• RIOT not acting that well, MARA acting much better, GBTC about to open up probably low 12s. Had high hopes for this trade, BTCUSD is holding up really well, so that’s weird.
• Had a 1.5M loss yesterday, is my biggest loss, I had a 1M loss four months ago, I shrugged it off in a couple weeks and hopefully I will shrug off this loss too in a couple of weeks, just need to stick to my setups and methodology.
• KODK looks like it’s gapping up, I have mixed emotions about this one for obv reasons. If this one starts taking out orls out of the gate there could be a trade there on the short side. Borrow twice as expensive as yesterday, only gonna borrow 30kshares so I don’t do anything stupid like trying to make back yesterday’s loss, if I see a good setup there I’m gonna short it, but I’m not gonna do like a lot of size. Missed the entry orls, gonna try get some pops. Not gonna get filled on pops, just shorted a starter right here, smaller size wider stop, this thing is gonna fade back to sub 30. So far holding orls, gonna get stopped out starter, that’s fine higher it goes the better. Starting to fade a little, if we get some pops I’ll add some more to it. KODK building lhs again, this 36.30 area is a big rangebreak for it. Need to cover some here covered 5kshares, have 35kshares left. Bounced perfectly off g/r, lowering stop, this is a swing trade for me, either it goes to 25 or something by tomos, or it stops me out 43.60.
• TSLA right on the rising 20day in premarket, if it can’t hold that next stop the 50day 22% lower, and also if it starts breaking this 1475 range, that’s a big level. Shorted a big position orls (3900shares), just about to lose the 20day, looks very vulnerable on the 60min, starting to lose this channel on the downside, probably gonna bounce higher but it’s a tight stop. Stopped out quickly. TSLA having a big big candle to the downside, found resistance in the 1500 area, starting to build lhs here and we have this rangebreak, reshorted some. Fading more, short 2600shares again. If it starts retaking vwap I’ll just cover, it really needs to break lods, that’s the 20day and also the lows of this channel, unless it breaks that I’m not gonna do any size on it. Stopped in more size TSLA, 4000shares short now, very tight stop. If it reclaims vwap I’m gonna get out of most of my shares (1490), and the other stop is if it starts going green (1500). But if it takes out lods I may add even more. These really tight ranges you can do a lot of size, it’s like a 1% range and super liquid. Now building hls on the 5min and 1min, so probably gonna go green on the day. Gonna be a really good long setup for next week, maybe even tomos, thing looks really good, look at the 20day, just keeps surfing, can’t get below it. Now it’s putting in some really tight candles, it’s in a tight channel on the 60min, this thing starts breaking out of this 1530/1535 area, this thing could to to 2000.
• Watching airlines, AAL in a big big bearflag looks like it’s gonna breakdown, UAL same thing, SAVE same thing, these things just don’t have great news flow, they’re burning money, just really weak. UAL starting to breakdown, the weakest one of them, shorted 60kshares, showing weakness compared to all the others. UAL about to take out orls, whole airline sector really weak. SAVE $16 a major level yeah it is, this is a big bearflag, has been building hls for two months, you have this clear rangebreak here at 16ish, if this thing breaks down it’s gonna go to $10, that’s like a 30% move. Just stopped in 170kshares AAL, took out lods. These things could have waterfall declines eventually.
• I can take these small cuts all day long, when they finally breakdown I’m gonna make it all back and more, that’s my trading, I had 25% winrate last year and yet I made over 100%, it’s all about small losses big wins, small losses big wins. Don’t get into the cult you have to be profitable everyday, no you don’t have to, what you need to do is have some really big homerun trades and keep the losses small meanwhile. That’s my philosophy.
• Z got stopped out, took a 29k loss overnight on starter, but now have to rebuy it bc chart looks absolutely amazing, rebought 10kshares. Starting to break out of mini flag, got in a starter again, I just can’t do full size in a choppy market. I’m an addict, I have to trade, that’s one of my biggest weaknesses in trading, but at least I know, when the market is choppy, at least I’m able to recognise it and not do crazy size.
• TDOC bought 9kshares, this is a momo growth leader. Stopped out, this is what a choppy market looks like. Annoying shakeout, reversed higher.
• WKHS, this is a perfect looking htf, bought some decent size on this thing 150kshares, this thing looks so juicy, perfect looking htf. Stopped out, looked so good now it looks like sh*t. Chart looked really good, just the momo is not here, if we would have gotten this breakout two weeks ago it would have gone to 20, but the violent buying isn’t here, hasn’t been here for a while. After nasty shakeout built another hl on the 60min. Even though it failed the breakout, the chart is still intact, it has this big big multi month range, and it has this hls, hopefully not today but if it starts breaking out next week or something I’m gonna rebuy it.
• Yesterday on the stream I said I’d never seen anything like KODK but I have; LFIN back in 2017 was the exact same scenario, also AQXP 2016 or something like that.
• KNDI would have been a nice short orls, would’ve worked really well so far. I should have done this instead of KODK. Breaking new lows.
• DDOG having some follow through from yesterday, have 25kshares I bought late day.
• SPAQ also bought some late day yesterday on some momo with big volume, in the right sector with all the EVs and that stuff.
• TQQQ shorted 20kshares, prob gonna get stopped out of all longs, just feels like market wants to test lower.
• BE, a totally broken chart, had a big red solid candle through the 20day, I just sold it throughout the day, every time it broke the lows of the previous 60min candle I sold 10kshares, so I sold everything. Totally broken chart.
• No I don’t believe in MM stop hunting, there are no MMs anymore, it’s just all algos, and it depends on the stop, many types of stop it’s in the platform, the algos can’t see it. I really don’t believe that anyone is hunting your stops, badluck happens especially tiny shares, no one gives a sh*t, no one’s out to get you, it’s all you vs the market. You are the only factor that determines if you’re gonna make it in trading or not, no one else.
• How long do you think until someone could be profitable if they work hard enough? Idk 6 months/1 year. Obv you can be in the right place right time and accidentally make money, but if you learn a specific setup it’s gonna take you at least 6months/1year to master it, and to become consistently profitable and not just some random lucky guy that happens to be in the right market right time, and then give it all back when that stops working.
• A lot of these good charts look like they wanna breakdown, like ROKU looks vulnerable, IGV looks like sh*t, tried to break above the 20day, now it got slammed down, I’m gonna size down on my long exposure, there’s no reason to be long software names when the software etf is hitting new lows, that’s just dumb. Sold OKTA.
• OSTK, if this can extend to like 90+ in the next couple of sessions it’s gonna be a parabolic short candidate, but it needs a couple more up days. This thing had several perfect htf breakouts along the way, unfortunately I passed on both of these.
• Oil weak, yeah look at this candle on USO, that’s a big bad breakdown candle. That’s what we’ve been seeing, like sector after sector starts breaking lower past couple of weeks, one sector after another. Or not necc breaking lower but just losing momo, that’s what a choppy market is.
• AMD, the one that got away. I was contemplating buying it here [20/7/2020], buying it here [22/7/2020] but nope I didn’t bc I had this big mindset that AMD is a choppy stock, had a failed breakout here [9/6/2020], had a failed breakout here [9/7/2020] so I was like ah its probably gonna fail again, nope. Just look how perfect this thing looks on the weekly, this is a 5* setup, it built hls for a year, had this clean rangebreak, this is textbook, just a perfect htf on the weekly.
• NETE, an EV name, it is flagging nicely, htf, is a very very thing stock, but if it starts breaking out of this low/mid 16 area on volume, this thing could go. It’s a good looking chart.
• One thing I’ve learned over the years, if you have a big loss or you’re in a drawdown or something, you shouldn’t go crazy with size, it’s easy to get emotional etc.
• I fat finger all the time, at least a few times a week I buy or sell twice the size, but usually not on these ultra momo stocks, so I don’t think I can adjust to a point that will never happen again. You just have to be fine with sh*t will happen to you, if you’re gonna trade a long time, sh*t will happen to you, you’ve just gotta be prepared for that. There’s always gonna be something, technical issues, your own errors, bad luck, always something. You just gotta be fine with it, sh*t will always happen to you, at least a couple of times a year you’re gonna get a big sh*t thrown in your face, success in trading is all about how you’re able to wipe it off.
• LRN, is a thin stock, obv failed the breakout yesterday but the chart is still intact, htf is still intact, it’s building hls. If it reattempts to breakout over that high 48 low 49 area next week, it’s a htf, this thing could go to 60+ if it breaks out successfully. Gotta keep an eye on those types of setup, htf is one of the most profitable setups.
• I’m taking smaller risks than I used to, but I’m going for big multiples of risk. Like every trade if I can’t realistically think I’m can make like 10x my initial risk, I’m prob not gonna take the trade. Many of my swing longs I can make 20/30/50x my initial risk, so a homerun trade say like NVAX, I made easily 10x my initial risk on this thing. PDD also, I easily got 15/20x my risk.
• The problem with QCOM, it’s a very slow stock, avg ADR 2.5%, it’s just not a trading stock, you gotta be in the momo leaders. And just look at the numbers, it’s not a growth stock, 8% eps growth, -49% rev growth, the numbers are just very choppy. Compared to TDOC I bought today, this is something you wanna be in, steady high rev growth. Or another leader SHOP, look at the numbers, look at the rev growth, look at eps growth, then look at something like QCOM, why would this stock go up, what’s the reason for it? If you’re gonna get big moves in a stock, there needs to be a reason for it to go up, every stock can go up a short amount of time on some random stuff, but there needs to be something, earnings or expected earnings a big driver for long term moves.
• If I would start over again I would definitely not daytrade, I think daytrading is a huge waste of time, bc it’s not scalable. For a new trader daytrading could make sense but I think it’s just easier to make money swingtrading. In the long run I think swingtrading is just better, more scalable, it’s just easier. You don’t have to fight near your entry constantly etc etc. The big money is made in the sitting, all my biggest winners this year, I was in SE for 3/4months, went up 160%, FSLY went up 250% took a couple of months. Obv I didn’t trade these perfectly but it’s all about catching big moves and catching the big juicy part in the middle, and you’re gonna be financially independent in no time.
• SRNE, does look good, bought 100kshares, I think this thing could go to double digits, probably hottest sector (corona).

Misc:

• The most common comment I got like ‘oh looks like he’s paper trading’. People were like genuinely upset that they thought I lost a lot of paper money, really fascinating study into the human psyche.