Vince's Trading Journal - Advice Needed!

[VinceField]

November 17, 2020
4 winner, 3 losers

I entered two trades about an hour before market close on two stocks that had a long steady uptrend. Almost as soon as I entered the trades the uptrend lost momentum and the trades went against me. This can be seen in the last two charts below. Is it common for uptrends to lose steam like this towards the end of the day?

Today's notes:
Set stop loss
Improve scale in strategy.
Don't enter with strong downward MA Resistance on multiple time frames
Be careful trend chasing at end of day?

 

[VinceField]

November 18, 2020
2 winner, 3 losers, 1 breakeven

Today's note:
Be careful with overhead MA resistance

 

[VinceField]

November 19, 2020
1 winner, 6 losers

Today I seemed to arrive late to the party in almost every trade.

Today's notes:
Be careful entering when slow stochastic is overbought?
Failed 2nd breakout from flat top rising wedge (bearish indication?)
5 EMA pullbacks before entrance (exhausted?)

 

[VinceField]

I took a couple weeks off paper trading to do some intensive studying. I felt it was necessary. If you take a look at my Onenote strategy notebook you'll see that I've been busy. https://1drv.ms/u/s!Ag3p10maeR_bjEr8zI1BRLgu1rUX?e=V44aZe

I came back to paper trading today and felt more confident and had a better idea of what to look for in terms of entry signals and scenarios. I decided it would be more practical to do my journaling in Onenote, so I'll be sharing just a few main notes about my daily trades here in the forum with the link to the Onenote document if anyone is interested to see the trades.

Dec 14
2 wins, 2 losses, 1 breakeven

Improvement Notes:
Get sufficient confirmation for reversal plays
Give price sufficient pullback room – up to 50% of big initial move

See trades here: https://1drv.ms/u/s!Ag3p10maeR_bjFglZBBCOA3FZiPx?e=cP72wt

 

[VinceField]

Dec 15

1 win, 2 losses, 1 breakeven

Improvement Notes:
Adhere to stops
Only trade valid setups
Wait for retest of VWAP before entering VWAP breakout

See trades here: https://1drv.ms/u/s!Ag3p10maeR_bjFglZBBCOA3FZiPx?e=cP72wt