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Showing content with the highest reputation since 09/22/2019 in all areas

  1. 4 points
    Monday 10/14/2019 I had a well-being score of 6.5/10 this morning. I moved my fixed R to $10/trade while I figure out the sweet spot. High enough to feel the uncomfortableness of live trading, but low enough I will trade smartly. Took 2 live trades this morning was with YNDX and FAST. Backtesting showed AAPL and BABA are no longer in play at the open. Sadly there was enough data by last Wednesday to show this. I will backtest charts daily from now on and use the last 5 days (moving average) to determine the plan going forward. This would have save me two days of double stop outs. But, AAPL has made really nice 15min ORBs all last week and BABA still in play at the 5min mark. So Both stocks are off limits at the open. I can look at BABA at the 4min mark and AAPL just before the 15min mark. YNDX and FAST were on my opening watch list, with MU and BABA on my 5 min watch list. AAPL was on my 15min watchlist. My attention was entirely on YNDX at the open. I like it was the only stock I saw gapping up and it was gapping up more, with volume, right before the open. I already planned if it broke the 31.05 level with volume to go long. Which it did 2 seconds after the open. I usually wait a few seconds for the price fluctuations to settle down, but the L2 looked positive so I went long immediately. The priced spiked during my fill and I immediately lost 20 cents on the fill. For a $30 stock, it is pretty much game over. But since I was so close to the open I did go half share size. So my risk was still just above 1R and my R/R still OK. Too bad the price retraced back and I could have gotten a better entry a few seconds later. Live and learn. So I was long YNDX a few seconds after the open with HOPM as my target and the daily level of 31.05 as my stop. Due to my bad fill it didn’t feel promising to take my first partial at 1.5R and instead I took 25% at 1R. The price than retraced and I was all out at B/E. FAST actually setup while I was trading YNDX. Though I will take two trades at once with stocks I know well, I wouldn’t dare with these. After my YNDX trade was over, I did miss a move with FAST, but there was still a lot I liked about it for a 2min ORB. The candles were creating a mini ABCD and even though the stop would have to be far away, the 200MA-1min was right above my 1.5R and the PDC at 3R. So I was long with PDC as my target and VWAP-1min as my stop. The price advanced quickly and I took a 25% partial at 35.85 which was a really strong level, since there was a daily level, HOTD and the 50MA-5min. Then the price moved higher and bounced really hard off the 35.93 daily level. So hard I took another 25% partial because I just lost faith in the trade. Then all out at B/E. Then I did well in SIM. I took a 5min ORB on BABA which made it to 1.5R partial than out at B/E. I also took a SIM trade with AAPL for a 15min ORB which really ran. Score cards (live trades). YNDX FAST 86% 95% What I did good today: I like how I managed the FAST trade. What I am grateful from today? +0.6R is not that much of a day, but it was a lot of fun trading new stocks. What do I need to improve on: I will move my backtesting from weekly to daily. I just have to be careful not to make decisions on one point of data. Need 5 min. So I have to use the backtest data as a moving average.
  2. 4 points
  3. 3 points
    October 14, 2019 - A very slow day without a lot of good setups. I sat on the sidelines in the morning as I didn’t get any good setups from $FAST, $YNDX, or $FCX. I came back for the afternoon session and it was terrible. I could almost look at some stocks and see the computers trading them. I choose to just sit back, watch the charts and look at volume compared to the price action. I really wanted to get a trade in today, but was not willing to take a bad trade. Looking forward to tomorrow. Sample Set Results, S P G E E P P P P G G 12 13 14 15 16 17 18 19 20
  4. 3 points
    Thursday 10/10/2019 I had a well-being score of 6/10 this morning. Took 2 live trades this morning was with AAPL and BABA. Probably shouldn’t have traded this morning. I wasn’t planning on it because there were planned power outages to occur 4am. I woke up and there was still power and the outage was moved to noon. But I wasn’t in the right mind set and the usual nightly tasks to prepare were not completed. Adding to that I injured my food last night which I thought wasn’t bad. Then I saw how black and blue it was this morning and realized I probably under estimated the injury. Essentially, I was not in the right mind frame and should have skipped trading today. Though the trades, on their own, do not look that bad. I have no memory of looking at SPY, L2 or T/S before I took either trade. Actually, I don’t even remember looking at volume before I took the BABA trade which is a must. So I consider this a bad trading day and it was not bad luck for my -2.3R loss today. I traded poorly and should have not even opened the platform today. I still like the daily charts and PM on both AAPL and BABA. I was long bias on both before the open. Both stocks, especially, BABA were showing strength right before the open. Volume was instant for AAPL and a small hammer was created and I went long when the price broke the HOPM. My target was 228 with the bottom of the candle as a stop. I usually like better stops this close to the open. The price immediately went against me and I was stopped out a few seconds later with a >-1R. BABA had a really strong last 5min of PM and I waited for a pull back. An incomplete hammer was created and I went long at the bounce of the 165.20 level, with 165 as my stop and 166 as my target. There was volume, but honestly I didn’t check it at the time. Just like AAPL the price retraced immediately after I entered the trade and I was stopped out a few seconds later. Got my head spinning to be -2R just after 9:31am and done with my live trading for the day. I did take a SIM short on BABA for +2R, but it didn’t really help my mood. I shouldn’t have traded today. One note. PG&E are planning proactive power outages in my area to reduce chance of fire. I may not have power for 2 to 3 days. So if you don’t see any journal entry from me the rest of the week, you know what happen. Score cards (live trades). I can’t really blame myself for the long bias, both looked strong in the PM. Not following my entrance checks were my main errors. AAPL BABA 85% 88% What I did good today: Took a good SIM trade. What I am grateful from today? Stopped trading at 2 trade limit What do I need to improve on: When not to trade when you don’t have the right mindset.
  5. 3 points
    03Oct19 Red day. -3r. Watchlist: $BBBY, $PEP, $TSLA, $GPRO. My watchlist except for $PEP had gapped down, but also had high short interest. So was not sure what they would do at the open. Had $PEP and $BABA at the open. Trades 1,2,3: $BABA. I liked the small hammer and a strong 1min candle on $BABA, I took long at the breakout got stopped out below VWAP. Stock was strong enough it couldn't go back to touch 200MA and pulled back above VWAP with a hammer. I took long again, confident about the setup now, $SPY dumped on a news and I got stopped out. Later tried to scalp the SPY dump, but got out as it was too slow. Trade 4: $SNAP. My one good trade. Took ORBD after the PBBE/3C setup. Slippage was bad and got a bad fill, which means, higher stop. Thought about adding to my position at VWAP, but stock was still consolidating below VWAP. It was about to breakdown and then SPY dumped and helped. I stayed in the trade for 40mins without any partial, first time for me at the Open. Trade 4: $TSG. Another ORBD trade, After a red engulfing candle and below VWAP. Stock moved in my direction a bit then squeezed me out. Trade 5:$PEP. $PEP was choppy in the morning, but after an hour took direction to HOD. I took a reversal, but stock was strong, so flipped my position Partial at HOD and another daily level above it. This was also my One good trade. More importantly, I noticed the 2 hammers on 30mins, and took a Long. to partial at HOD. Trade 6: $SCHW. After the SPY dump in the morning all the stocks were pulling back to their positions. $SCHW was strong and created a double bottom reversal. I took Long above VWAP. I was thinking about false breakout, and still added to my position, Got stopped out. I should not have added. Good: 2 very good Trades on $SNAP and $PEP. Improvement: Looking to trade off higher timeframe 30/60 min in the afternoon. Took some trades in SIM that are coming out nicely recently that also fits my availability to trade.
  6. 3 points
    3/10/19 another frustrating day today but feeling okay about it. 2 losers (ORB, wedge breakup and VWAP hold) Trade 1: stock seemed really strong, waited for a big low volume pullback but stopped out. Trade 2: so i saw a rough ascending triangle so went long close to the support line with stop below the previous low. i added above VWAP once it held, i was feeling confident about this but i had to leave to buy some tickets so i set my stop at my average entry price, and stopped out by 3 pennies but if i gave myself a 1 R buffer it wouldve worked out, its currently at 4Rs at the time of writing, but if i was watching it i wouldnt have stopped out at b/e so not too annoyed about it.
  7. 3 points
    September 27, 2019 - Missed this journal when doing my weekly review and notice numbers were not adding up, so I inputted the correct sample set results Sample Set Results, S P G E E 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 September 30, 2019. - SIM Day I got around 5 ½ hours of sleep. When I woke up I made the decision that if I could get through my notecards without getting confused or mixed up than I would consider trading live. Well that didn’t happen, so I decided to trade Sim. After the last couple of weeks I been struggling with the hesitation on my new strategy, so today I decided that if my setup was there and I could get an entry using a limit order at the break of the 5 minute that I would take them all. Additionally, I wanted to have some fun at the open so I decided to trade any setup I saw regardless if it was within my playbook. I wanted to have fun at the open today. In all I took 5 trades, at one point I was in three different trades at once all with range and limit orders. My first trade was on $CCL and my last exit at the end of the day when I had to go to a meeting was $CCL. I held it from 9:40 to 3:03. It chopped all day in between my stop and 1R out. Yes I had a huge stop, way too big. Overall, I had a fun day and I needed it and I got some valuable reps on entering limit orders for my new strategy. Although I only got 2 entries, I think I put in at least 5 orders that just didn’t get filled because the stock didn’t break the entry point and instead made a new high/low causing me to cancel the order.
  8. 3 points
    25.Sep.19 Red day. -2r. Watchlist: $ROKU, $NKE, $BABA, $MO and $BA. Trade 1&2: $BA. $BA had positive news in the morning, and stock moved up just before the open. Daily had gapped up breaking consolidation. At the open it formed 3c setup on 2min. I took it long, but got stopped out during the dump. Price bounced off 383.16 daily level. I took long again and AON exit at 2R. (first entry was in SIM by mistake). Good Trade. Trade 3 &4 : $NKE. $NKE was top of my watchlist today, it traded beautifully at the premarket with volume. I was very long biased, chart was harmonious with ATH, my favorite setup. But at the open got chopped up badly. It remained choppy until noon, after which some news came in. Trade 5: $NKE. Took reversal trade on my A setup, which worked out beautifully. It was V-reversal to VWAP at 200MA on 5min . I didn't think the move would be stronger, I got out at 2r, price moved to 3r. Best trade of the day. Trade 6: $SNAP. Took VWAP pullback short setup , as the price dumped at the pen, pulled back to VWAP created a shooting star, as it couldn't close above VWAP. I took it short, but got stopped out. Today it failed. Even the pullback candle (white) to VWAP had low volume, but still din't work out. Trade 7: $CGC. Another reversal trade, but failed. I had 15min shooting star and on 30min 50MA was swooping down, took short below 50MA, tight stop. Got stopped out. This is one of the setups I trade 50/200MA bounce with reversal candle. Good: Traded only setups, except for $NKE where I tried to trade the choppy price action. Some of my highly accurate setups are failing, today in $NKE, yesterday in $SNAP. Hope it changes in October. Improvement: Bit of overtrading, but only setups. Need to drop everything but A+ setups.
  9. 2 points
    21.Oct.19 Green day. +5R. Today I had a better day. I am going to keep this journal short, as I am travelling. I may not be able to trade the next couple of days. Watchlist: $AAPL, $AMD, $HAL, $YNDX. Last earning season, I did not trade well, partially due to having so many stocks on the watchlist and not watching one particular stock. This time, I made sure, I finalize only 3-4 on the watchlist and observe one at the open. Trade1: $AAPL. $AAPL gapped up and at ATH. $SPY also gapped up, I had a key level at 238.2. Trade 2: $MU. $MU also gapped up. Had a nice entry at 10.05, that I missed. Later took a long at 20MA (1min) final partial at HOD (also 200MA on 15min and 30min). My trade of the day (due to my poor add in AAPL). Trade 3: $MU. I also took a reversal on $MU after trade 2 that worked well (under huge resistence in mutiple timeframes). Trade 4: $INFY. Took a scalp on $INFY once it bounced off VWAP at 12 Noon. Good: Whatever setups I took in Real and SIM worked out perfectly (including $AMTD Earnings Play). I was calm and patient today. I am still listening to relaxing music at the open. Improvement: couple of them in $AAPL trade. Will try to improve on them.
  10. 2 points
    10-18-19 Good night sleep, feel pretty good.... at desk at 0800...... normal routine... PAT: Share Size..... Partial outs.... Notes: Take the setups when they present themselves and stop second guessing yourself..... Use instinct along with L2 and Tape when partialing or getting all out.... Took a bunch of SIM of SIM trades... early morning is just not working for me.... mostly ORBs based on candle action, just may be a little much for me right now but Ill keep trying in SIM.... ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- I will make this my break of SIM and Live account for my information.... ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- KO All PB#3... first.... B setup at best but told myself that I was in this Live..... This was all FOMO and I should not have even tried this in SIM... I did take small size as I knew I was Chasing..... Took it as a trend on the 5min (way too extended from 9ema) but did have a nice ABCD going on the 2min.... stopped out at C..... -16.00 second.... A on first entry and A+ on second entry...... Im a little disappointed as I did not take full size here, and only in for 3/4..... This was the second and third test of the 9ema on the 2min.... L2 and the Tape was all in favor of an uptrend... Took first partial at HOD... then more at a marked daily level and several more between that level and HOPM, then all out on L2 and Tape along with new 15min low.... +85.11 third... A setup... A bit extended for an A+..... took 3/4 size..... I felt I let my emotions get to me on the previous trade and I should no have let it stop me so I may have forced this a bit.... took small partials and lost focus to SNAP and got all out below BE... Should have been a +25.00 if I set a hard stop..... +4.58 SNAP PB#3.... A+ setup.... I did take full share size here.... Tested the 9ema on the 2min several times Was in a clear downtrend in harmonious charts.... No new highs on 5min or above..... Took profits at 1/1 , 1.5/1 , 2/1 , several at around 3/1 and still in for small size with a stop profit of 2/1 +74.99 Cons: Took a trade with a bit of FOMO, and yes I did a fake montage switch to Live...... Pros: I did respect my stop loss.... Favorite Trade: SNAP Notes: Will be Live on Monday so I will scale down on my share size for a bit.... R = 50.00: +148.68
  11. 2 points
    Friday 10/11/2019 I had a well-being score of 6.5/10 this morning. I was not able to trade yesterday due to power outages. Took 2 live trades this morning was with AAPL and BABA. I still like the daily charts and PM on both AAPL and BABA. I was long bias on both before the open. I essentially took the same trades I did Wednesday when I got stopped out on both. And today I also got stopped out on both. Volume was instant for AAPL and a large hammer was created and I went long when the price broke the 200MA-1min. The only target above that price was the 233.49 daily level. But that is an R/R~1.7. My stop was the PM level of 232.65. I set a limit order at 1.5R, which was just below the target. Two minutes later the price missed my order by a nickel and retraced back to B/E, where I had a stop order to exit the trade for no loss. A few minutes later AAPL started its run up. BABA had a really strong volume quickly and I really like the bullishness on the 5min chart with PM. I saw a L2 signal and a break of the 171 level that was resistance in the PM. I also liked there was a daily level 1R away that seems to pull the price up near the open. I had no good level for a target so I used 172, with my stop at 170.50. Wow, the price instantly reversed and I was stopped out in seconds. The one bad thing about the trade is I used the wrong share size. I saw the stop was 50 cents away but I used shares for a 35 cent stop. For some reason my stops coincidentally have been 35 cents for BABA for almost two weeks. So I think it was a reflex. But that stop now cost me an extra -0.5R. BABA did go for a run up later. Which is good because I have a swing trade on BABA. 5min chart when I took the trade: The total trade: Then I took a few SIM trades for +2R profit. Score cards (live trades). AAPL BABA 93% 90% What I did good today: I like that I followed my new B/E stop out when price reaches 1R on AAPL. That is not easy for me. It’s difficult to S/O at B/E unless I take a profit. What I am grateful from today? That the power outage didn’t last longer. What do I need to improve on: I think I may move my backtesting from weekly to daily. I think AAPL and BABA stopped being in play at the open by midweek, but I kept trading them at the open. I just have to be careful not to make decisions on one point of data. Need 5 min. So I have to use the backtest data as a moving average.
  12. 2 points
    7 Oct 2019 Traded on 2 ORBs and one trade on AMD. ORBs for both RNG and SPWR. But for AMD, I think I have guessed it wrongly. I thought it is going to pop up due to the constant pullback towards the VWAP. In the end it move strongly towards VWAP and I got really scared and I exited the trade. After I observed the trade, I still got stopped out. Hope to get better each day.
  13. 2 points
    Thursday 10/03/2019 I had a well-being score of 6/10 this morning. I am limited to 1 live trade a day due to 3 big loss days in a row, broke a rule and a general lack of discipline. My 1 live trade this morning was with TSLA. Since I am restricted to one trade I was hoping to trade something different. Though I was hoping to trade something new, AAPL still looked good in the PM so was one of my top 2 focuses. TSLA was definitely in play. I liked GPRO but Centerpoint did not have shares to short. BBBY looked good so I kept an eye on it on a side chart. TSLA opened weak and I was watching for a pull back to VWAP. I missed it since I was looking at AAPL and BBBY at the same time since they looked about to setup as well. So I shorted TSLA on a standard 1min ORBD with the break of the candle body. My target was quite far away at the 227.89 level that is not even on the chart below. And my stop was VWAP. Not that pretty of a setup but a huge R/R so it was worth a try. I went half shares knowing TSLA can smash right through your stop and give you a -2R. Just as I entered the trade with TSLA both AAPL and BBBY both setup. But I have a one trade limit so I just had to watch them. The price quickly retraced and I was stopped out with a huge, but expected, slide. Since I went half shares I only lost -.8R. Though my target was far away, the price did drop and reach my target 20 minutes later, showing it was a good calculated risk. I quickly switched to SIM since I wanted to catch TSLA if it setup again. But instead I saw a setup on BBBY. BBBY open strong and created a mini ABCD inside the 5min candle. Essentially this was a 5min ORB that I took a little early because I thought it may pop if it goes red to green. My target was 10.24 level with 200MA-5min as my tight stop. I tried something new. I am really focusing on taking partial profits better. So I pressed a newly created button which sent a limit order at 2R to sell 50% of my shares. Since 2R is right at a level it was a really strong spot to aim for. Then I sat on my hands. I would have likely taken 4 partials on the way to my target, but with the order already in (and in SIM) I was able to wait and get my order filled. Shortly after I saw something scary in the T/S, though I do not have a recording of it so I can’t go back and check what it was. But it was enough I got all out. The price dropped then the signal disappeared and I got back in at a lower price with a slightly higher target and PDC as my stop. I waited patiently and took two heavy partials then all out at B/E. Another button I set up to place a stop at B/E. I have been getting out to early. A nice +4R winner. Besides traded something new, using some new hotkeys, I also decided yesterday to look at my P/L every day (after trading was finished). The month without it helped me get my mind a little more focused on the training not trading aspect. But, it is also counter productive. I still need to know my P/L to help evaluate my trades. And I was instinctively estimating my P/L anyway which takes longer and is a waste of time. Score card (live trades). Using the new scoring: Original New Setup 50% 25% Entry 20% 15% Partials/Exit 20% 50% Share Size 10% 10% Total 100% 100% TSLA 89% What I did good today: Traded something new. Kept to my 1 trade restriction. What I am grateful from today? I really like the 2R limit order button. What do I need to improve on: Keep trading different stocks in play. Maybe wait for the break of the wick on 1min ORBs if the end of the wick is close.
  14. 2 points
    Wednesday 10/02/2019 I had a well-being score of 5.5/10 this morning. I am limited to 1 live trade a day due to 3 big loss days in a row, broke a rule and a general lack of discipline. My 1 live trade this morning was with AAPL. It left me a bit spinning. Starting to feel better now. AAPL as my primary focus. BABA was also on my market open watchlist with MU and NFLX was on my 5min ORB watchlist. It was odd but I liked AAPL, MU, and BABA from the premarket and wasn’t sure which to focus on. At the last minute I chose AAPL and BABA really for no other reason then it is much easier to watch that combo than say AAPL and MU due to different prices and personalities. AAPL open with good volume and bounced of the HOPM. I decided to go long if it broke that level. Since I was a bit short bias I knew this trade would probably be a fast scalp so I did jump the gun a bit and entered the trade before a clear break. My target was 224 and stop 223. But in less than a minute it made a clean break and I took one partial. The price quickly retraced and I got stopped out. But this is where the emotional strain hit. Before I got stopped out I was thinking this looks like a really good short, so my instinct was to flip my position well before my stop. But I can’t because I am currently on a 1 trade/day restriction. So instead I held onto the position longer to a full –R. I tried to switch to SIM quickly and take it short, but it took to long and I felt like I was chasing it so I didn’t. I was already feeling low after the AAPL trade, then worse after my SIM trades. I first took two SIM trades simultaneously. One I was stopped out by 2 cents than the stock went for its run without me. The other stock I did get two partials than I was stopped out by a penny and then it went for its run without me. Then I started to overtrade (on SIM) and took 4 poor trades and got S/O on each one. Which forms more bad habits. That’s when I felt my lowest. But about an hour later is when I realized that the main reason I am forcing myself to one trade/day is punitive. If I go back to SIM, that is like a vacation to me. But I really need to feel the pain for breaking one of my rules on Monday. And today was a perfect way to solidify that. It hurt not being able to flip the position. And I will likely stay on the one trade restriction for the rest of the week. I also decided to take advantage on the remaining two days this week. Since I am on a one trade/day restriction I can do less damage. So I should be experimenting with different stocks and setups. Data I took, a few months ago, is that my win% was much better on stocks that I know well. But that was a few months ago. I may be a better trader now. So I decided to trade stocks in play that I like for the next two days. Score card (live trades). Using the new scoring: Original New Setup 50% 25% Entry 20% 15% Partials/Exit 20% 50% Share Size 10% 10% Total 100% 100% AAPL 89% What I did good today: Stayed on the 1 trade/day restriction, though FOMO was high. What I am grateful from today? That I did recover from the FOMO. Though it took a couple of hours. What do I need to improve on: Will take advantage of the trading restriction to trade stocks I usually don’t and try to learn from them.
  15. 2 points
    30.Sep.19 Break-even day.. I had one winner on $MU at the open. And then didn't take a trade for 6 hours. FOMO got to me and took a losing trade on $THO near the close.. Details below. Watchlist: $MU, $DOVA, $GSK. The reason why I picked these stocks is below. Trade1: $MU. $MU had earnings on Friday and dropped 5 points by end of the day. I was looking for a continuation move today, especially because the stock closed within the lower 20% range of the day. Also, Stock couldn't break $42.9 on Friday, which remained low of the day. $MU opened flat today, may be slighly gapped up. But my bias was that it will drop further atleast 2 points, if it could break the low of friday ($42.9) & premarket low ($42.73). $MU was on SSR.S thruout the day. Today, we lacked volume in the market, may be due to the Jewish holiday. $MU was whippy at the open, couldn't find a direction (I found the same with $DOVA and $GSK too). Nevertheless, once it broke the $42.9 level, I went short. Due to SSR and lack of volume, my entry was $42.82 (9c lower). I wanted to add in the next pullback, but the fill was pretty similar. My first partial was $42.67 (15c lower), but I didn't like the price action, took another partial, Got out once price broke the resistence of $42.73 (premarket low) above. I usually take VWAP pullback short, but this time, I didn't feel it. Good, I didn't enter, $MU squeezed big time and trapped all the shorts. Trade 2: $THO. After my $MU trade, I switched to SIM, didn't get any setup in $GSK or $DOVA. I would have taken $GSK fallen Angel, except for the lack of volume. I was out for 2 hours. Came back and made some trades in SIM. I was feeling FOMO about not trading anymore, having not reached the daily target or max loss. I was pushing for another trade. $THO was in the scanner thruout the day and I made some SIM trades too. 15min before the market close, price hit strong resistence (VWAP, 200MA 1min, 50MA 5min). I went Short. Realized it's not dropping fast and got out. Price eventually dropped, but I could have avoided this as it was not A+ setup. Switched to SIM and it did work. I didn't use Kyle's hot key, so my sharesize was twice bigger and took out my profit. Good: $MU trade as per plan. the One Good trade (OGT) for me. $THO although I shouldn't have taken this trade, got out immediately, after realizing the mistake.. Improvement: Need to address FOMO, this results in trading not A+ setups.
  16. 2 points
    I'll try to go for sure! I'm based in Coral Springs FL (close to Boca Raton) My email is [email protected]
  17. 2 points
    9-26-19 Woke at 7:50 with 4.5 hours sleep.... Feel ok but a bit groggy.... SSS and a coffee..... PAT: NO ROKU...... Think about my trend trades when I am in them, I am mismanaging them. I do tend to take some off in times where it was a clear signal to add on.... I will not trade in the first 5min.... Mute the chat for the first 15min as it gives me a bit of anxiety and I believe leads me to less than Ideal trades..... Pre Market Routine: Read a bit..... Did a little stretching and breathing exercises for a Calm beginning Notes: Any 5min ORBs will be in SIM of SIM...... then only if it is a A+ setup will I go Live SIM at 10min ORBs and beyond...... CCL PB#1........ 5min ORBD, with ABCD on the 1min (B setup)..... I did not wait for better confirmation on the ABCD and entered before it made a new low on the 1min........ got stopped out above C.... -44.00 MO PB#1..... 5min ORB with ABCD on 1 and 2min, breaking the 50ma on the 5 and 15min (B setup).... because the 50ma is a strong resistance on the 5 and 15min..... In half size and added at more confirmation of the break of the 50ma.... Partial at 1R then out at BE.... I did end up liking this trade for more of a B+ - A setup but would have still taken this in SIM of SIM because of the 5min ORB.... +26.00 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ I will make this my break of SIM and Live account for my information.... but as I have been doing I will still use my P&L for all trades since I do not have a way to separate them yet....... ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- RAD PB#1 (A+ setup) turned into PB#3.(A+ setup)..... 10min ORB with a very clear ABCD on the 1 and 2min, All moving AVGs below with a Harmonious Charts on top of profit beats in the news with a large Short Float the shorts should get squeezed.... I went in for 1/2 size then immediately added to full share size and again added to 1.5 share size when the L2 had lots of pretty good size asks the RR was 2/1 where my stop was C and target was 9.33 a daily level..... Took some profits on the way up at 1.5R and 2R, held on through the consolidation (was holding for BE) then the very clear ABCD formed on both the 1 and 2min and again with L2 sending all the right signals added back in to a full share size this time with a RR of 4/1 again took profits at 2R, 3R twice and 4R and then all out once it made a new low on the 5 and 15min and this was my Reason2Exit.... +260.55 Cons: I only feel like I jumped the gun a bit on the CCL trade but not a terrible thing as these are the entries that can make a huge difference to the Risk..... Pros: I held on and did not take trades out of anxiety..... I did keep the volume muted for the first 15min which I believe helped me focus..... Went in with force when I felt my setup was A+...... Felt Like I managed this trade well and did not trade my P&L Favorite Trade: RAD Notes: Read and reread this day for what I need to do on a daily basis..... R = 50.00: +242.55
  18. 2 points
    9-24-19 Woke at 7:50 with 4 hours sleep and a little groggy..... SSS and a coffee so far..... PAT: Back to sitting on my hands for at least the first 5min.... Somebody scold me If I take a trade before this........ I will only take trades in the first 15 min with a clear ABCD on a lower time frame than the ORB..... I will be attempting to go Live around the 21st of Oct. so it is now crunch time.... Get back to my normal trade sizing and scaling out.... Notes: SIT on my hands for the first five!!!! ...... ROKU only for an A+ setup...... 2 bad trades come here to journal...... I have a possible appointment around noon time so I may need to set orders and run.... PreMarket routine: Got a little reading done.... got a little exercise and stretching done.... No meditation today.... For some reason my charts/pictures will not upload.... I will try again tomorrow..... Got it working...... AMD PB#1....... 5min ORB down with reverse ABCD on 1min...... Took Full share size with Hot Button..... Hard Stopped...... 2/1 RR...... May start waiting 15min after open to start trading......... If I trade any earlier then I should take 1/2 share size..... PB#3..... Trend pull back to the 9ema on the 2min.... Wish I would have kept this for the long run but it does look like I would have got stopped at 1128 anyway.... the only thing would have been more profit taking on the way there...... 2/1 RR +8.20 OSTK PB#1..... 10min ORB with ABCD on 1 and 2min......... Full Share w/ Hot Button.... Hard Stopped..... 1.5/1 RR....... Bad RR and same as above..... PB#3...... Trend of the 9ema without a new low on on 5 or 15min..... my RR was 2/1 here but something drastic happened in the stock price and the bottom dropped out.... I got out as quick as I seen it for more loss than I wanted to allow.... I searched for news and could not find any..... -107.00 ROKU PB#2.... VWAP Reversal/False Breakout...... I did figure this would be a false breakout and wanted to get the scalp..... I did get it but with the spread on this stock it was tiny...... FOMO and a bad trade...... This was being discussed in the chat and I did have FOMO..... I took a super quick tiny profit as I knew this is not one of my setups.... +23.50 TVIX PB#4..... Opportunity trade on the spy dumping.... I will keep my stops on these very tight as these trades are strictly traded on scalping the news or tweet that has come out..... -8.00 MU PB#3....... Trend on both trades first one stopped out and second took partials and out at BE..... RR on first was 2/1 and on second was 3/1....... +10.58 X PB#3 .... Trend........ Got all out on accident at 2/1, meant to partial 50%..... This would have made me a bit more but it would have stopped me out soon after.... +55.00 NUGT PB#3... First attempt failed and stopped out (entry on 2min is off the chart..).... second attempt worked out except that my first partial should have been an add on here, I also did not have a Reason2Exit..... This trade was not managed very well as I could have made a bunch more...... +129.44 Cons: Did take a couple trades I shouldn't have...... Mismanaged some of my good trades and cost me ....... Pro: stuck to my stops..... Did find a couple of nice Trend Trades PB#3..... Favorite Trade: NUGT.... Notes: Not sure I am liking the new hot buttons but maybe its because I only have them set up for full share size (they seem to be costing me more), I will try to add more of them this Thursday night..... R = 50.00: +111.72
  19. 2 points
    Tuesday 9/23/2019 I had a well-being score of 6/10 this morning. I took 2 live trades this morning, both with AAPL. So AAPL and BABA were on my market open watchlist with MU, AMD,and ROKU on my 5min ORB watchlist. I liked the daily chart on BABA. Not sure which way it was going to move, but thought it would move. And I liked the PM chart on AAPL and was long bias. BABA again did not get volume at the open. AAPL got volume but gave a red first 1min candle. Even though I saw SPY dropping I was too long bias to take the trade. Then the 2nd 1min candle engulfed the first in seconds, then pulled back and I went long with a good fill. My target was the 221.51 daily level and my stop was the bottom of the previous candle. The price quickly popped and I got a first partial with small shares. Then price quickly retraced. Since I took a partial I moved my stop up to VWAP and a PM level. I was stopped out by a penny or two for >-0.5R loss, so it does not give me the right to take 3 trades today (one of my rules so I don’t take the 3rd trade as a revenge trade). When I was stopped out the volume for BABA arrived and I was waiting for a setup (pull back). While I was waiting AAPL setup again and I went long. Five seconds later BABA setup perfectly. But I have a two trade limit, so I watched BABA drop like a rock and never look back. Would have been a huge stress-less trade. Instead I entered a very stressful trade. The 221.51 target was now too close for AAPL, so I chose the very strong 22.39 level. My stop was LOTD. Which gave an R/R>4. The price retraced and touched my stop twice while I was watching BABA really move without me. Also SPY was dropping and I was really losing faith in the trade. So when the price reached back up to my entry I took a few shares off. Then it popped a few cents and I sold more. Essentially I sold half my shares at B/E to reduce my risk. Then the price moved up to the 221.51 level where I took two partials. Then retraced to stop me out by a couple of cents again. Then it went higher and actually reached my target. That’s OK I didn’t have too many shares left. What hurt is the first S/O and selling half my shares at B/E. I don’t look at my P/L until the EOM but I instinctively look at each trade and estimate the P/L. Today looks like I am flat. Just like my trading for the last 8 months. No mood for any SIM trades. I was nervous I was going to FOMO trade and I had to turn off my platform early. Yep another day that represents the month I have been having. Where I saw the two stocks I am focusing on, both fly big today and I wasn’t on board. Score card (live trades). AAPL AAPL 88% 87% What I did good today: Well again I recognized and took good setups. What I am grateful from today? Walked away before I FOMO traded. What do I need to improve on: At the end of the month I will evaluate my S/O strategy after taking one partial profit. Last month I really didn’t have enough data to determine a strategy. Hopefully at the end of this month I will. What I am doing now is not working.
  20. 2 points
  21. 1 point
    The icons were done in Illustrator, I've added a share link to the file because the forum doesn't support zip or illustrator file types. Enjoy! Original icon file Jason
  22. 1 point
    that looks like good trading, i wish i did the same on that day
  23. 1 point
    October 17 & 18, 2019 Pretty uneventful the last two days. Just have not had the right stocks on the watch list at the open. It seems the ones that get my setup are the more expensive ones and the cheaper ones do not setup right. I am looking forward to next week and should have a good trading week. Looking to put my afternoon strategy back into play as I have been working the entry and it seems to be working out more times than not. Sample Set Results, S P G E E P P P P G G P 13 14 15 16 17 18 19 20
  24. 1 point
    10-17-19 At desk at 9:45.... very groggy.... will only SIM for the first part.... Yesterday The only trade I would have traded was APHA which I thought I booked a $10 loss but I guess the order was for a portion of the shares and today I ended up getting all out on it (an accidental swing trade) I have a lot going on today so I may end with this only trade that made sense to me.... I would have taken this LIVE as I did start with small size and added in on confirmation to 3/4 size NUGT... PB#2.....A setup.... small to start and 3/4 size after add.... I watched SPY start to roll over and had my eye on NUGT it broke VWAP with force and the tape and L2 agreed .... It was above YH and PMH.... above all moving averages on time frames from 2min to 60min .... Took 25% partials starting at the 2/1 level which was also previous resistance intraday..... took more at YYH which is also a dollar amount... then more at what I thought was the top of the move based on the L2 and tape (which was correct) left a small amount to get all out at the dollar..... +114.31 I will have a Live account by Monday (maybe tomorrow) ....... Have some work to do tonight....
  25. 1 point
    hi Kyle we all have been there, so you are at the right place Welcome
  26. 1 point
    Hi guys, we are looking for ideas for new Workshop Wednesday’s / Webinars, what would be great topics to teach on these events? Share your ideas!
  27. 1 point
    Out of all the restaurants that I checked with, I only came up with one that is able to accommodate us without a minimum tab or set menu. I'll throw out this idea again for Hooters on Clearwater Beach. They can put us up on the 3rd floor with everyone ordering off the regular menu with no restrictions. They will also be able to get us in earlier since they don't close between lunch and dinner. Would anyone be opposed to this? http://www.originalhooters.com/locations/tampa-bay/clearwater-beach/
  28. 1 point
    Thanks buddy for always been there to encourage!
  29. 1 point
    Nice Short on $DAL, looks like we got almost the same entry.
  30. 1 point
    I'm not sure if it's just me, but it seems the forum font now is either lighter in color or using a thinner font, making it more difficult to read. I know there was a recent website maintenance over the weekend, not sure if this is related? Anyhow is there a way to change the font displayed in the forum by the member? Thank you.
  31. 1 point
    04.Oct.19 Green Day. +9r. It was one and done day today. After my one trade at the open, I closed the platform, went out of the house. After coming back, just took couple of trades in SIM. $WATCHLIST: $COST, $AAPL, $TSLA, $HPQ and $SRPT. Trade1: $SRPT had a premarket high of $86.9. $SRPT opened strong. Once this premarket level is broken, I went long. This was also the PBBE/3C setup. I took partial at tech levels. My final partial of 3%, got stopped out once the stock dumped. When trading Momentum, I don't keep large portion of shares for BE (or further profit). Good: I tend to overtrade on Fridays, today I made it specific not to trade anymore after reaching goal. I also increased my share size, during this A+ setup. Improvement: I was looking to trade different setups of higher timeframes during midday. But postponed it till next week.
  32. 1 point
    Friday 10/04/2019 I had a well-being score of 6.5/10 this morning. I am limited to 1 live trade a day due to 3 big loss days in a row, broke a rule and a general lack of discipline. My 1 live trade this morning was with MU. AAPL was definitely in play. MU PM looked a little better than BABA so MU was my second focus. I also liked AVYA and placed it on a side chart. Both AAPL and MU opened weak. According to back test data APPL does not trade well from a standard 1min ORB. You need a hammer (or reverse) or a pull back. AAPL did not give those signals so I didn’t trade it. Though today a standard 1min ORB would have done very well. So I took a standard 1min ORBD with MU. Though my mouse curser was 2 screens away from the montage. So by the time I was able to click the short key I lost about 5 cents. But I saw this and took small share size to compensate. My target was the 43.36 daily level and VWAP as my stop. This was a green to red play, but PDC was coupled with the 200MA and a tech level. The price tried to break these levels twice and failed and I was stopped out for -0.7R. I quickly switched to SIM and shorted MU when it made another go at PDC. It broke through this time and I set a limit order at the target of 43.36. My stop was really tight using the 43.54 daily level. Setting limit orders on my SIM trades this week has gone well and has helped my patience. My order was filled and I took another partial, then exited when it was threatening PDC again. At the same time I took a SIM trade with BABA. It was essentially an early 5min ORB and I got a bad fill. But the trade went in my favor quickly and I sold half my shares to reduce the risk. Then quickly sold the rest when the price stalled. I went short again 30 seconds later with a better entry and again I set a limit order at my target and waited for it to be filled. Its funny how good BABA has traded the last two days, since it was the only two days in weeks I was not looking at it at the open. Score card (live trades). MU 87% What I did good today: Traded something new. Kept to my 1 trade restriction. What I am grateful from today? Did well on SIM trades again today (+3.7R) What do I need to improve on: Will try limit orders next week on live trades.
  33. 1 point
    1/10/19 only 2 trades today, trying to be more selective means im not seeing anything i like at all. maybe i need to be a little less selective, ill have a play around tomorrow. 2 losers (10 min ORB, ABCD) Trade 1: after looking weak i went short near VWAP after a pullback, this wasnt the greatest setup but because i didnt catch an ORB i got in anyway. Trade 2: X was super strong at the open, it sold off and did a 50% retracement then found some support, it was a gap up with all moving averages below the price action so went long with stop below the support but had to stop out.
  34. 1 point
    1 October 2019 AAPL AAPL was on a big gap up today. All the charts looked very bullish and when I saw it was holding the VWAP and all the moving averages in the first two minutes. It bounced I decided to take it long with a stoploss below VWAP and the previous candle. Turned out to be a very good trade with a decent profit. X My second trade was on X. Again a harmonious chart, up trending on all the time frames and no resistance ahead. I entered it long when it broke out of the 10 minute range and the break of the flat wedge. Worked out well, so took partials along the way up. Stopped the rest out at B/E Ended this day green with a profit of 3,5R. I wish I have days like these more often.
  35. 1 point
    30 September 2019 MU in the late morning I saw MU had started a downtrend. On all time frames it was trending down and bottoming out on a descending wedge. I took it short after it touches 3 times the flat bottom for a ride to LOD. It squeezed u and got stopped out above the 20 EMA on the 1 minute ROKU I took a 5 minte opening range breakdown on ROKU after it engulfed on the 5 minute. I placed my stop above VWAP. The daily chart was looking good for this short. It was a harmonious chart below all the moving averages. Unfortunately the trade didn’t work out and stopped me out. WFC Trade 1 Took a descending wedge on this one. Very clear triangle patter with a bottom on a daily level. Took it on the right on the breakdown and partialed at a daily level. It dropped some more but then quickly got bought back up and got out at break even WFC Trade 2 Very nice ascending wedge on this one. It formed a bullish hammer on the 15 minute chart and entered on a new 5 min and 15 min high. In this trade something went wrong with my hotkey. After I got in I saw I had very little size, so I didn’t take any partials since it was too little profit. If had I normal size it would have been at least a 3:1. JD Another descending wedge on JD. Harmonious chart and down trending on all the time frames. I stayed a while in this one since it chopping around my entry. Eventually I got stopped out above the 9 EMA on the 5 minute chart. It was a vey choppy day today. My position sizing was at some trades not on point. Ended the day with -1.5R
  36. 1 point
    Tape Reading and how to use it for trading..
  37. 1 point
    Hi BBT Team -- thanks for asking. I would appreciate a session discussing monitoring spread. How can I set hot keys to make sure that I do not end up with R:R that is not (as) profitable. Should I just not trade when there is a large spread, or is there a way to mitigate risk is these situations? Thanks again. Jennifer
  38. 1 point
    Not sure, better to ask DAS Support [email protected]
  39. 1 point
    Thank you for this...... The info William gave was also great.... I only use the 1min to find a stop sometimes but as the discussion was going I kinda feel that almost any entry would not have been worth the R/R..... I have started to try more scaling in the last two weeks and it seemed that I was going backwards in my trading.... I will continue to try new things once I go Live but in the SIM acct of course,,, Thanks for the input I do truly appreciate it.....
  40. 1 point
    26 September 2019 SQ SQ opened strong in the first 5 minutes. After that it dropped quick below VWAP. It was consolidating on the 1 minute below all the moving averages to a descending wedge. Other signals for me to go short were a engulfing candle on the 5 minute chart and a 10 minute opening range breakdown. I got in under the whole dollar of 60. After that it popped above the moving average, where my stop was. After that pop it dropped again and re entered with a stop above VWAP. Unfortunately it did stop me out. I think the reason this trade didn’t work out because there were to many moving averages on the charts, which acted as support (On the 5, 14 and daily chart). ROKU My other trade was on ROKU. It was down trending on all the charts with no support to the downside. At a point it was forming a small descending wedge and took it short on the 3rd touch of the flat bottom. It did drop a little bit, but then popped back up to VWAP and stopped me out. At this point I’ve had three losing trades in a row, so I had to stop trading.
  41. 1 point
    Another tough trading day with lots of chop. That Nike V-reversal was a great trade! I’m still sticking with one strategy, wedges, and it worked good, this afternoon especially.
  42. 1 point
    Great trading day! I wish I had your discipline. I had the same issue with my first trade as well. I got into an unsatisfactory trade (mine due to a bad fill). I had exactly the same opportunity as you did. I could have gotten out with some profit. Instead I held on for a -1.2R loss. While you smartly just took the profit and ran. Nice job! Also, you stopped trading when you thought you may be emotionally compromised, is a major experienced trader move. Awesome!
  43. 1 point
    $CNQ - Canadian Energy name, nice bull flag, looking for continuation up..., check volume, respect stops - resistance at $27.88. formed nice support at base of breakout candle, has potential. A break below could lead to 200MA and Gap fill in the short term.
  44. 1 point
    Welcome to the community. You're doing it the right way by starting in SIM! Dont hesitate to reach out if you have any questions. See you in the chat!
  45. 1 point
    Today got a little bit late home from work. But it didn’t got me stressed and prepared well for trading. Trades OSTK The stock was gapping down on the daily chart. In the first minutes of the opening it formed a flat bottom on the 1 minute chart. I saw it was down trending on all the time frames and under all the moving averages (harmonious chart). I got in when the 5 minute opening range breakdown occurred. On the way down it found another flat wedge bottom. I wanted to partial but got accidently got all out. At the time I saw it was forming another wedge I re-entered and took a partial at the daily level of 16. The rest I got out at a squeeze above break down. This was a awesome setup. This moves should happen every day. MU trade 1 Tis trade was a descending wedge play in combination with a 10 minute ORBD. I did partial early in this trade (not even 1:1). Because it had already made a big move. My original target was the daily level at 49.93 but it never touched it and got out above the 20 EMA on the 1 minute chart. MU trade 2 At this point I saw that MU was down trending on the 1, 5 and 15 minute chart. I got in at the second touch of the wedge (should have been the third). It dropped a little bit but got bought up quickly after the drops. I didn’t like the price action and got out at break even. CHWY CHWY gapped down on the daily chart. On the 1 minute it did a false VWAP breakout. On the 5 minute it did kind of a reversed ABCD. And it was forming a descending wedge below VWAP and all the moving averages. I was happy with this trade, but it unfortunately didn’t work out. ADBE This wasn’t a wedge play. It looked like a false VWAP breakout. The stock also engulfed on the 5 minute. I decided to take it short below VWAP and under all the ma’s. my target here was LOD and my stop was the break of VWAP and the 20 EMA. ROKU ROKU was making a reversed ABCD on the 15 minute chart. On the 1 minute it made a descending wedge and on the 5 minute it had started a downtrend. My entry was at the flat bottom of the wedge, wich was also a new 5 minute and 15 minute new low. After a couple minutes it made a huge drop and covered along the way down. This was a great setup. Today I ended at daily goal. My winning trades on OSTK an ROKU were awesome plays. I managed my risk well on the other trades which got at +3R. Finally after a 6 day losing streak a good day in the books.
  46. 1 point
    I finally tried it! And it's impressive! Basically free version of tradervue lol! You put a lot of work on this and shared it with the community! Thanks Igor!!
  47. 1 point
    @Igor Incredible work! A few suggestions based on the parameters I track (more like feature requests lol): -Ability to tag trades (by strategy, etc.). I see you have this in the planned already -Time of day trade was taken. I divide the session into: Pre-Market, Open, Late Morning, Lunch, Midday, Close -Risk Multiple Trading. You may be familiar with the term "R" and all the amazing performance metrics that can be calculated based of it such as payoff ratio, etc. Thank you for taking the time to develop this. Subscribed.
  48. 1 point
    Hi all, So I was going through some old messages that I've received over the years, and I stumbled upon a question (and my subsequent answer to) from a fellow trader who asked If I wouldn't mind sharing the strategies I used while growing my CMEG account -- twice -- from from a couple thousand, to over $20k each time. I'm going to paste my response below, because: 1) I think it may inspire someone on the fence relative to trading by providing an over-the-shoulder look into my days, 2) encourage those of you out there who may be doubting yourselves (because if a guy like me can do it -- ANYONE CAN) , and 3) highlight the notion that trading is NOT rocket-science, and largely dependent on our own personality/psychology. I've said it 1,000 times, and I'll say it once more: Trading is 90%+ psychology. I could teach my 7-year old daughter how to trade, but I'll never be able to control her mind....That portion of her being, as it is with all of us -- is an inherent battle within ourselves that very few external influences could effectively sway. As always, questions/comments are more than welcomed.... -- ---- --- --- -- --- ---- --- --- -- ---- --- --- Hi xxxxxxxxxxx, To be honest, I didn't trade much differently than my "normal" way of going about things. During the first run, I had to take somewhat smaller positions, and I did find myself trading more of the low-float variety, but once the account was around $3-4k, trading normal is all I did. My "normal" position size varies, depending on a few things, but my ideal trade is a mid-cap stock (priced in the $15-40 range), with medium to high float, and a tight spread. I like to start with 200-400 shares, then scale in to about 2-3x my initial take as my comfort level with the trade increases; if I don't gain comfort with the trade, I'll stick with the initial entry, or stop out. Anyways..., as the account grew, I would occasionally take more chances, but for the most part -- I just kept things "normal," as mentioned... The strategies I use are both simple, yet complex. Andrew would probably laugh at my saying "simple" (he calls me a very complicated trader, lol), but that's only cuz I'm looking at so many things at once (I call it the "big picture"). The first thing I always do is get a feel for the overall markets: I listen/watch CNBC, search for headlines, and check the major indices... I start trading the premarket around 8:45 am...with very small position sizes... I call this my "warm-up" for the day; kinda' like a football player warms up during his pregame... During this time, and as I'm filtering through my scans, I ALWAYS check the day charts of the stocks I'm interested in. I ask myself, "what is this supposed to do today; which way will it end based on a swing traders perspective?" By about 9:00 am I usually know what I'll be trading on the day, AND I have a very good idea of which way I want to trade the stocks on my list (but things can, and do change). At 9:30 am I'm usually hyper-focused on 1-2 stocks. I'm waiting for confirmation that my pre-market analysis is panning out. Usually it takes a few minutes, but there's always a huge chunk of volume that'll come in and move the stock one direction, or the other... At this time (about 4 minutes in), I've usually already begun to scale in, and will add to my position on obvious pull backs. If we get a clear cut 5-minute candle (white, or red), I'll usually play that direction till about 9:45 am (scalping profits, and reentering on pull backs). Again, though, things can change...so I'm always ready to stop out... At about the end of the first 15 minutes (this time is often ruled by "flag" type patterns; which are easy to see on the 1-min chart), I'll watch the 5 minute chart for reversal dojis; I guess I should clarify that I'm primarily using the 1-min chart for entries/exits during the 1st 15 minutes. By this time (~9:45am) my attention is now spread over about 3-6 stocks, and anything that's hitting my momentum scanners. Again, I'm looking for reversal dojis on the 5-min chart (or anything else that would indicate a reversal), and using the 1-min chart to enter, scale in, exit, etc... After this reversal is over, I'll often take another reversal around 10am ish, set a hard stop, then walk away... I HATE trading after 10:00/10:30 am, so my goal is to set it, and forget it from here on... Often times I'll fall victim to more trades, though....but again-- my goal is to be done after I've closed out the trades I took at 9:45. After a short break, I'll come back to the computers, and see if there's anything else worth taking a "set it/ forget it" type trade..., and then I'll handle other business (I used to have a YouTube channel, but now that I've deleted it, I have lots of free time! Lol ***edit -- I actually brought the YouTube Channel back last week; just search my name, Daniel Thomas, and add Day Trader at the end and I'll pop up)*** EVERYTHING I do is rooted in the ideals of support/resistance. Whether it's a pattern, a candle formation, a previous area of consolidation, walls/stacks in level 2, a moving average, VWAP, etc... IT'S ALL THE SAME. We're either going to fight the support/resistance, then violently push through, Or we're going to bounce (off the supportive/resistive area). So I look at all of it....and I'm looking it all somewhat simultaneously. There is ALWAYS a very obvious sign when we approach support/resistance, so having an open mind (to incorporating every thing I'm capable of seeing) helps me take high probability trades. I think this is why Andrew calls me "complicated," because when most traders are looking for a finite "system" for taking trades, I handle it more in a more multi-dimensional way. Anyways... I think people can trade ANY "style" with a small account. Of course it's harder due to the capital limitations, but it's possible to trade whatever style you're comfortable with. With a $1,000 account, and receiving 4:1 leverage, you can take roughly (depending on maintenance requirements and leverage restrictions): 800 shares of a $5 stock, 400 shares of a $10 stock, 200 shares of a $20 stock, etc... The key is to trade within your comfort zone, and ignore everybody/everything else. If you like flags, play low floaters... If you like obvious reversals, play mid-to-large caps. 100 shares of a $40 stock that moves $2 is $200 gain/loss. And 1,000 shares of a $4 stock that moves .20 cents is the same (+/- $200). Pick what fits your personality, and run with it... Also... keep in mind that with a small account, it's almost necessary to take on more risk than you normally would. At some point there is a cost to doing business (commissions, platform fees, etc.), so making 2% on a $1,000 account isn't going to pay the bills. My point is, even though you're in a smaller account, your risk is still present. I look at "small" accounts as an "opportunity" to trade somewhat normally, with a significantly tilted risk to capital. In other words... All I need is a few good days to even out my risk on capital, but I know/understand that a bad trade on day 1 (or 2...or 3...etc..) has the potential to blow up the account. I think the $4k mark, give or take, enables me to trade nearly identical to the way I trade in a $50k account. The problem many traders run into (I know I did) is taking on larger risk as the account grows larger (primarily by taking on larger sizes). If you can moderate what you do as your account grows, and you trade anything like I do -- when you get to $4k you're off and flying... Moral of the story... Pick a style that fits YOUR personality. For me, its mid-cappers with tight spreads and respectful float metrics. I can trade the low-floater pennies too...which I do on occasion, but they're not necessary; even if you have a "small" account. Avoid over-trading, avoid jumping the gun (FOMO), and take what the market gives you. If you don't see a trade -- don't trade. The markets aren't going anywhere; there is always another trade waiting on the horizon... And I'll end with this... I have talked to a lot of people that have found success in waiting for the first 10-15 minutes to pan out before taking a trade. There's a "sweet-spot" around this time every morning where the range to come is still profitable, and yet the volatility has simmered down. And I say "sweet spot," because-- again-- I think trading after 10/10:30 leads to more problems than it's worth (namely over trading with minimal reward potential). Day traders DO NOT trade for 40 hours per week like a "normal" person works their job(s). We prepare, study, etc for 40 hours (or more) per week, but our actual trading is MOST EFFICIENT for just that first hour, or so, of the day. My biggest struggle when going full time was appreciating this reality; that the money is made from 9:30-10:30, and sticking around much longer is most often a bad idea (unless you're just watching, but NOT actively trading). This is why I'll still take a trade after 10, but i WILL NOT (I try not to) sit around and watch it... I'll put a hard stop in, then come back around 1:30/2pm to see how it panned out.. In any case... I know I probably didn't answer your question like you hoped for, but I'm not into selling pipe dreams and false "strategies." The BEST thing any would be trader can do is get in repetitions....preferably in simulator...then trade the markets based on THEIR unique personality. I swing a golf club differently than you, I shoot a basketball differently, and I even sing karaoke differently (okay, I never really sing karaoke)... We can learn from each other, of course....implement things we see others do into our personal game plans...., BUT no matter how closely you study my golf swing, free throw, or vocals -- yours will ALWAYS differ... Trading the markets is very much the same... Keep me posted as the account grows... STAY GREEN, Daniel
  49. 1 point
    CMEG 3 month Review I wanted to wait a few months before giving my opinion on CMEG. I have been using them since late February 2018 and am one of their initial client accounts. Let me preface this review by saying no broker is perfect but if you are using SureTrader...CMEG is far better overall and a solid choice for small accounts learning to trade with no PDT rule. Their client service is more than happy to talk/email you on any concerns. Who is to say other brokers do not experience the same issues from time to time? I will begin with some issues over the months I have experienced: 1. Orders getting executed (I have experienced times where I could not close out of a position and had to call/email them to manually do it). This lasted for a few hours, sometimes until the next day but usually was fixed overnight. ~2-3 times since February. I was not given a reason why this occurred. Also they do not reimburse any losses incurred for being unable to close out. 2. Changes to their margin policy (without email notification or a phone call on updates to their trading rules). For example, some of my hotkey scrips use % of Buying Power. On a few mornings CMEG had updated their margin allowed and the requirements behind usage. As a result my orders were not getting filled and I had no idea why! Rule parameters could vary from how much margin is allowed with long/short positions/per stock price/maintenance requirement per share...etc. I had to troubleshoot scripts with a real/demo account to understand what exactly was going on...alongside email/phone calls to the broker. A good habit was to test orders in pre-market with the provided demo account. Just because you were able to swing with 4:1 margin without liquidation or use full margin short at the open on XYZ stock priced at X dollars does not mean you can the next day. It's best to check their policy regularly or even better just call to see if there was an update. There was no mass email to clients for rule changes. However, I believe they now inform clients by email for most updates. Excellent! 4. This broker is overseas so be prepared to face international calling charges. However CMEG did help and credit my account for me unknowingly incurring international phone charges. They are not toll-free. They also credited back some of their platform fees that I incurred for the inconvenience of any changes that affected my trading which was very nice. A sign of goodwill and respect to clients. SureTrader refused to credit me back their withdrawal fee $40 after having me wait 3 weeks due to an error on their end to receive my money...I will never go back. 3. Platform software updates - they should inform clients of all manual changes, i.e the Mobile DAS App Order Route had to be manually changed to be able to login on your phone. This had to be changed to route 5016 from 5010 when they released an updated desktop client. Probably just an oversight but I had to take hours out of my day to figure this out, work with DAS tech support, and groupthink with BB members. Also it is best to talk to DAS tech support for any issues related to all licensed DAS platforms, both mobile and desktop. I did not expect CMEG to know everything about DAS as they are a broker and license the platform. 4. Email responses can vary, sometimes less than an hour, sometimes more than a day depending on the situation. Sometimes their phone number doesn't connect through, and I need to call a few times, and I think some of the email signatures use an outdated phone number? Something I'm not sure about that Lee W brought to my attention. I think IB can set up or the direct platform license from DAS has a risk feature you can right click on your account and set up risk parameters, i.e Max Loss, Max Loss Per trade. Not sure on this but CMEG does not offer that feature with their DAS license. Would be a nice feature for new traders to use though. I listed these concerns so CMEG can eliminate them. I am not criticizing their services and am 99% of the time pleased and comfortable using them as my broker. I often email them with suggestions on improvements and compliments. If I am able to work with these issues as a new trader you can as well and should use CMEG. Overall The $2.95 per trade promo that Andrew got us is probably the best you can get out there, unless you scale out 10 times, then IB may be the better choice if you have the account balance, or perhaps Speedtrader. This makes new traders less worried about commissions and breaking even and more focused on trading the setup. SureTrader charges $5 per trade in the U.S. and this makes it very stressful to manage, trust me. Performance has been getting steadily better (orders have been getting filled without issues for well over a month now). Closing positions has not been an issue for over a month as well. Excellent so far. FREE SIMULATOR, when you open an account! SureTrader does NOT offer that. The executions are very fast. Short inventory is excellent (they route through IB and seem to have even more available sometimes) I have not had any crashes of the platform. Windows 10 Pro. They do not restrict margin with many stocks, only in very very rare cases is margin restricted. I think in 3 months I've only seen 1 stock restricted and that was LFIN lol R.I.P. This is a huge advantage to build up small accounts over other brokers like SureTrader and IB. You need at least 5K buying power to make profits over these $2.95 commission fees on most stocks we trade. With 4:1 margin for <2.5K balance and 6:1 for >2.5K that's not hard to maintain and slowly grow on 1-2 trades daily A+ setups. The growing pains of their risk/margin policy changes has settled down. I think they compromised what they can manage and what traders feel comfortable using. It has been over a month I think, since the last big change, and I like what their rules offer! Makes new traders at ease. Rules are available on their website to view. I can pretty much use margin on almost all stocks I trade without issue. I don't trade stocks less than $10 too much and their rules tend to be for very low priced penny stocks. So if you trade from Fernando's watch list you may not be able to use too much margin. Also be aware that in the past you may have been able to swing positions using full margin, that has since been reduced to 2:1 margin, you get an email warning around ~3:48PM and ~3:53PM their system automatically brings you within that limit. When I asked, forced liquidation was not a part of their procedures but came into effect without me being made aware...so it's best to double check their rules weekly or you can learn the hard way. Remember they sometimes update their rules without emailing clients. If you were able to swing with margin in the past, give them a call to make sure you stay within guidelines come market close...if you're caught in a bad trade but like the daily swing. This really doesn't matter because you shouldn't be swinging with much margin anyway right? All in all, I would continue to use this broker and recommend them to new traders wanting to build up their accounts, learn to trade, practice in a sim for free, and use an excellent and tested platform. They are constantly improving and love to receive constructive feedback. It can only get better from here as they develop. Oh yeah wait times on the phone are usually pretty low, couple minutes at most, unlike some other brokers and their service team remembers you! Thanks Andrew for working with CMEG to help us small account holders be able to day trade along side the big boys.
  50. 1 point
    Toan, try changing the Global Default Order Configuration: Go to Setup > Order Templates For Q---Nasdaq, change Account in drop down Hit Apply For N---NYSE, change Account in drop down Hit Apply If that still doesn't work, for each Montage: Right-click the order entry area > Order Template Check Use Global Default
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