Irish Born Investor's avatar
$16.4m 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.
post media
Zack Morris's avatar
$13.2m follower assets
ARK's open-source Zoom Model $ZM
ARK last week published their open-source Zoom model on Github and accompanying blog post explaining their assumptions.

First, I love that they publish these open-source models and invite feedback. I generally find them quite insightful and, contrary to popular belief, not exceedingly fanciful.

Their Zoom model is no different. I'm a Zoom bull (at current prices of ~$100/share) and have an ultra-conservative bear case fair value estimate of $125 on the stock.

My two biggest pushbacks on their model assumptions are:

1) They assume 75% of knowledge workers will be hybrid/remote by 2026, up from 51% in 2021, a period when seemingly the vast majority of knowledge workers globally were forced into hybrid/remote work environments due to the pandemic. Since in seemingly best-case-scenario conditions for hybrid/remote work, penetration still only reached 51%, what gives them such confidence that as those conditions subside, penetration will nonetheless grow to 75%?

2) A significant portion of their base-case 2026 ARPU estimates come from Zoom IQ and future AI-enhanced products and services. I agree that Zoom IQ seems like it has the potential to be a great product, but do we have any evidence yet that it works? For example, sales teams adopting Zoom IQ reporting an increase in conversions and/or efficiency?

What other future AI-enhanced products and services do they have in mind? Simply assuming brand new products and services is too aggressive for a base-case, in my opinion.


What does everyone think about the model/model assumptions?
This is awesome commentary on Ark's open source model— I agree that in a base case its a good idea to make your assumptions as reasonable and well-defined as possible. To say "New products" but not have many tangible ideas of what those are is too optimistic.
View 2 more comments
5 Ways Weekly Charts can help your Trading & Investing
Weekly charts are a powerful timeframe, and regardless of your style, they can help you gain perspective on a particular setup and identify its potential

Using higher timeframes slows the action down and allows you to calmly analyze price and volume.

This will lead to better decision making.

For investors learning to analyze weekly charts and their trends can only complement your fundamental analysis.

For traders they are the "prevailing wind" and trading with this weekly trend will increase probabilities and help you remember to focus on larger patterns

  1. Weekly Charts show the True Trend of a Stock

Weekly charts eliminate a lot of the back and forth that occurs intraday and on daily charts. What is left is often a clear picture of the trend of a stock.

⬆️ Trending Up
↔️ Basing
⬇️ Trending Down

To identify this trend you are going to want to plot a 10 week SMA and a 30 week SMA on your charts

During a strong uptrend you will be amazed at how well the 10 week line acts as a guardrail for a stock's move

$ZM increased 450% in 10 months, undercutting the 10 week only once

This is not simply a 2020 occurrence. Most stocks which make significant moves > 100% show respect for the 10 week line.

This is because it is often a spot where institutions build/add to positions on pullbacks.

$DOCN advanced 150% in 6 months holding the 10 week sma

The same is true if you look back at the best performing stocks in history. The 10 week sma is consistently an area of support.

Here's is $HD's powerful move in 1981

The red line is the 10 week SMA.

The 30 week moving average is just as useful for investors and traders for identifying the stage of the stock

Stage 1 - Basing
Stage 2 - Advance
Stage 3 - Consolidation
Stage 4 - Distribution

The big money in made during S2 Uptrends and the big money is lost in S4 Declines

  • S1 - Price chops back & forth around a declining to flat 30 week MA
  • S2 - Starts with a big volume breakout from a base, Price starts trending above a rising 30 week MA
  • S3 - Price chops around a flattening 30 week ma
  • S4 - Price starts trending below a declining 30 week MA

Stage Analysis, developed by Stan Weinstein, shows the long term trend of any stock.

Both investors and traders should focus on stocks beginning or in Stage 2 Uptrends.

My Interview with Stan Weinstein: https://youtu.be/FtAshnE3MwM

  1. Weekly Charts reveal the footprints of Institutions.

Institutions can't hide when they begin and continue accumulating positions.

Look for.

✅ Huge Volume Spikes
✅ Tight Weekly Closes
✅ Increasing average weekly volume

Look at the chart of $TSLA since 2019. Notice how breakouts from bases are accompanied by volume well above the 10 week average, & within bases volume dries up.

Look at significant volume weeks and determine based on context and CR if a stock is being accumulated or distributed

$SNAP is a great example of tight closes within a base suggesting institutions drew a line in the sand and were accumulating shares.

Also look for this after a breakout to see if institutions are still building positions

$FUTU is an example of weekly volume increasing during a move. As it does this the stock becomes more liquid and larger institutions can get involved.

  1. Focusing on Weekly charts reminds us that the biggest moves come from larger patterns.

100% + moves begin with a long basing period and a strong breakout.

Focus on 👇

✅ Recent IPOs after their first big base
✅ Mature names after they have consolidated

$NVDA has had multiple moves out of long basing patterns. This allows shares to fully transfer from short term players to longer term institutions

Recent IPOs often start long term moves out of their first primary base.

Read "The Lifecycle Trade" for more info 📘amzn.to/3n5epJR

  1. Weekly Charts Remove the Noise. Limit Decisions

As mentioned previously, weekly charts remove intraday and daily chop. The stock can move a lot throughout the week but it is the institutions who control where it closes.

The weekly action and trend supersedes the intraday and daily movements of a stock.

Always make sure you are stacking probabilities and trading with the weekly trend.
For investors, Weekly Charts are a great way to use technical analysis and time trades since there are a lot less signals to work with.

Position and even swing traders should also consider buying on a daily chart but then switching over to a weekly once the trend is established

This is especially helpful after a significant correction when trends can last a lot longer than we think and daily noise can scare us out.

Here's an example with $PTON buying on the daily and then managing the position on a weekly.

When the weekly trend changes PAY ATTENTION.

  1. Identify Key Levels and Pivots

Weekly chart highs and closes are excellent pivots to use on a daily chart for shorter term traders.

Inside weeks especially provide clear pivots for swing traders. These are volatility contractions on a lower timeframe.

Trading off weekly levels is a great way to improve the probability of a trade working since the weekly players are involved as well not just the daily and intraday traders.

I hope you all found this short article helpful!

If you did please Upvote, Repost, and reply with your thoughts

Also tag anyone else who you think would find it interesting. Take care!
post mediapost media
Great post Richard, I’ve moved a lot of my work to weekly charts now since reading Weinstein. It has given me a lot more mind space and clarity. I used to be engrossed in 5 and 15 min charts but now the lowest I’d go is a H1 and that would be rare. It’s all weekly and daily.

One question regarding the moving averages do you have any opinion on using 10EMA & 30EMA rather than Simple? I know it probably doesn’t matter overly but I find it hard to see a definitive thought on it.
View 9 more comments
Irish Born Investor's avatar
$16.4m follower assets
9th 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: No trades were made yesterday 8th June 2022.

Still optimistic going into today. Market still in a tight formation with plenty of setups looking decent. CPI Numbers tomorrow will likely move the market one way or another.
Pre Market Work:
Reviewed some charts this morning. Nothing too taxing. Added $OLPX to my focus list with a nice setup on a recent IPO. In Stan Weinstein's book he describes recent IPO's being different in terms of analysis. Overhead resistance is not as important. I like the accumulation here as pointed out and the volume dry up the past few days.

I also had an interesting discussion with @europeandgi today about one of his holdings, $XOM. The stock has advanced quite a lot and we were discussing whether it would be a good idea to sell some calls against the position as a form of hedge. The stock is right at the cusp of All Time Highs. Despite being somewhat extended (Up almost 240% from Oct 2020) it is showing phenomenal RS (Relative Strength). I crudely drew what I would like to see it do to be very bullish. Essentially what I drew is a VCP Pattern (Volatility Contraction Pattern) coined Minervini but a pattern of supply vs demand that has been visible in stocks going back 100 years. It is quite noticeable in the highlighted area from 2021.

Long story short, to me, the stock is still very bullish technically and with some healthy consolidation could easily push much higher. Figuring out tops perfectly is impossible but one can use the weight of evidence to ride their winners as long as they can.

Lastly I identified $SPOT as a nice looking short setup if the market turns sour. I would consider getting short on a break below around $110. With a target of $90.

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

Trading Day:
I bought $OLPX about an hour into the market today. After a soft open I saw it advancing. I have posted the Hourly chart below for some context on where I bought. Unfortunately we pulled back but it remained relatively strong until late in the day when everything really pulled back. My stop is at $13.80 so there is still plenty of space for it to gyrate.

End of day Thoughts:
The market dumped into the close. I have moved to caution. My positions held up relatively well but if the market is on not on my side then my positions will go nowhere. Tomorrow the CPI print will likely decide a direction. If we continue to dump tomorrow I will cut my positions and go back to cash.

I will be reviewing my trades somewhat. I think I might be jumping in that bit too early at the moment in terms of entry. Trying to gain that extra few cents when I should probably be waiting for more proof that the breakout isn't failing. I don't want to read too much into it considering conditions and only a few trades as sample size but it's something I am aware of.
Notes & Open Trades:
  • $SHLX - 5% Stock Position - Entry $14.39 - Stop: $13.80
  • $ASH - 5% Stock Position - Entry $111.20 - Stop: $104
  • $OLPX - 5% Stock Position - Entry $16.80 - Stop $15.80

  • $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.
post mediapost media
Irish Born Investor's avatar
$16.4m follower assets
7th June 2022 - Trading Journal
Today's trading journal is brought to you by IBKR. I use IBKR as my main brokerage for both investing and trading. The ability to be able to easily set up sub accounts within my main brokerage and transfer funds between them is one of my favourite features in Interactive Brokers and allows me to easily track and switch between my Trading Acc. vs my Investing Acc & my Son's account! You can check out the platform here.

Situational awareness:
Still cautiously bullish with the indices chopping sideways and building energy for a big move. Each pull back is holding short term moving averages (10/20MA). It seems to me we are setting up to test the 50 Day MA area. What happens after that I have no idea.
Pre Market Work:
I spent my pre-market time today reviewing some of my watchlists and deciding how I would clean them up a bit. As has happened to me in the past, I've been missing a few setups and breakouts that I had identified by not tracking them effectively.

I need a much smaller FOCUSLIST along with a tiered Watchlist system. Also I have become a little frustrated with some aspects in TradingView, sometimes I realise it can be a bit "retail" when it comes to wanting to scan and see some additional information that is useful for a trader. Which is a pity because I love using it to look at charts. As mentioned previously I also use TC2000 which is a much more powerful scanner for a trader. I've decided to move the bulk of my watchlists over there and make use of that platform more whilst continuing to use TradingView for lighter work. See the platform below:

​Note I have Created "FocusList", "Watchlist", "Tracklist". I will use these tabs to try to rank my setups and stocks I am monitoring.

Trading Day:
No trades for me today. Just monitored my positions. Nothing to worry about going on in my opinion with my holdings and a nice powerful move by $ZM. I did not add to the position but may consider doing so if the week continues strong. $ASH had a breather day and $SHLX is still looking solid.

$CELH stood out to me today as a stock that could be getting ready to move upward if the market has a sustained rally.

We are sitting right at the 200 Day MA which is flat. Definitely one to watch.
End of day Thoughts:
Improving your system all the time whether for trading or investing is very important. Consistency in your process and routine helps create balance and in turn feed the potential to make good decisions on a regular basis. This can take the form of a journal, a notebook, checklists, reminders. Whatever it is try to improve slightly every day and every week in all aspects of life. That is what I am trying to do.
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.
post mediapost media
4 Stocks I'm Holding Forever
I recently wrote about four companies that I plan to hold forever thanks to the long-term megatrends working in their favor.


A key takeaway for each:

$TTD: $NFLX turning to ad-supported streaming strengthens Trade Desk's incredible potential as it looks to dominate digital advertising.

$ZM: Zoom's optionality is finally taking shape, with its younger, non-Rooms products now accounting for over 10% of total revenues combined. Still very early -- but promising.

$DOCN: DO gets option-like potential from its customers as it joins them in their infancy and grows alongside them. Due to their massive size, $AMZN, $GOOG, and $MSFT don't usually touch this startup and small business niche.

$SEDG: If ever there was a company with clear megatrends working in its favor, it'd be SolarEdge. With solar power generation expected to 9x by 2050, SE's leadership position making inverters and power optimizers makes them critical to this expected growth.
Which stock will perform the best of this group through 2040?
20%SolarEdge
5%DigitalOcean
30%Zoom
45%Trade Desk
20 VotesPoll ended on: 06/10/22
Irish Born Investor's avatar
$16.4m 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.
post mediapost media
Irish Born Investor's avatar
$16.4m follower assets
Remember “The Price to Sales ratio on that is crazy!”
This weekly chart shows how using Weinstein analysis you would have ignored people complaining about high P/E Ratio at A,B,C,D & E. Your only sell signal would have come at F.
The example shown: the P/E Ratio was 16 at the buy, 24 at point B, 20 at point C, 33 at point D & 28 at point E.
Easy comparison to many stocks in 2020/21 just use P/S ratio instead.
These ratios don’t matter until they do. They can expand and expand. There are so many times in 2020 when I sold a stock because it had gotten too expensive, I remember $ZM as an example where I sold it at about $170 only for it to go to $588 high!
By using the exact rules shown below I would have sold $ZM at about $360 on the way down at the latest.
Worth thinking about. Reminder this a weekly chart so it likely takes in quite a length of time.
Especially for those he speak about holding for 3 to 5 years. What exactly is your exit strategy? Because by the time the fundamental issues become clear the stock will likely be already dead and buried.
post media
Great post/resource. Thanks for sharing

In the lessons I’ve learned and observed in the last 2-3 years, Buy and hold work well over the 3-5 years if:
  1. Either you are concentrated in businesses you know really well (eg Buffett approach)
  1. or diversified in over 25 - 50 stocks:
2a. follow strict position sizing rules
2b. have a steady income to add to the winners(fundamental business growth, not stock winners - eg when $ZM hit $500, it didn’t classify it as a winner…people were projecting out crazy numbers without factoring in competitive options for video conferencing or many large companies going back to the office and traveling)
2c. You build your own convictions, don’t just add every time a new “top buy now” email is released 🤪 refer back to 2a!



View 3 more comments
Irish Born Investor's avatar
$16.4m follower assets
31st May 2022 - Trading Journal
Situational awareness:

Monday's Futures gave people the hope that the rally was going to go strong unfortunately uncertainty and inflation numbers out of Europe stamped that right out today. What I want to see was that red open and a power to green. That would be super bullish.

Pre Market Work:

Went through a lot of weekly charts this morning, identified some nice setups and interesting stocks to watch.

I also added a new indicator to my charts. I like charts to be as clean as I can have them and have binned any notion of using stochastics or MACD indicators. I'm sure some people love them but for me they just provide an extra layer of information that I don't believe is needed. Price & Volume are the main things to look at. I use Moving Averages as a guide of where price is converging, they are useful to visualise that. However, since reading Stan Weinstein's book, Minervini & O'Neill I wanted to add some form of RS (Relative Strength) indicator to my charts. I have tried several community built ones and found them too cumbersome or complex. Over the weekend a great trader on twitter TAPLOT released a very neat TradingView Indicator (for Free). It's exactly what I've been looking for and is perfect for my needs.

I also changed over my Volume indicator to a more customisable version from TraderLion. It allows me to color code volume. Orange means volume drying up, light green normal up, light red normal down, dark red heavy, dark green heavy etc.

None of the above is necessary but it's nice to tweak your setup every so often.

Favourite setup this morning was $SBLK & $INSW both of which are shipping stocks. Charts below ($SBLK after open).

Also a very interesting chart worth watching is $EXFY big volume after earnings and powerful move brewing it seems. It also completely ignored todays market and stayed strong. IPOs should always be monitored, the next big winner could be a recent IPO I make a point now to search stocks that have IPO'd in the last 12/18 months. These stocks have no real overhead supply and after they base can make explosive moves. I'm not suggesting $EXFY is going to be a big winner, I don't know. But certainly the volume and move has caught my eye to monitor.

Trading day:

The $QQQ faltered and didn't go the way I wanted however $SBLK was very strong from the open and I took a position at $33.47 using a break out of the opening range for entry. I placed my stop just over $1. below at $32.40. This is a tight stop but considering the market conditions I wanted this trade to give me padding on day one or get out. All of these Shipping stocks are setting up but the trade is long in the tooth also so prudence is necessary given the conditions. I was stopped out just barely, but stopped none the same. Again I'm fine with this the market is not convincing so I will conserve for a better moment.

My $NOC position also took a knock today! I was stopped out. You may remember I raised my stop a few days ago so the loss was very small. This trade may still work but in Minervini's book he always mentions he wants the trade to work straight away for him and if it doesn't then something is wrong, either his timing or the setup. It wicked nicely today, however and I have it back on my watchlist for a future trade. One thing I did not like today was the high volume on the shakeout this would give me pause.

My $ZM position is still open. The call spread is working well and hedging me nicely in the pull back today. The position is down 9% at the moment, which is very small considering the stock moved 2.7%, the short call doing it's job. It should also be worth noting that as this position is a leveraged position it is much smaller in dollar terms than a stock position so my risk is small even if it goes to zero. Always be on the right side of position sizing and Risk Reward! Right now I don't have a concern with the trade, still nicely above the 50 day with light volume today but if the market continues to deteriorate I will need to consider cutting it. For now I still like it.

End of day Thoughts:

The market caught a lot of people today, Even though I stopped on two positions I am patting myself on the back.

  1. Because I did not take the $QQQ trade last week that I felt was chasing. In the past I'd have taken it no matter what. You could feel the chase on Friday and that's not good. I outlined what I wanted to see Friday and it didn't happen. I took a better trade in $ZM in my opinion.
  2. I adhered to my stops today in $NOC & $SBLK. If the market was right these setups would fly. I am confident of that. I am not going to fight the market or become frustrated with it. I am happy that my R:R is perfectly in tact and I took minimal losses.
  3. My workflow is going well. I'm getting a better shape on my watchlists and process. Process is very important for a trader. How you go through charts is key, you cannot just pull them from mentions on twitter, in order to get conviction you must work out the trade yourself otherwise you will get lost at sea without a paddle. This applies to investing also.

Notes & Open Trades:

  • $NOC - 5% Stock Position - Entry $464.50 - Stop: $459(STOPPED)
  • $SBLK - 5% Stock Position - Entry $33.45 - Stop: $32.40 (STOPPED)

  • $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.
post mediapost media
Love this series you are doing over here. $SBLK are on my watchlist but still has some way to go for me but I agree with your sentiment about the market conditions. To me $EGLE looks a good candidate, broke through strong resistance with nice volume. If we get some follow through today I might look at opening a position with a tight stop-loss. Minervini has me hooked 😂😂
View 1 more comment
Next
Commonstock is a social network that amplifies the knowledge of the best investors, verified by actual track records for signal over noise. Community members can link their existing brokerage accounts and share their real time portfolio, performance and trades (by percent only, dollar amounts never shared). Commonstock is not a brokerage, but a social layer on top of existing brokerages helping to create more engaged and informed investors.