PULM: $59

CLS: $163

CRR: $306

STM: -$7

PHM: -$43

OREX: -$113

GPRO: $94

FOLD: -$92

CLRB:  -$96

MRNS: -$24

______________________________

NET: +$244

 

HIT RATIO: 40%

P/L RATIO: 2.488

 

Short term goal achieved: I ended green for the week! It means I'm starting to pick the right stocks to trade. So far earnings winner with a pleasant daily chart has been the setup in which I am comfortable to trade. I'm not really a momentum player, so trading hot stocks is not my cup of tea that's why earnings winner which trends on the 1 min chart is my strongest suit.

 

Few things to improve on:

 

1.) Discipline - the $MRNS trade should have made my whole week if I didn't move my stop near breakeven. Pullback trades work slower than consolidation breakouts and momentum so a leeway is given on this setup. A gain of around $600 turned into a $24 loss. Smh.

2.) Focus - Given you cannot hit them all, one thing that stuck with me is the $ATI trade. All the stars aligned on this stock (earnings winner, beautiful daily chart, perfect 1 min chart, and a solid entry point), but I missed it by not being focused on the market. The market rewards those who are focused, and I wasn't.

3.) FOMO - When I missed out on a beautiful setup, I always try to look for the next trade to ride even if the setup is half baked or just isn't there. $OREX & $PHM could've been avoided if I stayed on the sidelines and waited for the perfect opportunity.

 

Overall, I think I got better than last week since all of my trades are stocks in play. I scan in-play stocks faster. Hit ratio is better than last week and my current average. P/L ratio could've been better. At these current stats, I'm just near breakeven and I can't afford that. One huge rip on a single trade can wipe out all progress made on a week or even a month which can be really frustrating. Going forward, I need to STAY GREEN and IMPROVE MY HIT RATIO to 60-70%.