Book of Charts - $HOUSE, $HLCM & $GSMI
Book of Charts is my compilation of screenshots of good setups that I may have spotted or traded so that I get to familiarized myself with these setups.
As mentioned on my Q2 review, here are three of my few winners over the last six months. Gains are not much, but I am here to dissect and review my trades and find rooms for improvement. I'll use questions from Mesino's dissection guide for this three trades.
As mentioned on my Q2 review, here are three of my few winners over the last six months. Gains are not much, but I am here to dissect and review my trades and find rooms for improvement. I'll use questions from Mesino's dissection guide for this three trades.
$GSMI
- Why was this included in my watchlist at that time?
- I was stalking this stock since before that first breakout at 33.00 which would be both a MYH and a 52WH breakout. But I both missed the initial breakout and a second breakout because it happened during the morning session which I don't trade because of my place's time difference with Philippines'. In short, I was still asleep when the first two breakouts happened. I didn't bother chasing them. I waited for my EOD opportunity.
- What were the convictions/probability stacks to bump it up my watchlist/priority list?
- Stock was in AOTS in daily and weekly chart.
- First two breakouts were strong enough to sustain the price up until EOD.
- Reasons for buying? Where could my stops have been placed?
- RFB: Breakout of DB and new 52WH. Bounce from 20MA.
- SL: close below breakout point.
- Reasons for holding? Any signs of strength or weakness? Price action? Where could my stops have been adjusted?
- RFH: Good continuation of the breakout.
- Signs of strength: Pierced another MYH resistance at 49.00. RSI stayed above 70.
- Trail stops: close below new DBs or 20MA
- Reason for selling?
- RFS: DB breakdown with more than -5% loss in one day.
- What works and what doesn't?
- Didn't stop stalking the stock even if I already missed two breakouts and was already 'late for the party'.
- To compensate my late entry, I reduced my intended position size to reduced risk.
- Buying up on strength allowed me to complete my intended position size of 25% port allocation.
- My exit was bad. Shaving a third of my gain. This can be improved. I could've done a better exit. I could've sold half my position during early intraday when it broke down past 60.00 and sold the other half near EOD at 58.00.
GSMI - Daily |
$HLCM
- Why was this included in my watchlist at that time?
- This stock made a significant rally after a successful ZS. I don't trade reversals for now so I stalked the stock during its consolidation.
- What were the convictions/probability stacks to bump it up my watchlist/priority list?
- Stock was in AOTS in daily and about to form ZS on weekly chart.
- ZS breakout were strong enough to push the price 50% up.
- Reasons for buying? Where could my stops have been placed?
- RFB: Breakout of DB and new 52WH. Trailing at 20MA.
- SL: close below breakout point.
- Reasons for holding? Any signs of strength or weakness? Price action? Where could my stops have been adjusted?
- RFH: Created a new DB and previous DB top held as support.
- Signs of strength: RSI stayed above 70.
- Trail stops: close below new DBs or 20MA
- Reason for selling?
- RFS: Sold half. Candle stop and whole number breakdown (15.00) after the gap up candle.
- RFS: Sold all. Closed below 20MA.
- What works and what doesn't?
- I didn't managed to maximized the gains because of improper position sizing.
- Buying up on strength allowed me to add to my intended position but didn't reached 25% intended position size.
- On hindsight, I could've sold half at the first red candle after the gap and sold at the second red candle when RSI 70 didn't hold.
HLCM - Daily |
$HOUSE
- Why was this included in my watchlist at that time?
- OLD PORT - This stock was in consolidation and is right at its MYH resistance at 8.50 - 8.90.
- NEW PORT - After breaking MYH resistance, ATH resisted and the stock consolidated. Looking to enter at break of ATH
- What were the convictions/probability stacks to bump it up my watchlist/priority list?
- Stock was in AOTS in daily and weekly chart.
- ATH play.
- Reasons for buying? Where could my stops have been placed?
- RFB: Breakout of DB and MYH/ATH resistance.
- SL: close below breakout point.
- Reasons for holding? Any signs of strength or weakness? Price action? Where could my stops have been adjusted?
- RFH: Created a new DBs and previous DB top held as support. Trailing on 20MA.
- Signs of weakness: Bearish divergence on RSI
- Trail stops: close below new DBs or 20MA
- Reason for selling?
- RFS: Sold half at closed below 20MA.
- RFS: Sold all at closed below DB bottom.
- What works and what doesn't?
- Patiently waiting for that ATH breakout is super worth it.
- Buying up on strength allowed me to complete my intended position size of 25% port allocation and later on scaled up to almost 50% of port allocation.
- I can consider my exit better than the first two stocks above. Didn't sell all my position at close below 20MA as DB is still valid. Waited for a close below DB bottom before closing my position.
Lodi ko to !
ReplyDeleteUy, classmate! Musta?
DeletePwede na pang mentor level!
ReplyDeleteI have a feeling na pasok ka sa Masterclass ni Zeefreaks!
ReplyDelete