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T0rM3nTeD 401K Trading Journal

Discussion in 'Trade Journals' started by T0rm3nted, Jun 5, 2019.

  1. T0rm3nted

    T0rm3nted Moderator
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    Just closed my position in CYBR at $128.992 for ~1% gain (~+$115)

    upload_2019-7-10_11-47-51.png
     
  2. T0rm3nted

    T0rm3nted Moderator
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    Closed positions in CYBR and PENN today, for 1% and 7% gains respectively. More accurate percentages in the previous posts, but those are rounded. Freed up a lot of cash, so once it settles I'll have capital to buy about 4 more positions when I find good spots.

    Account Value: $76,888
    Cash: $32,204

    Day's Profit/Loss: +$194

    Positions (Day's PL / Total PL):

    AMD:
    +$516 (+1.93%) / +$6,586 (+31.84%)
    YEXT: -$130 (-1.38%) / +$1,281 (+16.08%)
    CRON: -$128 (-1.55%) / +$140 (+1.74%)
     
  3. Mitzter

    Mitzter Member

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    T0rm3nted likes this.
  4. T0rm3nted

    T0rm3nted Moderator
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    It's easy when the market and your largest position cooperate :)
     
  5. T0rm3nted

    T0rm3nted Moderator
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    Currently have an alert on the following positions at the following numbers, been waiting for awhile on some:

    ABBV (watching for One point as he mentioned $57 on this one)
    BABA: <133
    BAC: <27.25
    CBT: <42
    CLX: <147
    GILD: <63
    GM: <32.33
    PINS: <24
    STNE: <25
    TNDM: <54
    UAL: <80

    Definitely looking for more, but just because I have a bunch of cash available ($32K = ~4 positions at $8K a piece), doesn't mean I want to force any plays. Waiting for good entries, which unfortunately probably means in most cases waiting for a market pullback. Still keeping my eyes open though. I'm not good at finding value in breakout stocks, or stocks not bouncing off support, so I'm out of my comfort zone in the current climate.
     
  6. T0rm3nted

    T0rm3nted Moderator
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    Win streak broken. Down a bit today.

    Account Value: $76,229
    Cash: $32,204

    Day's Profit/Loss: -$659

    Positions (Day's PL / Total PL):

    AMD:
    -$589 (-2.16%) / +$5,997 (+28.99%)
    YEXT: +$4.48 (+0.05%) / +$1,286 (+16.13%)
    CRON: -$74.76 (-0.92%) / +$65.15 (+0.81%)
     
  7. T0rm3nted

    T0rm3nted Moderator
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    Was out of town last week, so hadn't really updated. Here's my weekly gains the last 2 weeks:

    upload_2019-7-23_7-50-50.png
     
  8. T0rm3nted

    T0rm3nted Moderator
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    Just bought NFLX. 26 shares at $307.574. Trade plan is below.

    upload_2019-7-23_13-33-12.png

    upload_2019-7-23_13-31-20.png
     
    David Nwokeabia and Bodacious like this.
  9. Bodacious

    Bodacious Active Member

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    Awesome journal, I really enjoy reading about your game plan.
     
    T0rm3nted likes this.
  10. Mitzter

    Mitzter Member

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    I was wondering why you decide to open the position in NFLX at this level and not at a clear support level?
     
  11. hitman

    hitman Active Member

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    If tormented plays it to the resistance point then cut it loose it's a good trade the entry point he choose is a good move.
     
  12. Mitzter

    Mitzter Member

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    I’m not saying it’s not a good trade, I’m just wondering what the thought process is. Always open to learn things from other traders. Tormented is doing a great job so far so that’s why I’m asking ;)
     
  13. T0rm3nted

    T0rm3nted Moderator
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    No worries guys, and I'd hardly call myself a great trader. I keep it very simple and pretty much focus on support bounces. Majority of people here have been doing it much longer and are far more successful than I am.

    Anyways, a few reasons I got in NFLX here. Some are more logical than others, but most are just me being impatient. I'm being transparent.

    1. I have no problem cutting my losses, so the risk is not that high having the gap down that already happened at earnings.
    2. Normally I do wait for a MUCH more clear trading plan and very clear support, but I’ve got all this cash burning a whole in my pocket so sometimes I get restless. You'll see over time that 90% of my plays are playing bounces off actual support and cutting my losses when that support doesn't hold.
    3. It’s a bull market. Sitting on half cash is making me very restless.
    4. Round even numbers like $300, even if they have not been tested, typically act as support in my experience. Support doesn't always hold of course, but I doubt it just free falls right through $300.
    5. Risk/Reward ratio is above 4 (>24% reward, and <6% risk).
    6. My trading plan doesn't require me to be right on even 50% of trades (though I do still hope to be). Because I am completely finding letting my stop loss trade order sit there and execute if it needs to, I'll only lose x% per trade (in this case 5-6%). Because most of my trades that are successful gain, we'll call it, 20%+ when I play them all the way through, I don't have to worry about the losses, because as long as I get a winner in there every 3-4 trades, I'll still make a profit.
    Of course I deviate from my plans at times, lock in small profits on trades that aren't going as expected, etc. But overall my big winners carry the small losses so I don't worry about making a wrong decision at times. I rambled way more on this than I expected to.

    TL;DR -
    I have too much cash idle in a bull market and $300 is a number bulls will be watching for support for a good entry price. I'm impatient.
     
  14. Mitzter

    Mitzter Member

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    Thanks @T0rm3nted, great post. I find myself in these situations sometimes as well. I found averaging up in positions that are in the money making a big difference in my trading. Increasing my gains drastically. It could be something to look into for you as well, since you have the cash lying around.
     
    T0rm3nted likes this.
  15. T0rm3nted

    T0rm3nted Moderator
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    Wedge forming here... support at the 50MA as well. Hoping to see the breakout to the positive side for the push up towards my target.

    upload_2019-7-24_8-3-49.png
     
    David Nwokeabia likes this.
  16. T0rm3nted

    T0rm3nted Moderator
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    Just got in W at $140.964 for 56 shares. Flirting with support. There's more support at the 200MA I'd assume, but that would make the risk/reward a lot less beneficial if I put my stop that low. I've got it at ~4% right now, but will re-evaluate what we're looking like if it comes to that. Trade plan below.

    upload_2019-7-24_14-47-10.png

    upload_2019-7-24_14-47-32.png
     
    David Nwokeabia likes this.
  17. T0rm3nted

    T0rm3nted Moderator
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    Just got in CLGX at $41.67 for 192 shares. Playing the bounce off support. Target will fluctuate, as will support depending on how the stock tracks up (hopefully) with support.

    upload_2019-7-25_13-16-50.png

    upload_2019-7-25_13-17-16.png
     
    David Nwokeabia likes this.
  18. David Nwokeabia

    David Nwokeabia New Member

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    Hey Torment, are you trading with margin?
     
  19. T0rm3nted

    T0rm3nted Moderator
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    I am not.
     
  20. T0rm3nted

    T0rm3nted Moderator
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    Great week last week, making nearly 4% on the portfolio! Closing in on $80K for the first time. At this rate, I think 6 digits is in sight this year. Not expecting it, but it's no longer an impossible dream. Sneak peak at the annual return so far this year too.

    upload_2019-7-29_7-26-15.png

    upload_2019-7-29_7-28-21.png
     
    Bodacious and David Nwokeabia like this.

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