Daily Trading Report — 2026-01-22

2026-01-22 · 4 min read

A qualitative run-through of every trade from 2026-01-22: setups, thought process, and outcomes.

Running P&L for 2026-01-22

Day P&L: $-661.43 | Total R: -1.54R

The first trade of the day set a solid tone. I took a long position in CMCT at 3.93 after a sharp drop, recognizing it as a washout long. The stock bounced off that key level, and I exited at 4.00 for a small gain of about 0.27R. It felt good to see that initial move hold, giving me confidence going into the next trades.

Continuing with CMCT, I saw further strength and entered again at 4.86. The stock had a nice setup, and I was able to ride it to 4.98, capturing 0.36R. Then came the real winner; as the market opened, CMCT formed a bull flag around 4.80, and I jumped in at 4.81. This time, I got a nice push to 5.09, netting 1.91R. The tape showed solid buying pressure, and it felt like I had a good read on the momentum.

However, I got a little too aggressive with SXTP. I tried to catch a washout long at 5.60 but got caught in a squeeze back down, losing 0.26R. I made a couple more attempts on SXTP, but the tape felt choppy. Each entry was a bit forced, and I ended up taking a few hits. The stock had a lot of volatility, which made it tempting, but I should've stepped back when I noticed the lack of clear direction.

The turning point for SXTP came when I entered at 6.78. This was a reclaim of the sub VWAP, and I managed to ride it to 6.97 for a 1.36R gain. Unfortunately, I then chased back in at 7.50, hoping for a quick bounce, but it reversed sharply, leading to a hefty loss of 3.10R. This was a classic case of revenge trading, and the tape was not supportive at that level.

After that, I shifted gears and started looking at NAMM, which had a lower float and was showing some relative strength. I caught a few quick scalps, and although most were small wins, they added up to a decent recovery. The stock was trading around 3.80, and I saw some consistent buying pressure. I made a few good entries and exited quickly, leading to a couple of solid gains. However, I also had my share of losses in scalping trades, which can be frustrating when you're trying to find your rhythm.

In the later part of the day, I went back to CMCT for a couple of sub VWAP traps, but I was a bit off on my timing. I took some losses that I could have avoided if I had been more patient. The market felt heavy, and I should have recognized that sooner. The action in the broader market was mixed, with real estate and healthcare names showing up a lot but lacking the consistent volume to sustain moves.

Reflecting on the day, I see where I made some good calls, particularly on CMCT early on. But I also overtraded SXTP and chased a few setups that didn’t have the tape support I needed. The volatility was tempting, but it led to some unnecessary losses.

What I did well:

Identified and executed on high-probability setups, particularly with CMCT.
Took quick scalps on NAMM that contributed positively to my P&L.

What I did poorly:

Overtraded SXTP, leading to forced entries and significant losses.
Chased trades without proper confirmation from the tape, especially in the latter half of the day.

Trading grade: B. I had some strong entries and managed risk well on the winning trades, but I let emotions dictate a few bad decisions that cost me.

Tomorrow, I'll focus on sticking to my setups and avoiding the urge to chase. Patience pays off, and I need to remember that.