries done, now it’s all about waiting for them to play out. Apr 28, 2020]

  • INO still short about a third. Yesterday shorted orls, added vwap fail, had a big fade into close and covered most [2/3]. Today looking orls to add. Gapping up a little on some pr. Straight down out of gate, shorted some on anticipation 1min orl. Covering some into flush off open. Let’s see if it can fail here at vwap, I probably won’t add to it bc I already did an add. Nice vwap rejection. Sizing down as it goes lower, hod now stop on all shares.
  • This INO is such a technical friendly trading stock. Like yesterday you got orls, add point you got the vwap fail. And today again, you got the orls and the vwap fail. Just such a trader friendly stock, and super liquid.
  • W held some overnight, gapping down a little, add some 1min orl. Target is 100, but I’m kinda oversized on it, so I’ll cover some today no matter what. This is the first time in its history it’s having a good short setup.
  • Everything reversing, I’m gonna press some more shorts here. ETSY, oh sh*t I missed the entry on it, doesn’t matter I’m gonna chase it.
  • Anytime you see the trashy stocks starting to rally, after a long market rally, you just know, there’s gonna be a rug pull. But you don’t know when. Could be in a few days, could be in a few weeks. But it’s usually the later stage of an intermediate term rally.
  • Indices are really tough to trade imo, I find it much easier to trade individual names.
  • I was mostly a daytrader, until I hit kinda 300/500k account size, below pdt was kinda more of a hit and run trading style. If you’re a daytrader, you get the first pop, you should probably get rid of a third or a quarter or maybe even half.
  • As all the MAs on the daily and 60min chart are moving higher, I’m moving my stop. Like for the higher it goes, or the longer it goes sideways, I’m always moving my stops. Through price and through time. I sell into strength and I move my stop higher.
  • I mean, I’m still not consistently profitable. I can have 3-6 months periods where I make little or no money. Happens almost every year.
  • I look for stocks that have recently made big moves, and then I look for tight ranges. Like RCL, super beaten down, then it had a big bounce, then it went into a tight range. Once it broke out of that range, well, you buy it. I look at different things if I’m gonna short or if I’m going long. Like on this mean reversion W, I was just looking for it to become really extended, and then on the 60min chart I was looking for some tightness, and a break, I wanted to see some red candles on the 60min chart. So yesterday I shorted it here like 130, once it took out the lows of these two candles here, and today I added a little bit once it took out the lows of yesterday’s last candle.
  • It’s important to see and really understand, there’s hundreds of ways you can make money in the markets, literally thousands. That’s something you’ve gotta learn early on; there’s no one way.
  • I said it earlier, everything was going straight up, the extended stocks were straight up, these beaten down stocks were straight up, it just didn’t feel right. Then this SE had a chart reversal. I’m like no way I’m gonna size down, so I sold COUP before it hit my stop for b/e. This is where experience comes in, once you’ve done something for a long time, you get this gut feeling. Sometimes you’re wrong, but sometimes you just nail it perfectly.


  • And now I just trade, I’ve never been this brain dead in my life. Exactly you get dumber, it’s not good for your brain to just look at a bunch of charts day in and day out.
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