Day 19: Daily P/L - $25.63, overall $15.16. I took...
# active-trading
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Day 19: Daily P/L - $25.63, overall $15.16. I took 5 ORR trades in the morning and 3/5 paid off but one only slightly and had 2 losses. I then later took one weak BOX trade with a small size and had a small loss. The afternoon wave reversal never really came like it usually does even though my setups were mostly solid if not slightly late entries on some. I asked AI about it and mentioned NVDA had earnings today after the bell wondering if that would be likely to have an effect. It said definitely that traders and funds will cancel all orders the afternoon before since it is so big, it can move markets either way. That seemed to make sense combined with i heard the size of NVDA is greater than the entire Russel 2000 index, so it seems plausible at least. Even though i think a couple might have played out in my favor if i held them overnight, i strictly closed them at the end of day since stops do not work after hours and i could not calculate the possible loss. I did reduce my trades today so i am not over trading and analyzing what i have better, i also succeeded in staying in until the end of the day and not being too aggressive with my stops, but turns out today i would have done better to planned for everything to play out by mid day or just exit since NVDA had earnings, i could have taken a small gain today had i realized. Play of the day is one of the same as yesterday MP , yesterday it was a short and today it was a buy, right away it puts in a big shooting star candle with enough range to be manipulation, i buy a little late after confirmation of reversal. Later in the day i closed it out after noticing it breaking the up trend and accelerating downwards.
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• MP - ORR - BUY - 70.46 - Sell Profit - 71.10 - Looked like it was turning down near end of day , sold myself to maintain gains. • AAPL - ORR - Short - 229.20 - Stop loss - 230.89 - Early entry even though i noticed it looked like it had more energy from the indicators and it reversed a little higher up, should have waited due to the lack of confluence although it had very strong power tower candles. • CVNA - ORR - Short - 371.16 - Sell Profit - 369.20 - Waited until end of day and it finally started selling off. • XLF - ORR - Short - 53.76 - Sell Profit - 53.70 - Waited until end of day and closed for very small gain. • BAC - ORR - Short - 50.31 - Sell Loss - 50.38 - Met all criteria for the trade, had a weak fall possibly because it has an overall bear trend, could have taken a small profit but stayed in and lost. • COST - BOX - Short 945.72 - Stop loss - 948.46 Shorting into bearish stock after reversal above previous days highs - light position since its past morning momentum - failed trade with weak candles should have stayed out.