Day Trading Basics
Discuss about day trading basics: price action, orders, candlesticks, indicators.
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RECENT POSTS
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Kyle, Is there a way to automatically draw a line on a chart at your expected stop price? I saw on another post that you use such lines for reference when you are trading. Do you draw the lines manually? Thanks Rahul -
By jro_trades · Posted
I am interested in attending the success webinar. Is there a registration link? Kyle, thx for your hotkeys! I have just started using them today in simulation and will practice in replay mode this weekend to get familiar with the executions. Would it be possible to go over how to create a long limit order .20c above the stop-price (double click-to-trade on the chart) which dynamically calculates the shares based on $ risk. I am using the following command as a template: Long with $20 risk per trade: StopPrice=Price-0;DefShare=BP*0.925;Price=Ask-Price+0.00;SShare=20/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price= Ask+0.05;TIF=DAY+;BUY=Send;DefShare=200; -
@KyleK29, I am looking for a way to automatically draw a line at my stop level whenever I enter a trade. I need the visual reference as I am unable to effectively respect my stops. Do you know any commands that will draw a line at a specified price and of a certain color?
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Today I had the opportunity to test your version of the hotkey and the order of the statements did indeed fix my issue. Thank you very much! -
By Glenn Budde · Posted
2-18 to 2-21-20 What I did bad this week: I jumped the gun on 1 Trade management could have been a little better but overall it is getting better Messed up on sizing on 2 Called out a play I did not take Took Live Trades outside of PB#3 What I did good this week: Respected my in trade and daily stops Got out after either stop for the day or a goal in mind and did not trade the rest of the day as planned on all days and did not Over-trade Getting better on Live PB#3 trades only Trade management saved me money Changes to be made this upcoming week: Work on my Trend Scalps as Scalps and not long term Trends Rules to stick by this upcoming Week: After I call it a day by either MAX Loss, Profit Target or what I am comfortable with, only use the rest of the day for Chat, Journal, Playbook ect. In-Trade and Daily Stops Do Not chase or revenge trade Live Only one loosing trade before 1100 Challenges for myself this upcoming Week: Only A or better setups at time of trade On mic trades only with my small group Take a planned break at 1100 to 1200 for other Bus. @ 0905 do some exercise and then meditate to calm myself Stay unbiased Notes: Rules are not to be broken, these will cost money every time My Challenges are almost as important as my Rules, Pay attention to them If I feel overtired I will try going back to bed and coming back to Trend Trades later.... Goals and Rewards: +20Rs or more at end of the month to consider trading with more size in the future two months +7.2R for the week
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