- Price Action & Volume
- Journaling the journey from an amateur to a professional swing trader
- Qullamaggie Breakouts
- Process only
- No recommendations
Takeaways :
1. Proper setup selection still lacking
2. The environment this month was a quick profit taking one, only 40% of good setups reached 4R from 2R. Need to adjust profit booking system based on the feedback.
Stats from June :
- Trades = 50
- EV per trade = -0.4%
- Good setups = 17 (34%)
- Win ratio = 30%
- RR Ratio = 1.81
- 2R = 30%
- 4R = 40% of 2R trades
- Good setup & 2R = 59%
- Good setup & 4R = 40% of 2R trades
Bad Trade Gallery :
Supriya
- The consolidation is too wide, it needs a lot of time to mature
- Too many higher wicks
- No higher highs, higher lows structure
Qullamaggie says he only studies winners.
Munger said to always invert.
It's our job to combine the best ideas.
Bad Trade Gallery :
Diacabs
- The consolidation is too wide, it needs more time to mature, we should strive for a consolidation of 1-3 weeks at least
- Too many higher wicks
- Volume contraction hasn't happened properly as well
@TheTradeScout That is why I am focusing solely on Qullamaggie style BO trading.
Just 6 months experience in the market, which is not favorable to this style obviously, just sharpening myself for when the clear trending market begins.
Breaking even as a beginner even in adverse conditions.
Clean trades from June :
Acmesolar
+2.5R(trailing 75%)
- Strong prior upmove
- 10, 20 & 50 SMA all sloping up
- Tight consolidation around key SMA
- 1 to 3 week consolidation(10 bars)
- Strong volume on the breakout
- Clean price action, bounced right off the 20 SMA
Bad Trade Gallery :
Supriya
- The consolidation is too wide, it needs a lot of time to mature
- Too many higher wicks
- No higher highs, higher lows structure
Qullamaggie says he only studies winners.
Munger said to always invert.
It's our job to combine the best ideas.