Trading Journal
“First learn to trade then the money will follow!”
AAPL TRADE
As can be seen above, APPL’s price action seems due for a pull back to the parallel trend line on the daily timeframe.
Just checked that APPL’s earnings call was on 2 November 2023, and its list of news pieces on finviz.com.
My assessment indicates that there does not seem to be any foreseen possible surprises to the current price action; therefore, I will look to open a Short trade position into the stock tomorrow when the market opens.
Learning Point
- It seems that the best thing to do when staggering my entry into a trade is to first outline a 1:1 risk to reward ratio, then divide the risky part of the trade into equal parts up to the stop-loss level. Once I have completed this task, then I must decide the maximum amount that I am going to risk for the trade (1-2% Rule). Next, I must divide this total capital at risk equivalently with the total number of the equal parts to know exactly how much I should allocated to each position (purple line number 1, 2, 3, and so on).
Next Action
- Seek to place a 1/5 Short trade on AAPL as soon as the market opens tomorrow at 2.30pm.
NVDA TRADE
Similar to AAPL above, NVDA’s price action also seems due for a pull-back on the daily timeframe.
NVDA’s next earning call is on 20 November 2023, therefore, I do not expect this to have any affect on a possible short-term swing trade.
Next Action
- Enter a 1/5 Short position on NVDA as soon as the markets open tomorrow at 2.30pm.
- Before the markets open, formulate your current watchlist and systematically work through it accordingly.
IVG (Involgize)