Day Trading Examples and Review
Share your interesting trades and your thought process.
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RECENT POSTS
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By Ali raza Syed · Posted
Hi All! I am a complete newbie to day trading and actually, today was my first morning actually sending orders on the simulator, 3/4 of which were successful (beginner's luck kicking in!). I am working on the 9/20 and ABCD strategies and wanted to know what are the best scanners in Trade Ideas that we can use for identifying the stocks for this strategy. Really appreciate your help! -
October 2nd Trading Day Though I am green today it wasn't a very good trading day. First error was trading at all today. Though I had the minimum hours of sleep, I woke up exhausted and my Garmin watch such all my vitals look horrible (Poor sleep quality, lowest HRV this year, high resting pulse, etc...) But I traded any way. I was watching TSLA, NVDA and BABA. TSLA was setting up for a really good rising devil and I had my finger on the trigger waiting for the price to reach VWAP. I am not sure where I turned my attention (another stock or the 10sec chart on my NinjaTrader), but by the time I looked back at TSLA the VWAP was reached and price already fell. This is not considered an error. This happens sometimes. To go short now would only give a 1.5 Reward to Risk ratio. But I had FOMO and went short, which was error number 2. At least I went with half the number of normal shares since there was a long way to my stop now. The price dropped and reached my target. If I entered where I was suppose to this would have been a 2R profit and I would have gotten all out. Since I was only at 1.4R I only partialed and hoped for more of a drop even though there was no reason to hope for that. That was mistake number 3. The price started to rise and my 10sec chart looked like it was going to keep rising so I covered. At least, at that point, I was smart enough to shutdown my platform and call it a day. Yes, it was a positive 1R day. But not proud of myself today. 10 second candle chart: I hope everyone had a good trading day. Have a good night. Rob C -
The 10sec candle chart was useful today. Though I am quite used to reading the tick chart, I was having issues utilizing it at the open. Too much quick thinking. My DAS charts are candles and when I glance at my tick charts on NinjaTrader my mind doesn't switch instantly. So, I have been trying different candle charts. Today the 10 second candle chart was helpful on NVDA. This was the trade on the 1min DAS chart: This looks like a 1min ORB that I took a little early and got out early. Now see the 10 second candle chart. So within the 1min candle you see an ABC configuration forming. Thus, I went long before the 1min candle was completed. But you may ask what advantage did I have if any? If you took a normal ORB you still would have had a 2R trade by 8 minutes after open of the market. The advantage to me is an issue I am having with reward to risk. I usually trade by algo and my reward to risk is programmed in. But now taking live trades I am having an issue with this and most of my winning trades are an 1R win. So far I have been doing surprisingly well with 13 green days and one red. But 1R trades will catch up with me. So, by using the 10 sec candle chart, I was able to make a tighter stop instead of the $185 stop I would have used from the 1min chart. Thus, creating a 2R profit trade. And again I know with this trade and some patience 2R would have been reached anyway. But that is difficult for me at the moment, so I am quite happy with the trade. I hope everyone traded well today, Rob C
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By saadcheema · Posted
how can we use this utility in TOS Bookmap? -
By Jeremias Lopez · Posted
Hello Everyone! I'm Jeremias Lopez, and I started my membership a few days ago. I have no experience in trading, but I read Andrew's "How to Day Trade for a Living book" and that got my hooked. I then read a book about Charting analysis by Fred McAllen. I am really eager to learn and practice in the simulator once I feel like I got enough knowledge. I am an IT professional. Been working in IT for the past 20 years and looking forward to slowly switch into a different way to generate income. Thanks, Jeremias
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