SD-2024 BE PROACTIVE-STOP THE W-C-S woulda-coulda-shoulda

[sd]

Sunday- Jason's Index report illustrates the continued decline in the number of stocks participating in the rally -
This Divergence is indeed a serious warning -







Sets the tone for caution to be warranted.

Going to see Dylan and Willie- but Willie 's band will be performing as he's got a touch of something- age 92!
Saw Willie last year here and it was an excellent performance. Amazing that he can be so active!


Shadow Trader video recaps are well done.
Al Brooks on Price action.

[sd]

Slept in beyond the Open- Concert was too late-
Dylan disappointed his set -None of the old songs..
Willie's son was outstanding- great vocals, great guitar playing. Outlaws- well worth the admission.
Robert Plant's and Allison Kraus- music was different- Dark ....

OH YES- Markets- NVDA making a new low at today's Gap lower Open 123 and lower @ 10 am.

Tech is the only sector RED this am- Energy leading.





dEVOID WISDOM



wITH THE MARKET ROTATION AWAY FROM TECH- I'll try the investor role on some other segments-

Energy- The leading market sector segment over the past week -
going to play this rotation using DIG- the 2x ETF.



As seen in the Daily chart above, DIG has been in a downtrending channel for several Months-
Today's entry is near the top of the downtrend line. Price has moved higher from the $39 level made on the 17th.
The 'difference' is the higher level on the indicators - Energy has made a higher 1 week move- and Price is above the highs of the prior 3 weeks -all inside the channel.

Also. notice the most recent Price action saw an increase in the ema-s as being at a wide separation from the emas.





3 pm


The 15M chart @ EOD- nice Close.

[sd]

Tuesday 6.25.2024

EOD indexes - Russel and the Dow in the green yesterday Nasdaq posting another day of weakness.-
Perhaps the end of Quarter rebalancing by funds saw funds having to sell portions of holdings -like NVDA- if they became too large a % of their portfolio....
The markets are rotating - but the selling of tech- and mkt leader NVDA is well worth noting- I sold my small NVDA position as it initially dropped @ 137 and change- if memory serves .
That was on a raised stop to intentionally lock in profits seeing the gap-away Open 6-20. NVDA lost-6.88% just yesterday. Has given back $22.65 from it's High -16% in 4 days.
Arguably, NVDA is presently holding at an important Support level THAT FOLLOWED THE jUNE 5 gAP HIGHER OPEN. fOLLOWING THAT HIGHER oPEN, pRICE WENT INTO A SIDEWAYS RANGE for the following 5 days before breaking out June 12 on the next upleg. The $123-$118 level should have seen some more substantial support, but Price dropped right through the high of that level to close near the gap and low side of that range. Not Bullish.





In hindsight, my decision to raise the stop because of the wide gap Open that was really extended looks to be very timely- I didn't expect NVDA to drop this far.
As the chart shows, NVDA is at an important level relative to the prior gap.
QQQ's are up today- and NVDA likely will see a higher Open from yesterday's bearish Close-
May be a good re entry level today- So Close to a level where prior buyers should provide 'support'

However, Stepping out to a Daily chart illustrates that this pullback is relatively shallow ....


Shadow trader www.youtube.com/watch?v=93kLeo2nSns


IWL- Instead of buying small caps- IWM- consider IWL The russel top 200 ETF





MGK - megacaps pulling back

NVDA showing a higher open premkt.

Did buy a 10 share starter at the Open.

SQQQ - took a early buy at the swing low - stops out .
i.imgur.com/1GiO70G.png


Buying IWL with a really tight stop on this pullback and today's higher move.



Bitcoin has been under pressure- GBTC - entry $54.53 lmt 10:18 am


stop raised to $54.54; just raised again to below the 1st pullback swing low $54.70
Notice on this 3M chart, Price came back to psar when price pulled back from the high- @ 11 am, GBTC is looking weak and the TQQQ is struggling as NVDA is trying to go higher.


Buying MGK - the megacaps today are trying to make a upmove following 3 days of Decline. Stop will be below 310.00


11;30 sector performance:Tech is in the green while most everything else is in the Red-

Stop triggered in GBTC- didn't take a reentry


Buying 1 CMG today to be in for the 50:1 split tomorrow

From the LB website member- Beast -
He notes that the MACD is still at an extreme high level above the 0.0 line.



If i could just repeat the exit and today's re entry similarly on my other trades, I'd be quite pleased...and likely on the path to getting Rich LOL!
On a very serious note- The decision to EXIT on a immediate raise of the wider stop recognized that Price had a very wide gap higher- and gap away that likely was not sustainable. Similarly, the entry today recognized the early upmove off a pullback -was speculative- and only was started with a relatively small position. Gratifying to see that the Buy at the Open ended up with a very nice % gain at the Close-
Now, I don't have any illusions- Tomorrow needs to see another move higher- or this likely stops out. It's a 1st bounce/ assert- within a downtrend. and likely fails.



ON timing the market versus DCA- DCA wins according to this article

ofdollarsanddata.com/even-god-couldnt-beat-dollar-cost-averaging/

alphaarchitect.com/2016/02/even-god-would-get-fired-as-an-active-investor/

Meb faber- "The Ivy Portfolio" was an early read for me a decade + ago that awakened an awareness that one could potentially make investment choices that make a substantial difference over the long term- He noted that the large institutions had management that diversified and used a different strategy that generally outperformed the market.
mebfaber.com/2016/01/13/institutions-theyre-just-like-us/

[sd]

6.26.2024
Opened the Schwab account this am and see I have 50 shares of CMG-as expected-
Cost basis $3,257.00 ( 50 @ $65.14} That is shown to be trading in Extended hours @ $65.28 .
A reverse split means nothing about the fundamentals of a company- Nothing has changed- but it does allow retail investors to potentially Buy 1-or more shares without betting 3K on 1 stock.

Futures are mixed- Dow is again in the RED , Nas and s&P slightly in the green- but that's @ 6:30 am...
NVDA is shown @ $128.65 pre mkt...

Presently holding recent positions in IWL,IBB,DIG,CMG,NVDA,MSOS, with stops under the swing low Monday.
Should have added back MGK_ perhaps today-will re purchase..

Jase points out that seasonally this is a weak period in June, and next week gets stronger. No guarantees that this next week will follow as past weeks have done- but July is almost here...

Added to NVDA at the open- Raised my stop to cover the averaged cost @ B.E. with a decent cushion thanks to the entry buy yesterday .
CMG not acting well at the Open- I didn't set an initial stop on it, wasn't happy with the initial deep drop - As it made an attempt to move higher- I elected to set a stop below the 3M price low. Will save me $50 compared to setting a stop under today's open low.

Sold 1/2 CMG as it rallied above my cost basis to reduce the position size-
Raised the stop on the remainder to just below my entry- which was then triggered-
Same with NVDA- Big red bar pullback - set my stop just below the Low of that bar-
NVDA sold $124.34 - Took a hedge in SQQQ 500 @ $8.21 - stop $8.17- Had to size up on the number of shares as a small 2 cent move


SQQQ Long entry as NVDA stops out on weakness in Price action. Jumped a stop up to net a small $30.00 gain $0.06/500


tRADE 2 sqqq $8.24/250 stp $8.20
Noticing that SQQQ has made a Higher high while TQQQ has made 2 Lower Highs.
CMG Essentially OUT @ B.E. only 1 share for tracking left.
Markets indecisive



[/font)

[sd]

6-27-2024
Annual physical this am-
Jason Leavitt addressing the concern that the markets are just like 2000 before they crashed.

blog.leavittbrothers.com/?p=16541


OK on the Bill of Health-
11 am - NVDA DECLINING FROM THE cLOSE.



TZA.TNA.IWM


TNA 1ST ASSERT ENTRY BUY STOP FILLS


tHE TRADE INITIALLY GOES HIGHER



THEN, IT WEAKENS AND i GET STOPPED OUT


tRADE 2 TOOK A -$1.50 LOSS AS PRICE PULLED BACK-

i REENTERED AGAIN AT $35.39 tr 3 1 LOT-
STOP IS RAISED TO b.e. i EXPECT THIS TO GO



12:15 PM- 1/3 OF GTHE POSITION STP RAISED TO THE 8 EMA TO NET + $0.16

rAISED ANOTHER 1/3 STOP TNA TO $35.48 AND WENT LONG tza 1 LOT- WITH A $0.02 rISK




Didn't keep up with posting all of the trades today- Instead, I'm using OBS to capture video clips periodically during the day-
I stayed with TNA the remainder of the day-

[sd]

Lack luster Friday-MKTS flat midday. Made 2 trades in TNA that initially moved higher- but faded- and both became small losses.

Took a entry in STNE as it was a mention at LB- Members disagreed - Felt it will drop to the lower week trend line- But the Price action and higher Close yesterday appears to see some buying momentum- I suggested a higher buy-stop to enter on- it faded on the Open, and i took an entry as it pulled back and based. Low Risk entry as my Buy Risked less than $0.04





STNE- Trader SE had posted STNE- Yesterday.
I thought it had a potential to break out another move higher- Bullish high close above the base...and suggested a buy-stop above the high . $12.10-$12.15 lmt. I set that trade up for me today- didn't get a fill- ($12.09 high) and cancelled after price went immediately lower.
As i'm slowly learning viewing Price on a faster time frame- I'm also learning that some experienced traders here often nail a really good entry -and a step ahead of the indicator confirmation- . That gives an edge- .because it is Closer to the point of Failure for a smaller net Risk to the stop below the swing low.
the 1st Assert attempt on the faster time frame often sees a retest-or a lower move-
Faster time frame price action often focuses withing a $0.01 -$0.02 to the low of the consolidation /base-
I entered on the 3rd pullback- where price dipped $0.01 lower- and had a stupidly tight stop initially- $11.79- and widened it to $11.76 after looking left at the prior levels .
Left it alone- had to water the plants- no rain here in 2+ weeks. and came back in - at 3:50 pm -and followed Price for a 3:59 mkt sell.
Ended About B.E on the day as I had 2 earlier trades
STNE- Trader SE had posted STNE- Yesterday.
I thought it had a potential to break out another move higher- Bullish high close above the base...and suggested a buy-stop above the high . $12.10-$12.15 lmt. I set that trade up for me today- didn't get a fill- ($12.09 high) and cancelled after price went immediately lower.
As i'm slowly learning viewing Price on a faster time frame- I'm also learning that some experienced traders here often nail a really good entry -and a step ahead of the indicator confirmation- . That gives an edge- .because it is Closer to the point of Failure for a smaller net Risk to the stop below the swing low.
the 1st Assert attempt on the faster time frame often sees a retest-or a lower move-
Faster time frame price action often focuses withing a $0.01 -$0.02 to the low of the consolidation /base-
I entered on the 3rd pullback- where price dipped $0.01 lower- and had a stupidly tight stop initially- $11.79- and widened it to $11.76 after looking left at the prior levels .
Left it alone- had to water the plants- no rain here in 2+ weeks. and came back in - at 3:50 pm -and followed Price for a 3:59 mkt sell.
Ended About B.E on the day as I had 2 earlier trades

STNE- Trader SE had posted STNE- Yesterday.
I thought it had a potential to break out another move higher- Bullish high close above the base...and suggested a buy-stop above the high . $12.10-$12.15 lmt. I set that trade up for me today- didn't get a fill- ($12.09 high) and cancelled after price went immediately lower.
As i'm slowly learning viewing Price on a faster time frame- I'm also learning that some experienced traders here often nail a really good entry -and a step ahead of the indicator confirmation- . That gives an edge- .because it is Closer to the point of Failure for a smaller net Risk to the stop below the swing low.
the 1st Assert attempt on the faster time frame often sees a retest-or a lower move-
Faster time frame price action often focuses withing a $0.01 -$0.02 to the low of the consolidation /base-
I entered on the 3rd pullback- where price dipped $0.01 lower- and had a stupidly tight stop initially- $11.79- and widened it to $11.76 after looking left at the prior levels .
Left it alone- had to water the plants- no rain here in 2+ weeks. and came back in - at 3:50 pm -and followed Price for a 3:59 mkt sell.
Ended About B.E on the day as I had 2 earlier trades
STNE- Trader SE had posted STNE- Yesterday.
I thought it had a potential to break out another move higher- Bullish high close above the base...and suggested a buy-stop above the high . $12.10-$12.15 lmt. I set that trade up for me today- didn't get a fill- ($12.09 high) and cancelled after price went immediately lower.
As i'm slowly learning viewing Price on a faster time frame- I'm also learning that some experienced traders here often nail a really good entry -and a step ahead of the indicator confirmation- . That gives an edge- .because it is Closer to the point of Failure for a smaller net Risk to the stop below the swing low.
the 1st Assert attempt on the faster time frame often sees a retest-or a lower move-
Faster time frame price action often focuses withing a $0.01 -$0.02 to the low of the consolidation /base-
I entered on the 3rd pullback- where price dipped $0.01 lower- and had a stupidly tight stop initially- $11.79- and widened it to $11.76 after looking left at the prior levels .
Left it alone- had to water the plants- no rain here in 2+ weeks. and came back in - at 3:50 pm -and followed Price for a 3:59 mkt sell.
Ended About B.E on the day as I had 2 earlier trades

[sd]

Tom Bowley- www.youtube.com/watch?v=_UlPZV3IEhE
Gets into the RRG charts and how he applies them about 17Min in-

Excellent video segment on tracking leading and losing sectors-and sub sectors.

[sd]

Monday 7.1.2024
Futures all slightly in the Green @ 7am-
Relieved to see we got .5" of rain this early am. Been without rain for 3 weeks-

Tom Lee- thinks mkts could reach 5800 by year end- Expects earnings will be less in the final 1/2 -but that mkts will give a 20 PE-
Also thinks Bitcoin will see more institutional buyers...

CNBC- single earners need to make $186k annually to feel financially secure--

The debate with Trump and Biden last week clearly indicated Biden is struggling- and there's a lot of discussion as to whether he should step down as the Dem candidate and nominate another person to make that run-

Judd Gregg, Heidi Highcamp on Cnbc- discussing the debate this am - Both agree that the democrats need to present a new candidate- as it has become obvious that President Biden is performing with serious mental limitations- Gregg thinks his hubris (Biden's) makes Biden want to remain as the candidate- but that will cost the democrats the election.
This debate has even the pro-Dem backers really aware that the President is not functioning on a level that is needed for the most powerful person in the Free World- He has been shielded from a lot of public exposure -in the past year+ - and somewhat 'hidden' from public scrutiny- and only using teleprompters when he has made those rare appearances-
This is an opportunity for the democrats to nominate a fresh conservative- and there is no discussion to allow the Vice-President- Camela Harris- to become that person. However- as Roger Altman pointed out- that only leaves a few months from the convention to the election to try to get that person to mount a vigorous campaign, and the Dem party would likely see a lot of division....with the far left trying to seize the day.


Supreme court decision favors President Trump with immunity for actions as President- This seems to specifically exclude prosecution or charges related to Jan 6


Tough day for the markets- @ 11 am finally seeing some basing and attempts to turn higher.

Allowed myself to get caught without a stop in place as a buy-stop filled in TNA on the upmove earlier- and I was not watching it- Took a $50.00 loss on 1 lot as i had to sell as it was breaking lower- Careless on my part- Max loss should be $20 or less on a typ entry-
Back in TNA - with the stop @ B.E. @ 11 am.
Need to focus on just 1 or 2 combos. TNA/TZA; SQQQ/TQQQ




W-c-s- have made back $30 on that upswing- but I left my stop just above B.E. wanting to see a bigger upmove- Didn't happen . Stop is triggered for pennies.



May have to trade for pennies after all as mkts are weak- and- reduce position size -
as I try to capture the entry as price potentially makes another lower bottom.

[sd]

7.2.2024 Futures moving from the red to green
TSLA beat on vehicle sales.

jUST ANOTHER CHOP FEST DAY- tHOUGHT tna WAS MAKING A BREAKOUT.
spxl SIMILAR- JUST SIDEWAYS.

xlk- FINANCIALS- HOLDING OVERNIGHT EW- added to the position on the 1 hr upturn.
CTRA- initiated a position this pm as 'news' seemed to indicate the Biden admin may have been too slow on permitting...Not certain on the basis of that brief mention.
www.daytradingpsychology.com/trader-brain-profile
Take the questionnaire-


When it comes to brains, there are two major types …

no, not smart vs. dumb…

rather Left-Brain Dominant and Right Brain Dominant.

This distinction is like being left or right-handed… you were born this way. New MRI research has proven that several structures in our brain account for a rather profound functional difference.

Brain dominance matters because our left and right hemispheres perceive and solve problems differently: both life problems and trading problems. Neither hemisphere provides a complete picture or a balanced solution.

The Left-Brain perspective is emotionally detached, detail oriented and proceeds in a logical, step by step manner. It breaks things down into their component parts and studies historical precedent before it draws any conclusions. All of that is useful, but it’s not enough.

The Right Brain does the opposite.

When faced with a problem, our Right Brain gets excited as it searches for relevant patterns, context and confluence to better understand the situation. Then, it formulates a tactical response on the fly and doesn’t hesitate to take a leap of faith to find out if the theory/solution is correct.

Whereas the left brain deduces from precedent, the right brain extrapolates from the current context and whatever wisdom it has gleaned from its lived experience on the Road Less Travelled.

From the Left-Brain perspective, this improvised problem-solving approach appears impulsive, but the Right Brain operates by trial and error and doesn’t judge the errors. It approaches all challenges like Nelson Mandela: “I never lose. I either win or learn.”

WHOLE BRAIN TRADING
Trading is not only a complex activity requiring lots of study, it’s also dangerous. Jumping into the deep end of the pool without proper training is not recommended. But we don’t want to get stuck on the sidelines, either. And we don’t want to fight the last war. We need to grow and adapt.

Clearly, the complementary skills from both hemispheres would be ideal for this challenge. The ability to be both methodical (left brain) and adaptive (right brain) is critical for success.

To understand how this Left-Right Brain model might inform and improve your trading, let’s start with your Dominance Ratio to see where you fall on the Left-Right scale.

Your profile result gives you a dominance ratio. If you have a Left-Brain score > 50 you are Left Brain Dominant, and vice versa for the Right Brain Dominance. We can divide each Brain Type into three sections according to the distribution of the scores around the balance point of the scale (a score of 50 Left/50 Right).

LEFT BRAIN DOMINANCE

left brain dominance

The gray tones on the left side of the scale were selected to represent the left-brain style, which thinks in mostly “black and white” terms. To expand on the description above, left brain dominance is a Mindset that is analytical, objective, literal, sequential, numeric, deliberate and even a bit “judgmental.”

Regarding the judgmental trait, left brain dominance comes with a clear sense of right & wrong, good and bad and lots of other polarities. Therefore, it has a psychological range that runs from ‘Balanced’ to ‘Rigid,’ as shown on the scale above.

LEFT BRAIN DOMINANCE (50-59)
A Left-Brain Dominance Score in the 50’s indicates that you have a relatively balanced brain. Although you prefer an analytical approach to life and trading, you also have access to the real-time tactical (and improvisational) skills that arise from the Right side. So, you can “think on your feet,” so to speak. You can handle surprises and you don’t get intimidated by adversity.

LEFT BRAIN DOMINANCE (60-69)
A Left-Brain Dominance Score in the 60’s indicates that you have a stronger preference for analysis over action. You are somewhat inhibited and think twice about most things because you would rather be safe than sorry. You don’t really like surprises and you take time to come up with a plan to deal with adversity.

LEFT BRAIN DOMINANCE (70+)
If you score in the 70’s or higher, it is likely that your disciplined approach to defining and solving trading problems is rather extreme and may be holding you back from achieving your full potential. You hold all your ideas with strong conviction and don’t waver or wobble.

This mindset produces consistency, but it also means you are not very open to information that contradicts your preconceptions. If you are profitable, you will stay profitable, but if you are breakeven or losing, it will be difficult for you to make the changes you need to make in order to move forward.

RIGHT BRAIN DOMINANCE

right brain dominance

The colored tones on the right side of the scale were selected to represent the right brain style, which is more nuanced and emotional. To expand on the description given earlier, right brain dominance is a Mindset that is synthetic, subjective, metaphorical, multi-tasking, image and pattern based, improvisational, spontaneous, dis-inhibited and more “observational” than judgmental.

Regarding the non-judgmental trait, right brain dominance embraces polarities and paradox. It has a psychological range that runs from ‘Balanced’ to ‘Impulsive,’ as shown on the scale above.

RIGHT BRAIN DOMINANCE (50-59)
A Right Brain Dominance Score in the 50’s indicates that you have a relatively balanced brain. Although you prefer a more creative approach to life and trading, you also have access to the methodical skills that arise from the Left side.

You prefer to solve problems creatively, but you also appreciate the importance of planning in both life and trading. You approach most surprises and instances of adversity as challenges that raise your game.

RIGHT BRAIN DOMINANCE (60-69)
A Right Brain Dominance Score in the 60’s indicates that you have a definite preference for improvisation over planning. You have a tendency to shoot first and ask questions later. You prioritize going for results over tedious deliberation because patience isn’t your strong suit.

Timing is a problem. In trading you are often the First Mouse, when the Second Mouse usually gets the cheese. But you never give up. Suprises and challenges motivate you to try harder to solve emerging problems.

RIGHT BRAIN DOMINANCE (70+)
If you score in the 70’s or higher, it is likely that you have an improvisational approach to defining and solving most trading problems, which is probably holding you back from achieving your full potential. You mostly rely on your intuition and gut feelings, especially when you feel some pressure from adverse results.

Although you are not greedy in the traditional sense, you feel “On the Verge of Greatness” and you will do almost anything to achieve it… because it feels so close. This leads to high drama and boom bust results.

CONCLUSION
Our brains constantly learn and grow. All they need is direction from us. Functionality can be optimized through experience and training.

If you want to be a whole-brain trader… resilient in the face of stress and uncertainty… then strive to incorporate skills and habits from your non-dominant side. The more we integrate these opposites, the more balanced our decision making becomes as we craft solutions with a wider range of tools.

This core balancing process happens naturally, as we mature. Active trading (daytrading), however, is a time-compressed business venture that lacks supervision, timely feedback and guardrails. We are our own boss, so periods of imbalance can be quite costly.

I offer a range of coaching services that start at $297. Check out my coaching programs page here.

To your success!

Kenneth Reid, Ph.D.

[sd]

July 3- short day- Sold both swings this AM XLF,CTRA for net gains.

Things to get done today, with Family over the next 2 days, Kayak trip on the river Friday.

[sd]

4th of July- Independence day, and a day to honor and give respect to those that allow us the freedoms we have. Pass that on to our children-They wouldn't know the difference if we don't guide them.

Won't be trading Friday- short Kayak trip down the Neuse with our eldest daughter & 2 of our granddaughters-
Costco had a 2 person inflatable Kayak for sale and I thought this is perfect for both of our daughters- who have young ones ...
Will inflate that today- give it a test in our small pool- and allow Finn to give it a go today.

Leavitt brothers had pointed out TSLA as it started to move, and Devoid jumped in TSLL- the 2x - for a big gain-
I need to take a few more bats at swing trades-Devoid gives great examples @ the LB website of his swing trades- and how he raises his stops-
Continues to be an inspiration in his methods- and, he has the trades posted early- shortly after he gets in, and again as he raises his stop or exits.
So, if you are a human- and browsing here- give the www.Leavittbrothers.com a trial-

Listening to Jason Leavitt's Intangibles this am. 74 audio essays www.leavittbrothers.com/guidelines.cfm
only a few pictured here-

Audio essays that cover many aspects of trading- including those things we do that sabotage us. For the beginner as well as the experienced trader-
Something for everyone that desires to get another perspective...


'Success happens when opportunity and preparation meet-'


'Success in another field does not guarantee success in the stock market'

'The best trading book you'll ever read is the journal you keep of your own trading.'
'Trading is a performance activity- You have to make multiple trades to learn-'


and some 70 more essays that are insightful, instructive


Beach trip starts Monday-

[sd]

Beach trip for most of the week- Carolina beach, Lolo. 2 Granddaughters and their Mom-
Bringing the inflatable 2 person Kayak, plan to fish on the inside Sound side-
Just took the trip down the Neuse and the inflatable is very stable - but not designed for ocean going-
Warm weather here- finally got an 1" of rain yesterday-after3+ weeks with barely a drop.
the actual temp on the Neuse trip was 102 degrees- with a heat index of 110- but we were quite comfortable being on the river.

Will bring a computer, and a book, but likely won't be focusing on the markets--just on having a good time.

[sd]

Thursday pm-
Heading home tomorrow- Great time at Carolina beach- But too much sun zapped me . - Between trying to boogie board the surf with the granddaughters, and a kayak trip on the sound,
too much of a good thing and not enough sunscreen applied- Looking like a lobster- with blistering . Decent Carnival yesterday pm- while the girls had to test the fastest rides-
Ferris wheel was the highlight FOR THE lOLO AND i. Young Finn managed it relatively well initially freaking out when Mom stepped onto a ride,

[sd]

Sunday am viewing- Ross on buying the Dip correctly- as opposed to catching a falling knife

www.youtube.com/watch?v=ORWJzImSTdE

ROSS - 128 PAGE pdf ON dAY TRADING. fREE-
www.youtube.com/watch?v=ORWJzImSTdE

OTHER FREE DOWNLOADS from Ross: Warrior trading.
www.warriortrading.com/your-youtube-class-gifts/

FOMO FRIDAY 2 Hour -you tube video session with 5 traders on various aspects of ways traders sabotage themselves-
Psychology, FOMO trades, Revenge trading etc. Not having a systematic approach and rules. Easy to relate to certain areas they discuss.
www.warriortrading.com/fomo-friday-holding-losing-trades-too-long/?utm_source=Newsletter&utm_medium=email&utm_content=Your+Free+Downloads+Are+Ready&utm_campaign=EntryExit+Class+Gifts

It's an interesting discussion, and in the final portion of the video, other traders are calling in and discussing their trading issues with the group. Everyone - including Ross - will take wrong trades- reactive trades, and the take-a-way is to realize that the TA is important, but more importantly is the psychology one carries into the trade- As traders we often react due to some emotional or psychological impulse or desire- that hampers our results- or averaging down instead of taking a small initial loss-
As markets shift, it is easy to discover that what once was working no longer seems to do so...
As RAT at the LB website says- Focus on the Chart- Trade the chart - not your past beliefs or anchoring on a past winner-
We can sabotage ourselves very easily, important to recognize when we are not following the process.

ROSS-how he searches for day trades .Selects from the leading gainers pre market. wants to follow stocks already up +4%
www.youtube.com/watch?v=wlH8zKZ8vXA


After 4 nights, 5 days at the beach- and Day 3 getting too much accumulated sun And no market exposures intentionally- although I did bring the computer and had internet access- Glad to be back home- and taking some time this Sunday to get ready to approach the market with an Open mind this week- Did bring several of Mark Minervini books to re read- Only got through a couple of chapters "Mindset Secrets for Winning" Just too much going on with 2 granddaughters wanting to gogo- and body surf the breakers with boogie boards- Wears an old guy out-
Did take the inflatable Kayak out into the Sound for some fishing in the narrow sound channel between the Ocean and the CapeFear river- No Luck fishing, but got to see some huge boats for the ultrawealthy, and a mammoth sea turtle popped up 15' away looking at me.

July is typically a good month according to seasonality-to be on the long side- but August and September are generally difficult and losing months. Jason noted the market rotation and breadth is widening...and some $$$ are being pulled out of megacaps and going elsewheres...smalls had a big week.

For my day trading, I'll continue to follow the elements that Devoid applies-
You can find him avidly posting his charts, trades and often explaining his market read and rationale at the WWW.Leavittbrothers.com website. Although he uses a 5M chart- many of his entries are front running the price action and the slow 5Min MACD cross signal.

Daytrade Focus will be primarily SQQQ/TQQQ; TZA/TNA SOXS/SOXL-
The opportunity- and the RISK -in trading these, is that they move 3x more than the underlying index- XLK;IWM; SMH.
I'll use OBS to record my trades (for my own review @ Eod.) in real time- and then review that evening- or the next am to focus on what was done correctly- or incorrectly.

DEVOID TQQQ trades 7.11,12 .24 posted on the LB board.
Thursday, Devoid had 3 losing trades before finally getting a 4th win.sOLD INTO THE cLOSE-
fRIDAY- 2 WINNING TRADES.
The 1st and 2nd trade ON tHURSDAY WERE GAMBLES- The entry on both followed a number of bars selling off hard- looking for a reversal-
Trade 3 had seen the MACD cross the 0.0 line- but that move failed - Devoid highlights the divergence of price and the MACD with the yellow lines on the chart- He waited for Trade 4 -and bought after the 1st pullback. Sold for a gain as the market Closed.
Friday - He bought in after a pullback from the open made a 2nd attempt to move higher - Both Friday trades saw a positive cross of the MACD 0.0 line- and both trades succeeded. He took a quick profit with a tighter stop on trade 5 - not allowing it the room to test the rising 34 ema. but he also re entered the trade that afternoon following the pullback. and, he had likely raised the stop higher as price went higher and exited for a larger gain than shown on his early chart.




I've included the faster 2M chart here as my preferred chart to be able to get a better 'read' on price action. However, also using the slightly higher time frame chart as a guide for the bigger picture makes sense.
Note this next chart- The 2M chart and the faster MACD responds to each price upswing by pulling the MACD up -but many would fail as a go-long signal as the attempt to assert an upmove against a downtrend faces the momentum of that trend.
In the example below- Note that the MACD showed an overall divergence as price made lower lows- The slo stochastic failed to get out of oversold until the price actually reversed the downtrend with an initial successful assert .
The fast stochastic gives multiple signals from oversold to overbought- on every small directional move-
Notice that there is a big difference when the MACD is below the 0.0 line, and the signals when it is close to or above the 0.0 line.
I added in a CCI12 here and perhaps it's a better graphic than the stochastic ?

i.imgur.com/pNwswwl.png

Price action rules- Indicators trail price- but indicators can help to put price action in context.
Identify the trend on the time frame-and again on the higher time frames.

A lot of different appointments this week- Lolo and I both- Just staying healthy...but likely won't be trading many opens...perhaps later in the day.

ExPresident Trump's attempted assassination at yesterday's PA rally is overwhelming the news today-
Saw that yesterday as his rally was underway- Just amazing that he was not killed. Bullet missed his head by 1" and a spectator killed-
lots to be discovered yet- as to how a person -a 20 year old-could even get onto that roof without being stopped- apparently a local PA police officer tried to stop him, but was halted by the gunman-and he fell- or jumped off the roof as the gunman had his gun pointed at him. That officer and his account has not been fully publicized.

President Biden has pulled his negative adds against Trump- and is calling for Unity.

Trump is heading for the Republican convention.

Loads of questions have arisen- How did the gunman actually get onto the roof- been confronted by a local police officer- who jumped- or fell off the roof- and why did the SS snipers wait until shots were fired by the gunman?

Not here for tomorrow's Open-

[sd]

Entry $15.07 stop raised to $14.98. We had 4 bars respecting the $15 level- I entered long on the 2nd green bar.
This is a 1st thrust attempt to overcome the downwards momentum.
Did a bunch of buying /investments this am- including long energy - as The Trump attempted assassination has seen a probability for Trump to win jump higher.


Potentially I hade a net + $0.20 up move above my entry- Price pulled back, and i set a stop $0.02 below my cost-
Stop got triggered for a net small loss-
Day progressed- got a + $0.24 net gain on the last EOD trade in TZA-

Part of the process- Having to learn to think in both potential directions. Comparing TZA/TNA after we got back this am-
Markets were in rally mode- went ahead and made some swing trades/ investments.
EOD exercise- I used the 1M chart to study price action today- compared TZA/TNA- this afternoon.
Doing a recap review by marking up the actual net trades at the Eod.
I was hoping to get on board for some bigger surges- and didn't take the smaller gains initially-in hindsight- w-c-s- take profits relentlessly as Wolverine suggests.
Trade 1 saw price eventually go up =$0.20- before it finally rolled over, broke the trend line, and stopped out for a -$0.01 loss- ($-1.50)on 150 shares. Simply I should have sold 1/3 to lock in a gain- It was simply me trying to give the trade room to run- Trade 2 saw a good entry, and a more aggressive sell a portion on a raised stop .
Trade 3 quickly reversed- and became a $0.07 loss Trade 4 had a decent entry- but the momentum was to the downside in trades 3,4,5-
Trade 6 caught a good entry and trend reversal- sold 1/2 on price weakness/B.E. - kept 1/2 for a very nice net $0.24 gain- on aggressively trailing the stop up following the price...
Trade 7 was taking a chance right at the Close- which way price would go the last 1 M - and it was lower- and a small stop out.
I also should have swapped to go long TNA as the ema's rolled over-




Ross- VWAP
www.youtube.com/watch?v=W3jXQlgGbBc

Tom Bowley- market rotation
www.youtube.com/watch?v=ND-ON1yeD38

Several more am appointments this week-