Irish Born Investor's avatar
$16.6m follower assets
15th June 2022 - Trading Journal
Today's trading journal is brought to you by IBKR. I use them as my main brokerage for both investing and trading. As a European investor I have tried several different platforms and I can safely say they have the most comprehensive platform available to any EU based investor. In terms of platform power, safety and products (Stocks, Options, Futures etc.) You can check out the platform here.

Situational awareness:
Note: June 10th all my stops were hit and some trades I actually cut before the stop was hit: $ZM & $SHLX to be precise. The market action was dire and in times like this it's best just to step aside.

June 13th & 14th: I made some day trades - shorting $DOCU, $HES & $CVX intraday for opportunistic small moves with size on a heavy downtrend day. June 14th I had a small win on another intraday trade with $LI on Chinese strength.

Not much pre work was done on these trades and I find they are difficult for me to do consistently on a daily basis but in short hits here and there when the trade is very obvious or good RR I'm okay with it to give me a small green day when there is no point in looking at swing setups.
Pre Market Work:
With the FOMC meeting today I will be simply waiting to see what happens with that. I have been studying the $SPXC this morning for a potential "scenario". This is mainly just an exercise but nevertheless here it is.

When the market has these moments such as the Fed Meetings or catalysts it tends to make a quick fake move one way in the minutes after the announcement or news then reverse the opposite way. This could happen hard today. I have no idea which way that will occur if it does however here is a potential.

We make a quick red move after the meeting then hard rally upward toward the 3900 area. This would catch a lot of people offside and the market likes to do that. The reason for the 3900 area is the gap and the 10MA.

Or maybe the market plummets. Who knows. If i was to trade this scenario I would be using the current market low as my area to trade against. That way the risk is managed objectively and the upside is great in terms of RR. 10:1. If the stock moves up instantly and you miss your entry well then that's that. Never chase.

Again this is scenario building out of interest.

------------

In other notes a lot of names were reset but Chinese stocks are still looking like they are making interesting moves. $PDD & $LI in particular.

Trading Day:
I eventually took the $SPXC trade using Mini Futures. I executed it fairly okay. It could have been done better but the idea played out to perfection. This was the only trade I took today and moved my account almost 3% with an excellent RR and risk in check.
End of day Thoughts:
In trading you do not even need to be right 50% of the time. You can become a multi millionaire being wrong 80% of the time once the odds are skewed in your favour. If I can flip a coin over and over and receive 2 Dollars every time I hit heads and only lose 1 Dollar ever time I hit tails I will compound. Now imagine you win 3, 5 or 10. That coin flip can actually be rigged against you in terms of win rate and you will still come out ahead.

Stanley Druckenmiller says SIZE SIZE SIZE when you see your opportunity skewed heavily in your favour. Pradeep Bonde calls it picking up free money.

That is the essence of trading and getting that mindset.
Notes & Open Trades:
  • No Positions

Please note I operate my risk with options that I can lose 100% of the premium. This is the safest way to trade them in my opinion. Even if I cut at 50% once I am setup to lose 100% within my risk threshold then I will stay ahead of my required R:R.
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Irish Born Investor's avatar
$16.6m follower assets
6th June 2022 - Trading Journal
News: I am delighted to have partnered with Interactive Brokers for for the next few months. I use IBKR as my main brokerage having tried many others including Degiro, Tastyworks, Trading212. For a trader or investor based in Europe it is by far the most powerful and professional platform to use long term in my opinion. I'll be writing some more about it's pros and cons going forward but for now if anyone has any questions please feel free to DM me or comment below. You can check out their platform here: Interactive Brokers - Please note I do not receive any bonus or referral if you sign up, I will speak honestly about my experience (good and bad) with the platform and others. Thanks for the support!

Recap from last week: My better half had an appendicitis last week so I was trading minimally and didn't have time to do my write ups. On Friday 3rd June I traded $HDSN & $SHLX. On the former I was stopped out as it reversed quickly. In hindsight the volume wasn't there. I'm still in $SHLX from $14.39 with a stop at $13.80. So far it hasn't made the move I wanted but it's in a strong sector with a good setup.
I did not do much work last week except work on some scans and I also want to streamline my watchlists a bit better. I currently use TC2000 & Tradingview. I love tradingview for many things but they fall down with scans and the speed at which you can go through watchlists. I think I need to have only my focus list on there and use TC2000 for everything else including my sector lists. This will require a bit of work.
Situational awareness:
Cautiously Bullish on Monday. The market is coiling for an explosive move one way or the other. I believe that will be upward but my belief is of course weakly held.
Pre Market Work:
Chinese names rallying early pre market. I had been keeping an eye on $PDD other names with a lot of volume were $FUTU & $DQ. Regardless of big moves none of these names currently meet my criteria to trade in terms of a proper setup. I am also on the fence on whether I would even want to trade Chinese names, however it must be considered if they show significant accumulation and trend. So far they have not in my opinion.
$ASH a Chemical name had a nice setup and a strong pre-market volume. It also had a positive shake out in the last week or so testing the 200 Day twice with a strong bounce on the second time around. Some other notable names I've mentioned recently were $BMBL & $DOCN both of which are continuing to set up well for a longer outlook.
Trading day:
Identified in Pre-Market I took $ASH at $111.20.

Notice the higher than average volume on the day + RS + Price breakout. To me this looks like a positive name to be long despite the fade with the market late in the day.
Shell stayed largely flat for the day and $ZM. was all over the place but it's range is still very tight with the moving averages converging more each day. On a breakout from this point I would considering adding to my call spread position which is currently slightly in the green. Notice the volume dry up in orange.

End of day Thoughts:
As mentioned in pre market I certainly wish to improve my watchlists. They're pretty good but some fine tuning and ability to scroll through them quickly would help. I also want to develop my scans a bit more in TC2000.
Notes & Open Trades:
  • $SHLX - 5% Stock Position - Entry $14.39 - Stop: $13.80
  • $ASH - 5% Stock Position - Entry $111.20 - Stop: $104
  • $ZM - August 19th $150/$170 Bull Call Spread - Cost $1.49 per contract
Please note I operate my risk with options that I can lose 100% of the premium. This is the safest way to trade them in my opinion. Even if I cut at 50% once I am setup to lose 100% within my risk threshold then I will stay ahead of my required R:R.
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Top Gainers Today @ 10am
Top Gainers Today: $MSFT, $V, $MA, $BABA, $BHP, $BKNG, $JD, $FCX, $PDD, $DDOG, $RIVN, $GFS, $NIO, $CSGP, $ENPH, $LI, $TECK, $ZTO, $BEKE, $TER
Visit highsandlows.substack.com to see more

$MSFT - Microsoft Corporation - Software - Infrastructure - $2116.95B - %Chg: 5.67%

$V - Visa Inc. - Credit Services - $441.16B - %Chg: 9.88%

$MA - Mastercard Incorporated - Credit Services - $349.87B - %Chg: 8.21%

$BABA - Alibaba Group Holding Limited - Internet Retail - $234.87B - %Chg: 5.55%

$BHP - BHP Group Limited - Other Industrial Metals & Mining - $180.69B - %Chg: 5.03%

$BKNG - Booking Holdings Inc. - Travel Services - $89.83B - %Chg: 5.30%

$JD - JD.com, Inc. - Internet Retail - $83.80B - %Chg: 8.56%

$FCX - Freeport-McMoRan Inc. - Copper - $69.60B - %Chg: 5.70%

$PDD - Pinduoduo Inc. - Internet Retail - $46.68B - %Chg: 9.67%

$DDOG - Datadog, Inc. - Software - Application - $41.65B - %Chg: 5.30%

$RIVN - Rivian Automotive, Inc. - Auto Manufacturers - $29.78B - %Chg: 5.30%

$GFS - GLOBALFOUNDRIES Inc. - Semiconductors - $27.60B - %Chg: 5.40%

$NIO - NIO Inc. - Auto Manufacturers - $26.55B - %Chg: 6.23%

$CSGP - CoStar Group, Inc. - Real Estate Services - $24.52B - %Chg: 6.95%

$ENPH - Enphase Energy, Inc. - Solar - $24.13B - %Chg: 12.10%

$LI - Li Auto Inc. - Auto Manufacturers - $23.31B - %Chg: 7.00%

$TECK - Teck Resources Limited - Other Industrial Metals & Mining - $21.86B - %Chg: 10.41%

$ZTO - ZTO Express (Cayman) Inc. - Integrated Freight & Logistics - $21.77B - %Chg: 7.80%

$BEKE - KE Holdings Inc. - Real Estate Services - $18.10B - %Chg: 6.25%

$TER - Teradyne, Inc. - Semiconductor Equipment & Materials - $17.99B - %Chg: 5.63%
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Alberto Wallis's avatar
$8.5m follower assets
Upcoming Earnings Calendar (March 21st-25th)
Two heavy-hitters reporting next week: Nike and Adobe. Really interested in seeing what Nike has to say about supply chains after the recent events. Carnival Cruise and Nio should also be interesting. Full list of companies below.

MON:


TUE:


WED:


THU:


FRI:
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Eric's avatar
$10.7m follower assets
Sold $PDD for Loss
This was a basket play on China and the one I personally understood the least. I want to limit my exposure and felt the recent gains provided a good opportunity. Still took a -37% loss. Typically not a fan of basket trades and this was an expensive but valuable lesson.
StockOpine's avatar
$31m follower assets
🗞 on China
📌 China made a strong push to stabilize financial markets, promising to ease a regulatory crackdown, support property and technology companies and stimulate the economy.
📌 As per China's Vice Premier Liu talks between China and the US on foreign listings have made progress.
Markets are moving 💹💹
It will be interesting if their actions follow the lip service... Lot of room for a rebound if true
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Hedge Vision's avatar
$114.7m follower assets
Tybourne Capital to Return Investor's Money
Wow! I didn't expect this since Eashwar Krishnan is a veteran manager and ex-Lone Pine.

The fund's largest positions as of Q3 are

  1. $SE
  2. $MELI
  3. $PDD
  4. $BEKE
  5. $SNOW

The Hong-Kong based firm plans on shifting to a long only strategy and will continue private investments.

Here is a writeup I published on Tybourne during Q2:


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