Day Trading Journal

  Click for trade breakdown on 𝕏 🟢Options Trading $SPY [-19% +1% +21%] 11/19/24 #DayTrading #OptionsTrading pic.twitter.com/6JbEDJFSq3 — Helixtrader36 (@helixtrader36) November 19, 2024

  SPY 1-minute chart 11/18/24. Day Metrics { 1 } Win { 0 } Losses Day Rating: INEFFECTIVE Overview There was no significant economic news released today that could have the potential to move the market. Following yesterday's sell-off, SPY's price is bouncing off the lows. We formed some intra-day reaction zones, but the price action is a slow grind upwards. Trades [1]   RZ Reject Entry:  I missed the opportunity to get in on the grind upwards, so I remained highly patient for either a pullback or a reject entry. I waited and was able to get into an entry at the upper reaction zone. Exit: Price continued to want to grind up, so I managed to lock in some gains before the price continued upwards. 🎥 Trading Session Recording 🎥 on  𝕏 -or- Review/Next Steps I completely missed the entry for a RZ bounce or the (-) TL Breakout Bounce. I was too slow to adapt my thinking. I waited patiently for the lower (-) TL Breakout Bounce/ VWAP Re-test, but that never came, so I ...

Introduction to Day Trading Systems Seconds can mean the difference between profit and loss in day trading, especially when trading options. This makes the need for a structured approach or system not just advisable but critical. In this post, I explore why a trading system is indispensable for day trading success and how trading psychology plays a pivotal role in its efficacy. The Foundation of Consistency Systematic Decision Making Trading without a system is akin to navigating a ship in the open sea without a compass. A trading system provides a consistent framework for decision-making. It outlines clear criteria for when to enter or exit trades based on objective metrics rather than subjective feelings. This reduces the chaotic decision-making under pressure, leading to more predictable and repeatable outcomes. For example, a system might specify that a trader enters a long position when a stock breaks above its 50-day moving average on high volume and exits when it falls below a ...

Introduction Many focus on strategies, market analysis, and technology in the high-stakes, fast-paced world of day trading, where a decent amount of money can be made or lost within minutes.  However, there's an often-underestimated factor that significantly influences success: mindset .   Today, let's explore why mindset is not just an accessory but a fundamental pillar of any successful day trader. Emotional Regulation Day trading is emotionally taxing. The market's volatility can stir emotions such as fear, greed, excitement, frustration, and disappointment. Discipline Over Emotion: A trader with the proper mindset practices discipline over emotional reactions. Decisions should not be driven by momentary highs or lows but by a strategic approach. Stress Management: The ability to stay calm under pressure is paramount. A mindset geared towards resilience helps traders manage stress, reducing the likelihood of panic selling or impulsive buying. Risk Management Risk manag...

Introduction Choosing the right broker for options trading, especially for day trading, can significantly impact your trading experience and success. Here, I compare Robinhood and Fidelity, two prominent players in the brokerage world, focusing on their options trading capabilities, user experience, and which might best serve day traders. I have used both and am currently utilizing Robinhood's new day trading platform. Trading Platforms ROBINHOOD: Platform: Robinhood offers a streamlined, user-friendly mobile app with a straightforward interface designed for simplicity. The desktop (website) version is less comprehensive but still functional. However, Robinhood's newly released online trading platform (October 2024), Robinhood Legend, targets active traders with advanced charting tools, real-time data, and customizable layouts. Options Trading Features: Commission-Free Trading: Robinhood made headlines with its commission-free trades, which include options. Options Chains: Use...

SPY 1-minute chart 11/15/24. Day Metrics { 2 } Wins { 1 } Loss Day Rating:  EFFECTIVE Overview At 8:30 AM ET, the U.S. Retail Sales for October were released. They showed a modest increase of 0.4% from the previous month, aligning with market expectations. However, core retail sales, which exclude autos, were up by only 0.1% against an expected 0.3%. SPY's price did not move in reaction to the news. However, we gapped down from the previous day and are in a downtrend. Trades [1]   RZ Bounce Entry:  Since we already had a significant gap down and started to push up from a pre-market low, I wanted to re-test the reaction zone and enter calls for a bounce. Exit:  I anticipated too early and gave it too much time before cutting losses. The bounce area was lower than I was willing to hold. [2]   (-) TL Reject Entry:   SPY's price bounced decently, so   I waited for the test of the (-) TL. Exit:  I was rewarded with a firm rejection in my favor. I locke...

Dogecoin (DOGE) started as a playful parody of the cryptocurrency rush, but over the years, it has become one of the most talked-about digital currencies. This blog post delves into Dogecoin's history, explores its similarities and differences with Bitcoin, and discusses recent events that have influenced its volatility and value. The Birth of Dogecoin Launched in December 2013 by software engineers Billy Markus and Jackson Palmer, Dogecoin was created as a "joke" cryptocurrency, satirizing the wild speculation in the crypto market at the time. It was inspired by the famous "Doge" internet meme featuring a Shiba Inu dog. Unlike Bitcoin, which was created to be a serious alternative to traditional money, Dogecoin aimed to be more accessible and fun, fostering a community spirit with its slogan "the people's currency." Similarities with Bitcoin Dogecoin and Bitcoin operate on blockchain technology, ensuring secure and transparent transactions. Initia...

SPY 1-minute chart. Day Metrics { 2 } Wins { 2 } Losses Day Rating: INEFFECTIVE Overview At 8:30 AM ET, some economic news was released : initial jobless claims and the  Producer Price Index (PPI). The initial jobless claims reported today were 217,000, which was better than expected and suggests a stable labor market.  The Producer Price Index (PPI) for October showed a year-over-year increase of 2.4%, slightly higher than the anticipated 2.3%. This indicates a moderate rise in producer prices, with core PPI also rising by 0.3% month-over-month, which aligns with expectations. In reaction to the news, SPY's price was choppy with a moderate downtrend. However, my system had several opportunities for entries. Trades [1]   (+) TL Bounce + RZ Bounce Entry:  Price already had two big red candles entering the (+) TL. I gave it a shot. Exit:   As soon as I got in, I had a slight gain in my direction, and I tried to exit but was not filled in time. ...

As mentioned in my previous blog post, How Much Money You Need To Make $100: 6 Trading Sessions For Inspiration , I will continue to push my trading to the next level, and I invite you to join me as I explore, develop, and share my vision of day trading. I am scaling up my position sizing while narrowing my focus. ONE SYSTEM My system has been under development ever since I commenced full-time trading in October 2020. There have been several iterations and pivots, but the system utilized today briefly entails the following: Process for taking profits/losses. Process for recognizing trading setups/patterns. Process for determining system invalidation. Process for mitigating system interference. Process for system-wide failure. It is not just price action but also psychology that plays a significant part in the system. ONE SETUP I have narrowed my focus on Reaction Zones (RZs), specifically RZ Break Re-tests. These include two forms: RZ Breakout Bounces and RZ Breakdown Rejects. This set...