Day Trading Examples and Review
Share your interesting trades and your thought process.
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RECENT POSTS
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By jamreb@gmail.com · Posted
Welcome alexander.razmadze and Destiny! Yeah, there was an official meetup last year. Maybe it's time for another one though... If it's not time for a full on official meetup, maybe we can do a mini meetup. I work in Concord, and am available late Friday morning / early afternoon, or just about any time on the weekend except late Sunday afternoon/evening. Maybe we can find a place that's central to all of us... -
Mark, Below are my additional rules to trading the ORBs. 1. Do not trade against the trend/gap 2. Do not trade doji ORBs 3. No trades after huge 5min candles 4. Best trades are after price pulls back before breaking the OR 5. No trades in front of big levels (daily, MAs, VVAP etc) 6. No trades on slow movers 7. No trades in the directions of big wicks 8. No trades on choppy stocks 9. Be very selective. Remember it is okay not to take any trades. I used to take trades whenever there was any break of the ORB and had some big winners but also a lot of losers. So I was close to break even. Now with these rules everything has improved. I take way less trades and most of them are winners. I miss a lot of big moves but I am okay with that because I know that a lot of those "big moves setups" would end up being fake outs and at the end I would end up break even. What also changed is that I used to trade anything market threw at me and now I feel like I am in control of what I want to trade and that is very empowering. Hope that helps. Please continue posting it is a great source of knowledge. Thanks Simon -
It’s great to see you have the discipline NOT to trade (force a trade). That is my biggest struggle. -
February 21, 2019 - Nothing today I had $CAR, $CGC, and $MU on watch; however, nothing met my criteria. $MU had a nice Bearish engulfing crack and $CAR had a great double bottom. Sample Set Results P G S G S 6 7 8 S S 11 12 13 14 15 16 17 18 19 20
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Thursday February 21st, 2019 Sleep: 7.5 hours. Mood: good, ready to trade. first trade was a 2min ORBD on VIPS. got a good entry but I sold on fear half at a marked level. My initial plan was to get to the even $6.00. it stalled around $6.05 then i went to get out, accidently added more (another hotkey error) and then got out of everything. it did end up hitting my profit target. GOOD: setup was good RFI: fear selling and hotkey error MOOD: good CONSISTENT: no not really. Next trade was a double bottom reversal in VIPS. i was waiting for an entry at 9:58 but then it sold off all the way back to the $6 level so i looked away at CAR and when i checked back it jumped on me. I did chase the entry but the R/R was still favorable so i hopped in and added more to make 100 shares even, i was confident in the trade. i set a stop range for $5.99 - 6.38 and walked away because i've been cutting my winners short. it ended up hitting my profit target. GOOD: setup RFI: chased the entry MOOD: good CONSISTENT: yes Last trade of the day was a double top (kind of) in CGC. it bounced off the VWAP twice and i was having a good trading day and was one decent win away from hitting my daily goal so i got in short risking the VWAP to the LOTD. i was overconfident with this trade and as soon as i got in, i noticed it wasn't trending on the 5min or the 15min and actually looked like a flag on the 5min so i bailed at a 0.5R loss. GOOD: got out when i saw the trade wasn't trending on the 5min or the 15min chart RFI: should have not taken this trade. MOOD: glad i was able to recognize my mistake and bail. CONSISTENT: yes What i did good today: took good trades, was in control or my emotions and traded with a level head What i did bad today: hotkey errors again! and overconfidence and forcing the CGC trade What can i do better tomorrow: don't take trades to get to your profit target. Other comments for tomorrow: trade like today.
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