KGTrader4 Paper Trading Journal - My Training Wheels

deaddog said:
Keep asking yourself why. Why did I feel the need to do something?
Be like an annoying little kid and reply to any answer; Why?

When you get to the point where you answer, "because it's part of a well thought out plan." you can answer the next "Why?" with "Because that's how I make money."

I could do it for you but it gets really annoying and you start giving answers that you think I want to hear. If you do it you'll know when you're bullshitting yourself.
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Excellent comments, thanks
 
Watching this week (still papter trading)
These are questions as much as they are statements. Check me. Deaddog wwhat say you? annoy me.

XLE - cup with tight handle buy at $80.50 ish
XLV - higher lows higher highs since Feb 23RD, up on big volume Friday, buy at 139.50? Ignore $141 resistance top in December, negated by more recent uptrend
XLB - building tight base, , needs more work
GDX - in a base formation although choppy, would buy above 40 on breakout.
 
KGTrader4 said:
Watching this week (still papter trading)
These are questions as much as they are statements. Check me. Deaddog wwhat say you? annoy me.

XLE - cup with tight handle buy at $80.50 ish
XLV - higher lows higher highs since Feb 23RD, up on big volume Friday, buy at 139.50? Ignore $141 resistance top in December, negated by more recent uptrend
XLB - building tight base, , needs more work
GDX - in a base formation although choppy, would buy above 40 on breakout.
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Do you know what you exits are?
Like I said elsewhere, a good plan answers the question; "Now what do I do?"
 
deaddog said:
Do you know what you exits are?
Like I said elsewhere, a good plan answers the question; "Now what do I do?"
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XLE - cup with tight handle buy at $80.50 ish - stop at $75. @ $90 Take partial profit
XLV - higher lows higher highs since Feb 23RD, up on big volume Friday, buy at 139.50? Ignore $141 resistance top in December, negated by more recent uptrend - stop at $135, take partial profit at $145
XLB - building tight base, , needs more work not ready to enter this trade yet
GDX - in a base formation although choppy, would buy above 40 on breakout. Stop at the 50 day MA, currently at $35. Partial Profit at$50

These are potential trades, i may or may not be able to enter them if buy points are hit in the morning.
 
Bought 300 XLRE @ 49.57
Rising and tight coming out of cup formation. I like how it’s holding up in the face of 2.54% 10 year greasy yield .
Stop at 47.80 (below start of rising trend)
Initial target for partial sell $52.17
 
KGTrader4 said:
Bought 25 shares PSA @ $399.02
Buying the trend. probably maybe coulda woulda shoulda waited a bit as its at the top of the channel, but I'm impatient.
Stop put in at $353, max downside 11% max risk to total capital 2.3%
Initial target $460 (15%). But no overhead resistance so just initial.
Position trade

View attachment 281404
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Took another look at chart and raised stop to $378. Which is just below where previous high/resistance was broken
 
KGTrader4 said:
Took another look at chart and raised stop to $378. Which is just below where previous high/resistance was broken
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WHY??
Why did you take a second look?
Why did you move the stop?
Why do you think this is a good area?
I don't need the answers but you might. Explain it to yourself as you would to a client.
 
No its ok, i know the answer.
I was reviewing my pending orders and decided 45 points was more risk than i wanted to take, even on only 25 shares. so that answers the first two qiuestions.
I chose this area because it just under where the stock broke through resistance. if it goes below that, i think the base its formed and light trend is broken

It wasnt emotion
 
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