DRIP did what I thought it would do, I was just short too early, I got stopped out it had another push then it faded rest of the day.
A lot of these stocks just running up into their declining MAs, so idk how sustainable this rally is in the short term, I’m afraid this may fail.
ROKU failed at the hourly 65ema, I think these emas work really well on the 60min for these trending stocks, rn it failed right at it.
I’ve been trading about 8 years, swing trading maybe 4/5years… when I started swing trading I think I had a few hundred k, but the first few years I almost exclusively daytraded. I think daytrading is better for most in the beginning bc you get a lot of trades, if you do things right follow the rules, have a good setup etc, you do a lot more trades, make a lot more mistakes faster than in swing trading, but you lose your money quicker if you don’t have a solid setup so it’s a double edged sword.
RNG is really strong look at the volume, if this was earnings I would be all over it, but I didn’t even see this thing.
Fundamentals helps with conviction, if I know a company is a leader in its field and is taking market share or has created its own niche, and has big eps and rev growth that gives me conviction, together with a strong chart definitely. But if I had to choose I would just trade of strong charts no matter what, but I do feel like having a little bit of knowledge about fundamentals gives me an edge, that’s why I track earnings and stuff like that.
OSTK I shorted on this day here when it topped [13/9/2019] this is one of my favourite trading methods, was up like 6/7days in a row, big move double in 7days then this day here I was watching it for weakness. I think I shorted it somewhere here when it first tanked and rallied, it failed this rally here then I shorted it with a tight stop, then it just tanked, then it bounced a little bit I missed the second entry and then it’s been cut in half down like 67% since. Unfortunately I covered it all the next day, if you get a move that’s like 20/30% to the downside in two days you have to cover it, there’s no way to know it would go down another 60% in a couple of weeks. The short trade was all chart based, was up 6/7days in a row had doubled, then on this 6/7th day it just kept going up up up then it had a big down candle, then it bounced a little bit and when it started failing that bounce that’s when I got short with the recent high as my stop, I just found a tight entry was purely chart based.
This year I’ve been going sideways since July may even be down a little bit bc it’s been very choppy, been a lot of small losers and an occasional big winner but in a little drawdown but that’s fine happens every year, and mostly even several times per year, just have to recognise what it is and just wait for better market conditions. First 3/4months of this year were insane, the biggest rallies always happen after a drawdown of several weeks or months, that’s why I’m actually looking for the market to tank a bit.
Let’s look at htfs, you want it to rest on a few MAs, usually it’s the 10/20day, like OSTK a few years ago multiple htfs, you want the MA to kinda catch up, doesn’t need to touch the price but it needs to catch up, here it even undercut the MA, here it bounced right off. This year USLV which I traded, it kinda starts riding the MA, usually the 20day those are the best ones or at least the most common, you kinda see it it builds a series of hls.Same thing with TLT this year, these are a bit slower moving so not as explosive and fast but you can see it here starts surfing the MA, see how perfect a series of hls, surfing like it was surfing a wave, you want to see the hl action or a rounded bottom, doesn’t have to be perfect you can get these undercuts but as long as these undercuts get bought up really fast like a one day thing that’s fine, you want to see shakeouts.
TLRY yeah so I lost 700k trying to short it, I got in a really bad place mentally, idk why I did it was so stupid very avoidable, I just tried to short it every day, I could have just not traded it and there were so many other trades during that timeframe, and I just focussed on this TLRY every day and missed so many opps, instead of losing that 700k I could have made another 700k on something else, that was probably my biggest mistake in my trading career.
HOV yeah looks good very strong but extremely illiquid, there’s no setup here rn but in a few weeks may be setting up, could def be something, I’ve even drawn a trendline break here on the 60min.
I had like 2/3 blow ups in the first 2years, then I was about to blow up a couple of other times, that’s what happens when you don’t have a profitable trading process and method you trade, like something you do daily where you have an edge.
I’ve been slightly depressed most of my trading career, bc everything feels so dark when trading is not well even in my real life, trading is not a great profession for mental health I don’t think, you really have to be special to make it in trading, I think that’s why most people don’t make it, they just can’t handle feeling like sh*t all the time, bc it does if you’re in a bad period in trading you’re losing real money, it’s not like a real job where you can hate your job but still get a paycheck eom you don’t have to worry about the money, but in trading it’s different.
Mentors I’ve had many; Cameron Fous, Kunal Desai from Bulls on Wall Street, InvestorsLive, Dan Shapiro, Stockbee. I’ve been a paid member of all of these sites throughout my trading career, now I just subscribe to Stockbee bc all the others are more daytrading.
I’m always trying to hold things for as long as I can, to catch the big big moves, but sometimes I overstay like ROKU I bought on this earnings breakout initially on huge volume [9/5/2019] added on this secondary breakout [5/8/2019] huge earnings beat estimates but then I kinda overstayed, it pulled back 30%, that’s the hard part, but obviously I sold mostly into strength, I overstayed on like 1/4. ENPH same thing, it more than doubled then I overstayed on like 1/4, that’s the thing you never know when these things stop, that’s why I have these MA selling rules.
TSLA is reversing lower, I’m gonna put a trendline alert here, bc it’s kind of a big bear flag kinda thing, you can see it’s been building lhs for 7/8months now. Look at the weekly chart, idk if it triggers I may reshort this thing, they missed their estimates again, global economy slowing down, TSLA in a lot of debt, losing a lot of money, now they’re missing their estimates, 40B mcap and not even nearly close to selling as much as GM or FCAU etc, TSLA has a lot of Elon premium.
MEET let’s see what news, pre-announced okay, big volume on that news, okay so they’re gonna report the same amount of rev as they did last Q, gonna report 52M and same Q last year was 46M so gonna be less than 15% rev growth, that’s not significant growth at all.
this is one of my favourite trading methods, was up like 6/7days in a row, big move double in 7days then this day here I was watching it for weakness. I think I shorted it somewhere here when it first tanked and rallied, it failed this rally here then I shorted it with a tight stop, then it just tanked, then it bounced a little bit I missed the second entry and then it’s been cut in half down like 67% since. 
Unfortunately I covered it all the next day, if you get a move that’s like 20/30% to the downside in two days you have to cover it, there’s no way to know it would go down another 60% in a couple of weeks. The short trade was all chart based, was up 6/7days in a row had doubled, then on this 6/7th day it just kept going up up up then it had a big down candle, then it bounced a little bit and when it started failing that bounce that’s when I got short with the recent high as my stop, I just found a tight entry was purely chart based.
Same thing with TLT this year, these are a bit slower moving so not as explosive and fast but you can see it here starts surfing the MA, see how perfect a series of hls, surfing like it was surfing a wave, you want to see the hl action or a rounded bottom, doesn’t have to be perfect you can get these undercuts but as long as these undercuts get bought up really fast like a one day thing that’s fine, you want to see shakeouts. 
ENPH same thing, it more than doubled then I overstayed on like 1/4, that’s the thing you never know when these things stop, that’s why I have these MA selling rules. 
Look at the weekly chart, idk if it triggers I may reshort this thing, they missed their estimates again, global economy slowing down, 
TSLA in a lot of debt, losing a lot of money, now they’re missing their estimates, 40B mcap and not even nearly close to selling as much as GM or FCAU etc, TSLA has a lot of Elon premium.
okay so they’re gonna report the same amount of rev as they did last Q, gonna report 52M and same Q last year was 46M so gonna be less than 15% rev growth, that’s not significant growth at all. 