Day Trading Journal - Day 1439 : Emotion Controls & Trust the Strategy

24 July 2021 - Friday

Broke the RULES:

• Trade As Less As Possible
• Do not trade too early when only few candles
• Pre-market trade. Should be Avoided.

MDGS 1st entry Buy $2.197 - Sell $2.06: Premarket spike as risky as majority of the time that it will just tanked hard. Avoid first SPIKE at all cost although it did looks tempting!

MDGS 2nd entry Buy $1.89 - Sell $1.79: Do not goes in before it showed some sign of strength.

Condition 1: Multiple green candle to break thru previous mini resistance

Condition 2: Break thru and pull back. Only to decide if is buying pressure is coming.

MDGS 3rd entry Buy $1.82 - Sell $1.93: This was good entry. After the drop & retest multiple time for the higher low price level, here comes the bounce to reclaim the previous mini top. After the entry, just stay patience and let the price workout & it did went to as high as $2.15 but too bad, RED LONG CANDLES were tanking too fast! Profit took after the quick bounce. 

MDGS 4th entry Buy $1.92 - Sell $2.05: After market opened, price didn't drop instantly but holding at support. When it showed a lot green prints coming in, grab some shares but did not stay patience enough because of the previous RED LONG CANDLE trick, & previous high just so above the current price. Took a quick scalp on this one. Eventually it spiked again to as high as $2.45. Have to stay patience a little bit more for few more minute. 

MDGS 5th & 6th entry (Forgot to screenshot, red arrows area): 2 losing trades. Price was in slowly uptrending but choppy. Entry when broke the previous candle top but quick faded back down. Too choppy. After 2 red trades. No more trades for MDGS.

ALZN 1st entry Buy $9.35 - Sell $9.22: Premarket trade. Looking the price reclaimed back to the previous high and broke thru, but quickly it turned to short sell pattern after few minute. The price action was tanking too fast to cut to breakeven. 

XBIO 1st entry Buy $3.75 - Sell $4.01: After having many losing trades. Emotional slowly kicked in. Entry was good but took profit too soon. Had been tricked by MDGS & ALZN. Emotionally want to make back whatever the loss are, turned into scalp which leave more on table. 

XBIO 2nd entry Buy $3.61 - Sell $3.72: Quick scalp again. Too scare to lose the profit back. 

After scalped, it did eventually short squeezed up at least 90cents. Sometime have to be aggressive.

Total Funds: $481.99  ~ Up $1.81