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Day Trading Basics

Discuss about day trading basics: price action, orders, candlesticks, indicators.

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  • RECENT POSTS

    • IT'S ON!!! Got the gears for our picture on Friday! Thanks to @Ryan W Looking forward to see you all! Thanks! ----------------------------------------------------- Fin prêt pour vendredi! Merci à @Ryan W pour les chandails et casquettes. Au plaisir de finalement vous rencontrer! Karl
    • IT'S ON!!! Got the gears for our picture on Friday! Thanks to @Ryan W Looking forward to see you all! Thanks! Karl  
    • Your NVDA trade was amazing and your final exit was right on the mark.
    • 18.Jun.19 - DASTrader - BT I was watching Premarket and $BYND was ripping. At price $189 I thought price will definitely touch $200. And it did within 15min. But stick to my rules of not trading in the premarket. Did not chase $BYND at the open. Proud of that. I had $SNAP, $TIGR, $AMD, $MU and $FB on the watchlist. Trade 1: $TIGR Looked strong daily above 20ma. Took the conventional 1min ORB Long at the open. Price didn't move much. I got out and price dumped immediately. Good read. I can't flip my position quickly, so just let it go, price dumped 60c.    Trade 2,3&4: $SNAP. Daily looked strong. Opened very strong, I went long at the VWAP pullback, was so confident about this setup, I didn't set any Stoploss. 1min chopped a bit and I got out (before my stop, if there was one). Again twice got in and out due to 1min chop. Finally the price took off without me for a 70c move.    Trade 5: $NVDA. Took $NVDA as it bounced off all MAs and VWAP on 1min (Harmonious setup). Took it long. Took an early partial (may be due to 4 failed trades), then let it ride till 5RR (at HOD). It is also 10min ORB.    Trade 6: $NFLX. I liked $NFLX for long today (& yesterday). Took it long at break of HOD, got stopped out.  Trade 7,8,9&10:$MU. I called out $MU at the premarket. It formed a double bottom on Daily and was looking to go up. I missed the open. it was similar to $NVDA above. I waited for the pullback to MA, before taking Long for Trend trading. I took long, once again, didn't define my Stoploss, got out. Happened 3 times, before finally the price shot up on the 4th trade.  I put in a range order fpr 20% sharesize, price didn't go to my target, I got stopped out (my target was too high).    Good: No premarket trading, Respect my rules. Pround of my 2 Green trades on $NVDA and $MU, despite having a rough day today.  Improvement: Had very high FOMO at the open, probably impacted my trading a lot today. No stoploss - I have read about the exact same thing in Tradinginthezone. I was so confident about my trading and the setup being right, I just forgot to put a stoploss.  I could have traded the usual stocks $MU, $AMD, $FB and had good moves too. But I was looking for a lowpriced stock, hence took $SNAP and $TIGR. Conventional ORBs are not working.  Bit of Overtrading today, when things don't go well, this happens. But stopped at noon and didn't trade again. 
    • Have you set the thickness of the line to be 2+? At least that was my issue. it was there, it's just that I was not able to see it lol
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