May 2020 Trading Plan Adjustments After May Trade Review / Recap

Trading Plan Adjustments (After My May Trade 2020 Review)

Full Video: https://youtu.be/KCV1slnvr-M

https://tradejournal.co/stats/?type=&asset=&symbol=&broker=&associated_portfolios=5&date_range_min=2020-05-01&date_range_max=2020-05-31#collapseFilter

Yellow Notepad Review (My 21 BIGGEST Takeaways From Last 6 Weeks of Trading)

1. My watchlist I wrote down used to be much less helpful, very clear now
2. Note to focus on OG plan, I seem to say that a lot - also I liked placing PM Limit Orders 
3. Give shoutouts more in recap videos 
4. When big stocks bounce small caps sleep
5. Being shaken out of winning trades seems to be a big issue even back then
6. Discovered and highlighted the 5m breakout and 1m pull-back 
7. Being a bit calmer
8. Stick to strategy, a bit like #2
9. I had the idea of decreasing trades from 2 to 3 as then I could be done earlier trading the morning hot movers. In theory, a good idea, in practice failed miserably as put a lot more pressure on each trade.
10. No clear lead gapper = enter with caution 
11. Getting aggressive 2nd Greenday after runner
12. Making the switch from first 15 min aggression to later morning (and PM) conservative
13. Opened discord group for future fallouts 
14. Clean lead gapper, get aggressive
15. Adjusting when a sector is hot (like oil), typical small-cap G&G will be weaker
16. Identified I was mixing up strategies
17. Buy whats hot buy bull flags
18. Discussing a bit about adjusting aggression 
19. Breakout or bailout (more of a thing early on but always applies to some extent)
20. Generating Conviction (this could be a really good topic)
21. New Rule 2 ways post 10:30 trading breakouts
    1. Buy pull-backs leading up to have a better stop
    2. Enter on confirmed 5m breakouts 1m pull-backs

Some specific examples

Focus on the strength of pull-back sell vol, the higher it is the more you should be careful of a failed continuation

https://tradejournal.co/trade/319/

Buying dips when we are dealing with VWAP breakouts or a bit more aggressive into the actual breakout

https://tradejournal.co/trade/376/

https://tradejournal.co/trade/385/

Buying breakout pull-backs above VWAP

https://tradejournal.co/trade/427/

https://tradejournal.co/trade/467/

Adjustments Since Writing

One of my biggest changes already has been trading no set limit of traders per day. Since I need to allocate my account as it's a cash account under $25k I still split up my trades based on 1/6th of my overall account size. But if there's any trade I don't feel 90% or more on (aka a bread and butter setup) I go half position size. I also go half position size by default on all my Pre-Market (PM) trades.