Post-mortem 2019W24-W26

The market has been slightly good during the past weeks. More momentum plays are materializing. For me, it became a bit more challenging to do the 'after-trading' works as my time is already divided between my trading and my daddy/husband duties. I have to limit my screening and watchlisting time during weekends to make time for family during weekends. My trade journaling and reviews takes place during lunch time at work so that I don't have to do it at home. There's also the homework from TI coaches that have deadlines. Sometimes I feel overwhelmed by all these things that I have to do. But I always just say to myself that I'm doing this for greater reasons. Small steps. Eventually we'll get there. One day.

So June trades. It's basically just letting my winners run and buying up on another and a couple of cut losses. Here are my snaps.

2019W26 Portfolio Sumarry

2019W24-W26 Closed Trades

Closed Trades

1. PHEN - I bought the first round while the stock was creating new 52W highs. It had a good continuation until it hit a resistance at 2.90. I was up by a significant gain but the stock reversed and I was lucky enough to exit on a free trade. In hindsight, it formed a shooting star candle stick pattern. Then I stalked the stock for a few more days and it broke out of its DB (body plotting) but was a fakeout and I cut.
2. ALLHC - I bought the first round at a breakout of DB (body plotting) but was a fakeout and I cut. At round 2, I bought at a confirmed DB breakout. Had a good continuation but eventually reversed. I cut again my position. In hindsight, it formed an evening star candle stick pattern.
3. SSI - I bought at the breakout of the small range consolidation but had a late entry. The stock had a difficulty breakout out of 3.70 and started to get weak. I cut my position.
4. HOUSE - I already sold half of my position when it closed below 20MA. I sold all the remaining positions when it closed below the DB support. Closing my position at a 32% gain.

Open Trades

1. OPEN POSITION (since W24) - I missed this stock's first 2 breakout as it happened during early in the morning session. So I stalked it still and had a chance to finally buy on the third breakout but I reduced my position size to manage risk of my 'late' entry. It had a good continuation so I scaled up my position to complete my 25% port allocation. Now I am just waiting for trail stops to be hit.

Observation and Comments

1. I was still hesitant to buy the breakout if the move happened before near EOD or before 2:30 – 3:00PM. I am still fearful buying too early just to cut losses in case my bias don’t materialize.
2. I both missed to trade GSMI’s and PHEN’s previous rally but 52WH breakouts of these two stocks still have some steam. I missed an added 8% of gain on GSMI (to date) by entering late at my maximum buying range. And because my entry was late, I tried to manage my risk by reducing my initial position size, giving smaller gains. 
3. Decision to sell losing position before going off to somewhere else turned out to be a saver. Could’ve dealt bigger damage if I waited until EOD or until next trading day. 
4. I might have missed the first breakout of GSMI, but I was able to enter late and still gained from it. Proving the power of breakout into new highs. 
5. ALLHC - might be a BOSO play based on DNA 

Action Plans

1. I need to incorporate a rule for my system on when to consider buying early before EOD. It is also a factor of how confident I am on the stocks and setups on my watchlist and most importantly, my confidence on myself as a trader. Maybe consider the stocks sign of strength or weakness as a factor for this rule.
2. 52WH breakouts are proving to be the easier trades. Stick to this kind of trades together with MYH and ATH. 
3. As RS said in TI, compensate your late entry with proper position sizing. Reduce your risk by reducing your position size if your entry is late. 
4. Establish a rule where if a position is still new and hasn’t gained at least 10%, don’t hesitate to sell if the stock moves more than -5% intraday and/or if you can’t monitor the EOD. 
5. On GSMI - I added to my position on strength and confirmed BO. This pulled my AEP higher but made my position size big enough to give me decent gain so far. And more importantly, I managed the risk of my late entry using tranching and position sizing if the stock went against my bias. 
• Also, as reflected last week, try to practice conviction on entering before near EOD if the stock is showing momentum or strength. 
• Stalk stock’s DNA if it is an intraday-breakout-er or an EOD-breakout-er. This will me decide if I’m gonna buy the intraday breakout or wait til EOD. 
6. HOUSE – this is a good study on refining may trail stops. Because sometimes, a stock goes below 20MA but if you look closely, DB is still intact. Maybe use a confluence of 20MA and DB breakdown as a good confirmation of a trend shift. Make a case study. 
7. Don’t hesitate to enter trades that are well within your rules and parameters even if the price is already high. We are trend followers, we buy high, sell higher. Get in the next opportunity you see if you missed the first breakout. 
8. Get used to studying the stock’s DNA for better entries and maximized profits.

Progress might be small but are looking good. Overall portfolio performance is up by another 3% from last months 3.5%. And I still have a position that is still running and making profits. If odds are good, port can be up by 12% by end of Q2. But nothing is certain when it comes to the market, so we just react and wait for our stops to be hit.

I'll be jumping into live trading next month using a small account. I hope I can replicate the same habits into my live trading to improve my output even more. It is still a long way to go. But I am happy and proud of my performance so far. It feels good to be in the profit side at the end of Q2.