Warrior Trading Blog

I Messed Up My Accuracy but Still GREEN! | Roberto’s Weekly Recap


What’s up, guys? Roberto here and welcome to a new weekly trader recap. So, coming off of two weeks, two consecutive weeks of 100% accuracy, I wasn’t certainly expecting this week to be as good, but man, it’s been really tough. Market has been kind of slow and choppy and I ended up, the week, taking nine trades in total with only two green. So, my accuracy really took kind of a big hit, but I was able to compensate with a very nice profit loss ratio and closing the week in the green anyway. So, let’s just jump over my shoulder and watch all the details about this week in today’s video.

So, first of all, guys, look at this. This is the overall picture of this terrible week in terms of accuracy. My accuracy was 100% and now it dropped, overall, to 46.15%, which I’m not particularly proud about, but on the flip side, my profit loss ratio was really, really on point and it compensates for this kind of lack of accuracy. So we came into this week with the four, all 100% consecutive green trades from last week, and of course, the picture here, overall, isn’t that pleasant and with that being said, let’s try to figure out what causes that, so that we could possibly learn something about this from my own mistakes, right?

So, personally, I will judge only really a couple of those to be real mistakes from my side when it comes to the overall appearance to my strategy. But, even having done a couple of those trades, normal green trades, it would have helped having better accuracy and some of a better picture for the week. So with that being said, let’s analyze this because the first four trades, guys, happened with the same name: AMD. As you can see it here, I haven’t made a single penny, so I haven’t made a single trade that was in the green on the name. So I took two trades on Monday and two trades on the same name on Tuesday, and man, it really looks like I did not learn from the first day. Here, I had a couple of red trades, and instead of leaving it alone, I insisted that the following day, and took a break even trade, another loss.

So here is definitely that will be something to learn from, so especially when you have a name that doesn’t work, at least for your strategy, you shouldn’t insist too much. You shouldn’t force any of the trades in the same name, right? So that’s my lesson learned there, but just jumping in and I’ll analyze a little bit more about the technical on the trades both on the tenth and on the eleventh of June.

So when it comes to last Monday, here we are, so we were gapping up into Monday and we were looking strong, but also we were kind of going into big resistance. So we’re going to be persistent here, as you can see clearly from the daily, which is in the bottom right corner, by the way this is the layout I am using for the training view, if you guys are interested to have the same, just go ahead and click on the link in the description down below, make sure you subscribe to the training view package whether it’s a pro plus or a premium, and then you can personally email me and I’ll be sending you this exact layout that works so hard to even code some useful technical indicators for. So if you guys are interested, just make sure you click down below and then you can subscribe there and you can email me for getting my exact layout for free.

All right? So with that being said, let’s jump in and analyze this. So AMD were gapping hired, gapping hired into resistance. So we can see clearly on the daily if we zoon in, it was here, of course, it was a big area of resistance that held last time, last September here, and so I wasn’t certainly expecting it to be going through this 34, 20-34 area, so easily, so instead I was looking to eventually, for it to eventually reject it and give us a very nice short read, right, [inaudible 00:06:12].

So that’s what I ended up doing, but as you can see here the action’s been quite choppy. So as usual I waited for the first ten minutes to give me a sort of direction. I really wasn’t sure about what to do, of course, after the first three minutes closed because I was even looking, eventually long about 34. But, as you can see, I ended up here playing into the short side, played through the short side, I went short here when it cracked the lows and as we can see here, first time I got feel at 33-48, which was a nice, kind of a nice feel, and man, this thing started working quite nicely and then boom: it reverses on me and I really, really, I got stuck about here like a top tick of this push back above of the resistance level and then I was, I was a little bit pissed off because this thing just turned around and actually went the other way. No sorry I made a mistake, this time my stock price area was 33-71, which was the high that I just showed you from the preview scan book.

But I ended up closing it at 38-58 when this thing really, so let me actually show it to you on a visual way. So I went in at 38 for 33-48 and I had my, kind of a first target down here in the 33-20s area and so as soon as I get in, this thing started selling off and instead of it reaching my first target I was waiting for here at 33-20s, it just came back and pushed back up. Pushed back up and made this, this three minutes reversal candle here, and so I was ready just to jump out here 33-58 at the higher of the same candle when this one opened and started shoveling some [inaudible 00:09:01] so I ended up stopping it out here 33-58 so I actually leaned into the damage which was okay to do, and I waited for it to present a new opportunity.

And so I ended up taking a three minutes continuation then a 33-23 and I even went with a little bit higher size because my stock was closer than it was under my first try on it, so I ended up giving it a shot here at this three minutes formation when it came back out, so it flushed to new lows. So it kind of confirmed that it could go lower and then as soon as it formed a new three minutes here bar flat, I just jumped here short, I jumped here short at 33-23 with a stop just right above this [00:10:09] here at 33-40, right above the 13 [DMA 00:10:15] and of course, instead of it continuing down, which actually ended up happening on the future base, this thing got balled up and it pushed back higher and this top out here at 33-40 once again.

So overall, I’ve got to be honest with you, I did really follow my plan so these two were losers, but I was feeling kind of okay with those. Of course whenever you have losers, you never celebrate those too much but I was okay with those. I did [inaudible 00:10:51]. But, where I missed up was the following day.

Following day, I really messed up first because of this reason: the name of AMD was not in my watches. Prior day I put in my watches during my stock selection phase, which is really important. I really only trade, in 99% of the cases, only the names that are in my watches. I ended up not doing so on AMD and instead of me sitting tight and not taking any trade that Tuesday, just because the names that I had in my watch didn’t present any good sell up.

At the open, right at the open, AMD just flashed. It flashed back down and so I feel like a genius when the day before, and instead of me just sitting tight and accepting the fact that I wasn’t trading it well the previous day so I shouldn’t even try to take a trade on it on Tuesday, I ended up giving it a shot, and my entry was just kind of terrible. I entered here at 32, I entered here the first time at 32-70. So I entered here 32-70 on this one candle for 3 minutes, for 3 minutes continuation, which by itself, wasn’t that bad, but I guess looking at it now, of course it was kind of standard. It was on the yellow area here of extension, which for AMD, which is kind of a large cap stock with a big float, it’s already a considerable extension. So this 3 minutes was not so good even technically, but as I said, this name should not have been on watch in the first place.

So my bad call was trying to give it a shot, but at least the first time I tried it, this thing kind of stopped flashing, and then [inaudible 00:13:26] and I just jumped out, break even. I didn’t like the fact that as soon as this thing stopped flashing it got right back up.